Sacramento Real Estate - Crystal Ball - Latest Monthly Stats

Wondered what is happening with Real Estate in Sacramento County? Here are the stats for June, July, August and up to *Sept. 15, 2006. I reveal what my crystal ball indicates for Real Estate below.

While I look at my Crystal Ball, what I am finding is that obviously prices of homes are down. Most realtor have figured that out by now as well as many sellers and have placed their properties for sale at a competitive price. My thoughts of where the buyers are is strictly my own. I feel that buyers are first of all scared, secondly buyers believe that prices will continue to fall and they don't want to get nailed with having paid too much for a home. This is a gamble...my feeling is that buyers will wait until such time as the interest rate increases whereby the savings they would have made in a home will be eaten up by the mortgage rate. And some buyers will find they won't qualify simply because they waited too long for the price of a home to go down and never dreamed that the interest rate would go up. Don't be caught in that scenario!

Of course there are those buyers that are educated and realize that this is the best time to buy and are in the process or have completed their purchase. Real Estate will always be a very good investment. Typically, the curve is every 10 years so as long as you expect to stay in a home for 5-7 years, then you will be ahead of the game. The frenzy is over with soaring prices but that was unusual and we are back to a realistic market.

So, if you are a buyer on the fence, my suggestion is to get off before you are knocked off. This is YOUR time now, so take full advantage and get in and buy a piece of the American Dream so that you too, can have years of equity and stability. Don't be afraid...you too can have a smile on your face and enjoy your own home instead of paying someone else to have a home that you rent. Go for it! You 'll be glad you did!