Email ElizabethWonder if Median Prices of Sacramento Homes Have Recovered from 2006?
Are you wondering whether median prices of Sacramento homes have recovered from 2006? If you’ve been watching the housing market in Sacramento for any period of time lately, you’re probably blown away by rising prices. You can’t spin around without finding limited inventory, multiple offers and getting priced out of the market. In fact, many buyers probably wonder just how high can prices go?
Are we back to where started in 2006, at the height of the real estate market? Does this mean the median prices of Sacramento homes have recovered from 2006 to 2018? We’re very close, but the fact is we are not there yet. You might think we’re out of the woods by all of the sales activity and pent-up demand for homes, but the statistics from Zillow tell a different story.
Of interest, there are four communities, upper-end, more affluent areas, which have moved past the median sales prices from 2006. Those areas are El Dorado Hills, Granite Bay, Folsom and the city of Davis. The bounce back rate for Davis is 115%, meaning median prices have surpassed 2006 by 15%.
The chart below shows the percentage of 2006 values that each neighborhood or city has reached in June of 2018. This data was extracted from the Sacramento Bee story and not verified as sourcing from Zillow.
If you’d like to know whether median prices of Sacramento homes have recovered from 2006 to 2018, the percentages below might astonish. As always, feel free to call your Sacramento Realtor, Elizabeth Weintraub, 916.233.6759, for more information.
City and Percentage of 2006 Median Prices to 2018
Florin 84%
Woodland 90%
Rio Linda 89%
South Lake Tahoe 93%
Auburn 93%
Galt 92%
Rancho Cordova 92%
Placerville 93%
Elk Grove 94%
Sacramento 93%
West Sacramento 96%
Citrus Heights 95%
Rosemont 95%
Carmichael 97%
Fair Oaks 97%
Roseville 97%
Rocklin 99%
Arden-Arcade 99%
Orangevale 99%
Lincoln 100%
Shingle Springs 100%
El Dorado Hills 101%
Granite Bay 101%
Folsom 105%
Davis 115%
Where are the Property Lines for Homes in Sacramento?
A buyer’s agent asked this Sacramento Realtor the million-dollar question yesterday. She wanted to know where are the property lines for a home in Sacramento. Yes, just go ahead and ask your seller, the agent requested. Well, I will advise the seller not to answer that kind of question. Even if he thinks he knows the answer to where are the property lines, he should not discuss it. Because he could be wrong. Little puts a person more at risk than being absolutely certain where the property lines are located.
Besides, there are tools available and better ways to answer where are the property lines. In the early 1970s, I worked for a few years as a title searcher at First American Title. That meant I was responsible for piecing together a chain of title from the U.S. Patent forward. Some of that information was already updated on punch cards, but we didn’t have computers. If we didn’t have a punch card, then it meant a trip to the county courthouse. Which involved Grantor and Grantee books. Manual entries from pens dipped into an ink well.
Anybody can draw out property lines from property descriptions. It’s not rocket science. Simply use a protractor and a ruler. It helps to read this piece about legal descriptions, which I also wrote.
To answer the agent’s question about where are the property lines in Sacramento, I emailed her the preliminary title report. In the prelim is the metes and bounds description. The thing to remember is there is always a POB, the point of beginning. You begin at the POB and end at the POB. If you can follow directions, you can do it.
Another solution is to walk the property itself and look for a “pin” which is a marker in the ground at the corners. A pin is more likely to be discovered for a much older home than a newer property.
An easy solution for those who really do not care one way or the other about an extra foot here or there is to ask your neighbor. Just agree on a property line. Bear in mind that there is no guarantee with this solution that the neighbor won’t sell to an individual who disagrees with your agreed-upon assessment.
The very best way to settle where are the property lines for homes in Sacramento is to hire a surveyor. That expense can set a person back $500 to $1,000 or more. Which is why nobody really knows where the property lines are located.
Weekend Getaway to San Jose from Sacramento
If you’re looking for a weekend getaway to San Jose from Sacramento, there are reasons you may enjoy the travel to San Jose over San Francisco. For starters, there is no I-80 traffic to fight. A drive to San Francisco can take 90 minutes or 5 hours; you just don’t know. When returning from Europe once, when all we wanted to do was slink into the limo and sleep, it indeed took us 5 hours to get home from the airport. Early afternoon on Thursday, too.
We elected to drive from Sacramento for our weekend getaway to San Jose because it is less time and easier than taking the Amtrak Capitol Corridor train. Straight down I-5 to I-580.
This particular weekend was the San Jose Jazz Festival, which we did not attend. It kept the downtown area vibrant into the evening, though. You can see the hot dog vendors above, and there were plenty of these setups along the street.
Behind the hot dog guys is the Grill on the Alley, part of The Fairmont, where we had dinner. I could not find the type of fine dining we can get in Sacramento in the downtown area of San Jose. Perhaps it’s because downtown restaurants cater more to convention attendees? I dunno. The Grill on the Alley was maybe 4 stars. Adequate, but nothing much to say about it.
Before our dinner reservations, we strolled over to the historic area of San Jose, at least that’s what our map called the neighborhood. It was fairly quiet and not much seemed to be open. We had tickets to see Whitney Cummings at the San Jose Improv Comedy Club. So right after dinner, we walked over to the comedy center to stand in line.
