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.

Real Estate Appraiser

The Dinky Diner in Clarksburg

By 4 Comments

I took a few hours off today to head to Clarksburg with my wife to fit in a little anniversary date. We enjoyed a scenic drive through several Sacramento Delta towns, a light lunch, a short visit to the town of Locke, and some wine-tasting. In all the times I’ve appraised property in the Delta area, I’ve actually never stopped to eat, so I was delighted to enjoy The Dinky Diner. This little mobile set-up (as pictured below) is located on top of the levy about one mile south of Old Sugar Mill along South River Road. We were impressed with the burgers, the small town feel, and the great vibe as we sat outside on a park bench overlooking the Delta. What a fantastic little joint.

Would the Sound of a Train Drive you Crazy?

By 11 Comments

I took some audio a while back of the sound of a train while on an appraisal inspection. While standing in the backyard of a property, I made the recording below. Do you think this would be a big deal for buyers? Listen to the video HERE if you cannot see it in your RSS or email subscription.

In appraisal terminology, this sound would be categorized as “external obsolescence” because it’s something external to the property that imposes on the property. One ineresting thing to me about external obsolescence is that there is a different reaction in the marketplace to locational challenges depending upon the market. For example, in a market with high demand and low supply (with increasing property values), you’ll find that many buyers will tend to overlook certain location and/or condition issues, whether close proximity to an airport, train tracks, fire station, etc… But in a downward market with less demand and a greater supply, buyers will tend to be picky and pay less for properties with locational issues. So if you are selling your property, know your market well and then set the price accordingly.

I’d love to hear your thoughts or stories about homes with external issues like this. Have you ever purchased or sold a house with a locational challenge? What’s it like to live by such a location? Do you tune it out after a while or does it gnaw at you day after day?

One other thing to consider too is that often times properties with locational challenges are not assessed properly because the Assessor’s mass appraisal process may not really capture negative features of a property that might make it worth less (backing to commercial, next to a gas station, located on a busy street). If you have any appraisal questions or needs due to location, please contact me at 916-595-3735.

Is Market Value the Highest Price?

By Leave a Comment

I had a local Realtor interview me today on video about the real estate market in Sacramento, HVCC, tax appeals, and a ton of other stuff. His video will go live next week, and I’m excited for that. That’s not really the point of this post though. I mention this because on my drive home from my video conversation, I found myself thinking about market value, low appraisals and an essay written by Patrick Egger (HERE – pdf). Here is an off-the-cuff unscripted podcast (as you’ll notice I mix up 282 and 283): 

Would you buy Dorothea Puente’s House?

By 26 Comments

Last Friday the Sacramento Bee came out with a story that Dorthea Puente’s old house at 1426 F Street in Sacramento would be going up for sale. Who is Dorethea Puente, you ask? She is a woman who ran a “boarding house” in the 1980s out of her Sacramento Victorian duplex. Unfortunately though instead of finding respite her tenants were drugged and murdered so their social security checks could be cashed. Eventually seven bodies were found buried in Dorothea’s backyard.

This property sold for $560,000 on 08/31/2005, went into foreclosure last year, and is now listed on the market at $309,800 as of 02/26/2010. The current MLS listing states, “Property has notorious history that must be disclosed.” 

Would you have any problems purchasing a property like this? Or would you consider renting this house? Would it bother you on any level or be no big deal? Creepy? Good investment? If you are a real estate agent, have you had experience selling a property with a stigma due to a murder, violent crime or some other heinous or notorious issue?

Original photos of 1426 F Street (it was a bit cloudy today unfortunately):

UPDATE IN 2022: This post is getting some traffic due to Dorothea Puente being profiled on the Netflix series, “Worst Roommate Ever.” Thanks for being here. Anyway, here is an image to show how this duplex sold over the years. The first sale was definitely at the bottom of the price market. This was the sale closest to the murders. Then the duplex sold in a really hot housing market toward the top end of the price range. This property then went into foreclosure and sold as a distressed sale again. Anyway, when it comes to value, one of the things we have to consider is whether a property has a stigma. Moreover, how long does this stigma last?

MARKET STATS: I’ll have lots of market stats out this week on my social channels, so watch Twitter, Instagram, LinkedIn, and Facebook.

Thanks for being here.

Questions: Would you ever buy a property like this? Big deal or no biggie?

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

Skip to content