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Sacramento Currents November 17, 2014 – Foreclosures Down Across State

While California’s real estate market has remained flat throughout the year, recent studies revealed that markets may be making a turn for the best. In addition to September’s jump in sales, a new study has found that foreclosures across California have hit their lowest mark in over eight years – the latest sign that our economy is finally catching up with the housing market.

According to San Diego-based research firm DataQuick, fewer foreclosures were initiated across California in the third quarter of 2014 than any in the past eight years. If you are facing a foreclosure or short sale situation, we have the experienced agent who can help. For peace of mind, call us now.

Sac Oct 2014Last month we noted that inventory – homes for sale – was up, and new sales were down a bit. In October, however, inventory has dropped, and although closings has also dropped, new sales bounced up. This time of year, people take unsold homes off them market for the holidays, which begins to account for lower inventory numbers. Look for this to continue to decline until about March of next year. More sales this time of year is a bit unusual, but we can put it down to the lowest mortgage rates in more than a year.  With mortgage rates lower, and prices flattening, buyers can take their pick of eligible homes, and they can afford to buy when the time comes. Although closings are steady over the past few months, they are down 17.5% from this time last year. 

Leading the strongest markets right now continue to be Sacramento-Midtown and Davis.

Patient buyers will be rewarded with particularly juicy properties. Savvy sellers need to price their properties correctly to achieve their goals.

 

jackSacramento Currents focuses on Sacramento County single family home sales for one month. We are happy to provide detailed reports for your specific area without cost or obligation. Simply complete and submit the form here.

Jack McLaughlin is a market analyst and president of My Broker Donates.

Sweetener.

Getting the very best real estate agent not enough for you?

Still glued to the couch even though you can help your favorite nonprofit for free?

Can’t entice you sellers with a big tax deduction next year?

Okay, how about a big, fat gift card? Costco Cash Card

That’s right, MBD has teamed up with our friends at COSTCO to send you a $250 cash card when your transaction closes. Here’s all you need to do:
Fill out our form between now and March 30, 2015.
• Buy or sell real estate using the services of a fine agent matched to you by MBD.
• Close escrow no later than June 30, 2015.

Once we receive confirmation of the closing, we will send you your card, good for purchases at any branch of COSTCO.

Simple as that.

Why gamble? If you are a buyer, our agent will use her inside track to find you just the right home. Sellers? Not only will our Realtor save you money, but you will get to deduct a large donation to your favorite charity, to the full extent allowed by law.

Click or call now, toll free 888-623-2823

New Listings Surge

The big end of Summer story is the huge jump in inventory over the past three months. The beginning of the year, listings were rather flat, with little change between December of 2013 (2,315 homes) and March (2,412). Then the spike in listings began, until in August we had 3,450 homes on the market, a jump of over a thousand homes from the March numbers.

Sac Sept chartHow big is the inventory bubble? The number of homes for sale in August is up more than 29% over a year ago, and a whopping 41% quarter on quarter. While closings have remained steady, as we predicted back in our June Sacramento Currents, the glut of inventory has caused Closed Sales Prices to peak in July, and drop off a bit in August, to a seasonally-adjusted $304,000. With mortgage rates stable, and prices flattening, buyers can take their pick of eligible homes, and they can afford to buy when the time comes. Buyers, however, are not as hungry as they were a year ago, although closings are steady over the past few months, they are down 17.5% from this time last year.

Leading the strongest markets right now continue to be Sacramento-Midtown and Davis.

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Patient buyers will be rewarded with particularly juicy properties. Savvy sellers need to price their properties correctly to achieve their goals.

jack

 

Sacramento Currents focuses on Sacramento County single family home sales for one month. We are happy to provide detailed reports for your specific area without cost or obligation. Simply complete and submit the form here.

Jack McLaughlin is a market analyst and president of My Broker Donates.

MBD and the 99%

google protestLast month we launched another new partnership with San Francisco public radio station, KALW. Local residents here, some of them native born and many long time residents, are in the middle of significant city change, which for many means rent increases or evictions to make room for deep pocketed newcomers. Some listeners were distressed to hear what sounded like their trusted radio partner supporting these changes by airing radio spots for My Broker Donates.

