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 Tony Vicari  Tuesday, July 14th, 2009 Sacramento activity has remained relatively consistent for the past few months, showing slight increases in sales volume. After a significant increase from April to May (7.7%), the median sales price made no movement for the current month. Distressed properties still account for a large number of transactions and make up a majority of the listing inventory. New this month is the comparison between REO sales, short sales and equity sales.
There were 1,744 single family home sales in June, a .6% increase from the 1,733 sales of May. Year-to-year, there is a 7.4% decrease from the 1,883 sales recorded last June. REO sales decreased 10.4% month-to-month, from 1,050 in May to 940 in June. These 940 REO sales made up 54% of June sales. Short sales, on the other hand, have been on the rise. In May, short sales made up 14.5% of all sales with 251. Short sales accounted for 16.6% (290) of the 1,744 sales this month. Comparing the two months, there is a 15.5% increase from 251 to 290 short sales.
Continue reading: Sales Volume Constant, Median Sales Price Unmoving, Affordability Climbs
Tony Vicari Friday, June 26th, 2009
The Monthly Industry update, chaired this year by President-Elect Barbara Harsch, features great information on a variety of topics. Today, the 30 some SAR Members were treated to a legislative update by SAR Government Affairs Director Caylyn Brown and SAR Legislative Advocate Eric Rasmusson. They touched on a number of issues from local, state and federal levels.
The first topic discussed was point of sale. In an effort to reduce the amount of water used by local citizens Continue reading: Industry Update features Legal Update
Tony Vicari Tuesday, June 16th, 2009
The current market offers a variety of low-priced, move-in-ready homes as well as properties that are in need of significant repairs. One thing they have in common is the people they attract: Investors. As home prices dropped over the last year(s), Sacramento has also seen a steady rise in the percentage of cash sales. Statistics retrieved from the MetroList® MLS database show that 25.1% of sales in May 2009 – 467 units – were purchased with cash. Compared with last month, where April had 503 cash-sales (accounting for nearly 28% of all sales), there is a 7.2% decrease. May’s cash-only sales, however, show a 158% increase from the 181 cash-only sales (10.2%) of May 2008. The charts below, reflecting both single family home and condo sales, offer more information about this occurrence. For more data on cash sales, please contact Tony Vicari @ 916-437-1205.
Continue reading: Sales Volume and Median Sales Price Increase, Cash-only Purchases up 158%
Tony Vicari Monday, May 18th, 2009
April showed little fluctuation in median sales price and sales volume. This data, compiled by the Sacramento Association of REALTORS®, is collected from the MetroList® multiple listing services and covers Sacramento County and the City of West Sacramento. There were 1,707 sales in April, a 1% decrease from the 1,725 sales last month, but a 17% increase over last year’s 1,450 sales. REO properties continue to be a defining factor in the inflated rated of sales, this month attributing for over 65% of all sales. This percentage, however, has made small declines each month since January, where distressed properties accounted for over 75% of sales.
Continue reading: Single Family Home Sales, Median Price Showing Little Movement
Tony Vicari Wednesday, May 6th, 2009
This Wednesday morning, as do many Wednesdays, brought commercial real esate education to 2003 Howe Avenue. These “Commercial Forums” as we call them here at SAR, feature instructors who not only have many years experience in commercial real estate, but have also owned and invested many times themselves. The SAR Commercial Division was created to provide for its Members a link to the very different world of commercial real estate. From introductory courses to the complex, SAR hopes to accommodate many Members at many levels of experience.
Today we welcomed Ed Craine of Smith-Craine Real Estate Financing, a man with over 25 years experience in residential and commercial lending. Recently elected as Vice President of the California Association of Mortgage Brokers, Ed has financed more than $3 billion in property through the years. Accompanying Craine to Sacramento was colleague Dan Conrad, Smith-Craine Senior Loan Consultant and co-author of The Lazy Millionaire: How to Build Real Estate Wealth While You Sleep. Together, these professionals provided years of personal experience for their knowledge-hungry class.
Continue reading: Did You Know… SAR Offers Commercial Real Estate Classes?
Tony Vicari Thursday, April 30th, 2009
Members of the SAR Community Outreach Committee joined 20 other companies and organizations at the Sac City Community College Spring Career Fair. Unlike other booths, who were searching for possible candidates for employment, SAR and its volunteers instead provided information about starting a career in real estate and the many benefits associated with it.
Continue reading: SAR Reaches Out to Sac City Students
Tony Vicari Wednesday, April 29th, 2009
Early this past Saturday morning, a usually quiet Colonial Heights neighborhood was alive with sounds of pounding hammers, buzzing skillsaws and the excited chatter of people. These were people who, under the guidance of their own hearts, had made the decision that they would volunteer this beautiful April morning. To dedicate one’s time, energy and skills with no pay requires a kind heart and the desire to help. There were definitely some very giving people working on this day.
Continue reading: SAR Volunteers Rebuild Together
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