By the time they opened the door, we were positioned about halfway in the line. But once inside, we were ushered upstairs and forced to sit in the nosebleed section, almost up against the wall. I just got our tickets a few days ago; however, there seems to be VIP seating that can be obtained in advance, which we were not privy to. Well, next time I will know.
The club also instills a 2-drink minimum. They should just take your money, and hand you tickets which you can throwaway. I am too old now to enjoy a couple of drinks with dinner and then throw down a couple more at a club. That’s too much alcohol. I mean, they can make me pay for it, but they can’t make me drink it. My husband insisted I could order a glass of water or a ginger ale but the point is I did not want to consume anything else simply because of that stupid requirement.
Whitney Cummings put on an entertaining act, but I’ve enjoyed others more on Netflix comedy specials. Comedians like Bo Burnham, Hannah Gadsby, John Mulaney, Mike Birbiglia and Iliza Shlesinger. Stand-up comedy specials are addictive. Especially when the comedian is talented, smart and dark. Like with any method of communication, though, whether written or verbal, most of us prefer an informative delivery. Whitney Cummings delivered no message.
Keeping with this vein, I would like to say our hotel room for this weekend getaway to San Jose was fabulous, but it was simply inexpensive. If it wasn’t so hot that you needed to run the AC all night, it might have been more bearable. But the in-room AC unit was outrageously loud. Every 15 minutes, the room fills with the sound of a locomotive coming right at you. Still, it cost $300 for the top floor of the Westin vs $1,000 at The Fairmont.
August 12 Sunday Open Houses in Sacramento Region From Team Weintraub
What a busy day this is turning out to be for August 12 Sunday open houses from the Elizabeth Weintraub Team. If you are excited enough to brave the smokey hazy weather in Sacramento and get out there, all of these open houses will be available to tour this afternoon. Whether you are looking for a million-dollar home in the city of Davis or a quaint cottage near downtown, we’ve got homes for you.
As always if you’d like more information about any of our August 12 Sunday open houses in Sacramento, please call Elizabeth Weintraub at 916.233.6759. I can get you a private appointment at almost anytime on any day.
3804 Los Cerros Place, Davis, CA 95661 is offered at $1,025,000. It features 4 bedrooms, 3 baths, and over 2,700 square feet, not including a 600-square foot sunroom. The seller says he spent more than $200K on the back yard, flagstone, waterfalls, outdoor kitchen and beautiful pool. Open from 12:00 to 3:00 PM.
4700 Lakeside Way, Fair Oaks, CA 95628 is offered at $925,000. This mid-century home is situated on 1.37 acres and boasts almost 3,500 square feet of single-level living. Dual masters at opposite ends of the home make this an ideal layout for multigenerational families. 5 bedrooms, 4 baths. Open from 2:00 to 4:00 PM.
2641 Curtis Way, Sacramento, CA 95818 is offered at $895,000. Beautiful vintage home, colonial-style built in 1922 features 4 bedrooms, 3 baths, and 2,818 square feet. Hardwood floors mostly throughout, plus a sauna in the second floor bedroom with the balcony. Huge master suite. Pool! Open 2:00 to 4:00 PM.
411 U Street, Sacramento, CA 95818 is offered at $349,000. Adorable 1927 bungalow near Southside Park between downtown and Land Park. Close commute for government workers. Home features 2 bedrooms, 1 bath, and a large kitchen, plus laundry area. Storage shed in the back yard. Open 2:00 to 4:00 PM.
9089 Paseo Grande Way, Elk Grove, CA 95758 is offered at $340,000. Perfect for a first-time homebuyer, this home in Laguna Park has 3 bedrooms, 2 baths, and a fireplace in the living room. Vaulted ceilings make the space seem much larger. All appliances can stay. Two-car garage. Open 2:00 to 4:00 PM.
And this brings us to an end of August 12 Sunday open houses in Sacramento. We have a fixer house that is not open today as well.
July 2018 Sacramento Housing Report Suggests Stability
There are subtle changes in the July 2018 Sacramento housing report from Trendgraphix this month. It re-enforces what I see from my professional practice. Since May, I have noticed a slight change in Sacramento real estate. A bit of cooling from the extreme frenzy, and I’ve discovered there are some strategies that no longer work very well, so I’ve been shifting my approaches accordingly.
In looking through the statistics, what jumps out at me is the big uptick in inventory. However, pending sale numbers are surpassing closed sales for last month, which means August should be a good month for closed sales. Also, although the inventory is up, the new listings are down. Yet the average price per square foot is the highest it has been over the past 15 months, coming in at $237. Our median price is about the same in the July 2018 Sacramento housing report.
Basically, our closed sales are down 4.1% over this time last year. Our inventory is up by 22.1%. When inventory goes up and sales go down, we should see a little bit of cooling in the market. It will be interesting to note when we move into our spring market next year if this trend continues. However, the real number I see is the median sales price which has been fairly stable over the past 3 months, moving from $359K to $360K and back to $359K.
Below are the supporting statistics for the July 2018 Sacramento housing report.
charts: Trendgraphix, used with permission from Lyon Real Estate.
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