First Quarter 2010
REAL ESTATE in REVIEW
Some might say that our real estate market has had an incredible downturn, but I like to view it as an opportunity that we may never see again in our lifetime. With the federal and state tax credits available, coupled with low interest rates, Buyers are able to purchase a home at affordable prices seen ten years ago and Sellers are experiencing multiple offers when their homes are priced with the current market value. If these same Sellers are in the market to move up, move over or move down, they, too, will see these same amazing interest rates and affordable prices on their purchase.
Here’s the past 8 years at a glance:
|
1 month
|
1 year
|
8 years
|
|
Dec 09
|
Mar 10
|
% Change
|
Mar 09
|
Mar 10
|
% Change
|
Mar 02
|
Mar 10
|
% Change
|
|
Avg. Sq. Ft. Price
|
124
|
120
|
-2.7%
|
115
|
120
|
+4.8%
|
131
|
120
|
-8.5%
|
As you can see, in 2002 our ‘price per foot’ was averaging $131 in Sacramento County. Today it’s $120. At the peak of our market in 2005, it was $252! So, homes today are selling for 45% of what they were during our boom. Every region varies. Some have been hit harder than the 55% decline and others not as much, but overall the entire region is ON SALE.
What are you waiting for? Surely you know someone who’s thinking of buying or selling! If not you, who?
For more information on the current and upcoming tax credit, go to http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml
I can also provide you with customized Trendgraphix® Reports for your neighborhood every month, showing you the ebb and flow of your market. If you’re not already receiving these from me, drop me a note. I’m happy to add you to my list of “inquiring minds” when it comes to home values. Even if you’re not in the market to move, it’s still interesting data to review each month.
If you or someone you know needs assistance on information regarding Short Sale vs. Foreclosure, I can help with that, too. With so much information in today’s market, allow me to be your Real Estate Resource! If I don’t know the answer, I can direct you to someone who will.
I sincerely appreciate your referrals and would consider it a compliment to assist you or someone you know in participating in the best real estate market we’ve seen in a decade.