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Sacramento real estate investor

Why is inventory so low in Sacramento right now?

May 17, 2012 By Ryan Lundquist 4 Comments

If there is one conversation dominating real estate right now in Sacramento, it’s definitely the shortage of listings. It’s wild to think there is only about a one-month supply of inventory on the market. This means buyers have had to duke it out (not literally) to get into contract. Also, multiple offers and offers over asking have become much more common too.

But why is inventory low? Is it because of a coming “wave” of foreclosures or a “shadow” inventory? Do sellers have less confidence in the market? Do banks have something to do with it?

Inventory in Sacramento County - Quarterly from 2011 - Graph by Trendgraphix and modified by Sacramento Appraisal Blog

I talked with Eric Peterson of Praxis Capital about the issue of low inventory. Eric’s company pays very close attention to the market as they flip about 125 houses a year in the Greater Sacramento area. Watch the video below (or here).

What do you think? Anything else you’d add? Is there a looming shadow inventory? If you are an agent, buyer or seller, what’s it been like in the trenches for you lately?

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

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Filed Under: Market Trends, Resources, Videos Tagged With: appraiser in Sacramento, Economics, Eric Peterson, Home Appraiser, House Appraiser, PraxCap, Praxis Capital, Ryan Lundquist, Sacramento real estate investor, shadow inventory, Supply & Demand, wave of foreclosures, why are there few houses for sale, why is inventory low

Duplex and Fourplex Activity in Sacramento County

January 9, 2012 By Ryan Lundquist Leave a Comment

Here’s a glimpse of what’s been going on in the duplex and fourplex real estate market in Sacramento County. Have a look at the graphs below and let me know what you see. There is quite span in price level of course because there is a big difference between areas such as Del Paso Heights, Land Park, Pocket/Greenhaven, South Sacramento, Midtown, etc… If you’ve been paying attention to the 2-4 unit market, what trends have you been seeing lately? If you are an investor, what price range and/or area do you target most often?

By the way, I have a few videos coming up in the next month or so with a local real estate investment specialist. The videos will highlight 2-4 unit trends in more detail. Be on the lookout.

All Duplex Sales in Sacramento County by Sacramento Real Estate Appraiser

Graph of Sacramento County Fourplex Sales by Sacramento Real Estate Appraiser

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 Tagged With: 2-4 unit market in Sacramento, graph of duplex sales in Sacramento County, graph of foruplex sales in Sacramento County, Quadruplex, real estate appraiser in Sacramento County, Sacramento Appraisal Service, Sacramento County duplex sales, Sacramento County fourplex sales, Sacramento real estate inspections, Sacramento real estate investor

Home remodel in progress & wooden pool covers

December 21, 2011 By Ryan Lundquist 4 Comments

I met up with a real estate investor friend today to shoot a short video of one of their current rehab projects. Housing Group Fund recently purchased a bank-owned property in the Sacramento area that had been sitting vacant for a very long time. This property actually racked up $48,000 in code enforcement fines too during the long process of foreclosure and vacancy. Anyway, here is a 30-second clip I put together to show the beginning point of the rehab process.

As shown in the video, I found the “pool cover” to be an inventive way to help avoid the safety risk of an empty pool and maybe avoid damage from skateboarding too. This cover was already on the property when it was purchased. What other ways have you seen a pool “secured” when there is no water?

Offering appraisal services to investors is one of my favorite roles because I enjoy seeing the “before” and “after” product as well as working outside of the scope of appraisals geared toward Fannie Mae. I am not doing any appraisal-related work on this particular house, but in other cases investors will order an appraisal from my company in order to do the following: 1) Present the appraisal to the funding source to secure capital for the project; 2) Use the appraisal as a part of a federal or state rehab program (particular programs simply require an appraisal); 3) Use the appraisal for marketing purposes to include in MLS for buyers and agents (or to get an idea of the “after improved” value for listing purposes).

I hope you enjoyed the brief video. Let me know if you have any questions.

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: Resources, Videos Tagged With: appraisal for investment property, appraisal service in Sacramento, appraisers in Sacramento, as-improved real estate appraisal, Flip that house, house flipping, Housing Group Fund, Investment proeprty in Sacramento, Lundquist Appraisal Company, photo of pool at foreclosure property, Real Estate Appraiser in Sacramento, rehab company in Sacramento, Sacramento Real Estate Appraiser, Sacramento real estate investor

Three years of duplex activity in Sacramento County

September 22, 2011 By Ryan Lundquist Leave a Comment

Do you remember when the duplex market was sizzling in 2004 and 2005? Properties were selling for $400,000 – $500,000 like it was nothing. Take 7996 Marsala Court in Citrus Heights, for example. I came across this sale recently during comp research for a duplex I appraised. In 2004 this property sold for $460,000, and then in 2005 it sold for $513,500. After going through foreclosure in 2010, it sold on the open market for $221,000 in May 2011. The price difference is down over 50% from the peak, which is a very common scenario in the Sacramento area. Take a look at all duplex sales in Sacramento County on the graph below.

There is a very wide range of sales depending on the location of the duplex and of course potential for rental income. Sales in the upper tier tend to be units in Land Park, Midtown and East Sacramento, whereas duplexes around $50,000 tend to be located in North Sacramento and other portions near South Sacramento. What do you notice from the graph above? Any insight?

Sacramento Real Estate Investment Specialist Joel Wright unpacks the market:

In the last 3 ½ months of 2008 80% of properties sold were foreclosures.  During the most recent 3 months in 2011 foreclosures only represent 36% of the sales. Also short sales are happening now representing 24% of sales, which they were not 3 years ago when they only represented 8% of sales. This is a distinct shift in the market. Another distinct shift is that the average price has dropped 17.5% during that time from $186,500 to $153,500.  So while the graph shows the majority of sales occurring under 200k, the ones selling recently in 2011 are almost 20% cheaper. 

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.

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Filed Under: Market Trends Tagged With: appraisal for investment property, appraisal service in Sacramento, appraisers in Sacramento, duplexes in Sacramento, Investment specialist in Sacramento County, Joel Wright Real Estate, Lundquist Appraisal Company, multi-unit properties in Sacramento County, Real Estate Appraiser in Sacramento, residential income market in Sacramento, Sacramento Real Estate Appraiser, Sacramento real estate investor, Wright Real Estate

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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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