While others are thinking about Thanksgiving Week and Sacramento real estate, I am more focused on December 3rd. Well, of course, there is an open house today for a new listing in North Highlands. But my sellers also had a bunch of showings yesterday, that was very heavy activity for a Saturday with home buyers. Everybody is trying to squeeze in those last few minutes before Thanksgiving Week. Making them as productive as ever.
Yes, Thanksgiving Week. It’s no longer just a day that our ancestors began celebrating as we do today about 100 years before I was born. Which wasn’t all that long ago put that way. Nope, it has mushroomed into an entire week.
As luck will have it, this Foothill Farms home that just closed escrow, well, I’ll likely field calls about this house for months. That’s because buyers find these listings all over the internet. They can’t tell if the house has closed or is pending or what’s going on. So, they call me. Since I happen to work in real estate, I generally refer the buyers to my team members. Our Elizabeth Weintraub team members, highly trained exclusive buyer’s agents, can provide professional guidance. But, sorry, you can no longer buy this Foothill Farms home.
Do not miss out on viewing this perfect little starter home in North Highlands. Do you want affordability? How about pricing right on the nose? You know how many buyers would like to buy a home and they say they can’t find a nice house to buy in their price range? Well, that’s primarily because due to the abundance of crappy homes for sale in a super affordable price range. So many of lower priced homes need work and they won’t pass inspections for an FHA loan. Our seller purchased this home with an FHA loan 2 years ago, so you know it passed those rigid inspections.
For some reason, it has been drummed into the heads of Sacramento home buyers that it should not be OK to pay list price for a home. Which is the silliest thing I’ve ever heard, and yet I hear it a lot. I heard it back in the 1970s when I started selling real estate. My mentor at that time taught me that owning real estate is the most important thing. Even if I pay list price, it’s OK. There is nothing wrong with paying what a home is worth. Yet, we always want to get a deal . . . when the truth is there are no deals if you don’t buy the home.
The Sacramento real estate market report October 2017 shows inventory declining and new listings falling but with a twist. Last month, pending sales spiked, despite the lower level of homes to buy. Like flying into Sacramento airport, we are beginning our seasonal descent. Is this a good time to buy, you might ask? Darn tootin’ it is. Because prices are not falling. Homes prices are rising. Our median sales price in Sacramento County is now $350K.
All across the board, pending sales are up. Below are the pending statistics for the Sacramento real estate market report October 2017 from Trendgraphix.