Market Trends

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“Tahoe Park” Neighborhood Real Estate Market Data in Sacramento: The Past 90 Days

October 29, 2009 in Market Trends, Tahoe Park | No comments

What’s the latest in the “Tahoe Park” market in Sacramento? Below is some basic data based on information from Sacramento MLS as of 10/28/09. The points on the graph represent sales within the entire Tahoe Park neighborhood – all four sections.  I wrote previously about the different areas of Tahoe Park HERE as well as a look at thirty-six months of the market in Tahoe Park.

Tahoe-Park-Sacramento-Sales-2009-October

Tahoe Park Real Estate Market Data:

  • 36 sales over the past 90 days (07/28/09 – 10/28/09)
  • 15 current Active listings
  • 17 current Active Short Sale listings
  • 26 Pendings
  • Low sale in past 90 days: $67,000
  • High sale in past 90 days: $349,500

This graph is a bit interesting. It looks almost like a fork that represents two different segments of the market – a lower end and a higher end. So what does each of those lines represent? Now there is a great question worth exploring. Any thoughts? Let me know if you have any questions or a need for further research. Call me at 916-595-3735 or email ryan@lundquistcompany.com.

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Anatolia Neighborhood in Rancho Cordova: Sales, Pendings and Listings over the past 90 Days

October 12, 2009 in Anatolia, Market Trends, Rancho Cordova | No comments

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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City of Foslom Market Trends: Sales, Pendings & Listings (July 2009 to October 2009)

October 12, 2009 in Folsom, Market Trends | No comments

What’s been happening in Folsom’s real estate market lately? Here is a scatter graph depicting the past 90 days of sales (green), actives (pink) and pendings (blue). What do you see? The information is based upon single family detached properties in Sacramento Metrolist as of 07/12/2009.

City of Folsom Sales Actives Pendings July to October 2009 Lundquist Appraisal Company

Just a quick post. Let me know if you have any questions or insight. Feel free to comment above, email at ryan@lundquistcompany.com or give me a call at 916-595-3735.

http://www.lundquistcompany.com/blog City of Foslom Market Trends: Sales, Pendings & Listings (July to October 2009)

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What is the relationship between home prices and unemployment? A look at Rancho Cordova

September 30, 2009 in Market Trends, Rancho Cordova, Unemployment | 1 comment

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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City of Galt Market Trends & the Value of Age

September 21, 2009 in Galt, Market Trends | No comments

Over the years I have done quite a bit of appraisal work in the city of Galt. If you are not familiar with the area, then know that Galt is located off Highway 99 in Sacramento County just North of the San Joaquin County Line and South of the city of Elk Grove. The Highway basically divides Galt into two portions (Western & Eastern), and in general the Western side contains older houses (though there are still patches of newer developments as well as many properties built in the early 1990s in particular).

The information in the graph below is based upon sales in Sacramento MLS for detached single family residential units.

City of Galt Market Trends Graph by Lundquist Appraisal Company September 2009

Instead of keeping all sales in the graph as one color, I thought it would be more interesting to plot properties built after 2000 (blue dots) against homes built before 1999 (red). What do you see in the graph? It looks like the panoramic view of sales is showing that buyers are willing to pay higher amounts for properties that are newer in age. This isn’t a revolutionary concept, but it’s interesting to see on paper. Yet at the same time one notices there are many properties built prior to 2000 that compete with the upper end of blue dots between $250-400K. Overall though, we see that the lower end of the market has fewer blue dots, doesn’t it?

I suppose if we really wanted to segment the entire Galt market in the graph, it would be most prudent to further break down age categories into something like the following: pre-1900, 1900-1940, 1940-1960, 1960-1979, 1980-1989, 1990-1999, and 2000-2009. And then we could start segmenting other factors like square footage, location, lot size, bedroom count, condition, upgrades, etc…. Okay, this is starting to sound like what I do everyday as an appraiser. 

By the way, if you have not seen our Galt video on YouTube, check it out HERE or below. The photos are original and they help to show some of the different types of property found in Galt – on both sides of the freeway. The city of Galt has some neat historical properties and also really typical tract homes.

 

Feel free to comment above or contact me at info@lundquistcompany.com or 916-595-3735 if you have any questions. If you are a Galt home owner, what is it you love about your city?

http://www.lundquistcompany.com/blog City of Galt Market Trends & the Value of Age

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Quick Data: Antelope Foreclosures & Short Sales

September 17, 2009 in Market Trends | No comments

Quick data on Antelope, CA based on information provided in Sacramento MLS for detached single family residential properties: 

  • There were 832 sales in Antelope within one year of 09/14/2009.
  • 63% of these sales sold as “bank-owned”
  • 20% of the sales sold as Short Sales
  • 206 sales over the past 90 days
  • 38 current Active listings
  • 203 current Short Sale Active listings
  • 112 current Pendings.

Interesting stuff. I typically run city-wide data like this for appraisal reports and then of course neighborhood-specific data for the market area boundaries for the property I am appraising (often times a certain subdivision). This helps me see both the overall market and then the smaller neighborhood in the context of the real estate market at large.

What do you think of the data? Does anything stand out to you? Do you think most buyers look at figures like this to determine the health or lacktherof in a community (before they buy)? Do buyers care? Comment above or call me at 916-595-3735 if you have any questions.

http://www.lundquistcompany.com/blog Quick Data: Antelope Foreclosures & Short Sales

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City of Ripon Real Estate Market Trends: Past 3 Years of Sales in MLS

September 10, 2009 in Market Trends | No comments

A quick post. What’s been happening in the Ripon real estate market over the past several years? The city of Ripon is located in Southern San Joaquin County just North of the Stanislaus County line. The trend graph below accounts for all sales in MLS over the past three years (detached single family residential properties only).

City of Ripon Sales 2006 to 2009 Real Estate Trend Graph Lundquist Appraisal

What do you notice in the trend graph? Does anything stand out to you? Feel free to comment above. If you have any questions, don’t hesitate to call 916-595-3735 or email info@lundquistcompany.com.

http://www.lundquistcompany.com/blog City of Ripon Real Estate Market Trends: Past 3 Years of Sales in MLS

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Market Trends in the City of Lincoln (CA)

September 10, 2009 in Lincoln, Market Trends | No comments

I am working on an appraisal right now in the city of Lincoln. I am running some general data for the entire city and figured I’d share it here. I like to compile city-wide data and then most-importantly, neighborhood specific data. This helps me see the overall market in which the neighborhood is located, as well as the neighborhood itself.

What do you notice below on the trend graph? Does it look like there is a slight upswing on the bottom right corner? Take a peak at some other recent graphs on my blog and see if you can find this same phenomenon elsewhere. What do you think this means?

City of Lincoln Real Estate Sales September 2009 Trend Graph by Lundquist Appraisal

Lincoln, CA Real Estate Market Trends:

  • 978 sales over the past 12 months
  • 45% of 978 sales were bank-owned (REO)
  • 20% of 978 sales were short sales
  • 272 sales over the past 90 days
  • 199 current active listings
  • 247 current short sale listings
  • 159 current pending properties
  • Lincoln unemployment rate is 20.1% for July 2009 (was 19.3% in May ’09)

The information above is based on Sacramento Area Metrolist for single family residential detached properties. The graph includes sales under $1,000,000 because there were few sales above $1,000,000. If you have a need for further research or more in-depth analysis or a valuation report, contact me at 916-595-3735 or ryan@lundquistcompany.com.

http://www.lundquistcompany.com/blog Market Trends in the City of Lincoln (Placer County, CA)

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How Many Bank-Owned Properties Sold in the City of Auburn Last Year?

September 1, 2009 in Market Trends | No comments

025It always interests me to run data to see how many of the sales in an area or city were bank-owned or short sales over a certan time period. This type of information is just one piece of the puzzle for observing the health of lack thereof in a real estate market. Generally speaking, the lower the rate of foreclosure, the better off it is for the market.

