For the first 1/2 of the year we were ranked in the top 50 nationwide. We came in at #33 and are very excited. We went down a couple of spots from March-April, so we are pushing to keep that ranking. We have one of the hardest working teams out in the market place!!! Thank you to all of our Buyers, Sellers, and Asset Managers who trusted us!! We a
Tyler Smith % Team make TOP 50 IN THE NATION
re here to serve!!!
More people bought pricier houses in April, signaling the end of Sacramento’s bargain basement-only sales scene.
Buyers picked up the pace from last year in Granite Bay, El Dorado Hills and older neighborhoods near downtown Sacramento, researcher MDA DataQuick reported Thursday. Simultaneously, buyers dwindled in Oak Park, North Highlands and other repo zones of the past two years.
What gives?
There are fewer available repos after a long blowout sale, market trackers say. There’s also a sense at the higher end that this market is as good as it’s going to get for a while.
He said he sold three houses this week valued between $350,000 and $800,000.
The shifting sales mix tugged Sacramento County’s median sales price for resale houses nearly 10 percent higher than the same time last year, DataQuick reported. The median, where half cost more and half less, was $175,000.
Resale home prices also beat April 2009 levels in Placer, Sutter, Yolo and Yuba counties.
Less than half of Sacramento County’s April sales were cheap bank repos – compared with two-thirds a year earlier. With fewer repos this year, sales in the $200,000 to $400,000 range grabbed a larger market share.
“We’ve had 70 people coming through open houses in the $300,000 to $400,000 range,” said Bob Bronswick, president of Coldwell Banker Residential Brokerage in Sacramento and Lake Tahoe.
“That’s the trend across the state,” said DataQuick analyst Andrew LePage. He said sellers are cutting prices and buyers are still getting low interest rates to make deals work.
Sellers are not thinking about 2005. They’re thinking: ‘We might have to take it back to 2003 or 2002 prices and sell it at that.’
This doesn’t mean expensive is back. LePage said homes priced above $400,000 are only a tiny percentage of Sacramento-area sales.
But the shift is part of restoring balance to a market where repos accounted for a majority of sales for much of 2008 and 2009. Banks have cut repossessed homes on the market.
“The way banks are managing it now will probably keep prices from falling much further,” said Rick Sharga of Orange County foreclosure analyst RealtyTrac.
Overall, 3,255 homes changed hands during April in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties, DataQuick reported. That was down slightly from March – and fewer than April 2009.
Analysts attributed the slight drop to fewer repo listings for first-time buyers and people delaying escrow closings until May. The state began offering homebuyer tax credits of up to $10,000 May 1.
New homes accounted for 5 percent of sales in the region.
For the months of January and February we were ranked in the top 50 nationwide. We came in at #24 and are very excited. We have one of the hardest working teams out in the market place!!! Thank you to all of our Buyers, Sellers, and Asset Managers who trusted us!! We are here to serve!!!
This is a great company that does all of our re-key work on our bank owned properties. Take a look at their flyer offering discounts.
We took the most listings in the office for the month of September. Thanks to all of our clients who supported us and to my great team who worked very hard. Our hope is to continue giving great service to our clients.
Thanks everyone.
Shortly after noon today, the California State Senate voted 35-1 to extend a popular $10,000 tax credit for buyers of new unoccupied homes in California to another 4,300 buyers. It goes back to the Assembly now for a second vote. But the near-unanimous approval of the idea – heavily favored all year by the Legislature – gives it a good shot. The governor has also long liked the tax credit as a boost for the construction sector of the economy.
The bill had long been carried by Assemblywoman Anna Caballero, D-Salinas, as AB765. But as part of budget machinations in the Senate, it was folded into SBX3 37 with Sen. Roy Ashburn, R-Bakersfield as the new author and Caballero as a co-author.
Essentially the legislation, if it clears all the hurdles and receives final approval, will start the clock running again and giving people who close escrow on new unoccupied homes after its effective date a shot at receiving the credit – up to $10,0000 over three years.
But it shuts out people who have closed escrow since the Franchise Tax Board cut off applications on July 2. Already, more than 10,600 California buyers have been approved to get the cut.
Home builders called it a key sales tool during the spring and summer – and cited its absence as a key reason for slumping sales during the third quarter.
The Sacramento Kings have drafted Sacramento’s mayor and business and community leaders in a campaign to sell out the franchise’s first two home games.
Kings co-owner Gavin Maloof and Sacramento Mayor Kevin Johnson announced the grassroots campaign at a news conference Tuesday, along with team coach Paul Westphal. The business and community leaders participating in the campaign to sell out the Nov. 2 and Nov. 4 games sported Sacramento ’09 jerseys at the news conference, which was streamed online.
The campaign was a result of Johnson asking the Maloofs what he could do to help the Kings in the short term — other that give them a new arena — Johnson said.
Campaign participants will encourage businesses to buy blocks of tickets to the two games, and invite underprivileged kids to attend.
In addition to the mayor, the campaign committee members include Mike Daugherty, John Frisch, Matt Haines, Lloyd Harvego, Gerry Kamilos, Sotiris Kolokotronis, Hayden Markstein, Arlen Opper, Randy Paragary, Chevo Ramirez, Tim Ray, Bruce Scheidt, Tim Stenvick and Allen Warren.
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