One of the intriguing parts of appraising is visualizing data through making graphs. I know that might sound really dull to some, but I actually get a kick out of it. Here are some recent graphs I’ve made during the appraisal process. I hope they help give a window into a few neighborhoods in the Sacramento area.
This is the Del Paso Heights area of Sacramento for all properties with two houses on one lot. A quick rise, very sharp decline and current lower prices around $100,000 all stand out to me.
It’s astounding to think 67% of all sales in the 95824 zip code have been cash sales over the past two years. What will be the impact to rents in the area over time with so many new rentals? Do you think they’ll increase or decrease?
It’s easy to see many sales in “The Ranch” in Wilton have hovered around $500,000. Some of these are distressed, so they sold lower than they could have, but minus one sale at $700,000, there has been very little activity above $600,000. Property values have obviously seen a huge decline since this JTS neighborhood was built, but that’s how most of Sacramento looks. Current values are easily about 50% of what they were during the peak in most neighborhoods.
Last but not least, here are sales in the Madrone condominium complex in the Empire Ranch area of Folsom.
I hope this was helpful to maybe give you some context into a few different areas of the Sacramento market. Do you have any questions or further insight about these neighborhoods? I’d love to hear from you in the comments below.
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