There's NO doom OR gloom in the Sacramento CA real estate market!

By
Real Estate Agent with RE/MAX Gold, Fair Oaks
http://actvra.in/G2C

There's NO doom OR gloom in the Sacramento CA real estate market!

Jonathan Bowman wrote a post called "Don't Drink the Doom and Gloom Kool-aid" in which he talks about his local news reports that are predicting more foreclosures and implying that there is going to be another failure of the real estate market resulting, and his well-written disagreement with that report.
the real estate market is improving
It's too bad that many of those articles aren't written by real estate professionals in the trenches, because "doom and gloom" is the last term I would use to describe the market here, and in most parts of the country right now.  My experience the last month or so has been that every agent has a number of willing and able buyers, but there are very few homes for them to buy. 

Since several major banks have been prevented from foreclosing for some time due to the robo-signing scandal, and homes on which they did foreclose have been kept in limbo, I would welcome the release of some of those into the market

I don't mean I want people to be foreclosed on I guess, but I have heard of some folks who haven't made a payment in 2 years and there has been no foreclosure. 
the real estate market is improving
Meanwhile, with the historically low interest rates and prices starting to inch up due to the competition for the existing inventory, buyers are realizing that they had better get busy if they want to buy something.  As more inventory comes onto the market and the higher prices are reflected in the comps, I think we will have the beginning of a healthy market.

Introducing some foreclosures into the market will stimulate - not depress - the real estate market.  The only thing we have to beware of is the real estate market is improvinghaving the prices zoom up like they did during the last big boom and then waiting for the bubble to burst. 

I don't see that happening in my lifetime.  Oh, there will be ups and downs as real estate cycles have always done, but hopefully the mistakes of the last boom will not soon be forgotten.

I am no pollyanna, but I do feel excited about the market as it is evolving these days! I definitely see NO gloom OR doom in the Sacramento area real estate market!


Thinking of selling your home?  Remember it costs you nothing for me to come out and discuss your home, the market in your area, and give you a market analysis and presentation so that you will know what you can expect to get for your home.

Call for appointment:  (916) 705-8951


Also Remember, I can help you to tour any home for sale in Sacramento County and the surrounding areas, no matter what firm has it listed, and I can help you with your purchase if you find the perfect home for you.

Just give me a call at (916) 705-8951

***********

Susan Neal
Broker / Realtor

Susan Neal Fine Properties

Century 21 Noel David Realty
Fair Oaks, California

Full time real estate services in Fair Oaks CA, with friendly professionalism, 30+ years experience. 
I work hard to give my buyer or seller a low-stress transaction.

"Happy clients make me happy."

For all your real estate needs or questions, call me at (916)705-8951 or visit my website at www.SusanNealFineProperties.com.    

HUD homes resource             Search HUD Homes

Check out my business page on facebook:  Susan Neal Fine Properties


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*******

Thinking of selling your home?  Remember, it costs you nothing for me to come out and discuss your home, the market in your area, and give you a market analysis and presentation so that you will know what you can expect to get for your home.

Call for appointment:  (916) 705-8951


Also Remember, if you are planning to buy a home, I can help you to tour any home for sale in Sacramento County and the surrounding areas, no matter what firm has it listed, and I can help you with your purchase if you find the perfect home for you.

Just give me a call at (916) 705-8951

***********
Susan Neal
Broker / Realtor

Susan Neal Fine Properties
RE/MAX Gold
Fair Oaks, California

Full time real estate services in Fair Oaks CA, with friendly professionalism, 30+ years experience. 
I work hard to give my buyer or seller a low-stress transaction.

"Happy clients make me happy."

For all your real estate needs or questions, call me at (916)705-8951 or visitmy website at www.SusanNealFineProperties.com.    

HUD homes resource            Search HUD Homes

Check out my business page on facebook:  Susan Neal Fine Properties

 

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Topic:
Real Estate Market Trends
Location:
California Sacramento County Sacramento Orangevale
Groups:
Fair Oaks CA real estate and information
Advice for Buyers
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Citrus Heights Real Estate
Sacramento Real Estate
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Comments 8 New Comment

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Ambassador
1,089,616
Melissa Zavala
Broker, Escondido Real Estate, San Diego County
Broadpoint Properties

NIce that you are so upbeat. I am so tired of hearing about gloom and doom.

July 13, 2012 07:13 PM
Rainer
184,564
Thomas McCombs
Century 21 HomeStar

We keep hearing about your area having a very high distressed property situation -- one of the highest in the country according to some members of the media.

It is good to hear that your experience is different. That is encouraging.

 

July 13, 2012 07:41 PM
Rainmaker
577,603
DeeDee Riley
Realtor - El Dorado Hills & the Surrounding Areas
Lyon Real Estate - El Dorado Hills CA
Susan, I see no doom and gloom in my area of El Dorado Hills either and I agree with you on the banks releasing a few of those foeclosures! Bring them on! Have a great weekend!!! DeeDee
July 13, 2012 07:44 PM
Rainmaker
582,897
Susan Neal
Fair Oaks CA & Sacramento Area Real Estate Broker
RE/MAX Gold, Fair Oaks

Melissa - Me too!  Especially since they haven't caught on to the change in the market.

Thomas - That's last year's news.  2012 is a different story in Sacramento County and neighboring areas.

DeeDee - It's too bad that our area (Sacramento, Placer, and El Dorado Counties) has had so much bad press during the downturn, because the news just isn't getting out that things are completely different now.

July 13, 2012 08:04 PM
Ambassador
1,265,275
William Johnson
San Diego Real Estate Voice, GRI CRS e-Pro CDPE
RE/MAX Associates
Hi Susan, I would have to mostly agree but I have seen lenders still playing games and tormenting qualified Buyers. The issues that underwriting come up are certainly still affecting the abilities of Buyers to close on time or close at all. I have had 2 this week already with no certainly of close beyond the assurance that the Buyer will work it out. But that aside, I do believe we are mostly out of the woods and that there are going to be lots of satisfied Buyers and Sellers through the rest of the year and beyond.
July 13, 2012 08:18 PM
Rainmaker
582,897
Susan Neal
Fair Oaks CA & Sacramento Area Real Estate Broker
RE/MAX Gold, Fair Oaks

William - I haven't had underwriter issues, but I have had a little issue with appraisers.  It's not their fault.  The market has turned so suddenly that they have no comps yet in the new prices, so appraisals can come out low.  We need to sell more of the homes that are getting multiple offers so the comps for the homes coming up will have good comps.

July 13, 2012 08:23 PM
Rainmaker
495,335
Cal Yoder
Homes For Sale in Lancaster PA - 717.413.0744
Keller Williams of Central PA East

Susan, I agree that we are just beginning the climb out of the trough. Things have turned for the better. We, too, have a shortage of good inventory. Hope it goes very well for you and have a great weekend.

Cal

July 14, 2012 04:00 AM
Rainmaker
582,897
Susan Neal
Fair Oaks CA & Sacramento Area Real Estate Broker
RE/MAX Gold, Fair Oaks

Thank you Cal.  I'm glad your market is doing well too.

July 14, 2012 09:46 PM
Show All Comments
Rainmaker
582,897

Susan Neal

Fair Oaks CA & Sacramento Area Real Estate Broker
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