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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.

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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!!

 

We’re Off to the Races

April 27 will be a busy day in Sacramento for My Broker Donates. Our non-profit partner, WEAVE, a providWalter in heels from behinder of crisis intervention services for survivors of domestic violence and sexual assault is having their fundraiser, Walk a Mile in Her Shoes. Capitol Mall will be swarmed by more than 700 men who will walk, run, and hobble the one-mile course while wearing high heels. Look for our very own Walter Helm, MBD’s Sacramento Regional Director, who plans on running the entire course with his service dog in training. Enter to win one of six Starbucks Gift Cards to be given away at the My Broker Donates booth. Race starts at one o’clock.

 

Up early that day? Run a few laps at the ever popular Race for the Stars, a fund raiser for the San Juan Education Foundation. Proceeds go to support the many supplemental programs that help make the San Juan School district, with its 40,000 students, so very successful. First race starts at 8 am at the Rio Americano High School track. My Broker Donates will be there so stop by and enter to win one of six Starbucks gift cards.

 

Let the Band Play On

SJEFkids-music

My Broker Donates welcomes our newest non-profit partner: San Juan Education Foundation. Providing a child with the tools for success not only develops a strong workforce, it contributes to the strength and safety of our community. Their passionate parents and business leaders help provide all students with an excellent education that enables them to be competitive in the challenging workplace of the future.

The goal of SJEF’s grassroots support is to provide the catalyst for increasing numbers of teachers to innovate and improve the educational experience. Community investment in San Juan education benefits not only their students, but the community itself. As a district-wide foundation with a focus on science, technology, arts, and reading, the Foundation can leverage, target and maximize a large pool of resources, often from outside our San Juan community. This creates a greater impact compared to individual schools working alone.

As a strong, high-achieving community, they are not satisfied with the status quo in their schools. SJEF cannot depend on government funding alone to provide the high caliber educational opportunities their students need and they demand. They believe it is critically important to enrich the classroom experience and offer support to teachers who want to be creative, innovative and challenge students.

By providing funds for teacher-driven learning projects where public funding falls short, the foundation rewards initiative and creativity and helps ensure that children are not denied critical learning opportunities.

When you buy or sell a home using a trusted agent from My Broker Donates, not only will you get the best agent in the business, but My Broker Donates will make a sizable donation to San Juan Education Foundation at closing. And, of course, our agent matching service will cost you nothing. We are honored to have been chosen to partner with SJEF.