Tuesday, March 12, 2013

College Greens / Glenbrook Sales in February 2013 (Sacramento, Ca)

There were 12 homes sold in College Greens / Glenbrook / Larchmont / College Greens East for the month of February, 2013.  That is slightly up from the 9 sold in January, 2013.  Traditionally the neighborhood has a lower amount of sales from December through February.  Here are the addresses and specific information of the sold properties.

Currently there are: 5 Active listings, 1 Active short sale listings, 8 Short Sales waiting for lender approval and 15 Pending Sales.

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell in the 95826 zip code.  Check back each month for the updated statistics, as I keep a close eye on the 95826 zip code, where I live and own rental property.  Let me know if there are any particular properties you have questions about. 

clear skies,
Doug Reynolds

Sacramento leads nation in largest home inventory drop

I've been talking about how low the housing inventory is for over six months now.  We are at an all time low in housing inventory in Sacramento.  here's a recent article from the Bee discussing how Sacramento is leading the nation in declining housing inventory.  That is what has lead to 25% increases in prices since last year and why Sacramento is being called the best market to sell your house in 2013.


Sacramento Real Estate Inventory at Record low - Doug Reynolds Real Estate - www.SellWithDoug

Sacramento leads nation in biggest drop in homes for sale


Published: Friday, Mar. 8, 2013
The Sacramento metro area leads the nation in an unenviable category.
The number of area homes listed for sale on Zillow was down 48 percent year-over-year in late February, a percentage plunge that topped the 30 largest U.S. metro markets tracked by the Seattle-based company.
Los Angeles was second with a drop of 45.7 percent. By comparison, the national decline was 16.6 percent.
Zillow's report looked at all homes available for sale on Zillow on Feb. 24 and compared the total with the homes available on Feb. 24, 2012.
In the Sacramento metro area, Zillow broke down the year-over-year declines this way: top-tier homes, down 33.4 percent; middle-tier homes, down 53.2 percent; bottom-tier homes, down 61.5 percent.
The area's middle-tier and bottom-tier percentage drops also led the nation's 30-largest markets, according to Zillow.
Sacramento's paltry home-for-sale inventory was only one chapter of a statewide trend.
California metro areas accounted for the top four U.S. markets seeing the biggest decrease in homes for sale over the past year. San Francisco was down 40.9 percent, and San Diego declined 39.4 percent.
Stan Humphries, Zillow's chief economist, said, "The supply of for-sale listings continues to dry up, driven in part by potential sellers trapped in negative equity and homeowners that won't sell out of fear they won't be able to find a suitable home to buy later."
Humphries added, however, that "the impact of constrained inventory will create the solution to the problem. Over the past year, inventory tightness has contributed to increases in home values in many markets. As home values rise, some homeowners will be freed from negative equity and able to list their homes, which will contribute to an easing of the inventory crunch."
Rising home values have been evident throughout the area.
San Diego market research firm DataQuick recently reported that the median price of all homes sold in Sacramento County rose 22.4 percent in January from the same month of 2012 - to $187,000 from $152,750.
In Yolo County, the January median was $250,500, up 26 percent from $199,000 in January 2012.
Kris Vogt, president of the Coldwell Banker Residential Brokerage's Sacramento-Tahoe regional office, said, "We're looking for anything good we can find in these reports. I can tell you that we were seeing a one-month supply (of homes) not that long ago, and now we're seeing just over a one-month supply.
"It's not huge, but it is some increase."
On Thursday, the Sacramento Association of Realtors likewise noted the decline in homes for sale.
SAR said there were 984 active listings in Sacramento County and West Sacramento at the close of January. That represents less than a month of inventory - meaning it would take about that time to sell all the houses on the market.
SAR calculated the January total as eight-tenths of a month of inventory. In February, SAR said active listings rose to 1,072, representing nine-tenths of a month of inventory.
Historically, a four-to-six-month supply is considered healthy.
Vogt speculated that, with rising home values, some area homeowners are likely "getting to the point where they're thinking 'maybe I can sell,' when they couldn't a month ago, or maybe they were underwater."
Vogt does not expect a land rush of sales activity in the upcoming spring/summer months, but he expects a gradual thawing in the local market.
"We're trying to get the message out that the market has changed in terms of increased sales prices," he said.

