I just heard from Mike Lyon, the CEO of Lyon Real Estate, who says the Sacramento market is exploding. Well, he didn't really need to tell me that because I've been too busy to even post a blog lately. I have buyers three-deep and back-to-back. I'm writing offers hand-over-fist and trying to keep up with buyer showings. The market is very strong right now, especially for homes priced under $400,000.
What's not so surprising is 65% of the sales are foreclosures!
Mike says the $250,000 market is RED HOT, and I agree. Lots of investors are making offers, and buyers are crawling out of the woodwork, feeling more comfortable about the buyer's market, deciding it's a good time to buy and IT IS! Some of the deals are phenomenal. I just put an investor into a Land Park home for less than $300,000 -- a three bedroom, two bath home. Land Park is a desirable neighborhood within walking distance of downtown, and most of the homes sell over $400,000, some for more than a million.
Pending sales are a VERTICAL LINE on the graph, which means they are going straight up. Sales are up 30% over last year at this time. The report hasn't yet been released, but when it is, I will post it.
Today, I wrote two offers and showed two homes. I haven't had a day off since Christmas. I wake up and hit the streets running. Every day has been nonstop action.
I love this market, and I love being a Realtor!
Comments(9)