It’s true! Or, at least according to what the news services are reporting. While the country is experiencing a decline in prices and sales we continue to increase. Here are the numbers for the last 2 weeks (the blue numbers are links to that list):
Looking at the chart above you will see many price reductions; a high number for the number of new listings. Is this what others are reporting as a declining price market?
This is more proof that although a great amount of information is readily available on the internet and other places, if you are serious you need an expert! Now you may be ready to ask “If prices are going down how can the be going up?”.
To get that answer be sure to continue following our blog. If time is of the essence (urgent) just give us a call at 530 315-2808. If you are thinking about selling your home CALL NOW!
If you are thinking about buying you might want to act quickly! Not only are prices continuing to raise, properly priced homes are selling quickly. Of the 69 listed last week 7 are already in contract! Last week had an even higher percentage: of the 55 new listings 10 were in contract within 5 days!
That’s the word according to the big news casts! I just heard it again last night. That may be correct for the nation as a whole, but NOT for our area! Here are the stats from last week, and the same period last year. (This year’s numbers are in blue and link to the lists for that category.
As you can see we are doing MORE sales and more listings than 2013. You might also notice that the price reductions are double last years. If you have been following our blog this is no surprise. To those just joining us this does not mean prices are dropping.
This high number is the result of listings coming to market with unrealistic expectations. As these sit their owners are missing out on opportunities; a buyer that might have liked theirs has gone (and many purchased) elsewhere.
Finding the right agent is critical. It can mean the difference of THOUSANDS of DOLLARS in your pocket. And the security and protection to keep them there. Find out how:
Below are the numbers for last week’s Real Estate activity in Yuba and Sutter Counties. Once again the sales fell just short of new listings. The difference between sold homes and those actually close is just about equal. One surprising number is that the price reductions nearly equal the sales again!
To view the homes in any of the above categories just click on the number.
Inventory has been raising and continues to increase slowly. Since inventory is increasing now might be the time to sell!
Good news? Right now prices are still low, interest rates are low, and good deals are happening daily. Why would you not buy now?
What’s wrong with TV news? We don’t know that anything is “wrong” with their reporting of the real estate happenings. Remember, they are reporting on a national scale. And their information is very stale compared to what you get right here. We do see that compared to their numbers the activity for our area is much more positive!
2014 is still a great year for people who know how to utilize the tools given them. We still have first time investors entering the market because NOW is the time when all the numbers line up. OPPORTUNITY IS KNOCKING! Will you answer?
If you are thinking about buying or selling real estate in the near future, now is the best time for action.
Inventory is increasing! A quick look at the numbers from last week (and the previous couple weeks) shows that we have been listing more homes than we are selling. So far this month we have closed 137 transactions and listed 256 including the Back-on-Market listings.
Sales numbers are down slightly, and less than the new offerings this week. With 65 homes sold, that’s a ratio of about 77%. Price reductions seem to be continuing at a high rate also. And…this week saw 7 price increases!
Here are the stats for you “number folks”. A click on the number in the chart below will get you a list of the homes included in that category.
According to a recent report published by PropertyRadar California retail sales of homes was down 4.2% from July of this year, and a whopping 13.5% compared to August of 2013. We felt we have not seen this in our market so I looked into it.
Looking at our own reports and confirming with the MLS our area did MUCH BETTER! During the month of August 2013 we wrote contracts on 279 homes that were accepted and closed 221. This year’s August numbers were 315 contracts accepted and 219 closed (yes, a drop of 1% closed sales).
Our area is not immune to the influences that caused the drop; we normally follow a month or two later. What does this mean to you? If you are thinking about selling you might want to do it now, before sales drop off.
If you are thinking about buying now is good because when sales slow sellers start pulling their home from the market to await a better price. Therefore your choices will be reduced!
Traditionally autumn is the time when real estate activity begins its annual slow-down. So far we are not seeing it! New listings continue to come to market and the current inventory continues to be sold.
Below are the numbers for last week’s Real Estate activity in Yuba and Sutter Counties. Once again the sales fell behind new listings (including the “Back on Market” homes) just as they did with the recent weeks.
Price reductions continue at a high rate. We feel this is not something to be alarmed about. Some homes are coming to market with an over-optimistic or unrealistic asking price. Consult your Realtor® or call us (or just click the button below) to verify the market value of any home you are interested in.
Good news? Right now prices are stable, interest rates are low, and good deals are happening daily. Why would you not buy now?
Cautionary news? There have been some changes in the way loans can be made. Requirements are increasing for some types of loans. Down payment assistance programs will see this first, and be hit the hardest (at least for right now).
2014 is looking like another great year for people who know how to utilize the tools available to them. First time buyers; beginning or experienced investor; trading up, downsizing: OPPORTUNITY IS KNOCKING! Will you answer?
Who do YOU know that might be thinking about buying or selling real estate in the near future? Now is the best time for action.
For some time now California legislators have been trying to push a bill through that we believe would hurt home owners. While the core problem this bill was trying to address may have been valid, this was the wrong way to go.
In a nutshell the bill allowed virtually anyone to place a lien against a home. There was no need to prove that money is owed, just place the lien, and then go to court. The original idea was to protect wage earners from employers that might try to skip out on wages due. The bill allowed ANYONE to file the lien FIRST.
One did not need to even be an employee; that would be confirmed or disputed later. In our eyes this total circumvents the American ideal of innocence until proof of guilt. The bill’s intention may have been good, but the impact was not.
The bill was AB 2416. It was defeated Friday. To pass it needed 21 yes votes. It received only 13. This is another example of how Realtors® are working to protect home owner’s rights. This was done at OUR expense, not tax dollars!
Federal Housing Administration (FHA) has announced that borrowers who prepay their FHA-insured mortgages will not have to pay a pre-payment penalty. The new rule goes into effect on loans that close on or after 21 January 2015. Please note that this currently applies only to single family homes.
Another change coming is a new rule to make sure certain information is provided to borrowers earlier than has been allowed. These changes seem to affect the adjustable rate FHA loans (yes, they are still available!).
For more info go to the FHA site, or just click here: