Notable Listings

Ran across this listing earlier this morning.



MLS #70067062

Listed 6/20/06 for $879,000
Withdrawn 8/12/06 @ $879,000

Listed 3/16/07 for $910,000
Withdrawn 6/21/06 @ $910,000

Listed 6/22/07 for $865,000
Reduced 12/17/07 to $600,000

Different real estate company each listing period.

I like what I'm seeing out at the Ranch in Wilton. If they didn't have HOA fees of $158/month, I might be inclined to seriously consider those homes. Considering the sellers paid $807,500 on 9/15/05, this pricing is a step in the right direction.

Elk Grove...Then and Now

Having lived in or around Elk Grove for many years, I've followed it closer than any other market. We purchased our first home there nearly 15 years ago, and have seen the market at the very bottom as well as (more recently) the very top. After selling our home in May of 2006, I decided to track the numbers for Elk Grove and see where they ended up after a year or two. I have broken the data down into price ranges, since that's typically how most people shop for a home. Also, the data represents sold homes only for the previous 30 days.

$300,000 - $399,999

May 2006

Avg Sq Ft - 1365
Abg $/SF - $268.89
# Homes Sold - 50
Avg. DOM - 41

December 2007

Avg Sq Ft - 2230 (63% increase)
Abg $/SF - $155.06 (42% decrease)
# Homes Sold - 43
Avg. DOM - 68

$400,000 - $499,999

May 2006

Avg Sq Ft - 2001
Abg $/SF - $227.60
# Homes Sold - 66
Avg. DOM - 46

December 2007

Avg Sq Ft - 2740 (37% increase)
Abg $/SF - $156.34 (31% decrease)
# Homes Sold - 21
Avg. DOM - 58

Sacramento Regional Real Estate Trends for December 15, 2007

Too much Christmas stuff to do today, so the commentary will be rather light. Looks like inventory isn't dropping as rapidly as it did last year at this time. Also of note, the average price/sqft for Sacramento is now $199, falling below $200 for the first time in several years. Lastly, the SIT metrics continue to deteriorate, even in the face of end-of-the-year inventory reductions. According to some rumors, banks are beginning to discount recent REOs heavily in an effort to get ahead of the market. Watch this space for further developments.