Sacramento Real Estate and the Election
Sacramento real estate and the election are always are high on the list in people’s minds during the fall of an election year. Some people say they will hold out on making a buying or selling decision as they feel the market prices could fall dramatically, depending on who is chosen as the President.
There will always be a high demand for a place to live in the USA. In the greater Sacramento Valley of California, our current real estate environment has not had enough home inventory for years. New homes are the only way to add inventory, and they are slowed down due to covid.
Fires and Buyers
Manufacturing is down, and fires have destroyed a lumber mill in Oregon. Where do all the homeowners go who lost homes in the Bay area fires? Well, with Covid, many can now work from home, so they need no longer live in the bay. They can take the insurance money and buy in our northern California 6 county area of Sacramento, San Joaquin, Yolo, Placer, El Dorado, and Nevada counties.
Building Homes & Interest Rates
It is currently challenging to obtain building materials. Contractors are reporting a concrete shortage. Wood is behind on many orders. Experienced construction workers are high in demand and hard to find. The interest rates are at historically record lows. What does all this mean? This Realtor predicts an ongoing high demand for Realestate in the median and entry-level price points. Entry-level and median level home sales to $799k are flying off the shelves. Jumbo loans are now available but not as EZ to qualify, so talk with your lender. Our preferred lender Dan Tharp with Guild mortgage as many videos on loans and price points. Call him for advice in the previous link.
White Elephant Trophy Homes
The upper-end price points depending on the high demand areas and amenities are also selling. Those “White Elephant Trophy Homes” are not flying off the shelves in record-breaking numbers, but that’s another blog; stay tuned for it in the next few weeks. A seller’s market does not apply to every home; keep that in mind.
People still need a place to call home regardless of who sits in the Whitehouse. With over four decades of experience within our Real Estate team, we have observed very little change to overall real estate in the past elections. Yes, absolutely no matter what side of the fence you are on, get out there and vote and buy real estate. There are several essential items on the ballot, and interest rates have never been better. Call Weintraub and Wallace Realtors with RE/MAX Gold to navigate your home sale or purchase. We can be reached at 916-233-6759.
— JaCi Wallace