Posts from — May 2010

You probably didn’t wake up this morning wondering about fourplex sales in the city of Modesto. But if you did, you’re in luck. Even if you didn’t though, have a look at the trend graph below because it’s shocking to see the huge difference in property values from three years ago to now. What do you see? What stands out to you?

If you are a home owner or work in the real estate field, I’d be curious to hear your take not only on the data above, but on property assessments too. Unfortunately I’m finding it especially true that multi-unit 2-4 income-producing properties are often not assessed accurately (even worse than single family homes). Are you seeing a similar trend? Why do you think duplexes and fourplexes often seem to escape the realm of lowered values by the assessor?

If you are a property owner or investor and feel the Assessor has not kept in tune with the reality of the downward trend in property values, let’s talk. Call me at 916.595.3735 or see my property tax appeal website at www.SacramentoTaxAppeals.com.

They say a picture is worth a thousand words, and in this case it’s true. I noted quite a few bullet holes in the stucco of a house on a recent appraisal inspection. I’m not a big gun guy (or CSI fan), so I couldn’t tell you what type of firearm caused this damage, but I do know that holes like this are a sad commentary on reality.

I posted a video two weeks ago to give everyone a tour of a SMUD energy efficient house in Sacramento. I ended up cutting the video down from 8 minutes to about 2.5 minutes (8 was a bit long). The new video tells the story a bit better, though the full version gives a more detailed tour. What do you think?

This project at 3893 32nd Avenue in Sacramento really shines. It was rehabbed by Housing Group Fund (in partnership with SMUD) into a pristine and very energy-efficient home. It’s amazing to think this house has the potential to save 60% on its utility bills. What do you think? Have you ever heard of Quad-Lock before?

Here are a couple of trend graphs below for the 95742 zip code of Rancho Cordova. This area is comprised mostly of “Anatolia“, but also consists of a development called “Sunridge”, which is not part of the Anatolia HOA. 

You be the appraiser here. What do you see in the trend graphs below when looking at the past years of sales? Is there anything you notice to be different or similar when comparing the two graphs? 

Past three years of sales:

Past one year of sales: 

The yellow pages used to be the go-to source for information, but nowadays we use search engines. Whether in need of directions, movie times, or a solution to fixing a leaky faucet, we go online to find the answers.

This is true for personal matters and also for business. I know many people find my website and blog because they’re looking for information on the real estate market in Greater Sacramento or they’re maybe in need of appraisal services. In fact, seconds ago I returned a phone call from an out-of-state Realtor hoping to ask me a question about FHA appraisal standards. Or last week a home owner found me online and then hired me to do a retrospective appraisal on his property for his estate settlement. The stories go on and on like this. It’s just the way that business (and life) happens these days, and I am constantly amazed at how quickly we can come by good information. 

As a compliment to this post, I made a “search story” on YouTube. This is one of Google’s latest free and interesting gadgets. Have you made a “story” yet?

With all that being said, I’m glad you’re here. By the way, what did you type into a search engine to make your way over? If you end up having any questions about real estate or anything you see me mention on my site, let’s talk. I’m available for you at 916-595-3735 or ryan@LundquistCompany.com.