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How is the Rancho Cordova real estate market doing compared to the rest of Sacramento county? What is the percentage of foreclosure sales (REO), short sales and total amount of distressed property sales (REO + Short Sales)? Let’s take a look below to glean some insight.  

Rancho Cordova Sales and Sacramento County Sales Past 2 Years November 2009 by Lundquist Appraisal Company

The information above is based on all residential sales listed in Sacramento Metrolist over the past two years. Overall, the percentage of bank-owned sales dropped by 5% in both Rancho Cordova and Sacramento County, while at the same time the percentage of Short Sales rose by 7% in both Rancho Cordova and Sacramento County. Over the past two years Rancho Cordova had a 7% lower foreclosure rate than Sacramento County and a 2% higher percentage of short sales. 

www.lundquistcompany.com/blog Foreclosure and Short Sales Figures in Rancho Cordova Compared to Sacramento County

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What’s the latest in the “Anatolia” neighborhood in Rancho Cordova? How much are houses selling for, and what are properties currently listed for on the market? Here is a quick scatter graph based upon 07/12/09 – 10/12/09 for single family detached residential properties within the defined neighborhood boundaries for Anatolia (well, technically there are no attached units located in Anatolia, but for the casual reader, I wanted to make sure the scope of data was clarified). Please note that there are more listings and pendings on the market in Anatolia, but this graph displays only listings and pendings that came on the market after 07/12/09. The intention of the graph is to display data for what has actually ocurred in Anatolia over the past three months.

Anatolia Neighborhood Rancho Cordova Sales Actives Pendings 2009 Lundquist Appraisal Company

I know, I know, the following sounds like a shameless plug, but this is very important information to understand. As an FYI, here is a video we made regarding lowering property taxes in Anatolia. We have been able to help Anatolia home owners over the past several months put together very thorough valuation reports to contest the level of their property taxes (the report is not a full appraisal OR near the cost of a full appraisal). Keep in mind that the deadline for disputing property taxes in Anatolia is 11/30/2009. 

 

Keep us posted if you have any questions. You are welcome to comment above, call 916-595-3735 or email ryan@lundquistcompany.com.

http://www.lundquistcompany.com/blog Anatolia Neighborhood in Rancho Cordova: Sales, Pendings and Listings over the past 90 Days

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I thought it would be interesting to take a look at Rancho Cordova sales over the past several years and simulataneously check out unemployment rates during that same time period. Is there a relationship between unemployment and the value of real estate? Generally speaking, the higher the unemployment rate, there is a good chance of lower home prices because the probability of buyers being able to purchase houses at higher prices decreases.

The trend graph below records all single family detached sales in the city of Rancho Cordova through Sacramento Area Metrolist. The unemployment figures are based on data provided by EDD. What do you see in the graph? Does anything stand out to you or surprise you about the sales (blue dots) or listed unemployment rate?

Rancho Cordova Sales and Unemployment Rates September 2006 to September 2009

Below is a view of the past 12 months of sales. As can be seen, the unemployment rate has risen sharply over the past year. It looks like overall the top of the market has seen a decline in property values. At first glance, when viewing a graph like this, it’s easy to gloss over the details, but when looking closely, it’s clear that there are less sales at higher levels over the past months, aren’t there? More specifically, there are few sales above the $400,000 level over the past 180 days.

Rancho Cordova Sales September 2009 and Unemployment Rate by Lundquist Appraisal Company

I don’t want to be misleading in any way by indicating that unemployment is the sole determining factor for property values. That’s not what I am saying. I think there is a relationship between unemployment and the housing market, but that unemployment is only one of the factors involved. This point is illustrated perfectly by a current phenomenon in many sub-markets in the Sacramento Region. Bidding wars, multiple offers, and higher prices have become more commonplace for certain price levels. Despite unemployment rising, the lower supply of housing inventory over the past months has really helped to fuel this phenomenon because there has been more willing buyers than available houses (and prices are very attractive too because of how far they have come down from several years ago). Other factors to consider that may impact the real estate market are supply and demand, governmental regulations, interest rates, consumer confidence in the economy, etc…

Please let me know if you have any questions. You can call me at 916-595-3735 or contact me at ryan@lundquistcompany.com.

http://www.lundquistcompany.com/blog A Look at Home Sales & Unemployment in Rancho Cordova

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capital-village-rancho-cordovaHave you wondered what properties in the “Capital Village” neighborhood of Rancho Cordova are currently selling for. I’d like to satisfy your curiosity by providing all 28 of the current MLS listings (as of 08/28/2009). Please note that Beazer may also have other properties for sale that are not listed through MLS. For more information on “Capital Village”, see previous posts HERE and HERE as well as a Capital Village video tour I put together. By the way, “DOM” stands for “Days on Market”.

