Category Archives: Real estate market outlook

Sacramento Real Estate Developments & Our Thriving Art Community – Art Meets Real Estate

With the continued growth of our real estate market and prices climbing, Sacramento is still affordable especially for Bay area buyers who agree that Sacramento is a thriving community with great nightlife, according to some Bay area newspapers, a flourishing art community, and an amazing bike trail system for various recreation purposes.

Staff writer Ben van der Meer of the Sacramento Business Journal has recently come to our Sacramento Association of Realtors  and talked about future developments happening in Natomas, Folsom, and, of course, downtown.

 

Grateful to listen to a wonderful presentation at our monthly broker meeting held at Sacramento Association of Realtors.

 

Sacramento’s Real Estate Projects

 

  1. Natomas has 3,000 entitles, but unbuilt homes.
  2. Folsom will have a 6,900 new units being built . The Folsom plan will add about 350 homes a year.
  3. Rancho Cordova will also build 6,700 homes with a master plan being developed that would add about 12,189 new homes. Rancho Cordova has the advantage of being close to the Lightrail.
  4. Downtown has 2,200 entitled or under construction units.
  5. Sacramento has a lot shortage with a supply of about 5,700, which is approximately a year’s worth.
  6. J St- 11-story project in midtown with 175 units being built, some as small as 440 sq. ft.

 

Some of the building projects.

 

Despite all these great new building projects, staff writer Ben van der Meer pointed out that new housing supply will continue to stay slim, which creates a shortage of new listings and inventory.

 

Sacramento’s Wide Open Walls – Art Meets Real Estate

 

Another reason to be excited about our Sacramento real estate market and all the new projects is the Wide Open Walls new murals that adorn Sacramento’s old and new buildings. With more building and development, the art movement is evident. More than 50 local, national, and international artists have produced some amazing art, using various techniques, such as spray painting.

 

A poignant and suggestive art mural and portrait of a child.

 

Along with enhancing the cityscape, Sacramento Congresswoman Doris Matsui said a thriving arts scene can be an economic driver for the city.

 

Portrait of Lady Gaga on the Golden One building, where I recently saw her in concert. Gaga-ism at its best done by Southern California artist Christina Angelina.

 

I was lucky to take the Wide Open Walls running tour done by one of my fellow runner friends Jenn Kistler-McCoy and organized by our best local running store Fleet Feet. Jenn is the founder of Sacramento Running Tours. She leads walking and running tours of our beautiful city and has tremendous energy, passion, dedication, and knowledge about Sacramento’s culture and history.

 

 

A collage of the art murals reflecting different themes, artists, and painting techniques. A feast for the eyes, heart, and soul! Sacramento moooves us with its sophistication – not a Cowtown anymore!

 

 

Due to the constant developments and our growing art movement, Sacramento will continue to be a wonderful place to live a lot more affordable than the Bay Area, so let’s be proud of our buildings – inside and outside with all their stories and adorning art.

 

 

For more info on running and real estate, whether buying or selling, please e-mail me at carmenmicsa@yahoo.com, or call me at 916-342-2446. Running for real estate with joy!

A Quick Recap of Our 2016 Sacramento Real Estate Market and What to Look for in 2017!

2016 Sacramento Real Estate Market recap

As we are getting close to leaving 2016 behind and usher 2017, it will be helpful to look at our November numbers and stats to understand where we are heading and what the new year will have in store for us. These numbers deal only with Sacramento county, but if you need stats for other counties, please feel free to click on Ryan Lundquist’s excellent blog that I quoted below.

  1. The median price is the same as it was in August 2007.
  2. Housing inventory is 22% lower than the same time last year (there is only a 1.36 month housing supply).
  3. Sales volume was 17% higher this November compared to November 2015.
  4. There were only 36 short sales and 34 REOs in the county last month.
  5. Cash sales are down 11% this year.
  6. The median price is $325,000 and is down 2% from the height of summer and 12% higher than last year.
  7. The  average sales price at $349,659.

2017 Real Estate Outlook

 

So with these stats in mind, I know that you want to receive the answer to the what I call the crystal ball question: “So how will our real estate market be next year?”

My answer is evasive and honest at the same time. “We never know exactly what the new year will bring, but according to economists and Realtor.com, we will see a 7% increase in value.”