City of Auburn Real Estate Data as of August 28, 2009:

  • 30% of sales over the past year were bank-owned properties
  • 11% of sales over the past year were short sales

It seems unfortunate to think that 3 out of every 10 sales within the city of Auburn were bank-owned properties, but at the same time, when we compare this rate to other places in the region, it’s important to keep things in perspective. For example, the city of Roseville saw 39% of its sales over the past year as bank-owned and 18% as short sales. Rocklin had 36% of its total sales sell as foreclosures and 19% as short sales. Newcastle came in higher at 40% of sales being bank-owned and 16% of sales being short sales (it’s important to keep in mind, however, that there were only 45 sales in Newcastle and less data can skew results). Or at an extreme in the Region as a whole, take the city of Los Banos in the Central Valley. I mentioned in a previous post that 89% of sales over the past year in Los Banos were foreclosures and 4.5% were short sales.

The data above is based on information provided in Sacramento MLS for single family detached residential properties having sold within one year of 08/28/2009.

http://www.lundquistcompany.com/blog How Many Bank-Owned Properties Sold in the City of Auburn Last Year?

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Quick Statistics: Los Banos & Patterson Sales in 2008-2009 – Foreclosures & Short Sales

August 28, 2009 in Market Trends | 2 comments

los banos and patterson mapThe cities of Los Banos and Patterson are located in the Central Valley of California off of Interstate 5 in Merced County and Stanislaus County respectively. If you are not from the area, but you have traveled through California along I-5, chances are you have at least seen exit signs for both Patterson and Los Banos. I have appraised many properties in both cities over the past year and I figured I would throw up some quick and informative data as an FYI. The data below is based upon the past twelve months of sales in MLS for single family residential detached properties.  

City of Los Banos Real Estate Market Data: 08/28/08 – 08/28/09

  • Last year the city of Los Banos in Merced County had 1555 sales
  • 1379 of these sales were bank-owned properties (89%)
  • 70 of these sales were short sales (4.5%)
  • 93.5% of total sales in Los Banos were either bank-owned or short sales
  • Los Banos has a 18.4% unemployment rate as of July 2009 (EDD)

Los Banos CA Sales August 2008 to August 2009 Trend Graph

City of Los Banos Links:

City of Patterson Real Estate Market Data: 08/28/08 – 08/28/09

  • Last year the city of Patterson in Stanislaus County had 1108 sales
  • 989 of these sales were bank-owned (89%)
  • 83 of these sales were short sales (7.5%)
  • 96.5% of total sales in Patterson were either bank-owned or short sales.
  • Patterson has a 21.9% unemployment rate as of July 2009 (EDD)

Patterson CA Sales August 2008 to August 2009 Trend Graph

City of Patterson Links:

What do you notice form the data above? Does anything stand out to you? Why do you think both of these communities have been plagued by foreclosures as well as a high unemployment rate? Feel free to share your thoughts by commenting above (just under the post title).

Please contact me at 916-595-3735 or info@lundquistcompany.com if you have any questions about the data above or a need for more detailed analysis or valuation.

http://www.lundquistcompany.com/blog Quick Statistics: Los Banos & Patterson Sales in 2008-2009 – Foreclosures & Short Sales

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Real Estate Market Trends: Past 36 Months of Sales in Folsom, El Dorado Hills, Rancho Cordova & Citrus Heights (August 2006 – August 2009)

August 28, 2009 in El Dorado Hills, Folsom, Market Trends, Rancho Cordova | No comments

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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Listings in Mather, CA for August 2009 (Independence at Mather)

August 17, 2009 in Market Trends, Mather | No comments

What can you buy a house for in Mather these days? Here are all current listings as of August 17, 2009 within the Independence at Mather subdivision:

  • 42 total listings (including pendings)
  • 9 Active listings
  • 20 Active Short Sale listings
  • 13 Pending properties
  • 18 sales over the past 90 days
  • Low Sale over past 90 days:  $161,700
  • High Sale over past 90 days:  $399,000
  • 17 of 18 sales under $290,000

Independence at Mather Real Estate Listings in August 2009

I am very familiar with the Mather real estate market. If you have any questions or a need for further research, feel free to give me (Ryan) a call at 916-595-3735 or see www.lundquistcompany.com. 

http://www.lundquistcompany.com/blog  Listings in Mather, CA for August 2009 (Independence at Mather)

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