Sacramento Real Estate by Julie Jalone

Keep it Real in Sacramento - December 2007













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Julie Jalone
REALTOR, MagnumOne Realty
Cell/Direct:  916 276-6883
Office:          916 290-9339
Fax:             919 577-1329
Email:  julie@jalone.com 


 

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December 2007 Keep it Real in Sacramento
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Keep it Real in Sacramento 
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Friday, December 28, 2007
Laguna Beach

Christmas is past and we are wrapping up 2007.  I thought this holiday season might be slow with some time to catch up on some of those things you always put off, but that was not the case.  Of course some of my “busy” has been related to starting MagnumOne Realty but I do have a new listing that I am excited about.  It is in the Barrett Ranch area of Antelope which is so new that the streets of this subdivision are not shown on the major map sites or my car GPS system. 

 

What is so interesting about the Laguna Beach Way home is that is loaded with upgrades and virtually new.  A wonderful couple bought it from the builder and added almost every upgrade thinking this would be their dream family home for years to come.  Plans changed for various reasons and they moved out leaving this wonderful home and all the extras for someone else.  Take a look at it, we have some good photos, and let me know what you think.

Monday, December 24, 2007

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Sunday, December 23, 2007

 Remember this at Christmas Time

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I couldn’t resist posting this…..According to the Alaska Department of Fish and Game, while both male and female reindeer grow antlers in the summer each year, male reindeer drop their antlers at the beginning of winter, usually late November to mid-December.   Female reindeer retain their antlers ‘til after they give birth in the spring.

Therefore, according to EVERY historical rendition depicting Santa's reindeer, EVERY single one of them, from Rudolph to Blitzen, had to be a girl.

You should’ve known . . .  ONLY A woman would be able to drag a fat-ass man in a red velvet suit all around the world in one night and not get lost.

Friday, December 21, 2007
Friday before Christmas!

Today is the last school day before Christmas vacation for Mikie and most kids; do you remember how great that felt?

 

Here in the Sacramento real estate market we are not following the law of supply and demand which says as supply declines demand increases.  In real estate this would normally mean as the inventory of homes for sale declines the asking prices of those on the market would increase.  For the past seven weeks according to HousingTracker inventory of homes for sale has been declining but there has been no sign of asking prices increasing or even firming.  In the last month alone, inventory has dropped over 6 percent.  During that time asking prices have fallen 4.2 percent which is even faster than the three month figure of 9.6 percent. 

Looking back a year, although we are seeing declines in the current inventory of available homes,  we still have over 19 percent more homes on the market now.  The median asking price which currently stands at $334,500 is down 18.2 percent from a year ago.

By the way, the tax break for mortgage loan debt forgiveness I mentioned several months ago has now become a law.  This is a pretty nice Christmas present for those folks who were able to complete short sales this past year.

Last but not least, only 4 shopping days until Christmas.  There is always more to do so the only time I know I am done getting ready for Christmas is when time runs out!

Tuesday, December 18, 2007
Sellers: New Formula for Pricing

In difficult times successful people become creative rather than relying on what has worked in the past.  In the slower Sacramento area real estate market determining how to price your house if you are a seller is a key ingredient in obtaining the most money in the shortest period of time.  Check out my latest column over at Rocklin & Roseville Today, “Price Your House to Sell,” and see how the use of comparables has changed.  I have also published the article on the Real Estate News page.

 

Sunday, December 16, 2007
Farewell Alliance Title

I want to acknowledge the fine people at Alliance Title who lost their jobs last week when management decided to close the operation.  We were customers of Alliance and enjoyed working with the staff and especially Christine Moore who always had a smile on her face and went the extra step to make sure our clients and needs were met.  We will miss working with Christine and the team!  I know it has been a difficult year in the real estate industry, especially here in the Sacramento area but, when a company the size of Alliance Title, with the customer base they had developed, just “closes the door” rather than sell the business you have to wonder if there is something more to the story.