Status                  List Price     DOM    Address                       Sq Ft  
Active 216990 55    3115 Eades Way 1311
Active 219990 56    3139 Minturn Way 1311
Active 219990 51    10877 Wraysbury Way     1311
Active 234990 9    10892 Disk Dr 1658
Active 244990 45     10881 Wraysbury Way 1658
Active 249990 13    3103 Lea Sterling Way 1585
Active 251990 46    3102 Lea Sterling Way 1698
Active 257990 192    3105 Lea Sterling Way 1698
Active 257990 63    3113 Lea Sterling Way 1698
Active 315000 62    3480 Nouveau Way 1953
Active Short   174900 189    10896 Atherstone Dr 1774
Active Short 195000 189    11035 International Dr 1651
Active Short 199000 70    10966 Stourport Way 1650
Active Short 200000 147    11013 International Dr 1374
Pending 217108 21    10888 Disk Dr 1311
Pending 231208 2    10905 Tower Park Dr 1311
Pending 233990 13    3156 Lea Sterling Way 1286
Pending 237490 97    10929 Oakham Dr 1309
Pending 239990 33    10927 Oakham Drive 1444
Pending 244153 33    10894 Disk Dr 1658
Pending 249791 107    10909 Tower Park Dr 1658
Pending 249990 29    3108 Mowbray Way 1309
Pending 252490 42    10925 Oakham Drive 1585
Pending 255990 9    3110 Mowbray Way 1444
Pending 264990 29    3157 Lea Sterling Way 1857
Pending 266990 27    3112 Mowbray Way 1585
Pending 274990 6    3154 Lea Sterling Way 2090
Pending 299990 21    3159 Lea Sterling Way 2090

 

Capital Village Real Esate Listings Graph August 2009 Rancho Cordova CA

What do you notice about the listings above? Does anything stand out to you or surprise you? Let me know if you have any questions about the data or a need for additional research or valuation services. I know the Capital Village market area well. You can comment at the top of the post (just below the main post title) or contact me at info@lundquistcompany.com or 916-595-3735.

http://www.lundquistcompany.com/blog Current Houses for Sale in the “Capital Village” Neighborhood in Rancho Cordova CA: Aug 2009

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I put together a series of city-wide graphs to show the past three years of home sales within Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights. It’s always interesting to me to take a look at a market-wide graphs to try and make sense of what property values have done over a specified time period. When looking at data like this, I ask questions like: What is the lower end of the market doing? Have there been any changes in the upper end? What does the overall trend look like? Declining? Stabilizing after a decline? Increasing? What types of circumstances may have triggered a change in the overall price levels during various times over the past three years? New laws or regulations? Unemployment? Loan rates adjusting? Economic factors? Zoning?

All graphs below are based on information from Sacramento Metrolist between 08/28/2006 to 08/27/2009. The points on the graphs represent single family residential detached units.

Number of Sales in the Past 3 Years:

  • Folsom:  2,183
  • El Dorado Hills:  1,665
  • Rancho Cordova:  1,732
  • Citrus Heights:  2,374

What do you see? What does it look like the market has done in the areas below? Does anything stand out to you or surprise you? What do you notice about the higher end of the market on all of the graphs?

Folsom Real  Estate Market Trends: 

Folsom CA Sales Trend Graph August 2006 to August 2009

 El Dorado Hills Real Estate Market Trends

El Dorado Hills Sales Graph August 2006 to August 2009

Rancho Cordova Real Estate Market Trends:

Rancho Cordova Sales Graph August 2006 to August 2009

Citrus Heights Real Estate Market Trends:

Citrus Heights CA Sales from August 2006 to August 2009 Trend Graph

City-wide data is important to look at because what is happening in the overall city can sometimes have an impact on smaller niches and portions of housing within the same city. This is not always true, but it’s relevant to at least be aware of what is happening in the overall market so that we can more readily decipher a city’s sub-markets.

On the other hand, one of the glaring downfalls of city-wide data is that information is too general to really draw neighborhood-specific conclusions from. As we all know, each city or area typically has a host of different types of neighborhoods, and these pockets of real estate can vary drastically from each other in terms of buyer perception, price range, and many other factors. For example, Rancho Cordova has two main zip codes and the 95742 zip code (Anatolia) is far different from most of the 95670 zip code (everything else). Or properties near Old Town Folsom may have weathered the market differently than those in Empire Ranch. Or Governor’s Village and Serrano in El Dorado Hills may show differing market trends because of location, square footage, year built, or some other factor.