One reason we started My Broker Donates was in response to the fact that wealth in America has been undergoing a fundamental shift, benefiting the already wealthy at the expense of the rest of us. Our goal is to match real estate buyers and sellers with the most qualified Realtor, and to tap the commissions so that funds flow to worthy nonprofits like our public radio friends. And we are very pleased that in our short lifetime numerous clients have used our services and we have sent many thousands of dollars to charities throughout the nation.

We believe that nonprofits like public radio add value to their communities. And this value shows up in real estate prices. Traditionally, this value does not go to the radio station. That’s where we come in: Our goal is to extract a bit of the value and return most of that investment to the station. And, yes, we keep a portion to keep our business running.

As a philosopher once said, “If you are not part of the solution, you’re part of the problem.” at My Broker Donates, we are committed to being part of the solution, and we are working to that end.

 

 

Sacramento Currents – Home Closings Drop in June 2014

For the first time in 2014, the number of closed sales declined from the previous month. We can attribute this drop to resistance and buyers are either cancelling or extending their escrows. Meanwhile, the number of Pended sales – properties under contract – continued to climb in June, to the highest level in over a year. Inventory in June spiked, up ten percent over May. Buyers are out in force. June Closed Sales and Pendeds are essentially flat, reflecting market stability. We predict that sales have peaked, and will slowly decline for the remainder of 2014. Some 1,661 homes went under firm contract. With Pendeds and Solds stable, we note that inventory – homes For Sale – continues to rise. Buyers, therefore, have more to choose from, and If this trend continues, we may see some softening of prices overall, helping to keep homes affordable.

July 8, 2014 SAC Real estate

When we look back one year, we can see what a huge shift in our market continues. In June of 2013, there were 2019 houses and condos for sale; compare that with this June, when there are 3182  available. A jump in  inventory of nearly fifty-eight percent! Number of closed sales in June is down this year, by about 6%. That means if you are a buyer, you have plenty of properties to choose from. On the other hand, well located, properly priced homes are very much in demand and sell right away, sometimes with more than one offer. Leading the strongest markets right now are Sacramento Midtown and Davis.

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Patient buyers will be rewarded with particularly juicy properties. Savvy sellers need to price their properties correctly to achieve their goals.

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jack

 

Sacramento Currents focuses on Sacramento County single family home sales for one month. We are happy to provide detailed reports for your specific area without cost or obligation. Simply complete and submit the form here.

Jack McLaughlin is a market analyst and president of My Broker Donates.

Sacramento Currents – Pending Purchases Surge

Buyers are out in force. May pendings (homes under contract) continued their meteoric rise, with more than 1,700 homes in escrow, a recent record (red line). The good news is that sellers are cooperating, putting their homes up for sale and keeping pace with buyer demand. This helps keep prices in line and homes affordable.

Sac chart June 2014When we look back one year, we can see what a huge shift our market has undergone. In May of 2013, there were 1694 houses and condos for sale; compare that with this year, when there are 2878 available. A huge inventory increase of seventy percent! Number of closed sales in May is down this year, by about 18%. That means if you are a buyer, you have plenty of properties to choose from. On the other hand, well located, properly priced homes are very much in demand and sell right away, sometimes with more than one offer. Particularly hot right now are Sac Metro and Davis.

MBD Sac June 2014graphDiligent buyers will be rewarded with particularly juicy properties. Patient sellers will be rewarded.

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jack

 

Sacramento Currents focuses on Sacramento County single family home sales for one month. We are happy to provide detailed reports for your specific area without cost or obligation. Simply complete and submit the form here.

Jack McLaughlin is a market analyst and president of My Broker Donates.

 

 

 

 

Sacramento Currents – Sales Prices, Pending Purchases on the Rise

Home prices are up, and new sales have been reducing inventory since beginning of 2014. A year ago, Pended sales (red line) began a seasonal decline that lasted until the end of the year. Inventory (light green bars), however, continued to grow as owners realized that the recession was over and they could now sell their homes. This pent up supply and buyer retreat provided a general cooling-off. Since the beginning of the year, however, pending sales have outpaced closings, and matched new listings, helping balance the market. We predict that sixty days from now we will see a new high in closed sales numbers (dark green bars).

