October 2018 Sacramento Real Estate Market Stats

By
Real Estate Agent with RE/MAX Gold DRE #00697006

Home buyers in Sacramento know something is changing in our real estate market, but they are not sure what that means to them, exactly. Some interpret the change to mean they can make crazy lowball offers, which they always can if they can find an agent to pursue that strategy. Others need to buy a home today. Between the two, we all know which agents prefer to work with.

On the other hand, sellers haven't quite gotten the word. A potential seller called me yesterday to say she would like to sell her home AS IS -- and let me add that Chris Ann Cleland was right in that some sellers don't know the extent of those words. She said her home needed work and had no updates. In pondering a sale, she suggested that she remove the carpeting and install ceramic tile or else just deduct the cost of that installation from its market value.

Those 2 choices were the best she came up with and had obviously thought this through.

You can't laugh when people say things like this because they will  hang up on you.

She also noticed a few homes had sold in her neighborhood over $300K. After I looked at her previous listing from 1998 online and pulled the comparable sales, it was clear to me that her home was worth closer to $265K.

Those other sales she gravitated toward were updated homes and larger. This is a difficult concept for sellers to grasp. That nicer homes and larger homes make their smaller and not-so-updated homes worth much less. They view real estate as the same product, like loaves of bread on a grocery store shelf.

Well, you can see all of our market stats and many charts displaying activity in our Sacramento real estate market in the following link. Please read more in my personal blog today at this link: Sacramento Housing Market Report Reflects Seasonal Dip.

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elizabeth weintraub

 

 

Weintraub and Wallace Realtors

 

 

Elizabeth Weintraub reviews

 

 

 

Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Topic:
Real Estate Market Trends
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California Sacramento County Sacramento
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Northern California Real Estate Professionals
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Tags:
sacramento realtor
sacramento real estate market trends
sacramento county housing report october 2018
is this a good time to buy in sacramento
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Rainmaker
995,222
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

That is the exact reason homes do not sell well. They look at earlier data thinking they can at least sell at such price. The reality is market has stabilized and all homes are selling -5 to -12% less. So you list a similar home that was sold at 1.2M in March and found out there is no taker and have to make multiple adjustments.  Another reason is 5% interest rate freak out may potential home buyers. The interest rate was too low for too long.....

Nov 11, 2018 10:40 AM #1
Ambassador
3,982,263
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It is a moving target and constantly changing. There are so many factors that affect value and seasons and holidays are two of them.

Nov 11, 2018 05:22 PM #2
Rainmaker
156,911
John Henry
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

Good observations about your market.  Is this a statewide trend?  I was in your area looking to work with a developer and another builder several years back and remember the rolling hills looking west one afternoon that just seemed magnificent in the haze and setting sun.  The ideal of California beauty.

Nov 11, 2018 05:48 PM #3
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your  housing market. Thank you for sharing.

Nov 12, 2018 05:20 AM #4
Rainmaker
4,041,657
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, it is amazing how many homeowners look at other homes in the area and not think about the SF or updating, and think their home is worth the same amount.    Will you be listing her house?

Nov 12, 2018 07:15 AM #5
Rainmaker
3,272,306
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning,  Elizabeth- - -so much of a real estate professionals role is to listen and explain.  The "art" of this communication is paramount.  Local knowledge should offer insight too.

Nov 12, 2018 10:45 AM #6
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Sam Shueh They have a list of homes that have sold because they think we don't know, LOL. Often a seller will point to wildly dissimilar home in another neighborhood and defiantly state they should get the same. Sometimes it's worth discussing but sometimes they are so stubborn it's a losing proposition.

Nov 12, 2018 12:03 PM #7
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Debbie Reynolds I have a couple new listings coming up that I prefer to put on the market on Nov. 30th, just to get past the holiday lull and not rack up days on market. One might have to go this weekend though. Definitely nothing the week after.

Nov 12, 2018 12:05 PM #8
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

John Henry I have heard similar stories from other agents throughout California. It's the type of thing agents don't like to talk about.

If you spotted rolling hills to the west in Sacramento, perhaps you were closer to Napa? I can spot snow in the Sierra easier than the Coastal range.

Nov 12, 2018 12:06 PM #9
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Gita Bantwal Thank you for stopping by.

Nov 12, 2018 12:07 PM #10
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Joan Cox If she were to decide to sell. But as I pointed out to her, the title on the house is not even in her name. I think she was just gathering information and was not really ready to sell.

Nov 12, 2018 12:08 PM #11
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Michael Jacobs The basic problem is an agent's opinion is only as good as the agent's involvement in the marketplace. Some harbor certain opinions that are flat out wrong.

Nov 12, 2018 12:09 PM #12
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