Rancho Cordova

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Is that a ski slope? Nope, it’s a trend line of the housing market.

April 9, 2009 in Market Trends, Rancho Cordova, Sacramento | No comments

I had a conversation today with a friend about Rancho Cordova real estate market trends and I made this graph to show her in an image of what words so often say – that the market has declined.

rancho-cordova-sales-2006-2009

When making trend graphs in many local areas and cities in the Greater Sacramento Region, I often think the overall trend looks like a ski slope. This one above is maybe a bit more bunny-slope-like, but still, you get the point. If you have questions about the local real estate market, feel free to contact me at 916-595-3735 or www.lundquistcompany.com

A Closing Thought:  Looking at market trends doesn’t often times “bring gladness to the heart of man” so to speak (that was a quote from Chimay, if you follow), so let’s remember that relationships and so much of life can be wonderful even though home values aren’t much to brag about right now.

http://www.lundquistcompany.com/blog  Is that a ski slope? Nope, it’s a trend line of the housing market.

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New Foreclosures Coming in Sacramento Region: Comparing Data in RealQuest & Realist

March 17, 2009 in Market Trends, Resources | 4 comments

072308ins006aOne of the key factors for our market to improve and get back to “normal” is for the oversupply of foreclosure properties to be absorbed. Basically, it’s a messy real estate market out there in the Sacramento Region, and the mess has to be dealt with to move on.

Sacramento MLS allows us to analyze past sales as well as current listings to see how many properties sold as bank-owned or short sales and so on. What about future listings though? How many foreclosures will be coming to the market? Two interesting data sources for this type of information are Realquest and Realist.

RealQuest provides a free service online for anyone to view properties which are in “Pre-foreclosure” (coming soon to the market unless something happens to stop them – loan modification, catch up on payments, legislation, act of God, etc…), “Auction” (you’ve seen the commercials for the auction properties where “there are 2000 properties to sell off and they MUST sell this weekend”), and “Bank-Owned” (yes, the bank has title already).

This is what RealQuest looks like when doing a property search:

folsom-realquest1

Realist is also a service of First American Core Logic and is commonly known as “Tax Records” for Sacramento Metrolist Subscribers (a paid service). Realist has a new “foreclosure activity” search feature that covers the same categories that RealQuest does. But when looking up data in both RealQuest and Realist, there is definitely a difference. Sometimes the data is very similar, but other times the figures are way off. This may be due to the way RealQuest and Realist categorize their information as well as the difference between a free service (RealQuest) and a paid service (Realist). Ultimately there could be a number of factors why the data is so different, but it’s not the purpose of this post to go into depth about that. The real thrust here is to show that there is a new wave of foreclosure properties coming and we ought to be prepared for that. Let’s continue to be full of hope as well as avoid a lifestyle of worrying, but let’s keep an eye on what is going on.

Market Data from RealQuest & Realist:

City of Folsom in Sacramento County

  • Preforeclosure Properties: 296 (RealQuest) 186 (Realist)
  • Auction Properties: 46 (RealQuest) 79 (Realist)
  • Bank-Owned Properties: 158 (RealQuest) 262 (Realist)

City of Citrus Heights in Sacramento County

  • Preforeclosure Properties: 309 (RealQuest) 435 (Realist)
  • Auction Properties: 57 (RealQuest) 161 (Realist)
  • Bank-Owned Properties: 134 (RealQuest) 330 (Realist)

City of Orangevale in Sacramento County

  • Preforeclosure Properties: 136 (RealQuest) 145 (Realist)
  • Auction Properties: 26 (RealQuest) 45 (Realist)
  • Bank-Owned Properties: 126 (RealQuest) 128 (Realist)

City of Rancho Cordova in Sacramento County

  • Preforeclosure Properties: 245 (RealQuest) 256 (Realist)
  • Auction Properties: 32 (RealQuest) 107 (Realist)
  • Bank-Owned Properties: 223 (RealQuest) 298 (Realist)

City of Fairfield in Solano County

  • Preforeclosure Properties: 309 (RealQuest) 710 (Realist)
  • Auction Properties: 51 (RealQuest) 283 (Realist)
  • Bank-Owned Properties: 140 (RealQuest) 745 (Realist)

City of West Sacramento in Yolo County

  • Preforeclosure Properties: 232 (RealQuest) 225 (Realist)
  • Auction Properties: 109 (RealQuest) 114 (Realist)
  • Bank-Owned Properties: 159 (RealQuest) 207 (Realist)

NOTE: The discrepancy in the data above would be very important to research and explain if the data was actually used in an appraisal report or to support value conclusions in any way. It is very important to use the best available data in an appraisal report because solid value must be based upon reliable information.

The data above was really provided as an FYI for those who may be interested. Since RealQuest provides a free service too, go spend a few minutes on their website, see what you can find, and draw your own conclusions about reliability.

