RE/MAX Gold: Sacramento Real Estate

RE/MAX Gold: Sacramento Real Estate

Good News for Sacramento Real Estate:

• The US economy grew at 3.5% in the third quarter of 2009. This is the best United States economic performance in over 2 years.
• Interest rates are low thanks to taxpayer funded bailouts and the Federal Reserve Bank’s injection of liquidity into the US banking system that staved off a banking collapse in 2009.
• 2010 is expected to have another Federal Tax Incentive program of $6500 for first time buyers which may extend to move-up buyers of Sacramento Real Estate. This will stir buyers to action in 2010 as it did in 2009.
• While unemployment above 12% and partial employment plague the Sacramento Real Estate scene we are blessed with something that we did not have last year at this time: low Sacramento Real Estate inventory.
• While the median home price for Sacramento Real Estate stands at $176,000 for the county an overall slight price appreciation has begun to show up in Folsom and other upscale areas of the county.
• Short sales and loan modifications are more dominate in the Sacramento Real Estate market now than foreclosures which destroyed property values for whole neighborhoods in 2007 and 2008.
• Listings are selling quickly for both short sales and regular homes with sellers who listen to their agents and price their Sacramento Real Estate to sell in this competitive market.
• Sacramento Real Estate priced below $200,000 often has 10 or more offers as first time buyers compete for the same property and tax incentives.
• Many of the foreclosures that would have plagued the Sacramento Real Estate market in 2009 were sold on the courthouse steps to investors who either fixed them up to flip for first-time buyers or turned them rentals.
• FHA, the Federal Government’s lender of last resort since the 1990's, has stepped up to the plate to providing 3% down payment loans for homes up to $430,000 in price. FHA has filled the breach left by those banks with risky Wall Street schemes, now long gone from the Sacramento Real Estate market.
• The Sacramento Real Estate market has a solid underpinning of income in the State of California as Sacramento's major employer. State employees have kept the Sacramento's economy afloat in travails of the past such as the Great Depression. For example, the Great Depression was not as destructive to the Sacramento region as it was to other US regions because the state’s workforce remained gainfully employed, attempting to solve the problems of 1930's California.

While the risks to our recovery in the Sacramento Real Estate market are well cataloged in the Sacramento Bee on an almost daily basis, we in the industry and consumers need to take a giant step back from fear. Yes, our market and the economy could still collapse in many different ways. Yes, inflation due to government spending could overtake us. No, I am not saying that Sacramento Real Estate is out of the woods. This is not the end of bad times and faltering employment . It may however be the beginning of the end - a sort of turning point where we begin the long march back. Every recession has a recovery and I hope that this is the beginning of ours.

For Assistance in buying or selling Sacramento Real Estate please call me. I have access to affordable loan modifications and short sale experience, certification, and training. I have been a fulltime agent since 1992 and know the Sacramento Real Estate Market well.

Loren Ransier

DRE 01132890

lransier@remax.net

916 439-3588

Website www.sacramento.me

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