Looking at the sales history of a property can be very telling. In fact, you can often get clues into the happenings of the real estate market. Here is an interesting sales history for a Sacramento fourplex I came across in the course of a current appraisal I’m working on. This is not at all atypical because the market for residential-income properties really boomed in Sacramento (and then it fell hard too).
7/25/2000 – $110,000 sale
7/16/2002 – $278,000 sale
8/18/2004 – $435,000 sale
2/10/2005 – $459,000 sale
9/08/2008 – $377,500 sale (maybe a short sale – did not list in MLS)
5/01/2009 – $104,250 (transfer to bank – foreclosure)
7/13/2009 – $140,000 sale
What do you see? Does anything stand out to you? Let me know if you have any questions about the local real estate market or your neighborhoood. One of the things I enjoy most about my job is that I get to talk with local home owners and real estate agents about important decisions they are making.
Anyway, as we discussed on the phone, I have some potential leads for you, so make sure to give me a call. I know this seems a bit odd to write a note publicly, but that’s the way you found me in the first place. Unfortunately your email did not come through and your phone number listed as “blocked” on my cell (so I cannot call you back).