Posts from — August 2009

Here are the most recent figures for unemployment in Placer County as of July 2009 per the Employment Development Department. The figures below consider both cities and Census Designated Places (CDP). Placer County as a whole has an unemployment rate of 11.4% (11.4% in June 2009 and 10.9% in May 2009). For reference, Sacramento County’s July unemployment rate is 12.0% (11.6% in June 2009 and 11.1% in May 2009).

It’s interesting to note that while the unemployment rate in Placer County went up in every city and CDP from May to June 2009, we see that 10 of 14 cities/places below had no change at all from June 2009 to July 2009. I also posted some data for Sacramento County HERE. 

Auburn city  9.5%  (June 2009 9.4%)  (9.0% in May 2009)

Colfax city  15.2%  (June 2009 15.2%)  (14.5% in May 2009)

Dollar Point CDP  13.5%  (June 2009 13.5%)  (12.9% in May 2009)

Foresthill CDP  17.4%  (June 2009 17.3%)  (16.7% in May 2009)

Granite Bay CDP  7.7%  (June 2009 7.7%)  (7.3% in May 2009)

Kings Beach CDP  11.2%  (June 2009 11.1%)  (10.6% in May 2009)

Lincoln city  20.1%  (June 2009 20.0%)  (19.3% in May 2009)

Loomis town  7.2%  (June 2009 7.2%)  (6.9% in May 2009)

Meadow Vista CDP  11.0%  (June 2009 11.0%)  (10.5% in May 2009)

North Auburn CDP  14.6%  (June 2009 14.6%)  (14.0% in May 2009)

Rocklin city  7.9%  (June 2009 7.9%)  (7.5% in May 2009)

Roseville city  11.4%  (June 2009 11.4%)  (10.9% in May 2009)

Sunnyside Tahoe City CDP  11.5%  (June 2009 11.5%)  (11.0% in May 2009)

Tahoe Vista CDP  17.8%  (June 2009 17.8%)  (17.1% in May 2009)

Feel free to give me a call at 916-595-3735 or shoot me an email at info@lundquistcompany.com if you have any questions about the figures above, the impact of unemployment on the real estate market or any potential real estate appraisal needs. Figures for August 2009 have not yet been released by EDD, but I’ll put up another post very soon when the data becomes available.

www.SacramentoAppraisalBlog.com Unemployment Rates in Placer County Over the Past Three Months: May 2009, June 2009 & July 2009

Here are the most recent figures for unemployment in Placer County as of June 2009 per the Employment Development Department. The figures below consider both cities and Census Designated Places (CDP). Placer County as a whole has an unemployment rate of 11.4% (10.9% in May 2009). For reference Sacramento County’s June unemployment rate is 11.8% (11.1% in May 2009).

It’s interesting to note that the unemployment rate in Placer County went up in every city and CDP from May to June 2009. This same phenonmenon was seen in Sacramento data.

Auburn city        9.4%  (9.0% in May 2009)

Colfax city         15.2%  (14.5% in May 2009)

Dollar Point CDP         13.5%  (12.9% in May 2009)

Foresthill CDP     17.3%  (16.7% in May 2009)

Granite Bay CDP        7.7%  (7.3% in May 2009)

Kings Beach CDP       11.1%  (10.6% in May 2009)

Lincoln city       20.0%  (19.3% in May 2009)

Loomis town      7.2%  (6.9% in May 2009)

Meadow Vista CDP        11.0%  (10.5% in May 2009)

North Auburn CDP         14.6%  (14.0% in May 2009)

Rocklin city       7.9%  (7.5% in May 2009)

Roseville city     11.4%  (10.9% in May 2009)

Sunnyside Tahoe City CDP         11.5%  (11.0% in May 2009)

Tahoe Vista CDP        17.8%  (17.1% in May 2009)

Feel free to give me a call at 916-595-3735 or shoot me an email at info@lundquistcompany.com if you have any questions about the figures above, the impact of unemployment on the real estate market or any potential real estate appraisal needs. Figures for July 2009 have not yet been released by EDD, but I’ll put up another post very soon when the data becomes available.

Before heading out shortly to inspections in Galt and Stockton, I wanted to post a new video I just put up on our YouTube page. What do you think? This video highlights my company’s local service in Sacramento. I used www.animoto.com to make the video. Check out the Animoto website and see what you can produce (they even have free music). Animoto will allow you to produce 30 second videos for free, but otherwise you pay $30 for longer videos (and an entire year of unlimited service). There are so many ways to have fun with a service like this. I can think of how it would work for family, business, friends, jokes, holidays, party invites, etc… Enjoy.

www.SacramentoAppraisalBlog.com New “Sacramento Appraiser” Video / Check out Animoto

While driving in the field this morning I snapped a photo of a silver horse statue in the brand new Rite Aid center on the corner of Marconi Avenue and Eastern Avenue in the 95821 zip code of Sacramento. This newly constructed shopping center is located just West of Carmichael and the Rite Aid store has been open for less than two weeks.  

