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Ryan Lundquist is a Certified Residential real estate appraiser serving the Greater Sacramento Region. He is FHA approved and does work for brokers, banks, governmental agencies, Realtors, attorneys, home owners and more. Ryan speaks some Spanish too.

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The material and information contained on this website is the copyrighted property of Ryan Lundquist and Lundquist Appraisal Company. Content on this website may not be reproduced or republished without prior written permission from Ryan Lundquist. The information on this website is meant soley for educational purposes and is not intended in any way to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation or any other potential appraisal-related purpose. The material found on this website is meant for casual reading only. For more detailed market analysis to be used for an appraisal report or any appraisal-related purpose, please contact us for more information. Thank you.

Riding the Same Wave in Carmichael & Fair Oaks

I’m wrapping up an appraisal report tonight for an investor in Carmichael. While crunching numbers and running data, I decided to do a little comparison of sales in Carmichael and Fair Oaks. So I graphed all detached single family residential sales (from MLS) over the past three years and came up with the following trend graph. I only included sales less than 1.5 million since there are a very limited number of properties above that level.

All sales over the past 36 months in Carmichael are listed below in blue and all sales in Fair Oaks are displayed in green.

Sales in Fair Oaks and Carmichael in Sacramento County Trend Graph by Lundquist Appraisal Company

It’s interesting to see an overall common trend for both Carmichael & Fair Oaks, though not ultimately surprising since the communities tend to overall have a somewhat similar appeal in the marketplace (though Fair Oaks has a slight edge as local Realtor Nate Sisam mentions below). Despite there being niches in both communities that may be superior to other areas, and a slightly higher median price level in Fair Oaks, it seems that the ups and downs of the real estate market over the past few years have been taken in stride for both of these communities. In fact, the median price level for Fair Oaks over the past year was only 2% higher than Carmichael during the first 6 months of the year, and 4% higher during the past two consecutive quarters. For reference, the latest unemployment rate in Carmichael as of November 2009 is 9.2%, whereas the unemployment rate in Fair Oak si 7.0%. The rate of unemployment in Sacramento County as a whole for November 2009 is 12.5%.

Sacramento Realtor Nate Sisam gives us further insight:

realtor-nate-sisamFair Oaks and Carmichael are both established neighborhoods that offer people larger than overage lot sizes and diverse architecture. It has always been that Fair Oaks commanded a slightly higher price due to several key elements. Fair Oaks was one of the first established “Country communities” in the 20′s-40′s with a rich history in Olive and Citrus farming. Today that heritage is still evident when looking at property in Fair Oaks. Additionally the Fair Oaks Village brings the community together and adds to the charm of the area. From an accessibility standpoint Fair Oaks is slightly more freeway accessible. I would note that these communities are diverse and that pockets within each of them could be considered equal.

What do you think of the graph above? Does anything stand out to you? If you live or work in Carmichael or Fair Oaks, what do you enjoy about the community? If you had your choice to live in either of these areas, which would you choose? Comments are welcome below.

www.lundquistcompany.com/blog Riding the Same Wave in Carmichael & Fair Oaks

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  1. Stefanie Moulton’s avatar

    I purchased an REO in Carmichael last Nov. and while I love the location, I hate the skunks! I have several living under my master bath and wonder, should not my high-priced HomeGuard inspection have revealed this? Or the Section 1 clearance reports? Anybody?

  2. Ryan Lundquist’s avatar

    Ouch. I’m so sorry to hear that. I know crawl spaces are dark, so if these little guys were hiding out in an obscure place, it could be easy to miss. Was this something unhidden though? Are you certain that the skunks were there when you purchased the home, or did they move in after escrow closed? Your answer to the last detail is very important.

    I used to have a skunk issue when I lived in Southern CA and I have some stories from those days. I hope you get those skunks out of your crawl space. I wish you the very best. Keep me posted.

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