Sacramento Appraisal Blog

Market trends and real estate appraisals for divorce, estate settlement, loans, property tax appeal, pre-listing and more. We cover Sacramento, Placer and Yolo County. We're professional, courteous and timely.

The Lowest Priced House on MLS (Sacramento Region)

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This blog will host a “Lowest Priced House on MLS” category because it’s always interesting to answer the question, “should I buy this house or should I buy a car instead?” Yep, the prices are often that low.  

And the winner is…. $12,500.

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620 E 4th Street, Stockton CA is for sale at $12,500. Per Tax Records, this property was built in 1936, has 1025 square feet of living area, 2 bedrooms, 1 bathroom, and a lot size of 3,920 square feet. So why is it priced so low? Well, it looks like it had a little fire damage to say the least.

It is a banked owned property and has been listed on the market for 142 days total with three separate Listing Agents. The property has been priced for only 21 days at $12,500 and appears to have generated a contract at least once (but back to Active status now). I’ll put you into contact with the Listing Agent if anyone is interested in forking out $12,500 greenbacks – it’s an all cash deal because of the condition (no, I don’t know the Agent).

How much could you rent your Sacramento Area house for?

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Have you heard of www.zilpy.com? Visit the web page, type in your Sacramento area address, and see if the estimation of rent is anywhere close to what you think is accurate for the property you are thinking of.

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Here is how it works. I typed in 6901 14th Avenue in Sacramento and then the following information popped up. Zilpy located 30-50 rental properties within the immediate neighborhood. That’s fairly impressive, huh?

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Zilpy also provided basic information about some of the demographics of the neighborhood. This is always interesting. As a side note, when an appraiser completes a Rental Survey, he or she needs to not consider things like Ethnicity and the Ethnic Composition of the neighborhood in determining market rent. If an appraiser included this type of information in his report, the appraiser could get in some hot water.

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Lastly, Zilpy comes up with a range of rent and an overall estimation of rent based upon the data provided from the search parameters. 

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Zilpy is a great tool to obtain some basic rental data to help determine what you could rent a particular property for. It’s one of those sites that is fun to mess around with for a while. BUT like any online tool delving into the world of estimation or valuation, while it has potential to be useful, it can also be gravely inaccurate. After all, without seeing the property or knowing its characteristics, and maybe not knowing the local market and important geographical boundaries that make a huge difference with rent, it makes sense that there is some room for error. 

Like the Zilpy site says:

“Use Zilpy Rent as a starting point to get the market fair estimate for a specific location and property characteristics”

Bottom line: Have fun with this tool, but just know its limitations. If you play around with it and type in your address, please comment above to let everyone know if you think it is anywhere close to accurate. Enjoy.

Vintage Park Real Estate Market in Sacramento

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It’s interesting to take a look at what the market is doing in a neighborhood by comparing sales over the past months as well as current listings. Here is a graph I made this afternoon on current sales over the past year within the Vintage Park neighborhood in the Sacramento area (95828 zip code only – not 95829). The blue dots are sales and the red dots are current listings. Click the following thumbnail image to enlarge:

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Vintage Park Neighborhood Data: 

  • 56 current listings
  • 64% of current listings are bank-owned
  • 21% of current listings are short sales
  • 5 listings priced under $125K
  • 13 listings priced between $125-150K
  • 12 listings priced between $150-175K

The data was taken from Sacramento MLS and is based upon detached single family residential properties within the following boundaries: Calvine Road to the South, UP RR to the West, Elk Grove Florin Road to the East, & Vacant Land to the North.

First Post: Lundquist Real Estate Appraisal Blog in Sacramento

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Hello everyone. Thank you for stopping by to my new real estate appraisal blog. The plan is to post about appraisal-related issues, share graphs of market trends, tips and resources for homeowners, ways to improve neighborhoods, and random stuff too. I hope you enjoy the content and that it is helpful. Here we go.

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