May Sac RE figures

Property values are up 16% year on year, based on price/square foot. You may hear reports of higher appreciation, based solely on sold prices, but we think those numbers are skewed because  the easing of credit and boost in consumer confidence is causing more demand for the pricier properties. Price/square foot gives us more of an apples = apples result.

Historically low mortgage rates and a slight easing of credit make this an opportune time to buy. Thinking of selling your home and buying up? This is your time. If you are an owner who has been impatient to sell, step right up. On the other hand, we expect to see price appreciation over the next couple of years, so what’s your hurry?

 

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jack

Sacramento Currents focuses on Sacramento County single family home sales for one month. We are happy to provide detailed reports for your specific area without cost or obligation. Simply complete and submit the form or call Toll-Free: 888-MBD-2823 (888-623-2823)

Jack McLaughlin is a market analyst and president of My Broker Donates

Putting St. Joseph Out of Business

st-joseph-homesellerEven in the super hot markets in some parts of the country, there are always houses that just don’t sell. Many of us would use our reasoning ability to discover why they are stalled. Is the building in disrepair; is it on a busy street, in a high crime area? Perhaps it is over-priced or the agent is not doing her job? if you are the frustrated owner of a home that is not selling, and you don’t like any of the reasons why, fear not: there is another option for you. Petitioning St. Joseph, of course.

How St. Joseph got this job, we don’t know. After all, isn’t St. Jude the patron saint of hopeless causes? Nonetheless, legend has it that if you bury a St. Joe statue a certain distance from your house, and at a specific depth, say a prayer, and twirl around three times (okay, we made that part up!), your house will sell.

Here are some of the actual prayers we found on the internet:

This one puts St. J. on a schedule. Dearest St. Joseph, I ask you to assist in anyway  you can to complete the sale of our condo by June 13, 2014. I am humbled by  your willingness to assist …

These folks want to re-use a prior statue.  Please sell our house fast. We buried a statue in the past and do not have another one. We have been trying to sell our house for many years…

And this man wants the saint to act in one day, truly a miracle. Joseph help me sell my house easily and speedily within a day from today. Am in the process of buying another property…

Here at MBD, we think we have a better way to get your home sold. There is no substitute for hiring the right agent. Someone who has demonstrated her ability to get the job done, in your exact area, time and again. An agent who has the respect of her peers. Someone reputable, trustworthy and honest. Who cares about others and gives back to her community. As brokers, we have the inside track for finding the exact right agent.

Let St. Joseph go back to selling aspirin, and give MBD a call to sell your house.

Do you agree every child needs and deserves a permanent, loving family?

Happy Family on a SlideSierra Forever Families is a private, nonprofit agency that focuses on finding and nurturing permanent families for children living in foster care. Founded in 1983, Sierra celebrates its 30th anniversary, and more importantly, the placement of more than 3,000 children into forever families. Through the agency’s innovative programs, it has become an industry leader known for advocating finding homes for all children including older youth and large sibling groups.

Sierra is licensed to provide foster care and adoption services in twelve Central California counties. Sierra also provides post-adoption services to rural Northern California counties at two California Department of Social Services sites in Chico and Sacramento.

When you reach out to My Broker Donates to find your best-in-market agent, select Sierra to receive your donation. My Broker Donates is proud to be a funding partner of Sierra Forever Families.

 

KKCR No Ka Oi!

KKCR logo-full-lgIn the face of media homogenization, KKCR seeks to preserve, perpetuate and celebrate Hawaiian culture. Kauai’s independent, non-commercial, listener-supported community radio station aims to educate as well as entertain their audience. Since they reflect the diversity of the local and world community, they provide a forum for overlooked, suppressed, or under-represented voices and music. Our new partner, the nonprofit Kekahu Foundation facilitates this broadcasting opportunity.

Mahalo for Supporting KKCR!!