Friday, October 23, 2009
Friday, October 16, 2009
Foreclosure flood fails to materialize in Sacramento area - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee
Tuesday, September 22, 2009
Housing News
Home prices creep higher
But the values of US homes aren't as high as expected.
Posted by Elizabeth Strott on Tuesday, September 22, 2009 10:49 AM
Prices for U.S. homes rose by 0.3% in July from June, the Federal Housing Finance Agency reported today, the third monthly gain in a row.
The first-time homebuyer tax credit helped lift prices in July after June prices were revised down to a 0.1% gain from a previously reported 0.5% increase. Economists had expected a 0.5% gain in July home prices.
Prices were down 4.2% from July 2008 and were down 10.5% from the housing market's peak in April 2007. Prices in July were at the same level as March 2005.
Five of nine regions in the U.S. saw price increases, with a 1.6% gain in the Pacific region leading the way. On a year-over-year basis, that region saw prices fall 9%.
The biggest monthly drop was in the East South Central states, which include Kentucky, Tennessee, Mississippi and Alabama. That region saw prices fall 0.9% in July.
"Mortgage rates have come back down, and demand for homes remains high," Brian Bethune, the chief financial economist of IHS Global Insight, told Bloomberg News. "There are a lot of positives in housing right now."
But the values of US homes aren't as high as expected.
Posted by Elizabeth Strott on Tuesday, September 22, 2009 10:49 AM
Prices for U.S. homes rose by 0.3% in July from June, the Federal Housing Finance Agency reported today, the third monthly gain in a row.
The first-time homebuyer tax credit helped lift prices in July after June prices were revised down to a 0.1% gain from a previously reported 0.5% increase. Economists had expected a 0.5% gain in July home prices.
Prices were down 4.2% from July 2008 and were down 10.5% from the housing market's peak in April 2007. Prices in July were at the same level as March 2005.
Five of nine regions in the U.S. saw price increases, with a 1.6% gain in the Pacific region leading the way. On a year-over-year basis, that region saw prices fall 9%.
The biggest monthly drop was in the East South Central states, which include Kentucky, Tennessee, Mississippi and Alabama. That region saw prices fall 0.9% in July.
"Mortgage rates have come back down, and demand for homes remains high," Brian Bethune, the chief financial economist of IHS Global Insight, told Bloomberg News. "There are a lot of positives in housing right now."
Monday, June 1, 2009
Monthly Real Estate Report
TRENDGRAPHIX MONTHLY REAL ESTATE REPORT
BROUGHT TO YOU BY
Lyon Real Estate
3640 American River Drive, Suite 100, Sacramento, CA 95864
F O R I M M E D I A T E R E L E A S E
May 11, 2009
CONTACT: Michael Lyon
CEO
(916) 978-4266
FAX (916) 481-7592
Short Sales on the Increase
“In a reaction to REO inventories now below one month’s supply, more buyers are turning to short-sales in hopes of snagging the home of their dreams. Relatively, the price-per-foot is on the rise in Sacramento, Placer and Yolo counties, although we are still seeing declines in price-per-foot for El Dorado and Nevada counties. The 8% jump in Pended sales over last month reflects strong buyer demand however, with short-sales having only a 25% successful closing rate, we may not see the same result in future closed transactions. Even the Non-REO inventories have dropped down to a 4 months’ supply which is very different from last year at this time when we had 9 months supply of inventory. We still anticipate large numbers of REO properties to enter the market in late spring but if they are spread out and absorbed quickly there is the real possibility that prices under $200,000 have seen the bottom.”
TRENDGRAPHIX’s latest report shows that sales decreased 7 percent during the month of April for the Tri-County region of Sacramento, Placer and El Dorado Counties. April 2009 sales were 3 percent higher than April 2008 sales. Pending sales increased by 7 percent from March to April 2009.
April 2009 inventory of 6,821 homes for sale is 42 percent lower than April 2008 inventory. This is a 55 percent decrease for the regional inventory record high of 15,302 set in August 2007.
COUNTY HIGHS AND LOWS
Sacramento County sales decreased 7 percent from March to April 2009. Inventory decreased 17 percent during the month of April. Pending sales increased by 5 percent in the month of April. 62 percent of the homes sold for under $200,000; 32 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of April to $115.
Placer County sales decreased by 8 percent and inventory decreased by 5 percent during the month of April 2009. Pending sales increased by 6 percent from March to April. 11 percent of the homes sold for under $200,000; 66 percent of the homes sold for between $200,000 and $400,000; and 23 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of April at $150.
El Dorado County showed a 5 percent decrease in sales from March to April, and the inventory decreased by 1 percent from March to April. Pending sales have increased 31 percent during the month of April. 22 percent of the homes sold for under $200,000; 46 percent of the homes sold for between $200,000 and $400,000; and 32 percent of the homes sold for over $400,000. The average price per square foot decreased by 8 percent during the month of April to $150.
Yolo County showed a 16 percent decrease in sales for April and the inventory decreased by 9 percent. Pending sales increased 18 percent during the month of April. 39 percent of the homes sold for under $200,000; 44 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot increased by 9 percent during the month of April to $153.
Nevada County sales have increased by 67 percent during the month of April, and inventory increased 5 percent. Pending sales increased by 16 percent. 5 percent of the homes sold for under $200,000; 30 percent of the homes sold for between $200,000 and $400,000; and 65 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of April at $185.
San Joaquin County sales have increased by 1 percent during the month of April, and inventory decreased 23 percent from March to April. Pending sales are down 2 percent. 51 percent of the homes sold for under $200,000; 40 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same at $91 in April.
BROUGHT TO YOU BY
Lyon Real Estate
3640 American River Drive, Suite 100, Sacramento, CA 95864
F O R I M M E D I A T E R E L E A S E
May 11, 2009
CONTACT: Michael Lyon
CEO
(916) 978-4266
FAX (916) 481-7592
Short Sales on the Increase
“In a reaction to REO inventories now below one month’s supply, more buyers are turning to short-sales in hopes of snagging the home of their dreams. Relatively, the price-per-foot is on the rise in Sacramento, Placer and Yolo counties, although we are still seeing declines in price-per-foot for El Dorado and Nevada counties. The 8% jump in Pended sales over last month reflects strong buyer demand however, with short-sales having only a 25% successful closing rate, we may not see the same result in future closed transactions. Even the Non-REO inventories have dropped down to a 4 months’ supply which is very different from last year at this time when we had 9 months supply of inventory. We still anticipate large numbers of REO properties to enter the market in late spring but if they are spread out and absorbed quickly there is the real possibility that prices under $200,000 have seen the bottom.”
TRENDGRAPHIX’s latest report shows that sales decreased 7 percent during the month of April for the Tri-County region of Sacramento, Placer and El Dorado Counties. April 2009 sales were 3 percent higher than April 2008 sales. Pending sales increased by 7 percent from March to April 2009.
April 2009 inventory of 6,821 homes for sale is 42 percent lower than April 2008 inventory. This is a 55 percent decrease for the regional inventory record high of 15,302 set in August 2007.
COUNTY HIGHS AND LOWS
Sacramento County sales decreased 7 percent from March to April 2009. Inventory decreased 17 percent during the month of April. Pending sales increased by 5 percent in the month of April. 62 percent of the homes sold for under $200,000; 32 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of April to $115.
Placer County sales decreased by 8 percent and inventory decreased by 5 percent during the month of April 2009. Pending sales increased by 6 percent from March to April. 11 percent of the homes sold for under $200,000; 66 percent of the homes sold for between $200,000 and $400,000; and 23 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of April at $150.
El Dorado County showed a 5 percent decrease in sales from March to April, and the inventory decreased by 1 percent from March to April. Pending sales have increased 31 percent during the month of April. 22 percent of the homes sold for under $200,000; 46 percent of the homes sold for between $200,000 and $400,000; and 32 percent of the homes sold for over $400,000. The average price per square foot decreased by 8 percent during the month of April to $150.
Yolo County showed a 16 percent decrease in sales for April and the inventory decreased by 9 percent. Pending sales increased 18 percent during the month of April. 39 percent of the homes sold for under $200,000; 44 percent of the homes sold for between $200,000 and $400,000; and 17 percent of the homes sold for over $400,000. The average price per square foot increased by 9 percent during the month of April to $153.