If you have any questions or potential appraisal needs, please contact me at 916-595-3735 and www.lundquistcompany.com

http://www.lundquistcompany.com/blog

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Capital Village in Rancho Cordova

March 14, 2009 in Capital Village, Photos from the Field, Rancho Cordova | 5 comments

Here are some images from the field today in the “Capital Village” neighborhood within the City of Rancho Cordova. Capital Village is a new and ongoing project by Beazer Homes. It is distinct locally because of its mixed-use concept and unique design (small lots, 1 to 3 stories, units attached or detached, flat or pitched roofing, vibrant or earth-tone colors, close proximity to commercial retail, two parks…).

Vibrant Colors & Unique Design: 

capital-village-rancho-cordova-3

View of one of the local parks and detached units in background:

capital-village-rancho-cordova-2

Construction is currently ongoing within Capital Village.

capital-village-rancho-cordova-1

In the words of Beazer Homes:

Located in Rancho Cordova, off Zinfandel Drive just south of Highway 50, Capital Village is a progressive new home community featuring a combination of various architectural designs, several popular retail stores and restaurants, a mixed-use town center, numerous parks, a water feature and more! Urban living meets true suburban comfort at the new Capital Village community by Beazer Homes.

Capital Village Links:

If you are a Capital Village home owner, what is it that drew you to this community? And what do you think now that you are there? What commercial retail shops do you want to see come into your neighborhood?

If anyone has appraisal-related questions pertaining to Capital Village, let me know. I am experienced with appraising properties in the Capital Village market as well as the nearby “Stone Creek” area of Rancho Cordova. I can be reached at 916-595-3735 or www.ranchocordovaappraiser.com  And no, I am not paid to advertise Capital Village. I simply mention things I think I worthy of mentioning.

http://www.lundquistcompany.com/blog  Capital Village in Rancho Cordova

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The Anatolia Market in Rancho Cordova: 90 Days

March 4, 2009 in Anatolia, Market Trends, Rancho Cordova | 2 comments

What has been happening in the Anatolia real estate market lately? Anatolia is a planned community located in the Southern territory of Rancho Cordova near Sunrise Blvd. & Douglas Rd. 

Over the past 90 days there have been 93 sales within the Anatolia market area (95742 zip code of Rancho Cordova). These sales are depicted below on the graph:

anatolia-rancho-cordova-past-90-days

There are currently 92 available properties in the Anatolia market (per MLS). It is possible that not all builders within Anatolia are listing their properties on MLS, though it is typical for them to do so in today’s market).

anatolia-rancho-cordova

Anatolia Neighborhood Data in Rancho Cordova, CA:

  • 92 current Active listings (Active, Active Short Sale)
  • 48 current Pending Listings
  • 93 sales over past 90 days
  • Median Price over past 90 days: $300,000
  • Low Sale over past 90 days: $170,000
  • High Sale over past 90 days: $513,000

The information above can be informative to the casual reader who is interested in local data, for the Anatolia home owner, and also for prospective home owners. If you are pondering the data and have questions or any sort of potential appraisal needs, please comment above or contact me at 916-595-3735 or www.lundquistcompany.com

http://www.lundquistcompany.com/blog The Anatolia Market in Rancho Cordova: Past 90 Days

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Property Value in the 95670 Zip Code: Gold River, Gold River Station, Rancho Cordova

March 2, 2009 in Gold River, Market Trends, Rancho Cordova | No comments

Rancho Cordova and Gold River may share a zip code, but they are definitely distinct. The truth is that any city or area has certain neighborhoods or places where properties tend to sell for more for certain reasons – even if they do share a common zip code. This is true in portions of the 95670 zip code, which contains Gold River and portions of the city of Rancho Cordova. 

The graph below analyzes the entire 95670 zip code and contains Gold River area sales in blue and Rancho Cordova sales in red (not 95742 zip code – “Anatolia” neighborhood of Rancho Cordova).  

gold-river-95670-rancho-cordova-95670-12-months-02-13-08-to-02-13-09-sm

“Gold River HOA” excluding “Gold River Station” – 95670:
- 74 sales in past 12 months
- 12% of sales were bank owned
- 2.5% were short sales
- Low Sale: $235,000
- High Sale: $650,000
- Overall Median Price for Past 12 Months: $414,000

Rancho Cordova – 95670:
- 458 sales in past 12 months
- 64% of sales were bank-owned
- 12% of sales were short sales
- Low Sale: $71,150
- High Sale: $580,000
- Overall Median Price for Past 12 Months: $190,000

“Gold River Station” in Gold River – 95670:
- 17 sales in past 12 months
- 41% of sales were bank owned
- 1 short sale
- Low Sale: $263,000
- High Sale: $340,000
- Overall Median Price for Past 12 Months: $315,000

The data above is from mid-February 2009 and is based upon Sacramento Area MLS through a search of SFR properties. It is interesting to see a much higher foreclosure rate in the city of Rancho Cordova in the 95670 zip code in comparison to the Gold River community.

