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Is our real estate market headed for a bust? Or maybe just a correction? My quick answer is the market is changing got sure. For purposes of the market, I will look at the market in Sacramanto, Placer, and El Dorado counties. This region extents from Sacramento going up both the Highway 80 and Highway 50 “corridors” up to Lake Tahoe. First let us look at some history. In this region in the last 5 years, prices have gone up 50%! We have been seeing a 8-10% increase in prices each year. Take a look at the chart below. This rate of increase (8-10 % annually) IS NOT sustainable. If we look at the trend in Active, Pending, and Sold homes in our region, the market has been fairly steady the last 5 years. We have been selling about 2000-2500 resale homes in our region for the last 5 years. Again, I am defining our region as Sacramento, El Dorado, and Placer county. Eventhough the inventory of homes for sale ( Active homes in our multiple listing service (MLS)) has varied, the actual number of sold homes has been consistant for the last 5 years. Take a look at…Read More
Chances are if you are renting you are spending too much of your income on your monthly housing expense. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their rent or mortgage payment. This percentage allows the household to save money for the future while comfortably covering […]Read More
A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification. For many, the mortgage process can be scary, but it doesn’t have to be! In order to qualify in today’s market, you’ll […]Read More
With home prices on the rise and buyer demand still strong, some sellers may be tempted to try and sell their homes on their own without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that […]Read More
According to a new study from Urban Institute, there are over 19 million millennials in 31 cities who are not only ready and willing to become homeowners, but are able to as well! Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in […]Read More
There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions: The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, […]Read More
In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a recent realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can […]Read More
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“Frank helped me find a perfect house for me and my family and it was a very simple, easy process. He followed up often, we talked on the phone or via email. He made sure that the underwriter was doing everything on time so we could move in on time.”
“They were super helpful and walked me through purchasing my first home and were always available, always responsive which made what could have been a really intimidating process very easy, pain-free, and smooth. I asked him a ton of really dumb questions because as a first-time buyer I didn’t know what I didn’t know and rather than pointing me to the answer he went the extra mile and got all of the detailed information for me.”
“We were very happy with it. They advised us that we were asking too much and so we lowered it which they didn’t think was enough yet, but we wanted to try it. So we tried it for several months and it didn’t work so we lowered it again and got a bite. They were honest with us and Mary was very personable and she showed us many homes. We are in our eighties and we had some restrictions at the time so they were always very careful to see that they didn’t take me any place that I couldn’t get around. They have become very dear friends.”
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