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cash sales

The housing market nobody predicted

January 12, 2021 By Ryan Lundquist 10 Comments

Nobody predicted 2020. Who would’ve thought during a pandemic we’d see such an explosive year in real estate? The expectation was that the market would start to tank, but we saw the exact opposite. It’s not just Sacramento either because many areas of the country experienced this same dynamic. Anyway, enjoy some brand new visuals if you wish. Thanks for being here.

THE SHORT VERSION:

Here is a highlight reel to talk through some of the bigger themes this year. In short, the stats are stunning.

What stands out to you?

THE LONGER VERSION (organized by county):

1) Sacramento Region
2) Sacramento County
3) Placer County
4) El Dorado County
5) Yolo County
6) Bonus visuals

I welcome you to share some of these images on your social or in a newsletter. Please use this stuff. In case it helps, here are 5 ways to share my content (not copy verbatim). Thanks.

1) SACRAMENTO REGION:

 

2) SACRAMENTO COUNTY:

3) PLACER COUNTY:

4) EL DORADO COUNTY:

5) YOLO COUNTY:

6) BONUS VISUALS:

Here are some extra regional graphs to show how various counties are moving together.

 

Other visuals: Not that you needed more, but check out my social media in coming days and weeks for extra visuals. I am posting daily stuff on Facebook, Twitter, and LinkedIn. Oh, and sometimes Instagram.

Thanks for being here.

Questions: What stands out to you most about 2020 real estate? Any stories to share? I’d love to hear your take.

If you liked this post, subscribe by email (or RSS). Thanks for being here.

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Filed Under: Market Trends Tagged With: annual recap of housing 2020, Appraisal, appraisal blog in sacramento, Appraiser, cash sales, El Dorado County, Greater Sacramento appraisal blog, Housing market 2020, housing trends, million dollar sales, Placer County, price growth, real estate recap, rising prices, Sacramento Appraisal Blog, Sacramento County, sacramento regional housing market, Yolo County

The story of investors and FHA buyers in Sacramento

March 11, 2014 By Ryan Lundquist Leave a Comment

A quick update for you. What is happening with cash and FHA in Sacramento County over the past few months? Take a quick scan of the graphs below to get a sense of the market. Overall there has been slightly more cash and slightly less FHA in January and February. However, the market has been a bit funky for three months as there have been so few sales, and this makes for weaker data. My suspicion too is that cash has been able to close more readily, whereas FHA buyers are sitting in contract and among the close to 2300 pendings in Sacramento right now. We’ll also see if March changes stats a bit as there should theoretically be more sales this month. Nonetheless, this is the latest and we should keep our eyes on the market closely to be able to share accurate information, speak confidently with clients and make informed real estate decisions. Enjoy and share one or two graphs on your own blog if you wish (see my sharing policy for specifics). Any thoughts?

cash sales and fha sales in sacramento county by sacramento appraisal blog

cash and fha sales under 200K in sacramento county by sacramento appraisal blog

cash sales in sacramento county by sacramento appraisal blog UNDER 200K AND ALL SALES

fha sales in sacramento county by sacramento appraisal blog

cash and fha sales in sacramento county by sacramento appraisal blog

FHA cash conventional stats through q1 2014

Questions: What are you seeing out there in the market? Anything to add to the trends above?

If you liked this post, subscribe by email (or RSS). Thanks for being here.

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Filed Under: Market Trends Tagged With: cash investors, cash sales, Conventional, FHA, graphs of trends, Home Appraiser, House Appraiser, investment funds, real estate trends, Sacramento Real Estate, Sacramento Real Estate Market

The condo market in Sacramento County

May 6, 2013 By Ryan Lundquist 1 Comment

If you’ve been surprised at how cash is dominating the single family market, take a look at what’s happening with condominiums specifically.

The condo market in Sacramento County has some similarities to the overall single family market since foreclosures are down, short sales are up and FHA has decreased, but there are also some differences. One of the biggest distinctions is the whopping sum of 65% cash sales among condominiums compared to 38% cash purchases in the overall single family market. Moreover, it’s interesting to note that over 50% of condo sales have been cash purchases for over three years, which tells us investors have been a major force in this niche for some time.

Condominium trends in Sacramento County - by Sacramento Appraisal Blog

Condo Issues: Since many condominium complexes have too many rentals, pending litigation or low reserves, quite a few have struggled to be loanable (and some are not on the approved FHA list). This has naturally given the green light to cash investors to hoard the condo market. Some complexes are advertising they will not accept cash offers since they are trying to get their owner-occupancy rates to adequate levels again. Yet clearly many complexes are accepting cash offers, which begs the question of what the future of the condo market will look like.

All Condo Sales in Sacramento County Graph from 2008 to 2013 - by Sacramento Appraisal Blog

I asked real estate broker Bruce Slaton to lend some insight into the condo market, and here is what he said. Bruce really knows his stuff, and you can check out his website at www.SacramentoCondos.com.

Bruce_Slaton_reasonably_smallBruce Slaton – RE Broker & Condo Expert: What I am seeing both in inquires and in activity is almost a turning point in the condominium market. We are getting a lot of inquires from condo community owners who have been following the media claims of a recovering market and cash buyers driving up pricing, and the results have been surprising to a few owners who thought they would be less under water than they are. What we are seeing is complexes that do not qualify for FHA or Conventional financing coupled with Rental Limits leading to limited appreciation. We also see new litigation claims which tend to happen with newer complexes within a few years of release from the developer to the HOA, and end up hindering FHA and Conventional financing in those complexes. We are seeing premiums for Homepath listings and HUD homes in those complexes due to the availability of financing. We are seeing heavy interest in complexes in Elk Grove, Natomas, Roseville, Folsom and West Sacramento. In the last several weeks we have seen a large increase of requests for Midtown Sacramento which is probably a result of the NBA decision for the Kings and the anticipated future demand and appreciation possibilities for properties around the Midtown Sacramento area. We have recently had inquiries from investor groups asking about stalled condominium or loft projects as well in the Midtown area. We are seeing popular communities like Riva in West Sacramento emerge from settled litigation suits and approaching increased financing possibilities with the introduction of several credit unions and local banks who are now willing to do conventional loans in these complexes. We are still seeing lack of inventory, and many reasons are homeowners who have not recovered enough equity yet to be able to sell their units. The increase in cash sales and decrease in FHA or Conventional financing can be attributed to the lack of financing in condominium complexes and also real estate agents not familiar with financing options and therefore marketing their listings as Cash Only instead of finding alternative financing options for their buyers.

Question: How do you think it impacts property value in a condo subdivision to have so many cash purchases?

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: Bruce Slaton Real Estate Broker, cash sales, condo appraisal, condo appraisers, condo market trends, condominimum real estate market in Sacramento, condominium appraisals, condominiums in Sacramento, FHA-approved condo list, Home Appraiser, House Appraiser, investors, SacramentoCondos

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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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