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Employment Development Department

The battle of unemployment in Greater Sacramento

March 2, 2011 By Ryan Lundquist Leave a Comment

How is unemployment doing in the Greater Sacramento Region? Have a look below at Sacramento County and ten surrounding counties. Data from EDD – December 2010.

What stands out to you about these rates? 

12.7%    El Dorado County
20.1%    Merced County
11.2%    Nevada County
11.2%    Placer County
12.6%    Sacramento County
18.0%    San Joaquin County
12.1%    Solano County
17.6%    Stanislaus County
21.5%    Sutter County
14.3%    Yolo County
19.4%    Yuba County

If you have any real estate appraisal, valuation consulting, or property tax appeal needs, contact me at 916.595.3735, www.LundquistCompany.com or via Facebook.

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Filed Under: Market Trends, Resources Tagged With: December 2010 Unemployment Rates, EDD, El Dorado County, Employment Development Department, Lundquist Appraisal Company, Merced County, Nevada County, Sacramento County, San Joaquin County, Solano County, Stanislaus County, Sutter County, Unemployemnt rates, Unemployment in the Sacramento Region, Yolo County, Yuba County

Cost to Build, Home Prices & Unemployment in Sacramento & Placer County

May 28, 2010 By Ryan Lundquist 1 Comment

My Realtor friend Jenifer Miller invited me yesterday to give a 90-minute talk to a group of new real estate agents at Lyon Real Estate in Elk Grove. It was fun and I hope overall helpful too as we discussed how to more effectively communicate with appraisers in an HVCC world as well as a few tidbits on FHA minimum requirements.

Anyway, one of the members of the class brought up a great question. He asked how properties could not be worth at least their replacement cost. The truth is that we see so many properties in the Sacramento area selling far below what they would actually cost to build from scratch (cost of land + all improvements). 

That’s the nature of the market these days. But why is that? There are many factors to consider. Do you remember the real estate bubble? It couldn’t have lasted forever. Property values really climbed too quickly to enormously high levels, didn’t they? When the bubble burst, it changed the real estate market. There ended up being a huge oversupply of distressed properties listed on the open market, and these REOs set the pace for the rest of the market. Keep in mind too everything that was going on in Wall Street, the bailouts, and the economy beginning to sincerely struggle. All of these factors (and more) influenced property values.

Moreover, check out unemployment figures to the right for both Sacramento County & Placer County. These April 2010 stats from the Employment Development Department show an unemployment rate of 12.5% in Sacramento County and 11.5% in Placer County. Let’s contrast this with data from April 2006 that shows the unemployment rate was 4.8% in Sacramento County and 4.3% in Placer County. Things changed, didn’t they? In light of unemployment rates being significantly higher nowadays, do you think buyers could really afford to purchase houses right now at 2006 levels?  

What do you think? I’d love to hear your insight.

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Filed Under: Appraisal Stuff, Market Trends, Resources Tagged With: Bubble Burst in Sacramento, EDD, Employment Development Department, Home Appraiser, House Appraiser, Housing Bubble, Jenifer Miller Realtor, Lundquist Appraisal Company, Lyon Real Estate Elk Grove, Placer County, Placer County Unemployment Rate April 2010, Real estate market trends in Sacramento, Replacement Cost vs. Home Prices, Replacement Cost vs. Market Value, Rise of Unemployment, Sacramento Appraisal, Sacramento Appriaser, Sacramento County, Sacramento Unemployment Rate April 2010, Unemployement Rates

What’s the Unemployment Rate in Sacramento County so far in 2010?

March 13, 2010 By Ryan Lundquist Leave a Comment

EDD finally posted January 2010 unemployment rates. They typically get new data on their website about 20 days into the next month (for the previous month), but this time around they took quite a bit longer. Maybe they didn’t want to release discouraging numbers (just kidding). Actually, they have a new schedule posted HERE in case you’re interested.

The graph to the right was taken from the EDD website. It looks like California is not doing too well compared with the rest of the United States. When looking at the graph or the data below, what stands out to you? Does anything surprise you? In Sacramento County, Gold River has the lowest unemployment rate at 2.6% and Walnut Grove takes home the top rate at 30.5%. These two have actually been bookends on the unemployment rate spectrum for quite some time. Overall Sacramento County has an unemployment rate of 13.10% as of January 2010.

What strikes you about the information above? How do you think unemployment influences the real estate market?

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Filed Under: Appraisal Stuff, Market Trends, Resources Tagged With: EDD, Employment Development Department, January 2010 Rate of Unemployment, Lundquist Appraisal Company, Sacramento Real Estate Appraisal, Sacramento Real Estate Appraiser, Unemployment Rate in Sacramento County

October 2009 Unemployment Rates in Sacramento & Placer County

December 4, 2009 By Ryan Lundquist 3 Comments

Quick data. Here are unemployment rates for all cities and CDPs in Sacramento County and Placer County for October 2009. This data is based upon information provided by EDD. Unemployment rates for Yolo County, Merced County & Solano County and San Joaquin & El Dorado County are also available. These are all areas I appraise in, so I keep a close eye on unemployment each month.

What do you see? Does anything stand out to you or surprise you?  

October 2009 Unemployment in Sacramento County

October 2009 Unemployment in Placer County

www.SacramentoAppraisalBlog.com October 2009 Unemployment Rates in Sacramento & Placer County

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Filed Under: Market Trends Tagged With: EDD, Employment Development Department, Sacramento County Unemployment October 2009

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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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