 

By the way, the market reception to our new company, MagnumOne Realty has been so very positive and I want to thank all you who have taken the time to send me emails and notes about starting a new company.  I am delighted to say we are busy and are looking to add one or two experienced agents to the team.  If you are an agent and considering a move to a smaller firm with a strong commitment to agents and customer support, please let me let me know.

Wednesday, December 12, 2007
Lots happening for a slow time of year!

Normally this is a very slow time of year for the Sacramento and other real estate markets.  Not many people want to sell or buy homes during the holidays and Realtors get some needed rest and a chance to catch-up with the rest of the world.  Not so, at least so far this year.

 

Check out my column over at Rocklin & Roseville Today, Costs up + Attractive Rates = Increased Mortgage Applications and see what is happening and some of my own observations.  I have also published the article on my News Page at jalone.com.

Saturday, December 08, 2007
31 Gone and More to go!

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Since November 28th when I recommended looking at the Catalog Choices where you can have your name removed from almost any catalog mail list I have been collecting the catalogs we receive and have now eliminated us from 31 mail lists.  I hated to say good bye to Godiva Chocolates but I really don’t need the calories and paper.  In addition I have suggested about another 10 catalogs I would like to see added to their list.  It is a really easy site to use and although it won’t reduce much this holiday season, I am sure our mail box will have more room when the spring catalogs are sent out.  I am on a mission, join me!

Wednesday, December 05, 2007
Sacramento Market Down but Not Out

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There are a number of local sites that do a good job of reporting the monthly real estate statistics for the Sacramento real estate market.  This month I am looking at Sacramento Real Estate Statistics where the author just posted some November numbers for our area.  The comparisons below are pretty ugly but I caution readers to remember that we have a strong and diverse local economy and our real estate market will improve. 

            Average $/SF                            Median $/SF    

            2006 - $234                               2006 - $226

            2007 - $198                               2007 - $187

 

            Average Sales Price                  Median Sales Price

            2006 - $419,543                         2006 - $375,000

            2007 - $360,271                         2007 - $320,000

 

In addition the site includes a chart showing the number of closing in the four county Sacramento area.  In September there were 1,287 closings compared to 1,386 in October and 1,158 in November.  Looking at November for the past two years reveals in 2005 there were 2,172 and in 2006 there were 1,710 closings.  The 1,158 for this November clearly demonstrates the doldrums the market is currently in.

Monday, December 03, 2007
Reality Real Estate

My reality real estate series, MyForSaleSign is where I blog and photograph a transaction as it happens.  I recently completed my first series when Randi and Tony completed the sale of their Yuba City condo and purchased and moved into a brand new home.   We had fun doing the series, Randi and Tony were great and let us share so much and the reader response was wonderful.  I had lots of comments and even some suggestions from other agents who were following us.  I feel like it was entertaining as well as informative.

Until I find another client who is willing to let me blog and start my podcasting about their real estate transaction I will continue to chronicle our own adventure in Anchorage, Alaska.  We have a rental property up there that we completely remodeled and have now had on the market for what seems like forever.  It is a great starter home or potential rental for an investor.  It has a good location within the city but the neighborhood has its share of issues.  It is one of those streets where you are starting to see signs of improvements but still enough not so nice places that the entire neighborhood does not look as good as it could.

I made a trip to Alaska over this past weekend to review with our Realtor where we are in the process, what changes need to be made and just to make sure the place is still showing well.  I also was able to surprise my sister Lynn on her birthday.  It was a fun weekend and the house clearly needs to be cleaned again but generally looks very nice.  We have held on to it this long and will continue to wait for the right buyer to come along.  It really is cute and virtually brand new now with all the remodeling we did.  If anything we may have over improved the home for the neighborhood.  That is the kind of mistake investors can make when they don’t live in the same area as their investment property.

If you are interested in the MyForSaleSign reality real estate series check out the main site and the blog

Happy Birthday Lynn, I loved surprising you!

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Cell: 916 276-6883 or Office: 916 290-9339 Email: julie@jalone.com