Read more here: http://www.sacbee.com/2013/03/08/5245621/sacramento-leads-nation-in-biggest.html#storylink=cpy
clear skies,
Doug Reynolds

Monday, March 11, 2013

Sacramento: 2013 Best Place to Sell Real Estate in USA

Sacramento County Real Estate purchases types of sales - Doug Reynolds Real Estate
The new year started on a positive note in January, with inventories at record lows and list prices holding steady on a year-over-year basis. Whether this shows a continuation of the nascent housing recovery into 2013 will depend on a variety of factors, including the strength of the overall economy, the cost and availability of mortgage credit, consumer expectations regarding future housing prices, and the success of continuing efforts to stem the flow of new foreclosures.
If inventories remain low — and if list prices begin to rise during the next few months, as they did last year — conditions are ripe for additional house price appreciation in 2013. However, such gains are likely to be concentrated in markets already well into their recovery process, such as California, Phoenix, Seattle, Washington, D.C., and many sand states.
2013 Best Places to Sell
With two months remaining before the home-buying season opens, sellers have a huge advantage. In tight markets, such as the top five “Best Places to Sell,” sellers benefit from better prices than they’ve seen in years
Best Places to Sell
  • Sacramento, CA. In recent months, Sacramento has experienced dramatic declines in inventory levels, reporting 67.20 percent fewer homes for sale in January than a year ago. Record low inventories have led to a 40.20 percent increase in median prices, yet demand is strong, with properties spending less than a month on the market. Sellers here can anticipate quick sales and primo prices.
  • San Jose, CA.  Ranking fourth in the nation in terms of tight inventory, supply clearly is not keeping up with demand in Silicon Valley. Prices are up nearly 25 percent compared with this time in 2012 and still climbing, but not as quickly as in Sacramento. The region’s strong economy is driving up both rents and home prices.
  • San Francisco, CA. Prices have risen dramatically, inventories are down drastically and properties are selling in less than two months. The inventory shortage created a powerful sellers’ market where list prices rose more than 20 percent in the past year, a sure sign that sellers can anticipate a profitable spring season.
  • Phoenix-Mesa, AZ.  Once the hottest market for foreclosures, Phoenix alternately became a hub for price increases in 2012. List prices have increased 23.59 percent since January 2012, and inventories decreased 15.88 percent since a year ago. In recent months, price and supply fluctuations have stabilized, so buyers should be able to find affordable properties if sellers take advantage of the improving price picture and list their homes this year, increasing supply.
  • Washington, DC. List prices have improved a respectable 16.33 percent in the D.C. market during the past 12 months, and one reason is a 30.77 percent decrease in inventory. With a median price of $429,900, D.C. is one of the nation’s priciest markets, and if inventories don’t grow substantially between now and cherry blossom season in March and April, prices will continue to rise. For locals thinking about selling, this looks to be one of the best markets in years.
clear skies,
Doug Reynolds

Monday, March 4, 2013

Just SOLD - 2936 Wissemann Drive, Sacramento Ca 95826 - www.CollegeGlenRealEstate.com - Doug Reynolds Real Estate

Just SOLD - 2936 Wissemann Drive, Sacramento Ca 95826 - www.CollegeGlenRealEstate.com - Doug Reynolds Real Estate
JUST SOLD!!! 2/28/2013 in my own neighborhood of College-Glen (Glenbrook / College Greens).  I put this property on the market on a Wednesday, listed at $249,900.  I held it open that Saturday and Sunday and by the next week we had 5 offers and we accepted one above the list price.  This house sold for $254,400.  I've been speciailizing and living in the College-Glen neighborhood for many years.  Right now, the neighborhood is seeing price appreciation due to low home inventory, high buyer demand and low interest rates for buyers.  Prices have been inching up in the neighborhood for almost  a year now and should continue to do so in the foreseeable future.  Please feel free to contact me if you are considering selling your home.  I can provide you a free market analysis.  ANd if you're looking to buy in the neighborhood i can help you with that as well, so we can become neighbors!.

Outstanding 4 Bed, 2 bath College-Glen home w/ open & bright floor plan. Separate family & living rooms for entertaining or step outside to the covered patio next to solar heated pool & hot tub. New Roof in 2005. Energy efficient dual pane windows, ceiling fan, solar tubes & whole house fan. Bathrooms remodeled w/ contemporary & classical elegance. Beautiful bamboo floors & tons of storage w/ custom closet shelving. Craftsman's garage! Great Neighborhood near schools, parks, light rail & shops

clear skies,
Doug Reynolds