The February 2020 Sacramento Area Housing Report, everyone is talking about it. Wall Street is in meltdown, toilet paper doesn’t exist at Costco and my friend just in a panic bought three firearms. Whoa! The majority of us are handling this current COVID-19 virus pretty well. Others, are of course being impacted on a variety of levels. There will always be different ranges of reactions. When isolated, it is often challenging to know the reality of the housing market. This blog serves to be a source of information. So let’s talk about interest rates. Yes, they spiked up slightly (still under 4%) a week after they dropped to a record low 3.13%. This is in part to a backlog of loan applications (up 55%) that lenders cannot keep up with.
The time change fall-back in Sacramento 2019 started like any other day. I got up and made my coffee. I grabbed two dog bones and went outside to put my German Shepherds out in their play yard for the day. Daylight saving time ended today, Sunday, November 3, at 2:00 a.m. We gained an hour of sleep, which is always welcome. Sleep is a time for recharging our batteries and who doesn’t need that?
I woke up so early and thought well might as well get an early start. My smartphone had the correct time, of course, so I never gave it a thought. When I sat down at my computer to begin my day, I looked up and my wall clock, it was showing an hour later. Ah, I thought better to set that clock back now, or I’ll be showing up an hour early for appointments.
Is October the time to sell Sacramento homes? It is good weather, and historically a good time as there is less competition and buyers are out looking before the holidays. So is October the time to sell Sacramento homes? Yes, it sure is for Sacramento. We have six offers on one listing and two offers on another. Many of our other listings are having solid showings.
Home sales happen year-round on desireable, affordable and high demand properties. To sell your property call Weintraub & Wallace Realtors with RE/MAX Gold in Sacramento and Elk Grove. We work in several counties so call us today at 916-233-6759.
The September 2019 Sacramento homes for sale, sold and pended graph above shows some trends to keep in mind this fall. The pendings are higher than they have been all year. Inventory has stayed close over the last six months. Closings were a little down, but that could be longer duration escrows. The September closed sales numbers will answer if this is relevant.
Inventory is significantly lower than a year ago. There does not seem to be an impression that pricing is going down in Sacramento as demand is high and inventory is down. Buyers write your highest and best offer, or you may not be in a home this fall. September 2019 Sacramento homes for sale, sold and pended shows a continuing seller’s market. Pendings show trending up for the last 90 days.
Should buyers inspect septic tanks? When making a home purchase, many rural areas do not have public sewer service. In these cases, a septic tank is used, and it is buried under the ground usually down a foot or two. These tanks are recommended to be pumped out 3-5 years, depending on with whom you speak. The more people, the more flushes, the more laundry, the more showers. If you start having a back up, call your septic service quick.
During a buyer’s inspection period, buyers are afforded an opportunity to inspect the septic system. There are many types of systems such as an engineered dosing systems, and most often in Sacramento County you will see leech lines running from the septic.