I thought you guys find this interesting.  I was looking at some sales statistics in Sacramento County.  This numbers are as of May 15, 2008.  Let me know what you think and if you would like more content like this.

In Sacramento County, there are presently 2459 active foreclosures listings (single family homes, condos and half plexes). 

There are presently 2740 foreclosures in escrow.

The average listing price for the pending homes was $199,429. 

The average time it took to get an accepted offer was 46 days.

The median listing prices for the pending homes was $185,000.

The median time it took to get an accepted offer was 20 days.

1356 foreclosures sold from 4/1/08 to 5/15/08 or over 30 per day. 

The average listing price for the sold homes was $211,444. 

The average sales price for the sold homes was $207,250 or 98.02% of the list price. 

The average time it took to get an accepted offer was 56 days.

The median listing prices for the sold homes was $198,450.

The median sales price for the sold homes was $195,000 or 98.26% of the list price.

The median time it took to get an accepted offer was 26 days.

1109 foreclosures sold between 2/15/08 and 3/31/08 or 24.64 per day. 

The average listing price for the sold homes was $228,564. 

The average sales price for the sold homes was $220,595 or 96.51% of the list price. 

The average time it took to get an accepted offer was 57 days.

The median listing prices for the sold homes was $215,000.

The median sales price for the sold homes was $210,000 or 93.02% of the list price.

The median time it took to get an accepted offer was 34 days.

797 foreclosures sold between 1/1/08 and 2/15/08 or 17.32 per day. 

The average listing price for the sold homes was $243,102. 

The average sales price for the sold homes was $230,681 or 94.89% of the list price. 

The average time it took to get an accepted offer was 70 days.

The median listing prices for the sold homes was $232,000.

The median sales price for the sold homes was $225,000 or 96.98% of the list price.

The median time it took to get an accepted offer was 47 days.

Foreclosure Sales from 1^st period compared to 3^rd period:

Average sales price down 11.57%

Median Sales price down 13.34%

Number of Sales increased 41.32%

Average days on the market has decreased 34%

Median days on the market has decreased 57%

County/City/Area                   # Sold          Apr. 2008         Apr. 2007     % Change 

Sacramento, Placer &

Reporting resale single family

residences and condos as well as new

homes. % Change is from the same

month last year at the Median Price.

Sales include all attached and detached

homes, both new and resale, including

FSBO, family transfer and out of area

sales. The information is gathered from

public records at county recorders

offices where documents are filed after

the close of escrow.

El Dorado

11pm-3pm. Hartwick House (6237 Pleasant Valley Rd) Bring a friend and

enjoy the day. Food and fun for everyone. Music by the Buckboard

Bunch 7:00 a.m. to 4:00 p.m. Free. (530) 622-2840

Placerville

7am-8pm. El Dorado County Fairgrounds (100 Placerville Rd)

Hangtown Kennel Club of Placerville, Inc. will be hosting its annual AKC

licensed all-breed dog show. Included in the show are Conformation,

Obedience and Rally competitions. There will be a trophy presentation or

the high score in obedience as well. (530) 622-6909

May 26th~ Memorial Day Ceremony

11 am. El Dorado County Veterans Monument (360 Fair Lane) at the

EDC Government Center, corner of Ray Lawyer Dr and Fair Lane.

Memorial Day is a day of remembrance for those who have died serving

our country. This year's ceremony includes presentation of the colors,

remarks by a special guest and wreath-laying service. All are invited.

Active duty military & Veterans are encouraged to wear their uniforms

and medals. Free. (530) 642-1949. www.co.el-dorado.ca.us/veterans

Winery Events

11am-4pm. Madroña Vineyards (2560 High Hill Road, Camino)

Open to the public. Fee includes live music by Jackson Steel Band,

Cowboy Burgers & Shoestring Fries, wine tasting, Shiraz/Cabernet

release and fun for everyone. $5. (530) 644-5948

www.MadronaVineyards.com

May 23rd-26th~ Bottle Your Own Wine Event

10:30am-5pm. Conti Estate's Charles B. Mitchell Vineyards

(8221 Stoney Creek Rd, Fair Play). No reservations required. $10.

(530) 620-3467 www.charlesbmitchell.com/

I hope this email finds you well and you are adjusting to the sudden change in seasons!

As a Realtor, the most commons questions I am asked involve what is going on with the market and when we may ultimately reach the bottom.  As you are probably aware, the Sacramento Bee has always been very critical of the local market.  It often seems that they would rather report negative news than focus on anything positive.  That being said, there are a lot of exciting things happening lately and even the Bee could not help but publish a story about the sudden surge of buyers in the market.  See:

Region's home sales show big rebound in April By Jim Wasserman Published May 19, 2008

There are some incredible buying opportunities out there right now and smart buyers and investors are starting to capitalize on the situation.  In my opinion, the best buying opportunities are at the entry level price point or below (basically any home priced under $225,000).  These homes seem to be reaching the bottom point of where their values can go.  The best candidates for these houses are first time home buyers and investors.  As an example, I had a client that just closed escrow who did 100% financing through FHA on a $210,000 loan and the monthly payment with taxes and insurance was under $1600.  For investors, you are going to need to put 20-25% down.  But at purchases prices under $200,000, I could show you hundreds of examples of houses, duplexes and triplexes that will cash flow.  Last week I had a client write a full price offer on a four bedroom house for $99,000!

If you have been patiently sitting on the sidelines waiting for home prices to be affordable again, I applaud you.  It may now however be the time to get off of the sideline or at least be more prepared to get into the game.  If you would like to talk more about how to get ready to buy a house or where the best buying opportunities are, please give me a call at your earliest opportunity.  I look forward to hearing from you.

 Best,

Scott Ostrode

Keller Williams Realty

www.TeamOstrode.com

(916) 799-1662  Cell

(916) 404-3667  Office

(916) 404-3668  Fax

By the way, I am never too busy to work with your referrals!