In recent months I have been saying that Sacramento is stabilizing...we are done with about 80% of our foreclosures, our sales have doubled since last year at this time and it appears that the decline in market values is creeping rather than racing down the speedway.
On April 28th, an article came out on the Wall Street Journal with the headline "First Housing Markets to Heal? Analyst Bets on Sacramento, Washington". Whoohoo! The analyst is John Burns. According to Mr. Burns, the fact that Sacramento's new home supply has shrunk more than other markets he tracks, along with very affordable housing and the ability to get loans improving is evidence that Sacramento has early recovery potential. He cites that employment could be a deterrent in this recovery. Personally, I am going to continue to believe that we are on our way!
Washington DC is also poised for an early recovery. While jobs are not the issue that Sacramento has, he felt that the housing market might fall an additional 5%-10%.
There are a few cities he cited as taking the longest to recover, but I want this post to be positive, so I am going to leave it here...life is getting better by the day!
It was a beautiful morning (albeit early for a weekend) at 8AM. There were more trucks parked on the
street than for a rodeo. The activity around the "chosen" house would put a beehive to shame. The Sacramento Association of Realtors, along with other wonderful volunteers had committed themselves to giving back to their community by helping a homeowner in need. Rebuilding Together had given us this opportunity to give back...and there were a lot that were happy to be there.
It was hard to believe that we would actually use all of the tools that were spread out like a picnic on the front yard grass. The talented and knowledgeable brought their manly power tools. Volunteers such as ourselves were relegated to the more harmless paint brushes and rollers...after all, it would take a lot to hurt ourselves or others with these!
In our morning shift, I saw a water heater being carried out of the house, a new shower surround being carried in, windows being completely replaced, fences being mended, dry rot being removed and good wood being installed...and of course there were 7 gallons of exterior paint with 3 gallons of trim that we were charged with. The house was completely painted inside and outside, including the driveway and 3 covered porches.
The best part? Maybe it was the homeowner, who sat in her front yard in total awe of the amount of tasks being accomplished in one day. Maybe it was the number of really talented artisans who put their specialties to good stead for this nice lady. For me, it was the camaraderie of fellow Realtors and Sacramento Association of Realtors staff that made me proud to be in our industry. I was proud to be a part of it!
My camera batteries died, so I couldn't take a picture...however this one in Texas looked about the same, so I borrowed it from Flickr by wordjunky.
It was an interesting night. It was also an impressive night. At the front of the room at Eskaton in Land
Park sat 19 candidates hoping to be elected into the Land Park Community Association board. They represented every demographic in the neighborhood. One gentleman was raised in Land Park. Another was raising his young family in the area. We had proffesionals knowledgeable about land use, events coordination, politics, construction, architecture and urban planning, business management and so much more. It is a wonderful slate of candidates and we should be proud to vote in any 14 of them.
There was a common theme...to promote and support the very best that Land Park has to offer. There are plenty of challenges...the ongoing discussion regarding a bridge over the Sacramento River connecting West Sacramento to Sacramento at Broadway, traffic and all of the issues that it brings, commercial revitalization, and cuts to William Land Parks budget, to name just a few.
The rest of the room was filled with those who care and are concerned about the future of Land Park. They sat attentively as each candidate had 3 minutes to share with the attendees their agendas and qualifications.
One complaint was that there wasn't enough specific information on how each candidate stood on important issues...and it was a valid point. Hopefully next year that opportunity will be given.
Finally, it was a night we should all be proud of...it is a new beginning!
I was chatting with my favorite (and personal) home insurance representative. I asked him how busy he was staying. His response intrigued me. He said, contrary to his company's opinion of the market, he was busy. He had just returned from a company wide meeting. The theme seemed to be how to get through this slow-down in the business. He said that they had totally bought into the media hype without realizing one major factor...insurance, just like real estate is local. In our region, sales have doubled from last year. Even though home values have gone down, the number of home owners needing home insurance was better than it had been in a very long time. He was having a robust year...with no end in sight! The lesson is...don't buy into the hype, because it is usually national news. Listen and pay attention to the local industry, because that is where your business is!
I know...you are thinking that Land Park residents have heard this rumor before. That was my first
reaction. This is just the same old rumor being reborn...except maybe not!
Land Park has longed for a Trader Joe's ever since the first time we heard of the possibility of it becoming a Land Park neighbor. It isn't that we don't have some great stores in the neighborhood. Raley's has been here for 30+ years. I have already told you about Taylor's Market. A Trader Joe's would round out our choices nicely with it's off-branding and continual offerings of well priced goods.
It would replace the now rarely used Prime Market on the corner of Land Park Drive and Sutterville Road. It would certainly be a turn-around for this shopping site. Land Park Pharmacy closing it's doors was a tragic loss. Thankfully, a pharmacy is coming back along with a few new offerings. It is my hope, and I am sure the neighborhoods as well, that along with Trader Joe's will be an improvement to the shopping center's appearance.
So, is it coming to Land Park? Well, I have heard this from people who I respect and who should be "in the know" more than most anyone I know. Let's all keep our fingers crossed!
Photo from Flickr by voxefx
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