Nevada County sales have increased by 67 percent during the month of April, and inventory increased 5 percent. Pending sales increased by 16 percent. 5 percent of the homes sold for under $200,000; 30 percent of the homes sold for between $200,000 and $400,000; and 65 percent of the homes sold for over $400,000. The average price per square foot decreased by 2 percent during the month of April at $185.
San Joaquin County sales have increased by 1 percent during the month of April, and inventory decreased 23 percent from March to April. Pending sales are down 2 percent. 51 percent of the homes sold for under $200,000; 40 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot remained the same at $91 in April.
Wednesday, March 25, 2009
Great opportunities
I was out in Roseville yesterday showing property in the $100k range. There are some tremendous opportunities in our current market for investors and first time home buyers. It is a very interesting time for the California real estate market.
Monthly Trendgraphix Real Estate Report
Some interesting statistical data about our market..
TRENDGRAPHIX MONTHLY REAL ESTATE REPORT
BROUGHT TO YOU BY
Lyon Real Estate
3640 American River Drive, Suite 100, Sacramento, CA 95864
F O R I M M E D I A T E R E L E A S E
March 9, 2009
CONTACT: Michael Lyon
CEO
(916) 978-4266
FAX (916) 481-7592
Banked Owned Inventory Declines 20%
“Bank-Owned (REO) Inventory has declined 40% and ‘Solds’ have increased 84% since February 2008,” said Michael Lyon, CEO of Lyon Real Estate. “There has been a 20% drop in REO inventory in just the last 30 days in our region. With state moratoriums and enticements of federal aid, the general feeling is that a lot of REO inventory has been delayed entering the market. Meanwhile, the non-REO market above $500k has seen a 6% increase in inventory and a 37% drop in sales, when comparing February over January 2009. It’s likely that financing constraints are now affecting upper-end market sales and inventory.”
TRENDGRAPHIX’s latest report shows that sales decreased 5 percent during the month of February for the Tri-County region of Sacramento, Placer and El Dorado Counties. February 2009 sales were 44 percent higher than February 2008 sales. Pending sales increased by 4 percent from January to February 2009.
February 2009 inventory of 8,136 homes for sale is 35 percent lower than February 2008 inventory. This is a 47 percent decrease for the regional inventory record high of 15,302 set in August 2007.
COUNTY HIGHS AND LOWS
Sacramento County sales decreased 4 percent from January to February 2009. Inventory decreased 5 percent during the month of February. Pending sales increased by 3 percent in the month of February. 61 percent of the homes sold for under $200,000; 33 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of February to $115.
Placer County sales decreased by 14 percent and inventory increased by 2 percent during the month of February 2009. Pending sales increased by 7 percent from January to February. 10 percent of the homes sold for under $200,000; 65 percent of the homes sold for between $200,000 and $400,000; and 25 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of February at $149.
El Dorado County showed a 13 percent increase in sales from January to February, and the inventory decreased by 1 percent from January to February. Pending sales have increased 4 percent during the month of February. 18 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 33 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of February to $165.
Yolo County showed a 12 percent decrease in sales for February and the inventory decreased by 10 percent. Pending sales increased 18 percent during the month of February. 46 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot decreased by 12 percent during the month of February to $128.
Nevada County sales have decreased by 9 percent during the month of February, and inventory increased 6 percent. Pending sales decreased by 10 percent. 7 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 45 percent of the homes sold for over $400,000. The average price per square foot decreased by 4 percent during the month of February at $188.
San Joaquin County sales have decreased by 18 percent during the month of February, and inventory decreased 8 percent from January to February. Pending sales are up 3 percent. 48 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent to $96 in February.
