Comments on: Think You’re In Trouble? Look at the Sacramento Real Estate Market http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/ Learn, Network, Invest Tue, 02 Dec 2008 00:32:50 +0000 http://wordpress.org/?v=2.6.5 By: sweet Home Oregon Real estate http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-53298 sweet Home Oregon Real estate Mon, 31 Dec 2007 11:40:37 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-53298 Short sales are looking even better right now. I noticed the inventory is raising locally. Might be a good thing for investors. Short sales are looking even better right now. I noticed the inventory is raising locally. Might be a good thing for investors.

]]> By: Metro 1 Properties http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-48853 Metro 1 Properties Fri, 23 Feb 2007 19:34:43 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-48853 That's a very interesting and thought provoking statistic. We specialize in commercial real estate in Miami, Florida, primarily warehouses, office space, commercial leasing and investment properties. I'm anxious to see how Miami compares to other markets besides California. That’s a very interesting and thought provoking statistic. We specialize in commercial real estate in Miami, Florida, primarily warehouses, office space, commercial leasing and investment properties. I’m anxious to see how Miami compares to other markets besides California.

]]> By: Derek http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-48494 Derek Fri, 23 Feb 2007 05:41:41 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-48494 What an amazing statistic. The worst I ever heard about in Indy was 1 in every 64 homes. I can't imagine what that's going to do to values out there. What an amazing statistic. The worst I ever heard about in Indy was 1 in every 64 homes. I can’t imagine what that’s going to do to values out there.

]]> By: Athol Kay http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47696 Athol Kay Thu, 22 Feb 2007 01:39:34 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47696 1 in 5 is pretty bad. 1 in 5 is pretty bad.

]]> By: aziz http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47667 aziz Wed, 21 Feb 2007 23:25:03 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47667 But isn't this what economic cycle is all about. This seems to be an excellent market for investors who will drive the prices down by low balling on their offers and get great deals before the market turns back up again. But isn’t this what economic cycle is all about. This seems to be an excellent market for investors who will drive the prices down by low balling on their offers and get great deals before the market turns back up again.

]]> By: Bonnie Erickson http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47662 Bonnie Erickson Wed, 21 Feb 2007 22:55:10 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47662 The trend has hit the Minneapolis and St. Paul, Minnesota market as well. Agents are asking, "Has anyone done a short sale, and know anything about it?" Years ago we had rarely heard of short sales. I see the downturn in the market (although our median prices held at 1-2% increase, the time on the market is much longer), 100%+ financing, up to 50% debit to income rations, and ARM mortgages that were not properly explained as contributing factors. Our job market remains strong, but when people can't afford the change in their payment and can't sell, that forces prices down and hence the short sales. Not a fun place to be. The trend has hit the Minneapolis and St. Paul, Minnesota market as well. Agents are asking, “Has anyone done a short sale, and know anything about it?” Years ago we had rarely heard of short sales. I see the downturn in the market (although our median prices held at 1-2% increase, the time on the market is much longer), 100%+ financing, up to 50% debit to income rations, and ARM mortgages that were not properly explained as contributing factors. Our job market remains strong, but when people can’t afford the change in their payment and can’t sell, that forces prices down and hence the short sales. Not a fun place to be.

]]> By: Dr. Housing Bubble http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47538 Dr. Housing Bubble Wed, 21 Feb 2007 18:43:10 +0000 http://www.biggerpockets.com/renewsblog/2007/02/21/think-youre-in-trouble-look-at-the-sacramento-real-estate-market/#comment-47538 According to some stats I’ve seen, 1 in 5 current sales is a “short-sale” and this is preliminary data. We’ve just started seeing the implosion of the subprime market (i.e., New Century Financial and Wells Fargo laying off 250 employees to name a few examples). The market is quickly correcting in halo effect areas; that is areas that are close enough to prime locations such as San Francisco or West Los Angeles but aren’t prime on their own. Now that the market is adjusting these are the areas that will massively correct first; look at Riverside, San Bernadino, and Arizona for how quickly non-prime property can go down. Sacramento is simply losing the luster of benefiting from <a href="http://drhousingbubble.blogspot.com/2006/12/top-ten-housing-markets-to-fall-answer.html" rel="nofollow" rel="nofollow">California-Equity-Giants</a> According to some stats I’ve seen, 1 in 5 current sales is a “short-sale” and this is preliminary data. We’ve just started seeing the implosion of the subprime market (i.e., New Century Financial and Wells Fargo laying off 250 employees to name a few examples). The market is quickly correcting in halo effect areas; that is areas that are close enough to prime locations such as San Francisco or West Los Angeles but aren’t prime on their own. Now that the market is adjusting these are the areas that will massively correct first; look at Riverside, San Bernadino, and Arizona for how quickly non-prime property can go down.

Sacramento is simply losing the luster of benefiting from California-Equity-Giants

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