August Foreclosure Stats for Sacramento County

September 30, 2008

Foreclosures in California

The foreclosure statistics for August are staggering.  California is #2 in the country for all foreclosure related activity in August.  The rate of foreclosure activity is one in every 130 homes in California received either a notice of default or was foreclosed upon in August; over 40% increase over the month of July and over 75% increase over August of 2007 bringing the year to date total over 625,000 with under half of those sold.  Wow.

Other states coming in with high numbers of foreclosure related activity are #1 Nevada, #3 Arizona and #4 Florida.

Foreclosures in Sacramento County

The graph below illustrates where the foreclosures are happening in Sacramento real estate.  The Sacramento region is taking an enormous hit with foreclosures and there doesn’t seem to be a slowing down as yet.  I’ve heard and read from other sources that foreclosures are receding but this doesn’t seem to be the case when looking at the hard numbers as indicated below.

Sacramento is number one with over 3500 foreclosures while every other city in the county comes in a distant second.  This makes sense as the population is much higher than surrounding commuinties.

None of this is pretty but there is a positive side to everything.  Please contact me with any questions you have.

Government Bailout = Opportunity In Sacramento Real Estate

September 28, 2008

The current financial mess has left some buyers a little reluctant over the last few days to pull the trigger and buy Sacramento real estate.  Instead of seeing 10 to 15 offers on hot properties, we’re seeing more like 4 to 7 offers on our listings.

This is an opportunity for you to have less competition for homes in the Sacramento area and get the best deal possible as a result.

Make no mistake, I’m still seeing those incredible deals getting 10 to 20 offers per home but there is a trick to this, a strategy and you need one to be competitive in this market.  Regardless, great deals still abound and it’s time to make the most of it and build wealth for the future.

Enjoy and, as always, thanks for watching!

Deal of the Week – Elk Grove Homes

September 28, 2008

This is a great home for a first time buyer or investor depending on your investment profile and targets.  Close to schools and shopping with EASY access to Hwy. 99 with a straight shot to downtown Sacramento.

This home is overpriced in my opinion and as a result, is getting very little traffic.  This means that low offers will probably be entertained by the bank and YOU GET A GREAT DEAL!

See this post related to pricing to get a better idea of what I mean.

Will You Pay Too Much for Sacramento Real Estate?

September 26, 2008

Sellers in the Sacramento real estate market sometimes price their homes based on what they need and not based on the market at the time of listing.  A good real estate agent won’t take a listing unless it’s priced to sell.  One who does is wasting the time of the poor people who hire him/her.

In the current real estate market in Sacramento, pricing is imperative and means more than it has in the last 8 years maybe even the last 10 years.

When making an offer on a home in Sacramento, make an educated decision.  Make sure your real estate professional has shown you comparables that validates his or her decision on price.  In short, don’t pay too much for Sacramento real estate.

Enjoy and, as always, thanks for watching!

WARNING: Renters of Sacramento Real Estate

September 25, 2008

There is a very real scam in renting Sacramento real estate right now. The increased inventory of bank owned homes that are vacant, largely unattended and on the market for months creates a situation where unscrupulous people are taking advantage of others.

This has been prevalent in the south Sacramento area as well as other areas of the region as well. To find out more information about who owns a property you might be interested in go to the Sacramento County Assessor’s Office website, click here.

Enjoy and, as always, thanks for watching.

Why the Banks are Failing in Sacramento Real Estate

September 24, 2008

Seriously, while I know this and worse is going on in Sacramento real estate, it still amazes me.

The financial system in this country is failing and while there may be a perfectly logical answer for what’s going on our there, this sure seems out of whack.  What do you think?

Can you imagine having selling a home, having 3 full price offers and then saying “well, come to think of it, I’d like, say, 50% less money than what you’re offering so…OFFERS REJECTED!”  As a former manager of mine used to say, O-M-G! (talk about an awesome manager!)

It’s no wonder banks are failing left and right, they are BRAIN DEAD!  If I hadn’t seen this myself, I wouldn’t believe it.

Enjoy and, as always, thanks for watching.

Why is it SO Hard to Find a Good Realtor?

September 23, 2008

In this market, you’d think it would be easy to get someone to return a call to help you buy a home.  You’d think.  It’s not that easy and I don’t understand why. It used to be you couldn’t kick a rock without uncovering a Realtor with his/her hand out asking if they could take you out to look at homes you were not interested in.  That was a different market, to be sure!

Realtors can be funny people and I don’t know that I’ve ever understood them and probably less now that I’ve got the experience with real sales professionals in new homes.  In new homes, it’s a completely different mindset and level of professionalism.  I wouldn’t trade my experience there for anything.  I’m glad I did it.

If you need someone to help you find a home, please call me.  If I’m busy and can’t help you, I’ll be glad to refer you to someone who can.  In either case, you’ll get a return phone call, I gaurantee it.

Enjoy and, as always, thanks for watching!

Where Can I Get the BEST Deal On a Mortgage in Sacramento?

September 22, 2008

With all of the turmoil in the financial markets at the moment, it’s tough to know which direction to turn when applying for a mortgage today when purchasing Sacramento homes. I hope this post helps you.

This is my first video directly answering your questions.  If you have one, you can always contact me at rob@robertsaxe.com or call 916-532-7653.

Enjoy and as always, thanks for watching!

Next Page »

• Subscribe