TRENDGRAPHIX MONTHLY REAL ESTATE REPORT
BROUGHT TO YOU BY
Lyon Real Estate
3640 American River Drive, Suite 100, Sacramento, CA 95864
F O R I M M E D I A T E R E L E A S E
March 9, 2009
CONTACT: Michael Lyon
CEO
(916) 978-4266
FAX (916) 481-7592
Banked Owned Inventory Declines 20%
“Bank-Owned (REO) Inventory has declined 40% and ‘Solds’ have increased 84% since February 2008,” said Michael Lyon, CEO of Lyon Real Estate. “There has been a 20% drop in REO inventory in just the last 30 days in our region. With state moratoriums and enticements of federal aid, the general feeling is that a lot of REO inventory has been delayed entering the market. Meanwhile, the non-REO market above $500k has seen a 6% increase in inventory and a 37% drop in sales, when comparing February over January 2009. It’s likely that financing constraints are now affecting upper-end market sales and inventory.”
TRENDGRAPHIX’s latest report shows that sales decreased 5 percent during the month of February for the Tri-County region of Sacramento, Placer and El Dorado Counties. February 2009 sales were 44 percent higher than February 2008 sales. Pending sales increased by 4 percent from January to February 2009.
February 2009 inventory of 8,136 homes for sale is 35 percent lower than February 2008 inventory. This is a 47 percent decrease for the regional inventory record high of 15,302 set in August 2007.
COUNTY HIGHS AND LOWS
Sacramento County sales decreased 4 percent from January to February 2009. Inventory decreased 5 percent during the month of February. Pending sales increased by 3 percent in the month of February. 61 percent of the homes sold for under $200,000; 33 percent of the homes sold for between $200,000 and $400,000; and 6 percent of the homes sold for over $400,000. The average price per square foot decreased by 1 percent during the month of February to $115.
Placer County sales decreased by 14 percent and inventory increased by 2 percent during the month of February 2009. Pending sales increased by 7 percent from January to February. 10 percent of the homes sold for under $200,000; 65 percent of the homes sold for between $200,000 and $400,000; and 25 percent of the homes sold for over $400,000. The average price per square foot increased 1 percent during the month of February at $149.
El Dorado County showed a 13 percent increase in sales from January to February, and the inventory decreased by 1 percent from January to February. Pending sales have increased 4 percent during the month of February. 18 percent of the homes sold for under $200,000; 49 percent of the homes sold for between $200,000 and $400,000; and 33 percent of the homes sold for over $400,000. The average price per square foot increased by 2 percent during the month of February to $165.
Yolo County showed a 12 percent decrease in sales for February and the inventory decreased by 10 percent. Pending sales increased 18 percent during the month of February. 46 percent of the homes sold for under $200,000; 47 percent of the homes sold for between $200,000 and $400,000; and 7 percent of the homes sold for over $400,000. The average price per square foot decreased by 12 percent during the month of February to $128.
Nevada County sales have decreased by 9 percent during the month of February, and inventory increased 6 percent. Pending sales decreased by 10 percent. 7 percent of the homes sold for under $200,000; 48 percent of the homes sold for between $200,000 and $400,000; and 45 percent of the homes sold for over $400,000. The average price per square foot decreased by 4 percent during the month of February at $188.
San Joaquin County sales have decreased by 18 percent during the month of February, and inventory decreased 8 percent from January to February. Pending sales are up 3 percent. 48 percent of the homes sold for under $200,000; 43 percent of the homes sold for between $200,000 and $400,000; and 9 percent of the homes sold for over $400,000. The average price per square foot decreased 1 percent to $96 in February.
Tuesday, March 10, 2009
Economic Forecast for California Real Estate
We attended our March main meeting at the Sacramento Association of Realtors last week. The guest speaker was Leslie Appleton - Young, the chief economist for the California Association of Realtors. It was a very sobering report but did provide some hope for a light at the end of the tunnel. We have gone through approximately 80% of our current foreclosure inventory. That is good news. There are more on the way however. According to the reports Sacramento was one of the first areas to be hit and will be one of the first to recover- Yeah. I have attached a link to her power point presentation below. Even with all the negative news this is still a tremendous time for first time homebuyers to purchase an affordable property or for investors who are looking for rentals. Interest rates are great.
http://www.sacrealtor.org/documents/events/03-03-09sacto.ppt
http://www.sacrealtor.org/documents/events/03-03-09sacto.ppt
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