With all that being said, I am very curious to hear your observations and insight about the city-wide trend graphs above. Feel free to comment above (just below the post title)  or email info@lundquistcompany.com. If you are in need of additional and more specific research or an appraisal, let’s talk soon (916-595-3735). 

http://www.lundquistcompany.com/blog Real Estate Market Trends: Past 36 Months of Sales in Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights (August 2006 – August 2009)

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I have been thinking of doing a little photography / biking experiment for the past couple of weeks, and yesterday I made it happen. I set out to snap some pictures from my bike (and then make a video out of it). I manually took 882 photos while holding a small Canon SD300 in my hands. You can see the video below or HERE directly.

I rode through the trails surrounding the “Stone Creek” neighborhood in Rancho Cordova and then I headed North on Kilgore to International. I then cut through the “Capital Village” neighborhood in Rancho Cordova on the way back to my truck in the parking lot of CVS Pharmacy.

This was a little experiment and I’m glad I did it. There is definitely some room for improvement in methodology, so keep in mind that this was a first stab. I’m not a photographer by any stretch of the imagination, but just a guy who loves to ride throughout my home town.

 http://www.lundquistcompany.com/blog  882 Pictures from my Bike (Rancho Cordova)

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What’s been happening in the Rancho Cordova real estate market North of Highway 50 (referred to as the “Riverside” portion of Rancho Cordova due to being on the side of the freeway with the “river” – clever, huh)? Let’s take a look below at some data and graphs. What do you notice?

Rancho Cordova Sales August 2009

Rancho Cordova Real Estate Market Trends (North of Hwy 50):

Over the past 90 days there were 83 sales North of Highway 50 (not including South of Highway 50 – Stone Creek, Anatolia, Capital Village…). All data is based upon single family residential units.

  • 20 current Active listings
  • 53 current Active Short Sale listings
  • 44 current Pending properties
  • 59% of sales since January 1, 2009 have been bank-owned sales
  • 19% of sales since January 1, 2009 have been short sales
  • Low Price over past 90 days:   $76,000
  • High Price over past 90 days:  $265,000

Rancho Cordova Listings August 2009

The graph above shows all the current listings North of Highway 50 in Rancho Cordova (including pendings).

The data above is not meant to be exhaustive or be representative of every niche North of Highway 50. The Riverside portion of Rancho Cordova contains a multitude of neighborhoods and they are not all comparable to each other. You don’t have to be an expert in real estate, for example, to explain some of the differences between Sunriver, White Rock, Cordova Meadows or Croetto. So when data is lumped together as above, it does not mean that there are sales below $100,000 in every neighborhood North of Highway 50, or that the percentages of bank-owned and short sale properties are the same in each neighborhood either, or that there were even sales within certain areas of Rancho Cordova in the past 90 days.

The data above is meant solely for educational purposes. If you have a need for more detailed analysis or a need for a valuation for estate settlement, purchase, refinance, bankruptcy, pre-listing, litigation or any other type of appraisal purpose, feel free to reach me (Ryan) at 916-595-3735 or www.lundquistcompany.com.

http://www.lundquistcompany.com/blog  Rancho Cordova Sales & Listings: Past 90 Days North of Highway 50 (“Riverside” portion of Rancho Cordova)

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Here is a quick update for those interested in what is happening the “Anatolia” area of Rancho Cordova in the 95742 zip code.

There are currently 152 listings within the 95742 zip code. 45 of these properties are pending (in contract) and 77 of them are short sale actives, while the rest are typical active listings (some bank-owned and others not).

Anatolia Listing in Rancho Cordova July 2009

Over the past 90 days there have been a total of 70 sales in the neighborhood as shown in the following graph.

Anatolia Sales in Rancho Cordova 95742 Zip Code July 2009

Real Estate Market Trends in 95742 Zip Code:

  • 70 sales over the past 90 days (per MLS)
  • Low Sale:  $175,000
  • High Sale:  $495,000
  • Median Price Level over past 90 Days:  $282,745
  • NOTE: Most sales tend to hover around $400,000 or lower, but there is one straggler at $495,000.

Please let me know if you have any questions about the data above, the Anatolia market area, Rancho Cordova or other areas in the Greater Sacramento Region. I take pride in knowing local neighborhoods well and producing credible appraisals for estate settlement, litigation, purchase, refinance, loan modification, bankruptcy and more. Please see our company website at www.LundquistCompany.com and feel free to call 916-595-3735 or comment above for more information.

http://www.lundquistcompany.com/blog  Anatolia Market Trends: 95742 Zip Code in Rancho Cordova – Past 90 Days

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I shot this video below earlier while in the field in between inspections. There are quite a few people searching for information on the “Capital Village” neighborhood in Rancho Cordova and this site is getting a good amount of hits on the subject. I figured it would be relevant then to shoot a little informative video about this Rancho Cordova subdivision.

