game of thrones
A good way to start my blog today could be with a comparison reminiscent of that old TV show The Naked City, to talk about there being 10,000 stories about real estate sales in Land Park, Sacramento, but we don’t have enough inventory anywhere in town to make a statement like that. In fact, probably the last time the entire Sacramento County region saw 10,000 homes for sale on the market was 10 years ago. Are you ready for the astonishing news today?
Today, this very moment, in the entire county of Sacramento, we have only 2,280 single family homes for sale in our multiple listing service. But wait, there is more. Guess how many single family homes are in some sort of pending status? You know I have the answer. It’s 2,791 homes. We have more homes in pending status than we have homes for sale, which means we can’t repeat this scenario next month because there is not enough inventory at the moment to satisfy demand! The pending sale line has risen above the number of homes for sale. We have a real estate drought in Sacramento real estate. It’s not just the water shortage we’re worried about, although granted we could die without water. Real estate, not so much.
“When my home is worth a gazillion dollars, call me.” That’s what a former client expressed this morning. It put a smile on my face, and it was a good thing to wake up to find in my email. It makes me realize that as a Sacramento real estate agent, I need to keep in the back of my mind that we are all a sum of our total experiences. Most sellers do not really know anything about real estate or how it works — even though they might think they do — because they are not in the real estate business and / or they didn’t focus on economics much less real estate in college.