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Rancho Cordova Real Estate Appraiser

A drive through property value in Capital Village

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Sometimes when thinking of property value in the Sacramento area, I think of the “steep grade” signs on the side of the road. Most trend graphs for the market over the past several years end up looking something like these signs.

I just finished up an appraisal in the Capital Village neighborhood of Rancho Cordova, and I wanted to give a glimpse of recent sales and listings in the neighborhood and larger market area. There is a pretty clear downturn, which is difficult to swallow for home owners, but prospective buyers have a sweet taste. The graph below includes all property types in Capital Village (fusion, bungalows, reflections, cottages).

What about current listings in Capital Village? Here they are per Sacramento MLS.

It’s very common for a neighborhood to see trends that are similar to the overall city or region, but it’s not always the case. Sometimes a neighborhood can stand out for whatever reason and escape some of the turmoil from the surrounding market. Though in this case, it’s clear that property values in the 95670 zip code have seen a decline over the past several years.

I know, I’ve shared some bad news today about the real estate market. I’m sorry. But stats are stats and my property has not escaped similar stats either (oh, the pain). The one redemptive feature of a downturn in property value is a savings on property taxes. Additionally, a decline in value does not mean the neighborhood is any less unique. Check out a tour I gave of Capital Village in 2009 (It’s discouraging to see so much more gray hair from two years ago).

What stands out to you about the graphs? How might information like this be useful? If you live in Capital Village, what do you love about the community?

If you have any questions, or real estate appraisal or property tax appeal needs in the Greater Sacramento Region, contact Lundquist Appraisal by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

Is unemployment tied to Sacramento real estate?

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I have a guest post up today entitled “Is unemployment tied to Sacramento real estate” on Sacramento Real Estate Voice. Thank you Gena Riede for inviting me to post. Go check it out and give it some love. The post really focuses on sales and unemployment rates over the past few years in the Sacramento area and takes a specific look at Folsom, Galt, Rancho Cordova & North Highlands. Here is an example graph from the post. It’s amazing to me to see figures like this.

Visit my guest post HERE. Thanks so much.

If you have any questions, or real estate appraisal or property tax appeal needs in the Greater Sacramento Region, contact Lundquist Appraisal by phone 916-595-3735, email, Facebook or subscribe to posts by email.

What do you think of a city making garage conversions illegal?

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The City of Rancho Cordova is currently considering changing zoning code in a way that would essentially do away with garage conversions. Basically, the new code would allow a garage conversion only if the property owner built another garage somewhere else on the parcel (which effectively means nearly all properties will not qualify for a conversion). The slide below is from a presentation on May 24, 2011 at a council work session. See the entire slideshow here.

The main reason for this conversation and potential change is about curbing blight in neighborhoods since garage conversions often contribute to a decline in property value. However, while it’s true that an individual property usually sells for less when the garage is converted, the real question is whether a garage conversion on a street results in other properties losing value. How much market weight does one conversion have for an entire street or tract?

Questions: Do you think garage conversions contribute to blight? How so? Is this a good move to help increase property values? Where is line between what a city can do to boost real estate values and the rights of residents? What blight issues make the most negative impact on value in a neighborhood? Are you aware of other cities or areas where conversions are illegal? Would making conversions illegal be a negative factor in the eyes of buyers? I’d be curious to hear your constructive thoughts below.

NOTE: I will update this post at some point to let you know what is decided on the issue. Again, this is only conversation among City Council right now.

If you have any real estate appraisal, consulting, or property tax appeal needs in the Greater Sacramento Region, contact me at 916.595.3735, by email, on our appraiser website or via Facebook. 

The trend of sales in Rancho Cordova in Anatolia, Stone Creek and the entire 95670 Zip Code

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What’s the difference between Stone Creek, Capital Village, Anatolia and the rest of Rancho Cordova? Have a look at the trend graph below of all sales over the past three years throughout the City of Rancho Cordova. Houses built before 1990 include territory north of Highway 50 as well as south too. Properties built after 1990 in the 95670 zip code basically include the Stone Creek area as well as Capital Village (most houses were built in the past ten years, though there is one development built in the mid-1990s). Lastly, the 95742 zip code includes Anatolia, Kavala Ranch and Sunridge.

What do you see? What stands out to you about differences or the overall trend?

If you have any real estate appraisal, consulting, or property tax appeal needs in the Greater Sacramento Region, contact me at 916.595.3735, by email, on our company website or via Facebook.