Folsom, CA

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.

In comparison to last week the average price per square foot for Folsom homes, increased by less then 1% and the median sales price decreased by less then 1%. There are 299 Folsom homes that are pending sales representing 28.47% of the available inventory. The time to sell Folsom homes is currently 81 days.

If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653.

For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com

Jeff Hoffman
HoffmanRealty Group Inc.
(916) 983-7653
http://www.hoffmanrealtygroup.com
email:jeff@hoffmanrealtgroup.com

According to the sales rep at Elliott Homes this has accounted for the majority of sales in their Chelsea subdivision for March and April. Folsom doesn't have much left in the way of new home builder's since Elliott purchased the last of the remaining land in Empire Ranch. Originally Empire Ranch consisted of about a dozen different builders offering a variety of homes styles. What is left are a couple of condo developers and some custom lots in the Hillcrest subdivision.

Beth Mergens Http://www.FolsomLakeHomes.com

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.

In comparison to last week, the median sales price, and average price per square foot for Folsom homes, decreased by approximately 1.5%. There are 166 Folsom homes that are pending sales representing 35.62% of the available inventory. The time to sell Folsom homes is currently 85 days.

Mortgage rates reach a 7 month high. Interest climbed to 5.06% from 4.79% for 15-year fixed loan. 5-year adjustable rate mortgages climbed to 5.17% from 4.85%.

If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653.

For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com

Jeff Hoffman
HoffmanRealty Group Inc.
(916) 983-7653
http://www.hoffmanrealtygroup.com
email:jeff@hoffmanrealtgroup.com

FOLSOM, CA REO (BANK OWNED) SALES DATA FOR MAY 2009

This is a continuation of my monthly report on Bank Owned home sales data for Folsom, CA. This report covers REO homes sold in May of 2009.

There were fourteen REO homes sold in May, down from the eighteen in April. The average days-on-market dropped from 63 in April to 42 in May, so REO homes sold more quickly. In May there was only one REO home that had been on the market for over 100 days. There are usually many more. Also, 28.6% of the REO homes sold in fourteen days or less, indicating that well priced homes sell quickly.

The fourteen homes sold represent only 24.6% of all homes sold in Folsom in May, down from 30.5% in April and 50.0% in March.

The cost per square foot in May INCREASED to $ 172, up from $ 168 in April. However the average cost per square foot of all homes sold in May remained $ 184. That is two months in a row. Could we be at the bottom of the market in Folsom? This equates to a 6.5% savings for those who purchased an REO home in May. The savings in April was 8.7%.

The overall sales price for REO homes was 97.4% of the final asking price. This data proves once again that an expectation of buying a Bank Owned home for fifty cents on the dollar remains a pipe dream. Unfortunately, some self-proclaimed experts may still be preaching about 50% savings to the gullible. The actual, measurable savings is the difference in cost per square foot between REO homes sold and the cost per square foot of all home sold: in May, $12 per square foot. That is a $ 30,000 savings on a 2500 square foot home, not a small sum.

Specific data follows:

Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.

In comparison to last week, the median sales price and average price per square foot remained unchanged. There are 113 Folsom homes that are pending sales representing 27.63% of the available inventory. The time to sell Folsom homes is currently 90 days.

If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653.

For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com

Jeff Hoffman
HoffmanRealty Group Inc.
(916) 983-7653
http://www.hoffmanrealtygroup.com
email:jeff@hoffmanrealtgroup.com