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foreclosures in Sacramento County

Steep decline of foreclosures and short sales in Sacramento County

June 5, 2013 By Ryan Lundquist 5 Comments

Everyone knows values have been increasing, so it’s really not a surprise to see that distressed sales have experienced a huge decline at the same time. As I shared on Monday, April and May 2013 were the first two months in over four years where foreclosure sales represented less than 10% of all sales in Sacramento County.

Foreclosures and Short Sales Graph - by Sacramento Appraisal Blog

There are many layers that make up value in a market, such as interest rates, employment trends, supply and demand, the media and public perception, legislation, the amount of cash, affordability, and more. The number of foreclosures is definitely an added layer because it tends to impact prices. Generally speaking, when there are too many foreclosures in a market, prices will decline, and when there are very few, the market has more room to flourish.

foreclosures and short sales in Sacramento County in 2013 - by Sacramento Appraisal Blog

Share the Trends: Feel free to share the graph and chart above in your newsletter or on your blog, Facebook or any other social place. The only thing I ask is you keep the images intact and link back to my blog if possible. See my sharing policy for more information. Enjoy.

Questions: Where did the foreclosures go? Why do you think short sales are seeing a decline?

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Filed Under: Market Trends, Resources Tagged With: decrease of REO sales, foreclosures in Sacramento County, Home Appraiser, House Appraiser, less distressed properties in Sacramento County, real estate data, real estate market trends Sacramento County, short sales in Sacramento County, stats for distressed sales

Tour de Sacramento real estate in 2013

April 1, 2013 By Ryan Lundquist 2 Comments

One of the best trips I ever took was a European backpacking vacation after graduating college. A friend and I traveled through England, France and Scotland for two weeks, and it was simply incredible. In fact, I hope to get back there again in a couple of years as my wife and I have begun talking about doing something big for our 15th anniversary.

Unfortunately my wallet is not thick enough to take every blog reader to Europe today, but I can give you a “Tour de Sacramento” so to speak. Let’s make four quick stops to uncover some of the real estate trends during the first quarter of 2013.

Stop 1: Distressed Sales

Over the past year the market has seen a significant downturn in foreclosure sales. Bank-owned sales essentially have decreased by 20% since the first quarter of 2012, whereas short sales had been seeing an increase until this past quarter.

Distressed Sales in Sacramento County Foreclosures and Short Sales Graph - by Sacramento Appraisal Blog

The market has persisted to gain health as the total percentage of distressed sales has seen a decrease yet again over the past quarter. However, it’s also noteworthy that inventory has been at its lowest point in years.

Distressed Sales in Sacramento County - by Sacramento Appraisal Blog

Stop 2: The Cash Factor

Cash purchases have generally been up in 2013 so far. There are rumors of certain investment funds slowing down their purchasing, but the market is clearly still saturated with investors.

Graph of Cash sales in Sacramento Placer Yolo County 2012 and 2013 - by Sacramento Appraisal Blog

The stats below consider all single family detached sales in Sacramento, Placer & Yolo County. It’s amazing to see that 36.28% of all single family detached sales in Sacramento County were cash. However, when considering all single family sales including condos and halfplexes, 39.06% of all sales were cash in Q1 of 2013.

Cash sales in Sacramento Placer Yolo County 2012 and 2013 - by Sacramento Appraisal Blog

Stop 3: The Breakdown of Buyers

One out of every two sales under $200,000 in Sacramento County has been a cash purchase lately. No, that’s not a typo. It’s no wonder why financed offers have had to be more creative in hopes of getting an offer accepted. It’s become increasingly more common to see buyers make offers above list price, ask for no credits from the seller, offer to pay a certain amount above the appraised value or even remove appraisal contingencies altogether. Yikes! FHA offers saw a slight decrease, and I wouldn’t be surprised to see that persist so long as the climate of low inventory and high-volume cash persists.

Q1 Sacramento real estate stats - cash conventional fha - by Sacramento Appraisal Blog

Stop 4: Unemployment in Sacramento County

Unemployment dropped to 9.5% in Sacramento County as of February 2013. As you can see in graphs below, the jobless rate has overall been trending downward in Sacramento, California and the United States. For reference, the unemployment rate in California right now is 9.6% and the national unemployment rate is 7.7%.

February 2013 unemployment Sacramento County - graph by Sacramento Appraisal Blog

1990 - 2013 - February 2013 unemployment Sacramento County - graph by Sacramento Appraisal Blog

Unemployment in US CA and Sacramento 1990 - 2013 - February 2013 - graph by Sacramento Appraisal Blog

Questions: What stands out to you above? Also, what was the best vacation you ever took?

If you have any questions or Sacramento home appraisal or property tax appeal needs, let’s connect by phone 916-595-3735, email, Twitter, subscribe to posts by email (or RSS) or “like” my page on Facebook

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Filed Under: Market Trends, Resources Tagged With: cash purchases in Sacramento County, cash sales in Placer county, decline jobless rate, decline of foreclosures, decrease of FHA loans, FHA decline in Sacramento, foreclosures in Sacramento County, investors in Sacramento County, market trend graphs Sacramento, percentage of distressed sales, Sacramento County unemployment graphs, short sales in Sacramento County, Unemployment Rate, Yolo County cash sales

Crunching foreclosure stats and market health in the Greater Sacramento Region

December 13, 2011 By Ryan Lundquist 6 Comments

How is the real estate market doing in the Greater Sacramento Area? Let’s feel out one aspect of the market’s health today by looking at the level of distressed sales in multiple counties such as Sacramento, Placer, Yolo, El Dorado, San Joaquin and more. As you can see in the chart below, most counties in the Sacramento Region have a combined percentage of distressed sales (bank-owned and short sales) between 60-70%. Does it shock you to think that 6 to 7 out of every 10 sales are distressed? Data within a specific neighborhood or city may of course not reflect the trends listed in an overall given county (as in the clear case of the City of Davis in Yolo County), but the countywide panoramic picture is still important to keep in mind when keeping tabs on market health since regional or countywide trends can tend to impact smaller neighborhood markets over time.

What stands out to you about the figures below?

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

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Filed Under: Market Trends, Resources Tagged With: appraisal service in Sacramento, appraisers in Sacramento, comparison of distressed sales, distressed sales, foreclosures in El Dorado County, foreclosures in Placer County, foreclosures in Sacramento County, foreclosures in Yolo County, Health of Real Estate Market, Lundquist Appraisal Company, Real Estate Appraiser in Sacramento, REO sales, Sacramento County Real Estate, Sacramento Real Estate Appraiser, Sacramento Region Real Estate, Short Sales, total percentage of distressed sales

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Disclaimer

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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