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appraiser in Sacramento area

When did the foreclosure floodgates open in South Sacramento?

November 17, 2010 By Ryan Lundquist 4 Comments

I’m doing some research in the Meadowview area of South Sacramento right now, and I wanted to share a trend graph. Check out the past three years of sales for all properties south of Meadowview Road, east of Freeport Blvd, west of Detroit Blvd, and north of vacant land (excluding newer construction built in the past ten years – that’s really a different market despite being located in the same boundaries).

Based on the graph above, when do you think a wave of foreclosures hit the market in the past three years? You got it right. The market was really hurting during the last quarter of 2008 and the first couple quarters of 2009. There is evidence that the market was already struggling in 2007, but the decline really went into high gear in the latter part of 2008. This release of the foreclosure floodgates caused a hefty and quick decline in property value as can be seen above. You can see also that the market has since since experienced some recovery. In my opinion, beyond inventory decreasing, one of the things that has helped to shape property value over the past couple years in this neighborhood is investors purchasing and flipping properties. There have been an enormous amount of flips in this area.

If you have any questions, let me know. You can give me a call at 916.595.3735, email me, or comment below.

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Filed Under: Appraisal Stuff, Market Trends, Resources Tagged With: appraiser in Sacramento area, Bank Owned, Foreclosure, foreclosure wave, Lundquist Appraisal Company, Meadowview area of Sacramento, Meadowview neighborhood, Property Value in South Sacramento, Real Estate Appraisal, REO, Sacramento Home Appraiser, Sacramento House Appraiser, South Sacramento, South Sacramento Real Estate Appraiser

When is the deadline to appeal property taxes in Sacramento County for 2010?

November 17, 2010 By Ryan Lundquist Leave a Comment

Property owners ask me this question every year….. often after the deadline has already passed. The last date to dispute your property taxes in Sacramento County and in many surrounding counties is November 30, 2010. This deadline is for a typical “decline in value” reassessment. See the video below or share with friends.

If you have any questions or a need to convince the Assessor’s Office of the true value of your home, contact my property tax appeal company at 916.595.3735 or see www.SacramentoTaxAppeals.com.

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Filed Under: Property Taxes, Resources, Videos Tagged With: Appeal property taxes, appraiser in Sacramento area, deadline to appeal property taxes, Dispute Property Taxes, property tax consultant, Real Estate Appraiser, Reduce Property Taxes, Sacramento County Assessment Appeals Board, Sacramento County Assessor, Sacramento County Property Taxes, Sacramento Home Appraiser, Sacramento House Appraiser, Tax Appeal

A flashlight tour of a dark boarded-up house in South Sacramento

November 16, 2010 By Ryan Lundquist 5 Comments

I wanted to give you a little tour of a dark boarded fixer-upper house in South Sacramento. Honestly, sometimes it feels a bit creepy to inspect houses like this because utilities are off and every window and door is boarded with plywood. You never know what or who might be lurking in the darkness, right? 

As always, I had permission from my client to shoot and share video. I take client confidentiality very seriously for every appraisal I do, and I never share information on my blog or elsewhere that is confidential.

Let me know if you have any questions. Call me at 916.595.3735, send me an email, or connect with me on Facebook or Twitter.

What do you think of the video?

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Filed Under: Appraisal Stuff, Resources, Videos Tagged With: appraiser in Sacramento area, Bank Owned, creepy music, flashlight tour, Foreclosure, Inspection, Lundquist Appraisal Company, Real Estate Appraisal, Real Estate Appraiser, REO, Sacramento Home Appraiser, Sacramento House Appraiser, Sacramento Real Estate, Sacramento Real Estate Tube, South Sacramento, tour of dark house, utilities off in house, Vacant house tour

How much is one extra bedroom in a Sacramento condominium worth?

November 15, 2010 By Ryan Lundquist Leave a Comment

Numbers can tell us anything. For instance, we can look at median price or price per square foot for a particular neighborhood or zip code, but these figures do not necessarily reflect specific market value for a specific property, do they? For example, let’s glance at a condominium subdivision in the 95825 zip code of Sacramento as an illustration. The median price for the year for the entire subdivision (all sales listed below) is around $70,000. However, this figure alone does very little to help us understand the market because there is a clear distinction between 1-bedroom and 2-bedroom units, isn’t there? You can see below that 1-bedroom condos are bracketed between $45,000-$65,000 whereas 2-bedroom units sold between $75,000-90,000 more or less (with only one 2-bedroom condo above $100,000).

So how much is the market willing to pay for an extra bedroom in this complex? Before reading the next few sentences, you be the appraiser and tell me. Based on the graph above it looks like the difference in price between 1 and 2-bedroom condos is generally about $25,000-$35,000 (plus or minus). Other factors to consider in the valuation process of course would be floor location, condition, level of upgrades, location of the unit (next to swimming pool, secluded, backs busy street, interior unit, etc…). 

Why do you think the market is willing to pay so much more for a 2-bedroom unit? What advantages does a two-bedroom have that a one-bedroom does not? I’d love to hear your insight.

If you have any questions about the appraisal process or condominiums in the Greater Sacramento Region, give me a call at 916.595.3735, email me, or catch me on Facebook.

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Filed Under: Appraisal Stuff, Market Trends Tagged With: 95825 zip code, appraiser in Sacramento area, Condo Prices, Condominium appraiser, Condominium Subdivision in Sacramento, Condos in Sacramento, Lundquist Appraisal Company, Median Price, Real Estate Appraisal, Real Estate Appraiser, Sacramento Home Appraiser, Sacramento House Appraiser, worth of a bedroom

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First off, thank you for being here. Now let's get into the fine print. The material and information contained on this website is the copyrighted property of Ryan Lundquist and Lundquist Appraisal Company. Content on this website may not be reproduced or republished without prior written permission from Ryan Lundquist.

Please see my Sharing Policy on the navigation bar if you are interested in sharing portions of any content on this blog.

The information on this website is meant entirely for educational purposes and is not intended in any way to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or any other potential real estate or non-real estate purpose. The material found on this website is meant for casual reading only and is not intended for use in a court of law or any other legal use. Ryan will not appear in court in any capacity based on any information posted here. For more detailed market analysis to be used for an appraisal report or any appraisal-related purpose or valuation consulting, please contact Ryan at 916-595-3735 for more information.

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