Another trend we are seeing is that the number of price reductions is decreasing. Will this continue? Only time will tell. We hope so; that would indicate sellers are being better informed BEFORE they put their home on the market.
Another interesting pattern is that we continue to show better results than the nation as a whole! We are even outperforming California’s numbers. Our holiday slow-down was less, our prices have maintained, quality seems to be back.
Do you know what your home is worth in today’s market?
Have other Real Estate questions? Answers are only a click away: facebook, email, phone or text. You ask, we answer; it really is that simple. When you’re ready we’re here!
At least for the number of homes sold! Of the last 5 weeks, 37 has been the number of homes sold 4 times (one was actually 38)! The good news is that we also listed 67, (including the Back-on-Market homes).
And, as has been the norm of late, 45 homes were reduced in price looking for a buyer.
Is your next home about to be sold to someone else? Take a look:
Does the number of price reductions mean we are in a declining market? No, I don’t think so. Most of the homes having price reductions were brought to market with unrealistic prices. The value of homes selling is actually increasing slightly. They are up from last year, and marginally from last month.
Last week we mentioned the “contingency Sale”. What is it? What are the advantages and disadvantages? We’ll answer these and more this week. Stay tuned!
Many of us find the need to change our home as our family dynamics change. A common challenge is the financial aspect. The family has grown, more space is needed. The budget has grown; more space is affordable. But this home is not paid for!
One solution is called a “Contingency Sale”. Although used successfully, this method has some draw-backs. We’ll cover these in another article. Of course, if you need this info NOW just click the Contact us button below.
Another, possibly better, method is now being offered by one of our lending partners. If you are looking to buy a new home, then sell your current home, they have a loan just for you. Look at this:
The Yuba-Sutter area continues to have a low inventory of retail homes. While last week was a short week with the holidays, we still sold 37 homes while only listing 29. That means this is a great time to list your home!
To see the list of homes under each category just click on the number.
Have you seen the NEW newsletter Yuba-Sutter Real Estate? It is another source of great information, for both the home seeker as well as the home owner. To preview a copy just click on the name. If you ‘d like to be notified each month as new releases are published click the “subscribe” button at the bottom. It is FREE and RISK FREE.
Have you noticed there are less bank owned homes for sale? While there were some good deals to be found, we see this as a sign our economy is on the mend. The promised second wave of foreclosures never got here, and we are grateful.
Are you looking for a list that isn’t included above? Contact us today: email, phone, text, facebook, letter, web site. We make it easy (sorry, still working on the smoke signals).
Inventory continues to be low. In the past we figured a 3-4 month inventory to be normal. At last week’s sales rate that would mean we should have an inventory of about 700 to 1000. Our current inventory is FAR BELOW that number!
If you are thinking of selling…this is good news! At least in part. It does not mean you are likely to get an unreasonable price for your home; you will get a FAIR price. Buyers will be less likely to argue for unreasonably low prices because their selection is lower.
Fewer homes on the market means fewer homes LIKE YOURS are available. This is important in a market where buyers are driven by need rather than looking for monetary gain from their home. We think this is today’s market.
Your home will sell quicker! Again, with fewer homes like yours on the market a buyer knows that not moving quickly may well mean someone else buys the home they want. Talk to your expert today. Get the facts as they relate to YOU. Call 530 315-2808.
If a person is here legally (but not a citizen) and would like to buy a home cash has been the rule since the crash. THAT HAS CHANGED! We have partnered with a lender willing to make loans to legal non-citizens for a home purchase. Take a look at this:
Give them a call, or call us. We’ll get you started today!
There was a significant jump in the number of new listings this week! This number (54) is with the new filtering in place. I have personally checked the list for you. We did indeed have a spike in new listings.
Other stats remained consistent. There also seems to be a good mix of price ranges (including the over-optimistic). What this means for you, the buyer is that right now there is an unusually high number of options. I don’t expect this imbalance to last long so if you are thinking about buying quick action might be prudent.
For a quick reference to the homes under each category in the chart above just click the number for a list. Like us to do the work for you? Just let us know!
It’s true! The number of each category has gone down a bit. Part of this is due not to the market change but in the way the numbers are reported. In an effort to get homes sold faster and for better terms some agents are now listing them in multiple MLS systems. As I pull these numbers the duplicates are not removed. I’m not sure when this occurred.
Going forward we will be removing these duplicates for you, even if, as today, we have to do it manually. In our opinion there is little sense providing these if they’re not as accurate as we can make them. That said, here are the filtered numbers for last week:
The overall market in our area seems to be experiencing its annual slow-down to some extent. Sales and new listings have slowed compared to recent activity, are down a bit from last year at this time, but are still ahead of “normal” for the holiday season.
Interest rates are still VERY low, prices are climbing slightly (about the normal rate) and activity continues. Is today a good time to sell or buy? Talk to your Realtor®, or drop us a line. Get the real information for your specific situation.
Although still moving faster than the national average, real estate activity has slowed in our area. We don’t see this as cause for alarm however; with the holidays approaching folks have family get-togethers and other things on their mind.
If you are thinking about buying this might be the ideal time for you. Those who already have their home listed but haven’t sold could be more receptive to reasonable offers, especially if we could close before the main holiday season get here!
I think most know that there are options that allow one to purchase a home with much less than 20% down. There are multiple! The smallest down, or lowest interest, or any other one factor might not be the best option for you.