What do you think of the horse? It’s gleaming and it’s not hard to miss, is it? Do you like it? Do you hate it? Does it add to the appeal of the retail center? Do you think it fits in with the neighborhood? Comment above if you’d like.

This horse has been dubbed by my three year old boy as “Silver” (sounds appropriate I suppose). It is certainly a landmark for the intersection now because passersby will be drawn to look at it. For reference, Wikipedia says the following of the word “landmark”: In modern usage, a landmark includes anything that is easily recognizable, such as a monument, building, or other structure. 

On another note, this store is located in Sacramento, but the Rite Aid website currently says “Carmichael“. Why do you think  Rite Aid has listed their store location as Carmichael? Is this similar to the 24 Hour Fitness in Rancho Cordova on Sunrise Blvd (West side of street = clearly in Rancho Cordova) saying they are located in “Gold River” when they are certainly located in Rancho Cordova?

www.SacramentoAppraisalBlog.com A Silver Horse: An Instant Landmark in Sacramento (95821 Zip Code)

What can you buy a house for in Mather these days? Here are all current listings as of August 17, 2009 within the Independence at Mather subdivision:

• 42 total listings (including pendings)
• 9 Active listings
• 20 Active Short Sale listings
• 13 Pending properties
• 18 sales over the past 90 days
• Low Sale over past 90 days:  $161,700
• High Sale over past 90 days:  $399,000
• 17 of 18 sales under $290,000

I am very familiar with the Mather real estate market. If you have any questions or a need for further research, feel free to give me (Ryan) a call at 916-595-3735 or see www.lundquistcompany.com.

www.SacramentoAppraisalBlog.com Listings in Mather, CA for August 2009 (Independence at Mather)

When an estate has a transfer of ownership due to death, it is very common for a real estate appraisal to be needed for tax and/or inheritance purposes. Sometimes an attorney or accountant will order an appraisal during such a circumstance or most typically have a family member or heir choose an appraiser for the job at hand.

Estate settlement or “Date of Death” appraisals are something we specialize in, and we work well with home owners in what can be a difficult time in life. Our goal is to provide a reliable appraisal in a timely manner and make the appraisal process as smooth as possible. We serve property owners and attorneys in the Greater Sacramento Region with the following counties: Sacramento, Placer, Yolo, El Dorado, San Joaquin, Stanislaus, Merced, Solano, Yuba and Sutter.

You can read a previous article HERE with additional information about the estate settlement appraisal process and view a short video HERE or below.

Contact Lundquist Appraisal Company at 916-595-3735, info@LundquistCompany.com or www.LundquistCompany.com for additional information or any questions. We hope to be in touch soon and to assist you if it is relevant for your needs. Thank you.

www.SacramentoAppraisalBlog.com Sacramento Region Estate Settlement Appraisals: Who Can You Hire in Your Time of Need?

What’s been happening in the Rancho Cordova real estate market North of Highway 50 (referred to as the ”Riverside” portion of Rancho Cordova due to being on the side of the freeway with the “river” – clever, huh)? Let’s take a look below at some data and graphs. What do you notice?

Rancho Cordova Real Estate Market Trends (North of Hwy 50):

Over the past 90 days there were 83 sales North of Highway 50 (not including South of Highway 50 – Stone Creek, Anatolia, Capital Village…). All data is based upon single family residential units.

• 20 current Active listings
• 53 current Active Short Sale listings
• 44 current Pending properties
• 59% of sales since January 1, 2009 have been bank-owned sales
• 19% of sales since January 1, 2009 have been short sales
• Low Price over past 90 days:   $76,000
• High Price over past 90 days:  $265,000

The graph above shows all the current listings North of Highway 50 in Rancho Cordova (including pendings).

The data above is not meant to be exhaustive or be representative of every niche North of Highway 50. The Riverside portion of Rancho Cordova contains a multitude of neighborhoods and they are not all comparable to each other. You don’t have to be an expert in real estate, for example, to explain some of the differences between Sunriver, White Rock, Cordova Meadows or Croetto. So when data is lumped together as above, it does not mean that there are sales below $100,000 in every neighborhood North of Highway 50, or that the percentages of bank-owned and short sale properties are the same in each neighborhood either, or that there were even sales within certain areas of Rancho Cordova in the past 90 days.

