Well, according to Fortune Magazine, that is. It released today its Top 10 Worst Real Estate Markets in the country, and Sacramento came in as number five. First, let's define worst real estate market. I guess Fortune believes the worst markets are due to median housing price declines. You know, that is actually a GOOD market for a buyer. I'm excited to be representing home buyers right now, especially with these fabulously low interest rates.
Fortune magazine predicts that Sacramento values will fall again in 2009 but rise in 2010. Interestingly enough, out of the top 10 worst real estate markets, Sacramento is the ONLY market projected to see a price increase in 2010! Perhaps because we were the first to fall. We'll be the first to come back.
2009 will be a very interesting year for Sacramento real estate. Buyers have the best chance in decades to buy an affordable home now in Sacramento. I can't wait for the New Year.
Fortune Magazine gathered its data from NAR and Moody. So, if you believe in NAR and Moody and the Tooth Fairy, here are the stats:
- 2008 median home price: $225,140 (actually, its $185,000)
- 2009 projected change in median home prices: -22.2%
- 2010 projected change in in median home prices: +2.3%
The Short Sale, by Elizabeth Weintraub, coming from publisher Archer Ellison in January 2009.
Photo: Elizabeth Weintraub, William Land Park, Sacramento
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
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.
