What is going on in the East Sacramento Housing Market?
Good question! We represent many sellers and buyers in East Sacramento and both have one thing in common. It is a challenging market. My sellers have the challenge of a declining market place saturated with picky buyers who think they are buying a new home... My buyers have the challenge of limited inventory and sellers that still think their house is worth 400 a sq. ft. Who is right and who is wrong? Good question! I don't believe that it is a matter of right and wrong, I think that it is a matter of logical thinking and doing the appropriate research to make a good decision. When working with both buyers and sellers we make it clear to both parties that there needs to be a market analysis (within the last couple of months directly around the property) to determine what price to list the home or what price to offer on the home. SOLD comps are what count people!!! The active sale down the street for 200 days is not a comp. (It is a sign of what not to do!) We use a direct map search; which enables you to literally draw a map around the property and then add criteria (Bedrooms, baths, sq.ft., ect.) If you know East Sacramento, you know that it makes a difference if you are South of Folsom Blvd. versus North or being East of 59th Street instead of West. I call this a niche market. Although statistics are helpful and it is nice to know the "average price per sq. f.t" I know that none of that matters in a neighborhood like East Sacramento. Why??...because most of the homes are different and unique in their own way. This character is what makes East Sacramento one of the most desirable places in Sacramento. This character also makes the process of valueing a home more challenging than a cookie cutter community like Natomas. I'm not hating on Natomas there are some great deals to be had there too....but we will not get into that as it would be a whole other blog post. Tips and Stats below! Sorry for the enormous run on sentences I didn't have time for Dr. Jo (My mom) the english doctor to edit.
Tom's Tip to East Sacramento Buyer:
Try to look for the big ticket items (Roof, electrical, plumbing, central HVAC, condition of exterior, pest report) as you can save yourself a lot of money and headache by making sure these items are in good condition and have been recently updated. When buying a home consider the size and space seriously and make the decision based on where you plan to be in your life in ten years NOT two years. Let's face it no one knows where our economy will be tomorrow let alone in a year from now! Be conservative and take your time in making the decision to buy a home as it is a large purchase. Now let's go find you that dream home!
Tom's Tip to East Sacramento Sellers:
When listing your home first call me...jk Actually...yes call me, but also try to put yourself in the car with the buyer. If you were in the market in East Sacramento in a tough economy with little to no consumer confidence what would you want? Everything??? I know and that is true....it sucks,but that is what most buyers now want. Evaluate how your home would be appealing to a buyer and make them want to write an offer on your home versus someone elses. Price your home right and have it ready to show and the buyers will come. It is important to price it right, but to as im be firm with that price...We are not desperate! Check out some of my testimonials on Yelp from recent sellers in East Sacramento! Work with a broker who will sell your home and shoot you straight!
Good question! We represent many sellers and buyers in East Sacramento and both have one thing in common. It is a challenging market. My sellers have the challenge of a declining market place saturated with picky buyers who think they are buying a new home... My buyers have the challenge of limited inventory and sellers that still think their house is worth 400 a sq. ft. Who is right and who is wrong? Good question! I don't believe that it is a matter of right and wrong, I think that it is a matter of logical thinking and doing the appropriate research to make a good decision. When working with both buyers and sellers we make it clear to both parties that there needs to be a market analysis (within the last couple of months directly around the property) to determine what price to list the home or what price to offer on the home. SOLD comps are what count people!!! The active sale down the street for 200 days is not a comp. (It is a sign of what not to do!) We use a direct map search; which enables you to literally draw a map around the property and then add criteria (Bedrooms, baths, sq.ft., ect.) If you know East Sacramento, you know that it makes a difference if you are South of Folsom Blvd. versus North or being East of 59th Street instead of West. I call this a niche market. Although statistics are helpful and it is nice to know the "average price per sq. f.t" I know that none of that matters in a neighborhood like East Sacramento. Why??...because most of the homes are different and unique in their own way. This character is what makes East Sacramento one of the most desirable places in Sacramento. This character also makes the process of valueing a home more challenging than a cookie cutter community like Natomas. I'm not hating on Natomas there are some great deals to be had there too....but we will not get into that as it would be a whole other blog post. Tips and Stats below! Sorry for the enormous run on sentences I didn't have time for Dr. Jo (My mom) the english doctor to edit.
Tom's Tip to East Sacramento Buyer:
Try to look for the big ticket items (Roof, electrical, plumbing, central HVAC, condition of exterior, pest report) as you can save yourself a lot of money and headache by making sure these items are in good condition and have been recently updated. When buying a home consider the size and space seriously and make the decision based on where you plan to be in your life in ten years NOT two years. Let's face it no one knows where our economy will be tomorrow let alone in a year from now! Be conservative and take your time in making the decision to buy a home as it is a large purchase. Now let's go find you that dream home!
Tom's Tip to East Sacramento Sellers:
When listing your home first call me...jk Actually...yes call me, but also try to put yourself in the car with the buyer. If you were in the market in East Sacramento in a tough economy with little to no consumer confidence what would you want? Everything??? I know and that is true....it sucks,but that is what most buyers now want. Evaluate how your home would be appealing to a buyer and make them want to write an offer on your home versus someone elses. Price your home right and have it ready to show and the buyers will come. It is important to price it right, but to as im be firm with that price...We are not desperate! Check out some of my testimonials on Yelp from recent sellers in East Sacramento! Work with a broker who will sell your home and shoot you straight!
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