When will the Sacramento Area Real Estate Market turn around???

That seems to be the question on everyone's mind...and for good reason, our economy is riding on the answer. And although I don't have a crystal ball I do know that the Elk Grove, Roseville, Auburn, Loomis, Rocklin CA area is up 81% over 2007 in term's of units sold. Our inventory is shrinking, we have roughly a 3.5 months supply down from over 13 months a year ago, and interest rates are the lowest they've been in decades. Most agents I talk to are frustrated because they have qualified buyers who can't get a house due to bidding wars.

REO's and Short Sales are getting multiple offers within days of hitting the market and it seams like only those with cash...or luck on their side are walking away with an acceptance. There is serious talk about another $850 Billion Stimulus Package and plans to create millions of jobs with that money. Our area has applied for billions of dollars worth of financial aid and will most likely get it. Banks, credit unions and insurance companies have all been gifted huge amounts of money and are working harder than ever (about time) to help home owners stay in their houses. These are just a few factors that will help determine when our local Placer County/ Sacramento County real estate markets will rebound, but they are very positive indicators that we are close (or there) and that a great deal of change has taken place over the last 6 months with more to come.

Thanks,

Realtor Mike Rothery

RotheryHomeTeam

(916) 367-8186

Keller Williams Realty; Elk Grove, Roseville, Sacrament, Rocklin California