Lundquist Appraisal Company is based out of Rancho Cordova and knows the local area very well. We do also appraise properties within ten counties surrounding the Sacramento area. See www.lundquistcompany.com or www.ranchocordovaappraiser.com for more information.

NOTE: The lower Western portion of the Gold River area is comprised of an area called “Gold River Station”. Since Gold River Station is not a part of the Gold River HOA, it was prudent to look at data separately from Gold River.

http://www.lundquistcompany.com/blog Property Value in the 95670 Zip Code: Gold River, Gold Station, Rancho Cordova

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Project 680: Serving Rancho Cordova & Folsom

February 26, 2009 in Giving Back, Rancho Cordova, Resources | No comments

Blogs can sometimes be hubs where over-sharing takes place, huh. Have you ever read something and thought, “whoa, that was way too much information.” Well, that’s not the vibe here, but I do want to get a little more personal and share something close to my heart.

After learning recently that there were 680 documented cases of homeless students last year within the Folsom Cordova School District, a group of residents and I decided to something about it. We call ourselves Project 680 and we seek to find simple and practical ways to assist these “680″ students located in Folsom and Rancho Cordova. 

The Project 680 Promo Video Explains it All: 

On March 11th, 2009 at 6:30pm we have a community forum set up at 10600 Coloma Road in Rancho Cordova (Cordova Neighborhood Church is giving us free meeting space). We’ll meet with the District Liaison for Homeless Services, have a Q&A, and then take part in discussion as a community about what it can look like to support local students. This is about working together to discover simple solutions to a real problem that is relevant to many areas in the Sacramento Region. You are invited and please spread the word. For more information, see www.cordovatowne.com, leave a comment, or give me a call at 916-595-3735. Thank you.

What does this have to do with real estate appraisal? Not much per se. But isn’t it great when we can pool our resources together to make a meaningful difference in the lives of local students? Isn’t it wonderful when local businesses can network and promote something altruistic that impacts the local community? In both our personal and professional lives we can find ways to bring positive change in our communities, even in this economy - that’s the good stuff in life.

Have a tremendous day of business everyone!!!

http://www.lundquistcompany.com/blog Project 680: Serving Rancho Cordova & Folsom

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The Mather Real Estate Market – Past 3 Years

February 25, 2009 in Market Trends, Mather | No comments

What has been happening in the Mather real estate market? Here is a trend graph of the past 36 months of sales (blue) within the Mather area as well as all current listings (red). What do you notice?

mather-real-estate-appraiser

Mather Data from MLS, DataQuick, and Realist:

  • 24 sales in past 90 days (MLS)
  • 11 sales since January 1, 2009 (MLS)
  • 41 current listings on the market – 10 pending, 18 short sale actives, 13 actives (MLS)
  • Decline of 17.40% when comparing January 2008 home sales with January 2009 home sales (Data Quick HERE)
  • 21 houses in pre-foreclosure (Realist)

There are 1271 homes in the Mather community, which was built by KB Homes, and dreamed up by the Sacramento Housing and Redevelopment Agency. SHRA spearheaded the building project as an attempt to breathe life back into the Mather area when Mather Air Base was closed in 1988 (huge effects in the community and in Rancho Cordova too). Independence at Mather is an HOA with very minimal monthly fees (basically to cover front landscaping – no swimming pool or clubhouse). Mather is close to a local golf course, lake, trails, the Sacramento Speedway, and Mather Airport.

If you are a home owner in Mather, what is it that attracts you to this community? What are the benefits? What are the downfalls?

If anyone needs further information or has any needs for a real estate appraisal in Mather, I am glad to assist.

http://www.lundquistcompany.com/blog The Mather Real Estate Market – Past 3 Years

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Finding Commercial Properties in Rancho Cordova (and Listing them for FREE)

February 24, 2009 in Internet Stuff, Rancho Cordova, Resources | No comments

I referred a Realtor just a few days ago to the Rancho Cordova Prospector website. This website enables anyone to search for available commercial properties within the City of Rancho Cordova (lease or sale) as well as list commercial properties for free.

Go to the website and spend a few minutes getting familiar with it. It is fairly easy to navigate and there is even a FAQ section to help out.

This is what the site looks like:

rancho-cordova-prospector

As an example of the power of Rancho Cordova Prospector, when performing a search for available office buildings to purchase within city limits, the following image came up. I was immediately given all addresses of available properties along with the ability to see APN numbers, square footage, and miscellaneous details.  

ranchocordova_office-salegpweb12592275282891

Moreover, it is possible to further refine your search (as shown below) to  obtain demographics information such as consumer expenditures, local population, workforce, wages, etc… And the icing on the cake is that you can export the data via email, print, Word, Adobe, or Excel.

ranchocordova_gpweb1259240888493

This is a great resource for residents and anyone in the real estate field to know about. No, I am not paid to mention resources like this. When I see something worthy of talking about, I talk.

http://www.lundquistcompany.com/blog Finding Commercial Properties in Rancho Cordova (and Listing them for FREE)

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