The Sacramento Region is going to be really hot soon…!

There’s so much going here and around us.

All you to do is read some of the business sections of various newspapers and trade magazines to know, there’s a lot of money out there looking for a home.

PandoraCase in point…?

I just got this article out of Bisnow.com and thought I’d share it because it just goes to illustrate what is happening in the San Francisco Bay Area which means there will be a “ripple” effect here in our area.

If you read the local media here you already know about the new Downtown Arena for the Sacramento Kings and developments around it.

Here’s an article in the Sacramento Bee from a couple of days ago about a Folsom venture capital firm and some of the successes here.

So if you are thinking of buying a home in Folsom, El Dorado Hills or other areas in the Sacramento Region, you just might want to get out there soon, before the prices start going up a little faster.  Business is picking here and elsewhere.

To make my point some more about Folsom….?  Here’s a typical article from just one other real estate agent here in town.  I could find more comments like this but I think you get the idea.

That’s my opinion.

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE    916-203-1260    favinger@rwnetwork.com

 

Folsom Sales Figures – Still Holding Steady…!

Costs Per Sq. Ft & Days on Market haven’t changed much.

I know people are interested in figures and graphs so I thought I’d put this update here. I have a couple of graphs here the one directly below shows the List Price/Sales Price Ratio and the Average “Days on Market”.   It clearly shows that the market has remained pretty steady with a notable big pick up last June and a bit of a slow down after, which has remained largely the same since. It will be interesting to see what happens the rest of the year now that rates are down some. Days on Market & List Price Sales Price Ratio This graph below shows the average “costs per sq. ft.”  has also remained pretty steady.   While there’s been a little swing up or down, nothing major.   TGChartImage (4) - Copy

Are you curious what your home might be worth and would like a quick answer to a “ball park” number…?  Get a glance and see what you might get by CLICKING HERE.

 

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE     916-203-1260   favinger@rwnetwork.com

Do You Want To Know The Reason I am Bullish On Folsom and Sacramento Real Estate..?

It’s All About “Affordability”…!

 

I want to pass on the numbers of the recent report provided by the California Association of Realtors regarding the 2nd quarter “affordability index”.affordabilty index

Click Here for the 1st Time Buyer’s Affordability index data and you’ll see we have a healthy market and that should be around for a while yet.   The reason I’m confident of about the future market is the history of this index to the market.

When I moved to Folsom from Santa Clara County (Silicon Valley) back in October of 1989, the Affordabilty Index was a lot different.    If you look below here you’ll see the Traditional Affordability Index back then.  This index is based upon a buyer with a 20% down payment for the “median priced” home.

Area/Region 1989

California      23%

Sacramento  40%

Santa Clara   19%

As you can see above,  when I moved to Folsom 40% of the folks living here at the time could afford to buy the median priced home, compared to only 19% in Santa Clara County.    The point of all this…?  There was a bust in Real Estate shortly after in late 1990 and 1991 that lasted a couple of years.   The same thing occurred in late 2005 and early 2006 when we saw the Affordability Index drop big time because of price appreciation.

Today, you’ll note,  from the 1st time buyer’s index above, affordability is really not a problem right now is it…?  Therefore, you’d think with all things being equal,  we’ll have a decent real estate market for a while before we have some kind of correction.

Things could change of course, interest rates going up or other economic factors out of our control, but overall…?   I think we’re in for a couple of good years.

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE        916-203-1260      favinger@rwnetwork.com

 

 

Another Article about Folsom…And Some Recent Sales Stats Too…

From the Sacramento Bee – Real Estate Section – August 2, 2014

I thought I’d pass this on in case you don’t get the Sacramento Bee.   As a 25 year resident of Folsom, I can tell you that this is old news but it’s nice to read about your town.    Take a look at the article below.

Schools get high marks from residents

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Below is some recent Sales Data that I think you might find interesting.

Folsom Real Estate Sales Data

Average Listing Price (last 12 months)

AVERAGE LIST PRICE IN JULY

Single Family Homes    $517,478       Condos/Townhomes    $250,659     Multi­family  Homes   $694,667

____________________________________

Folsom Real Estate Sales Data

Days on Market (last 12 months)

CURRENT AVERAGE DAYS ON MARKET IN MAY

Single Family Homes  –  90,   Condos/Townhomes – 92,      Multi-family Homes –  86

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE    916-203-1260   favinger@rwnetwork.com

Latest Folsom Real Estate Statistics – 2nd Quarter 2014…!!!

 Some interesting numbers here…

I thought I’d post the information from Trengraphix Inc. for your review.  From what I can see here,  it looks like anything over about $500,000 is taking a little longer to sell.

This information is for Single Family Homes only.

The graph below shows the Average Price Per Sq. Ft.,  which looks like it’s holding steady now north of $200 per sq. ft.

TGChartImage

 

The Graph Below shows the “for sale” and “solds”… You’ll notice the Closed Sales are below that $500, 000 threshold.

TGChartImage (3)

The following graph shows the “Average Days On Market” and the List Price/Sales Price Ratio.  

TGChartImage (2)

 

If you want more information about the market you can always send me a note at favinger@rwnetwork.com.

In the Mean Time…?

Make it a Great Day..!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE         916-203-1260     favinger@rwnetwork.com