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Sacramento’s real estate market in one sentence

August 1, 2013 By Ryan Lundquist 6 Comments

How would you describe the housing market? I asked a handful of real estate professionals to explain market trends in Sacramento in July 2013 by using ONLY one sentence. This is first-hand insight in “Twitter-sized” chunks.

July 2013 real estate market in Sacramento - by Sacramento Appraisal Blog

Barbara LebrechtBarbara Lebrecht – Realtor/Broker: “Despite rising interest rates and a promising yet small increase in inventory, buyers and investors continue to duke it out for well priced properties.”

Erin NewingtonErin Newington – Realtor: “Buyers are starting to get more leverage during negotiations, and Sellers now have to come down off the cloud and get back to reality!”

Eric-Peterson-Praxis-CapitalEric Peterson – Managing Director Praxis Capital: “The Sacramento market has gone from red hot to whatever temperature is just above luke warm in the last 30 days.”

Jeff-Grenz-Real-Estate-BrokerJeff Grenz – Realtor/Broker: “Mostly corrected and on its way back to a normal end-user (an employed owner occupant with financing) driven and balanced market.”

brandy salazarBrandy Salazar – VP Folsom Asset Management: “In July, we experienced an increase in inventory and a shift to a more buyer-friendly market.”

Estella-DrakeEstella Drake – Realtor: “Sellers want to make a killing, buyers want a good deal, valuations all over the map, lending is more challenging, flipping deals are running dry, and on a happy note interest rates are still fantastic.”

Erin-StumpfErin Stumpf – Realtor: “Many Sacramento home buyers were shocked into paralysis around the beginning of the July due to the sharp increase in mortgage interest rates, only to be reinvigorated to aggressively search for homes again by the month’s end since they realize rates won’t dip so low again any time soon; supply of homes for sale is still relatively low and demand is still high.”

Ray HensonRay Henson – Realtor: “There is high demand for a very limited supply of homes in Sacramento and the few homeowners that are selling have little incentive to sell as prices continue to rise month over month”.

Steve-Ostrom-Realtor1Steve Ostrom – Roseville Realtor: “Still hot, but with signs of settling into normal market”.

Any thoughts, questions or stories to share? I’d be curious to hear your take on the market in the comments below.

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Filed Under: Market Trends Tagged With: Brandy Salazar, Eric Peterson - Praxis Capital, Erin Newington Real Estate, Erin Stumpf - Realtor, Folsom Asset Management, Home Appraiser, House Appraiser, Jeffe Grenz Real Estate, July 2013 real estate market, Raymond Henson, Real estate market trends in Sacramento, Sacramento County Real Estate, Steve Ostrom

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Comments

  1. Ray Henson says

    August 1, 2013 at 3:17 PM

    Thank you Ryan. I enjoyed seeing “the market” from different agents perspectives.

    Reply
    • Ryan Lundquist says

      August 1, 2013 at 4:07 PM

      You’re welcome. And thank you Ray. I appreciate your perspective.

      Reply

Trackbacks

  1. Buyers gain power in Sacramento’s housing market | Sacramento Appraisal Blog | Real Estate Appraiser says:
    August 5, 2013 at 9:00 AM

    […] for July 2013 do tell a story that real estate agents mentioned in last week’s post, “Sacramento’s real estate market in one sentence“. Overall as cash has decreased, FHA has seen a slight increase and conventional sales have […]

    Reply
  2. Why it’s important to pay attention to listings in this market | Sacramento Appraisal Blog | Real Estate Appraiser says:
    August 12, 2013 at 3:00 AM

    […] quarter, but the gap between recent sales and current listings is definitely getting thinner as the market has been shifting lately. In light of an uptick in inventory, less cash sales and an increase in interest rates, this is […]

    Reply
  3. Sacramento real estate sheds more foreclosures | Sacramento Appraisal Blog | Real Estate Appraiser says:
    August 15, 2013 at 6:09 AM

    […] Ultimately inventory is still very low, but buyers can definitely feel the difference or “shift” that happens when a few hundred extra homes hit the […]

    Reply
  4. Remembering basic economics in real estate | Sacramento Appraisal Blog | Real Estate Appraiser says:
    August 28, 2013 at 5:44 AM

    […] demand. As supply has increased, demand has begun to be slightly more satisfied, which has led to the market cooling off a bit (not to mention Summer is fading away).  As you can see in the graph below, prices tend to decline […]

    Reply

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