Anybody who doesn't realize that the Sacramento market has reached the bottom either isn't paying attention or is watching TV soaps. The activity this August has been nuts. Ordiinarly, I will see a spike right after Labor Day, but instead this year it happened mid-August. It's frightening to think what will happen after Labor Day.
Buyers are demanding deals and concessions, banks, reos and sellers are listening. Mutiple offers are the norm. There is no freakin' inventory. We had 14 months of inventory last December and now Sacramento County has shrunk to 3.7 months. Pretty soon those pending sales and closed sales lines on the charts will cross inventory. When that happens, it means prices will go up. And we are closing in on that mark.
Certified HAFA Specialist
Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.
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Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.