Jeff Werolin Folsom El Dorado Hills Granite Bay Sacramento Real Estate
One stop search for all homes for sale in the Sacramento region including Folsom, El Dorado Hills, Granite Bay, Rancho Cordova, Mather, Fair Oaks and REO, Bank Owned or Foreclosure property and real estate.
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Best Regards, Jeff Werolin

Graph: Tri County Inventory for homes
Market Update from Lyon Real Estate, ranked as the best real estate company in the Sacramento region...
The market is now being driven by three different factors affecting three separate price ranges. Homes under $300,000 - especially foreclosure homes - are selling in a matter of hours with multiple bid and in under three months. Then we have homes above $300,000 and under $580,000 that are not in foreclosure but have low interest, low-down FHA programs to finance the sale and have inventory levels of under six months - this market segment is much better than it has been in the last two years. Finally we have those homes for sale in the non-conforming loan or Jumbo bracket, and inventory levels of around 20 months. With down payment requirements of between 20 to 30%, even if priced right, it can take two to three times longer to sell a home in this price-bracket than those homes priced under $580,000.
The good news in all of this lies in the rate of absorption for the foreclosure properties. If sustained, it will mitigate the effects of the 15,000 foreclosure homes still expected to come on the market this year. Many people who never dreamed of owning a home now have a chance, at least until the end of this year when these FHA programs sunset. There is also a sustained reduction in overall inventory as many realize that the market will continue like this for several years to come unless we see further government intervention.
As for general trends, it is still the case that the closer homes are to major job centers the better they have done to retain or even gain values. However, a new trend by banks and home owners struggling to price their homes is the use of appraisers in addition to broker market opinions. Banks are even asking for and getting a second appraisal just days before close of escrow. For a detailed analysis of your neighborhood please contact us. We will be happy to email you out a report.