Here are the housing market stats for August, 2008, in ZIP 95826, which encompasses College Greens and Rosemont.
You can see that inventory has fallen 65% from a high of 190 in September of 2007. Yet pending sales and closed sales have risen over the past 15 months. If inventory continues to drop, that could push prices higher. Much of the activity in the market in 95826 has been due to REOs and short sales. A flood of bank-owned homes could drive prices down, but if inventory doesn't increase, we could see home prices rise in College Greens and Rosemont.
This area is an investor paradise as many of these homes will produce a cash flow with 20% down. There is a high demand for rentals in 95826 due to its close proximity to CSUS.
As with any area in Sacramento, pockets of homes change from block to block, but many investors I work with prefer to buy north of Folsom to the river. In fact, an investor-client who bought a bank-owned home for her daughter this spring emailed this morning to say she is interested in buying another property in this neighborhood. She must be happy with her investment. She beat out 24 other REO offers.
If you're looking to buy or sell a home in College Greens or Rosemont, give me a call at 233.6759. I always answer my cell. I know the neighborhood well.
Source: Trendgraphix
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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 Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available through bookstores everywhere and at Amazon.com.
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.
Perfect turnkey home in East College Greens. Upated and remodeled. Newer carpeting. Open kitchen (with ceramic) overlooks dining room and family room, which offers tons of light and spacious entertainment. Mediterranean flaire.
