Laguna Beach

Christmas is past and we are wrapping up 2007. I thought this holiday season might be slow with some time to catch up on some of those things you always put off, but that was not the case. Of course some of my “busy” has been related to starting MagnumOne Realty but I do have a new listing that I am excited about. It is in the Barrett Ranch area of Antelope which is so new that the streets of this subdivision are not shown on the major map sites or my car GPS system.

What is so interesting about the Laguna Beach Way home is that is loaded with upgrades and virtually new. A wonderful couple bought it from the builder and added almost every upgrade thinking this would be their dream family home for years to come. Plans changed for various reasons and they moved out leaving this wonderful home and all the extras for someone else. Take a look at it, we have some good photos, and let me know what you think.

New Record Every Day

Inventory of homes available for sale in the greater Sacramento area continues to grow. Looks like we will end July with over 18,400 homes on the market which is 3.5 percent more than a month ago and a whopping 44 percent increase from where we were six months ago. During the same time the median asking price has dropped 2.5 percent in the past month and 3.8 percent in the past six months to $385,000. It wasn’t that long ago that it was holding steady at the $400,000 level. For a detailed look at inventory here in Sacramento, check out HousingTracker.

I’d say we will top out and begin a gradual decline in available homes before we hit the 19,000 level and maybe the median asking price will slip to $383,000. By the end of August we will see declining inventory and maybe even some firming of asking prices.

Speaking of inventory of available homes, I added a new listing yesterday. I am excited about it because this home shows like a page out of the Pottery Barn catalog. It is a beautiful home located in the Sierra Valley Oaks subdivision off of Sierra College Blvd. in Rocklin. The home, on Tanus Circle, is a 4 bedroom, 3 bath beauty in a great neighborhood with wonderful schools.

Congratulations to Michael and Kelly who took their State of California Real Estate License test on Saturday and both passed with flying colors.

Willard Way

Our summer days seem to be passing by a bit faster than I wanted and there have not been many, if any, “lazy days” yet. The real estate activity reports for June were negative, with most parts of the Sacramento area market showing fewer sales than last year, growing inventory and continued downward pressure on asking prices.

I have a great listing in Rocklin on Willard Way that seems to stereotypically fit into what the June real estate reports are showing. It is a well maintained older home and is priced aggressively for the square footage of living space but doesn’t stand out in the crowd when it comes to showings and location. This home has a lot to offer but is not getting the showings or interest we want. Maybe it is the buyers who are enjoying those fabled “lazy days of summer?”

With so few showings, to get some honest feedback, I have the home on the Lyon office tour this week and that will give us a better feel for how others feel the house shows and the price it is being offered at.

Short Sale Listing

I added a new listing this week and it is a great home with a short sale possibility. This home was purchased a few years ago at the top of the market, the owners then added a number of wonderful upgrades and improvements but now that they have moved from the area are, like many owners who bought in 2005, owe more on the house than the current market can support.

The home is a single story with over 3,200 square feet of living space. In addition to the 4 bedrooms and 3 baths, this home has a home office and a bonus room which would be perfect for a home theatre. There is a covered patio, professionally landscaped private backyard and a pool with solar heat. If you are in the area, come by and take a look at Miravista Drive in Rocklin.

If you want to learn more about short sales and how they work, check out my recent article on the subject, “Short Sales: Road to Riches?”

A look at Placer County and New Listing

Looking a bit closer at the recent SacBee story, “Home sales seek bottom” we see that Placer County real estate may be looking harder for the bottom than some of the other local areas that make up the greater Sacramento real estate market. The median sales price for existing homes sold in May dropped $10,750 from April to $437,750. This is off 9.6 percent from a year ago. This is the largest one year price decline in the four major counties, Placer, Sacramento, El Dorado and Yolo. The good news in Placer County is sales volume. Including condos there were 512 closed escrows in May. This is up sharply from 378 in April and is on par with May 2006 when there was 516 closed escrows.

Hopefully we will continue to see buyers out looking, especially in Rocklin where I have a new listing. Check out this great 4 bedroom, 3 bath home off of 3^rd Street on Willard Way. It is a great home, with loads of extras and ready for a new family. With almost 1,900 square feet of living area you won’t find anything this nice priced below $200 per square foot.

Busy Time of Year

May has traditionally been a busy time of year for me and my business and so far this year is not an exception. I have a number of active buyers and sellers I am currently working with and enjoying, the end of school activities are starting, and we seem to always have something going on at home. Over the weekend we started marketing our newest listing, Beretania Way, a great 4/5 bedroom home in Natomas. With almost 3,000 square feet of living space and a huge backyard this is a great family home with easy access to downtown. I also out with buyers on Saturday, looking for a home in the Granite Bay – Roseville – Rocklin area. I know I have been talking about growing inventory and buyers having lots to choose from but the truth is, when you are looking for the perfect home, sometimes it is difficult to find.



The reason buyers sometimes experience difficulty finding their new home is just the opposite of what you would expect when you are in a buyer’s market like we are now here in the Sacramento area. Because there are so many houses to choose from and because most sit on the market for months, buyers, on occasion, look for the house that meets everything they want and get the feeling they have all the time they need to find it. Add to that a media fueled belief that the longer it takes to find the house the cheaper it will be. Invariably these buyers have to lose a house or two before they begin to compromise and find the “not perfect” but right house.

Weekend Ahead

Yes, it is Friday and the end of a long week for many but Saturdays and Sundays are not always days of rest for me. This weekend I am holding an open house for Randi and Tony in Yuba City and if you are in the area, please stop by and say hello. For more information on the open house and directions, click here.

Looks like my Washington DC family are going to be moving to California soon. The great house we found for them in the Folsom area is moving along through the escrow period and with some final negotiations with the seller done we should be closing next week.

My listing in North Highlands closed last week and I have to admit it was a pleasure working on that transaction. My “seller” lived in the house for more than 50-years and raised a family there. Today another young family is there starting their journey and although they may not live in the home as long, you can tell they love the place as much as the original owner and are so excited to have their own home. The money from the sale will support my client in here new retirement surroundings. Sometimes being in this business has it very satisfying moments.

Ready to Sell

My listing in the Diamond Woods development of West Roseville is a great house but has not sold yet. The owners of Greywood Circle want to complete their move and are ready to sell. Today we have made a significant price reduction to make that happen. I don't normally use my blog to advertise (well not too often!) but wanted to alert any potential buyers that we have a great house that is very aggressively priced at $550,000. If you want to see it or know someone who is, let me know and I will personally pay $500 of your closing costs or provide you with a gift certificate to Lowes or another store of your choice. Call me or email me today and let me know you read this offer on my blog.

Inventory and Listings

This week, HousingTracker, is reporting inventory of available homes in the greater Sacramento area is down 38 to 12,747 as of the past week ending February 5. The median price has been holding steady at about $400,000. The one month changes they reported are a decline of 1.2 percent in median price and a 4.3 percent growth in inventory. Seeing inventory holding and not growing fast is a good sign the spring selling season has not started. Another sign is the weather which is grey and wet today.

Speaking of inventory, our Jalone-Butler group added a new listing in Rocklin last week and it got an unheard of showing on Super Bowl Sunday! I have new Yuba City listing coming on the market this week and you can get sneak preview of it later today. It is an awesome townhouse and has the best location in the desirable planned community, The Grove.