Where home prices crashed early, signs of a rebound

Hard-hit areas, such as Sacramento, Las Vegas, parts of Florida and California’s Inland Empire, appear to be among the first cities in the nation to reach the early stages of recovery, as investors and first-time buyers compete for bargain-priced foreclosures.

•  By some indications, the market could be close to a bottom.  Pending home sales – homes that are under contract, but have not yet closed – and construction spending rose in March.
• When a market reaches bottom, foreclosures usually stop piling up and banks become more willing to issue loans, confident that the collateral backing them will not continue to decrease in value.
• The first-time home buyer tax credits from the federal and state governments, coupled with favorable home prices and near record-low interest rates, led to an increase in home sales in March.  Sales of existing, single-family homes rose 63.8 percent in March compared with the prior year.   Monterey County reported a sales increase of 248.7 percent and the High Desert region saw sales increase 172.7 percent compared with last year, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
• The median price for the state also increased in March, rising 2.2 percent in month-to-month comparisons.  March marked the first monthly increase since August 2007, while the statewide median price has remained in the $250,000 range for the past three months.

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The Home Team Girls Realtors® Real Estate Team helping you with Investment properties, Homes For Sale, Relocations, Seller Strategies, Certified Buyer’s Agent, Serving the Military and Veterans, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

Tri County Real Estate November 2008 Market reports

Market Snap Shot for the Tri County El Dorado, Placer and Sacramento Counties in the Northern California Real Estate Market.

November 2008 Market reports

 

Good news- 2 Years Basic Absorption is leveling out. Old inventory in grey is declining,

Homes under contract are up 95% since 2 years ago.  Inventory is down by 19%.

 Most of the homes that are not selling are short sales that soon could be the next bank fore closures.  

 

 

Median Price Sold is down by 46.8% since the last 2 years. The only good news on that, more people can enter into the market.   We are getting closer to the bottom and with rates where they are, this is still a good time for new home buyers to enter into the market. With VA loans and other FHA financing options, some qualified home shoppers can still get a home with little money down.

 

 

 

Months Supply of Inventory is down by 58% since 2 years ago. It will take 4.2 months to sell the inventory we have now.

 

 

If you are a new home buyer, give us a call to see if this is the best time for you to enter into the market. Do you know what the tax advantages and savings you have by buying a home. Call us to find out. 

 

 

 

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

 

 

Temporary Halt to Foreclosure Sales

Good News for home owners -Fannie Mae has issued the following Lender Letter:

Issuance of a Temporary Halt to Foreclosures and Evictions-

 

Fannie Mae has issued Lender Letter 04-08 announcing that it will halt all foreclosure sales on occupied single-family properties that are scheduled to occur between November 26, 2008 and January 9, 2009. During this period, servicers are encouraged to continue working with borrowers whose foreclosure sales have been halted to pursue possible workout solutions.

 

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

 

 

 

 

Placer & El Dorado County Real Estate Statistics For October 2008

 

Data for resale single-family detached homes that closed escrow.

Percent changes are from the same month one year earlier. 

 

 

 If you are interested in knowing the value of your home, feel free to email us and we will be happy to assist you.

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.

 

Placer County September 2008 Real Estate Sales Statistics

Data for resale single-family detached homes that closed escrow in Placer County September 2008. Percent changes are from the same month one year earlier.

You can see that sales are up 50- 200% since last year this time. Roseville and Rocklin areas Median Price % is down -7% to-16% from last Sept.

 

If you are interested in knowing the value of your home, feel free to email us and we will be happy to assist you.

 

 

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls. 

 

Market Reports Oct 2008 Tri County Northern Ca.

 

Placer County, Sacramento County and El Dorado County Market Reports for Oct 2008

 

The Following Chart shows the Median Prices for the last year in the Tri-County area.

You can see that home prices have gone down by 41% and are stabilizing or flatting out- a good sign that prices are close to bottoming out.

Months Supply of Homes

 

There has been a decrease of 50% supply of homes over the last year. Also a good sign as we see home prices leveling out. Once the home inventory supply rate levels out and there are more buyers looking for homes, our market will stabilize. This Oct  there were 4.7 months supply of homes this year as compared to 9 months of supply the same time 2 years ago.

The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified  Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.