Here is the State of the Real Estate Market in Land Park and Curtis Park, Sacramento

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

When my husband and I first moved to Land Park, my husband had his car stolen. A few years later, he almost had his bumper swiped right in front of our home, but the police scared off the thieves before the thugs could remove the last of 30-some screws. That's what he got for driving a Honda. So, I bought him a Prius.

Now, if I'm driving more than one buyer to see homes in Land Park, I take my husband's car because my vehicle is a roadster. The other day I took the Prius to the car wash on Broadway and 17th. You may not know this, but a Prius doesn't require a key to start it. There is a place somewhere in the car to stick a key for emergency situations -- in case you want to turn on the lights or something when the car isn't turned on -- but I don't know where that secret location is. So, I had to leave the car running for the car wash attendants.

Here are the facts and trends for the real estate market in Land Park and Curtis Park. The chart below shows the last 15 months of activity through January 2009:

land park curtis park real estate market activity

Pending sales dropped by more than half over last January. The median price in 95818 for January slid to $340,000. A year ago at this time, the median price was $466,000. That doesn't mean that home values in Land Park and Curtis Park have fallen. What this means is homes priced over $400,000 aren't selling. It's the lower-priced homes that are attracting buyers right now.

 

Here is another chart that shows the average days on market in 95818 and the original sales prices versus the closed sales prices:

land park curtis park january 2009 real estate sales

























Wow. Will you look at those average days on market? They jumped from 2 months to more than 3 months in January 2009 over December 2008. Inventory numbers spiked from 2.4 months in December to 5.9 months in January. It will take almost 6 months to sell every home that is presently for sale in Land Park and Curtis Park. Hello buyer's market.

And look at that downward arrow for price ratios. At 84% for January, it means that, on average, sellers had to reduce their original sales prices by 16% to sell. Many of the homes that closed in January, though, went into escrow in December. I've always said that December is the absolutely best month to buy a home in Land Park.

If you're interested in more information about the real estate market in Land Park or Curtis Park, call your Land Park Real Estate Specialist Elizabeth Weintraub at 916.233.6759. I'd love to show you homes in Land Park. And maybe you can help me figure out where the stupid key goes in my husband's Prius.

land park real estate agent elizabeth weintraub

The Short Sale Savior, by Elizabeth Weintraub, coming June 2009.

Charts: TRENDGRAPHIX, available exclusively to Lyon Real Estate agents.

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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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Rainmaker
473,414
Colleen Fischesser Northwest Property Shop
RE/MAX Advantage | Managing Broker - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!

Stats provide a very clear picture of what's going on in any market. I wish more agents would utilize them in order to help educate their clients.

Feb 27, 2009 02:17 AM #1
Rainer
25,179
Glenn Shong
Re/Max Realty Center - Oconomowoc, WI

Elizabeth

Stats are great, and Tommy said you are the source for Real Estate in Sacramento. He is doing better, and slowly bouncing back. Tom also said you are one of the most charming people he has ever met, and he says you are his mentor.

Glenn  Shong

Feb 27, 2009 03:11 AM #2
Rainmaker
1,924,738
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Hi Elizabeth

Hoping all is well. Working like crazy and on to the next

Tom Braatz

Feb 27, 2009 05:18 AM #3
Ambassador
1,723,125
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Wow, that sounds more like South Bronx.

Since 2004 we live in Ponce Inlet in a 760+ condo/townhome development. Yes, it is gated, but it is for people like us, who would go to the gate. You can get to The Links from any place around it, just cross the golf course.

We have not closed our entrance door at night. The only time it is closed is when we have guest from paranid Russia (they would not be able to sleep with an open door), and my frineds from New York.

I guess this is the beaty of living in smaller places.

Feb 27, 2009 08:44 AM #4
Rainmaker
2,189,919
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hi Colleen: I love the fact that I have access to Trendgraphix reports. In Northern California, only Lyon agents have get Trendgraphix. They are comprehensive, and I can drill down any neighborhood with them.

Hi Glenn: Aw shucks, you're making me blush. I'm happy to hear that Tom is recovering.

Hi Tom: Hey, there you are!!! Hiya -- glad to see you back to work and kicking butt.

Hi Jon: Your Russian guests are paranoid? I'd think things would be pretty relaxed in Florida.

land park real estate agent

Feb 27, 2009 10:26 AM #5
Ambassador
2,869,808
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Hey my hybrid toyota has to have a key... I'm jealous.

Great looking stats presentation.  And what I would give to only have 5.9 months of inventory on Lake Sinclair.  We have about 24 months.  Real buyers market.

Feb 27, 2009 11:11 AM #6
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

I have heard that the East and West coasts are starting to recover and we might be next. The snow is gone here looking forward to more activity .

Feb 27, 2009 11:26 AM #7
Rainmaker
2,559,196
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Elizabeth - I had no idea you didn't need a key to start a Prius.  So if you don't have a key, and you need to start one, how do you? 

Feb 27, 2009 12:29 PM #8
Ambassador
1,723,125
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Elizabeth,

Some of them sleep with a shotgun and drive with AK in the car when they are home in Russia. They need the door to get that extra second to grab the gun.

Businessis a serious thing there...

Feb 27, 2009 02:15 PM #9
Rainmaker
2,189,919
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hi Myrl: The Prius starts (and unlocks the door) because it recognizes you. You simply push the "start" button to turn it on. It recognizes you because you must have the key on your person somewhere. My husband is forever running out the door without a key in his pocket.

land park real estate agent

Feb 28, 2009 02:00 AM #10
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Rainmaker
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