I have been asked on many occassions by residents and non-residents of Folsom, how I thought home values were doing compared to the overall market. Obviously, there can be no denying that values have dropped considerably since the peak in 2005 (Around 17% by my estimation). In comparison to other areas in the vicinity, Folsom has held its own. Homes are selling, sometimes with multiple offers, at values that are equal to those of early Spring,2004. While that may make some residents wince when they hear it, usually because they purchased in 2004 or 2005, it is the silver lining of this down market. Some other cities (Elk Grove, Roseville, Lincoln, Rocklin) have experienced much sharper declines. There are the obvious factors, such as over-building and steeper appreciation during the boom times.<br>
Sutter Street 1914
Sutter Street 2007
I believe that Folsom has remained more stable mainly because of the many "extras" that it has to offer. Where else can you go in the region to find a lake, historic oldtown, river access, short drive to Tahoe, great schools, core businesses and a relatively short commute to downtown Sacramento? Folsom is a place in which people still would like to move. It was never just a place to find a cheap house. Those who feel that there is a lack of culture, need only drive to downtown Sac, head to Napa or make a trip to the Bay Area to find the other things that they want.
There are plans in place for a new open air mall (Paladio), a complete renovation of oldtown, a new amphitheater, new bridge to replace the former Folsom Dam Road and two new freeway interchanges. No wonder Folsom remains so desirable!
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