This might be exciting news, but as Ryan Lundquist astutely pointed out in his wonderfully written and researched blog http://www.sacramentoappraisalblog.com, this is what our market has been doing for the last two years, which means that Sacramento will continue on the same steady path. Additionally, even though the Sacramento Bee called Sacramento the 4th hottest real estate market in the country, just because median prices went up 7%, it doesn’t mean that actual values increased by that much.

Getting a Loan and 2017 Interest Rates

 

These are some of our predictions for 2017 together with the fact that interest rates will go up by about half a point, but they are still super affordable. Today I have also had the pleasure and honor to talk about this on Real Life Lending 105.5 FM radio show hosted by Eric Elovski McKay who is one of my preferred lenders due to his extensive knowledge of the lending industry, his hard work, dedication, and professionalism. To apply for a loan with Eric, just go to his website http://www.ericwillclose.com.

With Eric Elovski McKay, host of Real Life Lending

Another important report that helps us real estate professionals is presented by our California Association of Realtors. According their forecast the California median homes price, this is not just Sacramento, is forecast to increase 4.3 percent in 2017, representing the slowest rate of price appreciation in six years. C.A.R president Pat Zicarelli also predicts that “San Francisco Bay Area will experience a decline as home buyers migrate to peripheral cities with more affordable options.”

Overall, we all need to be excited and positive about the new year, and let’s prepare our Champagne glasses for a prosperous, better, and brighter 2017.

For more info on running and real estate, whether buying or selling, please e-mail me at carmenmicsa@yahoo.com, or call me at 916-342-2446. Running for real estate with joy!

 

Sacramento Real Estate Market Outlook for 2017- Prices Going Up or Down?

As the title of my blog is running for real estate, I am pleased to combine my passion for real estate with running. Moreover, rest assured that I will run and hustle to help you buy or sell a house the same way our bunny Peter runs up and down the stairs in this video! I believe in being quick and efficient in taking care of all your real estate needs, so never hesitate to call me with any questions. No strings attached!

 

 

As we approach the end of the year, almost everybody wants to know what to expect in the coming year, especially because of the elections and the rumors about interest rates going up, which are not just rumors. Interest rates will be going up a little bit in 2017, according to Oscar Wei, senior economist for California Association of Realtors.  During our monthly meeting at Sacramento Association of Realtors, Wei did a detailed presentation on our real estate market- see entire link and forecast below.

http://www.car.org/3550/pdf/econpdfs/09-29-2016_EXPO_Forecast_Final.pdf

10 Key Points to Remember as We are Heading Towards the End of 2016 and Ushering 2017:

 

  1. Real estate is still considered a very good long-term investment.
  2. Listings inventory is still low, making is more difficult for first-time buyers to afford to buy.
  3. Long-time homeowners are not moving that often and wait about 10 years to move, choosing instead to remodel their homes and stay.
  4. Boomers are not moving as often.
  5. Builders are still not building enough new homes, which contributes to a lower supply of homes.
  6. Interest rates are below 4% for now until the FED will decide what to do.
  7. Consumer confidence is 9-year high.
  8. Unemployment rates are 8-year low.
  9. Majority do not plan to sell their home when they retire.
  10. Most homeowners, as a matter of fact 92% of them, have equity in their homes, which is why we have seen a very low supply of short sales and foreclosure homes.

 

10 Key Points to Remember about 2017 Market Outlook:

 

  1. We will see a modest price increase in 2017 of about 3%.
  2. A 2% increase in sales.
  3. The American dream and homeownership is still very important for the Millennials.
  4. Investors buyers are dropping, but still active in the lower-priced market.
  5. Unemployment in California will be around 5.3%.
  6. Interest rate projected at 5% in five years.
  7. Home prices will grow steadily next year.
  8. Biggest challenge for buyers in 2017: lack of affordability.
  9. Buyers will need to educate themselves on our market, the various loan programs, and the down payment assistance.
  10. Pursue your dreams and find a way to build your own equity by stopping to rent and buying a home.

 

For more info on running and real estate, whether buying or selling, please e-mail me at carmenmicsa@yahoo.com, or call me at 916-342-2446. Running for real estate with joy!

 

 

Tips and thoughts about running and real estate.