The data above is meant solely for educational purposes. If you have a need for more detailed analysis or a need for a valuation for estate settlement, purchase, refinance, bankruptcy, pre-listing, litigation or any other type of appraisal purpose, feel free to reach me (Ryan) at 916-595-3735 or www.lundquistcompany.com.

www.SacramentoAppraisalBlog.com Rancho Cordova Sales & Listings: Past 90 Days North of Highway 50 (”Riverside” portion of Rancho Cordova)

Here are the most recent figures for unemployment in Sacramento County as of June 2009 per the Employment Development Department. The figures below consider both cities and Census Designated Places (CDP) for June 2009 (also compared with May 2009). Data for July 2009 has not yet been released. 

As of June 2009, Sacramento County as a whole has an unemployment rate of 11.8% ( May 2009 was 11.1%). The State of California has an 11.6% unemployment rate (unchanged from May 2009).

What do you notice about the data below? Does anything stand out to you or surprise you?

Arden Arcade CDP  11.4%  (May 2009 was 10.8%)

Carmichael CDP  8.7%  ( May 2009 was 8.2%)

Citrus Heights city  8.3%  ( May 2009 was 7.8%)

Elk Grove CDP  9.6%  (May 2009 was 9.0%)

Fair Oaks CDP  6.6%  (May 2009 was 6.2%)

Florin CDP  17.6%  (May 2009 was 16.7%)

Folsom city  5.4%  (May 2009 was 5.1%)

Foothill Farms CDP  15.0%  (May 2009 was 14.2%)

Galt city  17.8%  (May 2009 was 16.9%)

Gold River CDP  2.0%  (May 2009 was 1.9%)

Isleton city  12.5%  (May 2009 was 11.8%)

La Riviera CDP  6.5%  (May 2009 was 6.1%)

Laguna CDP  6.1%  (May 2009 was 5.8%)

Laguna West Lakeside CDP  8.0%  (May 2009 was 7.5%)

North Highlands CDP  17.3%  (May 2009 was 16.4%)

Orangevale CDP  8.5%  (May 2009 was 8.0%)

Parkway South Sacramento CDP  19.7%  (May 2009 was 18.7%)

Rancho Cordova City  13.5%  (May 2009 was 12.8%)

Rancho Murieta CDP  3.7%  (May 2009 was 3.5%)

Rio Linda CDP  17.2%  (May 2009 was 16.3%)

Rosemont CDP  9.3%  (May 2009 was 8.8%)

Sacramento city  13.8%  (May 2009 was 13.1%)

Vineyard CDP  5.5%  (May 2009 was 5.2%)

Walnut Grove CDP  25.6%  (May 2009 was 24.5%)

Wilton CDP  7.2%  (May 2009 was 6.8%)

As you can see, there was not one city or CDP (Census Designated Place) that was without an increase in overall unemployment numbers from May to June 2009. If there was a prize for lowest unemployment rate in Sacramento County, Gold River would be the winner at 2.0%. On the other end of the spectrum, Walnut Grove has the highest unemployment rate in Sacramento County at 25.6% (Can you believe that? 1 in 4 working people are without a job).

Let me know if you have any questions about the latest figures and how unemployment impacts the local real estate market. You are welcome to call 916-595-3735 or visit our company website at www.lundquistcompany.com

www.SacramentoAppraisalBlog.com Unemployment Rates in Sacramento County for June 2009

“Tahoe Park” is an area of Sacramento off of Highway 50 and 65th street in the 95820 zip code (with one portion of the neighborhood in the 95817 zip code). The neighborhood consists mostly of single family detached ranch-style houses (some multi-units and occasional 2-story houses) and can be described with five portions as shown below. A previous post goes into detail about each of these portions.

What’s been happening in the Tahoe Park real estate market? What are properties selling for? Let’s take a look at the past three years of sales. What do you notice?

Now let’s consider the past twelve months of sales in Tahoe Park from August 2008 to August 2009. What do you see? Does anything stand out to you?

Tahoe Park Neighborhood Real Estate Market Trends:

• 95 sales over the past 12 months
• Low Price over past 12 months:  $25,000
• High Price over past 12 months:  $330,000
• Current Actives:  19
• Current Short Sale Actives:  13
• Current Pendings:  19
• 25 sales over the past 90 days
• Median Price over Past 90 Days:  $206,000

If you have any questions about Tahoe Park or the graphs and data above, please let me know. I appraise properties in Tahoe Park for purchase, refinance, estate settlement, bankruptcy, litigation and more. Please contact me at 916-595-3735 or ryan [at] lundquistcompany.com.

www.SacramentoAppraisalBlog.com Real Estate Market Trends in the Tahoe Park Neighborhood in Sacramento