Showing newest posts with label sacramento county real estate. Show older posts
Showing newest posts with label sacramento county real estate. Show older posts

Sunday, October 11, 2009

Haunting Escapes from the Spine Tingling Sacramento Real Estate Ride

Yes, the Sacramento housing market has had its ups and downs and now its ups once again. Like the rollercoaster at the state fair we rode the appreciation rail to dizzying heights and then experienced the exhilarating (and painful) decent to the market bottom. The good news – for homes under $300,000 it appears that we may have reached a bottom. Strong investor and first time buyer demand coupled with low inventory have stabilized the market in many areas. Even some higher priced neighborhoods like East Sacramento and Midtown are showing signs of stabilizing. Many neighborhoods close in to downtown are in hot demand once again.

After the wild ride of the last few years a local diversion is a good thing. Gives us a chance to clear our heads and get ready for the wonderful holiday season ahead. Here are a few local events you might not have had a chance to experience yet:

For the younger set Fairytale Town is going to help you and your kids “Get Back To Where You Once Belonged” with their Safe and Super Halloween Magical Mystery Tour. Journey back in time to the psychedelic sixties for three consecutive nights of family friendly Trick-or-Treating dedicated to the music and memories of the band that rocked the world – the Beatles.

17 candy stations will line the long and winding road through the park with stops like Octopus' Garden, Penny Lane, Abbey Road and of course - Strawberry Fields. Make your own Walrus Puppet and Spin Art, enter a far out costume parade, have your picture taken on stage with Sgt. Pepper and the Yellow Submarine, get a ticket from Lovely Rita the Meter Maid, and experience plenty of surreal surprises for young and old alike as you sing along with the old favorites you know and love.

Puppet Art Theater will also be performing puppet shows in the Children’s Theater. Puppet show tickets are $1 for members and $2 for nonmembers in addition to event admission.

When: October 23-35 5pm to 9pm. Cost: Presale tickets are $7 for members and $10 for non-members. Day-of the event tickets are $9 for members and $12 for nonmembers. http://www.fairytaletown.org/going-on/calendar .

The Old Sacramento Living History Program presents the 2009 Old Sacramento “Original” Ghost Tours. This is a delightfully spooky tradition presented by the Old Sacramento Living History Program. The days of gunfights, lovers' quarrels and business deals gone bad left their mark with strange happenings, creepy stories, and unusual sightings. Watch history come alive on a night-time walk through Old Sacramento as you meet characters that still haunt the streets and buildings of the historic district. Bring your courage and a little humor to this special tour, available only in October. Tours last about an hour.

When: October 16, 17, 23, 24 Times: 6:40, 7:00, 7:20, 7:40, 8:00, and 8:20. Cost: $15 per person; $12 under 12 years old. www.oldsacramentolivinghistory.com .

For a more hair raising escape visit the Callson Manor Haunted Houses at the Placer County Fairgrounds in Roseville. Three spine tingling haunted houses in one this spooky attraction will be running Thursday through Sundays from now to Halloween. More than your typical haunted house these were put together by professional animatronics engineers and feature both mechanical and live frights. Since the Folsom Ghost Train is not running this year this will help fill the gap. When: Thursday through Sunday October 8 to October 31. Cost: Tickets are $10 per house, or $20 for a pass to all three. Cash at the door. http://www.callsonmanor.com/home.htm .

Win The Day~

Jeff Werolin

Werolin Real Estate Group

Manager, Lyon Folsom

916.741.9505 Cell

JWerolin@GoLyon.com

HotNorCalHomes.com

Posted via email from Folsom Homes

Friday, October 9, 2009

Folsom may experience over 600% increase in foreclosure homes for sale

Folsom (95630) currently has197 homes on the market; about 36% (71) are distressed properties. We have 417 homes in foreclosure (NOD filed or Trustee Sales scheduled) in Folsom, and a “shadow inventory” of 95 bank owned homes; these are homes that have been foreclosed but are not yet on the market. If all the homes that are currently in foreclosure or bank owned hit the market Folsom will experience about a 621% increase in foreclosure and REO properties above the 71 distressed homes currently on the market. As these homes hit the market in the coming months we will be facing significant pricing pressure in Folsom.

Now these may be spread out over several months, and some of these will go through loan modifications or cure prior to foreclosure but the hard cold fact is that industry sources indicate that nearly 70% of loan modifications go back into default within 12 months.

Folsom also has 300 additional homes that are currently 30/60 days late on their mortgages and not yet in the foreclosure pipeline. It looks like we will be living with foreclosures in town for some time to come.

Win The Day~

Jeff Werolin

Werolin Real Estate Group

Manager, Lyon Folsom

916.741.9505 Cell

JWerolin@GoLyon.com

HotNorCalHomes.com

CA DRE# 01336771

Posted via email from Folsom Homes

Saturday, March 22, 2008

Graph: Tri County Inventory for homes under $200,000

Press Release from Lyon Real Estate, ranked as the best real estate company in the Sacramento region...

“For those relying on closed sales figures from the County Recorders Office, standing inventory for homes $750,000+ is ranging from 2 years in Sacramento and up to 5 years in El Dorado County; dismal by anyone’s definition,” said Michael Lyon, CEO of Lyon Real Estate. “Yet pended sales have cut those inventories in half, most likely a result of sellers dropping their prices as much as 30%.
For homes below $200,000 it’s a different story (See the graph above). We are seeing high inventory levels not seen since the mid 90’s: 24% of homes pending sale in the Four County region are under $200,000. Prices have dropped to an average of $125 per square foot (psf), with some homes selling for under $100 psf. In this price range, you will find yourself competing with 5 or more bona-fide offers within days of the home coming on the market. FHA loan limits are up to $580,000 with a 3% down payment - no maximum income levels and no credit scores required equates to a modern day gold rush of investors and first time home buyers. It has become evident that the bottom of the market for homes under $200,000 is near but for homes over $750,000, it’s still far off. Exceptions still remain homes close to the major job centers.”