Real Estate Market Trends by town, just click to get the link to the November 2011 Sales Statistics:

Cool Real Estate Market Trends

Garden Valley Real Estate Market Trends

Georgetown Real Estate Market Trends

Greenwood Real Estate Market Trends

Pilot Hill Real Estate Market Trends

 The entire Georgetown Divide as a whole

In general our foothill communities are out-pacing the nation. Inventory is down year over year and entry level properties are seeing stiff competition from investors that are now convinced that low interest rates coupled with affordability make for a good investment and hedge against inflation as these properties recover and not only generate income now but also have great potential for future appreciation. California Association of Realtors is stating by 2015 California will see a substantial housing shortage and that by 2020 we will see home prices double. The cause? influx of new people, the age of youth will be of home buying age, renters realizing that ownership at low interest rates is cheaper than renting and the formerly displaced homeowners from short sales and foreclosures will have sufficient credit recovery and be able to buy again.

We are now experiencing multiple offers on those properties priced well and in great condition with updates completed! The time on the market for these homes are days not weeks. Many buyers are lamenting there are not as many to choose from as they expected. With these new sales stats it is likely we will start to see prices moving from stability to marginal increases.

Barring major economic changes and global catastrophies, we are now leaving the bottom of the market. Don't wait too long to answer opportunity's knock, it could cost you more and the home you really wanted may have someone else living in it.

Here are the most current real estate market trends for November 2011 for Placer County and the communties of:

Auburn Real Estate Market Trends under $300k                 Auburn Real Estate Market Trends over $300k

Foresthill Real Estate Market Trends

Meadow Vista Real Estate Market Trends 

Newcastle

Weimar-Colfax-Applegate

In general our foothill communities are out-pacing the nation.  Inventory is down year over year and entry level properties are seeing stiff competition from investors that are now convinced that low interest rates coupled with affordability make for a good investment and hedge against inflation as these properties recover and not only generate income now but also have great potential for future appreciation.  California Association of Realtors is stating by 2015 California will see a substantial housing shortage and that by 2020 we will see home prices double.  The cause?  influx of new people, the age of youth will be of home buying age, renters realizing that ownership at low interest rates is cheaper than renting and the formerly displaced homeowners from short sales and foreclosures will have sufficient credit recovery and be able to buy again.

We are now experiencing multiple offers on those properties priced well and in great condition with updates completed!  The time on the market for these homes are days not weeks.  Many buyers are lamenting there are not as many to choose from as they expected.  With these new sales stats it is likely we will start to see prices moving from stability to marginal increases.

Barring major economic changes and global catastrophies, we are now leaving the bottom of the market.  Don't wait too long to answer opportunity's knock, it could cost you more and the home you really wanted may have someone else living in it.

If you or someone you know is considering selling their home, you can add this to list of reasons to do it sooner rather than later.

If you have substantial equity and are in a high income bracket (above $200k or $250k joint income) and are thinking about selling; you may want to divest yourself of that home in the next 12-14 months.  I've attached a flyer that goes into greater detail about how a new tax will be imposed as of January 1, 2013 on capitol gains of real estate sales among other things.

It also would apply to the sale of stocks, so you may want to consider doing a 1031 into rental income to avoid the additional tax.

Please consult your tax professional as this should not be substituded for professional tax advice.  Each individuals situation is unique, make sure you are making decisions based on facts to serve your best interest.

This 3.8% tax is part of the National Health Care Package that was voted in the dark of night in 2010.

National Association of Realtor Flyer on 2013 Tax

Efforts to help California homeowners avoid foreclosure and keep their homes received a big boost recently when Bank of America agreed to participate in a principal-reduction program.

It became the first major mortgage service company to join the program, which can offer cash-strapped mortgage holders up to $100,000 in relief on their loans. Bank of America services more than 2.2 million home loans in the state.

The program aids home-owners at risk of default because of economic hardship and a severe decline in their home values.

Those who qualify are eligible for up to $50,000 in assistance from the Keep Your Home California program and, with the mortgage lender required to match the program dollar for dollar, a total principal reduction of as much as $100,000.

While other mortgage modification programs may stretch out monthly payments or lower interest rates to make the loans more affordable, they don't reduce the principal balance.

"The principal-reduction program is one of those that many homeowners have been waiting for," said Evan Geberding, marketing manager for Keep Your Home California, a nonprofit corporation administering $2 billion in federal funds through a program to help state residents who are struggling to pay their mortgages.

It could prove a lifesaver for borrowers who find other mortgage-modification or loan-assistance programs fall short.

"We're asking homeowners to make one more phone call, give us one more chance, so you can find out if this might work for you," Geberding said. "This one really is different."

Still, it may not help everyone.

For example, mortgages owned or guaranteed by Fannie Mae or Freddie Mac are not eligible for the Principal Reduction Program.

Also, it is being supported by eight mortgage service companies.

For more information, call Keep Your Home California toll-free at (888) 954-KEEP (or (888) 954-5337) or visit KeepYourHomeCalifornia.org.

Cal Fire Fee

Gov. Jerry Brown recently signed into law a $150 annual wildfire protection fee for property owners in rural areas of California. While the regulators are still working out the details and some counties are even preparing to seek answers from the courts, we want you to be as prepared as possible with knowledge of the areas likely to be affected by this new fee. We have provided a copy of the map showing those proposed affected areas in yellow.

The company that went into the old Gottchalk's building did a soft opening today.  Get a sneak peek and great deals before the formal grand opening!

Pricing is beginning to stabilize.  We are at home values the same as 14 months ago and with inventory dipping below sales activity we may even see some price improvement sooner than expected.

	1 month	1 year	15 months
	Apr 11	May 11	% Change	May 10	May 11	% Change	Mar 10	May 11	% Change
Avg. Sq. Ft. Price	142	144	1.4%	153	144	-5.6%	160	144	-9.9

From the graph below you can see the local foothill market of Auburn is bucking the national trend.  Our sales are up in a big way!  Closed sales are up a whopping 77% from last year and pending sales are up 45%, while the inventory has dropped just under 12%.  If these patterns hold we will begin to see prices rise.  Simple economics of supply and demand.  Many price ranges and micro markets are seeing multiple offers for the most desireable properties.  For home values see the next chart

	1 month	1 year	15 months
	Apr 11	May 11	% Change	May 10	May 11	% Change	Mar 10	May 11	% Change
For Sale	102	105	2.9%	119	105	-11.8%	114	105	-7.9%
Sold	23	32	39.1%	18	32	77.8%	32	32	0%
Pended	42	45	7.1%	31	45	45.2%	23	45	96%

Plan to make a evening out with family friendly cruise night in Auburn, CA  95614.

If you haven't been to one lately you are missing out on a whole lot of fun in Auburn!

Head for the clock tower or the Chamber of Commerce if you want to walk downhill.

I just read this and wanted to pass it on!

Maybe somebody is listening to us agents!

http://theagentinsider.com/uniform-short-sale-standards-coming-for-fannie-mae-and-freddie-mac-short-sales/