Sacramento CA Real Estate Podcast with Thomas March - Sacramento Real Estate Market Update for Fall 2014

Sacramento Real Estate Market Update for Fall 2014

09/10/14 • -1 min

Sacramento CA Real Estate Podcast with Thomas March

There are many great Roseville and Sacramento area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (916) 529-5342 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hey there everybody. Welcome back to our blog. Today what we'd like to do is give you a brief market update on what has been going on in both Sacramento and Placer Counties lately. We hope you take the information from this market update and absorb it so you can know exactly what's going on in real estate. First, let's talk about Sacramento County.

We currently have 3,349 homes for sale, a 41.2% increase over last year at this time.
We have had 1,726 homes go pending so far this year, an increase of 8.3% over last year
Right now, the average price per square foot for a home in Sacramento County is $174, 14% higher than last year

Overall, Sacramento County sees positive signs for both buyers and sellers. Right now, we are selling homes at 101.2% of asking price and the average days our homes are on the market is under 21, so they are selling quick. On the other hand, extremely low interest rate and an increase in inventory give buyers more options and more savings. Now, let's talk about Placer County. Right now in Placer county:

We have 154 homes on the market, a big 56.3% increase from the inventory we had at this time in 2013.
The average price per sq. ft. in Placer County is $191
There are less than 3 months of inventory on hand, making Placer County a better place for sellers.

If you would like to get some more market statistics or just have any questions we can answer, please give us a call or send us an email. We'd love to help out!

Sacramento Real Estate Market Update for Fall 2014

We currently have 3,349 homes for sale, a 41.2% increase over last year at this time.
We have had 1,726 homes go pending so far this year, an increase of 8.3% over last year
Right now, the average price per square foot for a home in Sacramento County is $174, 14% higher than last year

We have 154 homes on the market, a big 56.3% increase from the inventory we had at this time in 2013.
The average price per sq. ft. in Placer County is $191
There are less than 3 months of inventory on hand, making Placer County a better place for sellers.

If you would like to get some more market statistics or just have any questions we can answer, please give us a call or send us an email. We'd love to help out!

Previous Episode

Sacramento Real Estate Market Update for Summer 2014

Sacramento Real Estate Market Update for Summer 2014

Today we want to talk to you a little bit about all that has been happening in the Sacramento real estate market this summer. Let's get started. Here are some things you need to know, it's a pretty crazy market right now.

We are seeing prices all over the place
In the past month, we have seen a 10% increase in the number of homes that have gone on the market.
We have seen an increase in pending home sales in the past month of 5.4%
Compared to last year at this time, the number of homes available for purchase is up 57.6%. This is great news if you are looking to buy a home right now, as there are many more options to choose from compared to last year, when we had only about a month of inventory available.
With interest rates continuing to be low, now is a great time to buy. We expect home prices to increase anywhere from 3-10% in the next year so locking in a mortgage rate with these prices is essential. Waiting is not in your best interest!
Like we said before, prices are all over the place. It's important that you work with somebody who understands the market, knows the numbers, and is able to give you good advice on purchasing a home.
We are seeing homes that are priced correctly going for top dollar and going fast, so now is a great time to buy as well.

If you are looking to buy, sell or invest in real estate or know somebody who is, give us a call or send us an email. It's a great time to be buying or selling in the real estate market and we would love to help them accomplish their goals.

Next Episode

What You Need to Know as a First-Time Home Buyer

What You Need to Know as a First-Time Home Buyer

The Sacramento real estate market has changed dramatically in the past year. We are seeing a lot more inventory on the market, as well as historically low interest rates. This surge in market activity has had us talking to a lot of first-time home buyers lately. Deciding to purchase your first home is a big step, and there is a lot of information you should be aware of. That is why we are joined today by our preferred lender Doug Jones. Doug is going to talk to us about some great programs that are out there, designed for first-time home buyers.

There are some great programs out there right now for first time home buyers in the finance world. A lot of programs that require little down payments. There are a lot of reasons to put a small down payment on a home, but for first time home buyers, it's because you don't quite have the cash reserves to put $20,000 down on a home.

There are 2 primary options that offer low down payment plans for 30-year fixed mortgages. FHA financing allows you to get into a home with just a 3.5% down payment. Conventional financing requires a minimum 5% down payment.

The other 2 options are a little more complex. With VA financing, you aren't required to pay any down payment, but the catch is you will need to be either active-duty or retired military or national guard. If you have a document called the DD214, you are all but guaranteed a VA loan with 0% down.

Another program is USDA. This is a rural program for unincorporated areas such as Lincoln, Loomis, and parts of Auburn. Those allow a small down payment as well.

Another question that we get a lot from first time home buyers is what kind of down payment assistance we can offer. We can offer some great down payment assistance programs through CHDAP, or the California Housing Down Payment Assistance Program. This program is designed to be combined with an FHA loan to bring down the payment to between 1/2% and 1%.

For conventional financing, while CHDAP doesn't lower the down payment from 5%, it allows you to use 3% of that 5% to cover closing costs. There are definitely a lot of great programs out there for first time home buyers.