 

Let me know if you have any questions about Capital Village, the local real estate market or if you have any potential real estate appraisal needs. As an experienced FHA approved real estate appraiser in the Sacramento area, I am glad to be in business and to serve my client’s needs. Please contact me at 916-595-3735, www.lundquistcompany.com or LundquistCompany@gmail.com.

http://www.lundquistcompany.com/blog  A Video Tour of “Capital Village” in Rancho Cordova: June 2009

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Yesterday I took some photos from the field of the “Stone Creek” neighborhood in Rancho Cordova.

Stone Creek is a fairly new community within Southern Rancho Cordova in the 95670 zip code just South of Highway 50 in between International Drive & Mather Air Field basically. Stone Creek has a unique plan in that it has a large bike/walking path that basically surrounds the entire subdivision. Additionally, Stone Creek has a very nice 21-acre park (Stone Creek Community Park).

This neighborhood is not difficult to spot since there is a giant water tower on the Eastern end of the tract. Have you seen this one while traveling South on Sunrise Blvd?

2009-06-04-165303

Stone Creek is just North of Mather Air Field and there is still some vacant land to be built on (probably when the market rebounds). The image below is of the Stone Creek community in the background along with vacant land in the foreground.

2009-06-04-164555

This is a view of part of the bike trail/path along the perimeter of the subdivision.

2009-06-04-164604

I am very familiar with the Stone Creek neighborhood from my real estate appraisal experience within the community. If you have any questions about Stone Creek or any potential real estate appraisal needs, please contact me at www.lundquistcompany.com or 916-595-3735.

http://www.lundquistcompany.com/blog “Stone Creek” Neighborhood in Rancho Cordova: Photos From the Field

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Here is a quick post to show what you can buy a house for in the 95670 zip code in Rancho Cordova these days. It looks like there are some good deals, huh? The 95670 zip code covers the North side of the freeway (“Riverside” portion) as well as some of the Southern side of Highway 50 (Stone Creek, Capital Village, some older tracts). There are currently 193 listings in MLS for detached single family residential properties.

rancho-cordova-listings-june-2009

If you have any questions about the Rancho Cordova real estate market, feel free to give us a call at 916-595-3735 and see www.lundquistcompany.com or www.ranchocordovaappraiser.com

http://www.lundquistcompany.com/blog  Rancho Cordova Listings in the 95670 Zip Code: June 2009

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Capital Village is a planned community in Rancho Cordova built by Beazer Homes (construction is ongoing still). Within the development there are a combination of detached and attached housing units ranging from one to three stories. The community has two parks, access to local commercial retail shops within walking distance, active residents, and a convenient location within close proximity to many local employers (and Rancho Cordova City Hall).

capital-village-rancho-cordova-4

There are four housing styles within Capital Village:

  • Bungalows:  1 and 2 story properties on the Eastern side of the development.
  • Reflections:  Units along and near International Drive that are 2 and 3 stories in design. These units were previously called “Brownstones” and the word is that many residents still refer to them as such.
  • Fusion:  As pictured above, these multi-colored attached units are hard to miss when driving through Capital Village. Fusion has a higher HOA fee than the other three property styles due to being attached. There are actually two separate HOAs within the Capital Village development (one for attached units and one for detached units). The Fusion units were formally called “Villas” but Beazer changed their name to Fushion.
  • Cottages:  Units with a garage on the front of the house and located between Bungalows and Fusion. All other units have garage access in the rear.

capital-village-in-rancho-cordova-market-trends-april-2009

Capital Village Real Estate Data in Rancho Cordova (MLS Data):

  • 8 current Active listings in MLS (note: Beazer very likely has other properties that are listed for sale but are not on MLS).
  • 3 current Short Sale Active listings
  • 21 current Pending listings
  • 3 short sales listings are between $195,000-$200,000
  • Pendings range from $184,664 to $315,759
  • High MLS sale in past 12 months was $312,889
  • Low MLS sale in past 12 months was $190,000

If you have any questions about Capital Village or the data above, feel free to contact me at 916-595-3735 or www.lundquistcompany.com or “ryan [at] lundquistcompany [dot] com”. Additionally, if you purchased your home when the Capital Village community was brand new and you feel that your property has declined in value over time, but the Assessor has not adjusted your property taxes accordingly, let’s talk.

NOTE: The data above is based on properties of all sizes and design (attached and detached). Beazer Homes has other properties which have sold maybe higher or lower than the data above indicates. Beazer is tending to list many of their properties on MLS, but they do not list all of them.

http://www.lundquistcompany.com/blog  Real Estate Market Trends in “Capital Village” in Rancho Cordova

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