29 replies to this topic

[Steve Heard]

Despite the rise in interest rates over the past few months, and the increase in available inventory,  Folsom housing prices continue to rise, with the average price per square foot for homes sold in August at $203.

The last time Folsom prices were this high was July of 2008, on their way down from the high of 271 in August of 05.

In comparison, El Dorado Hills and Roseville each saw reductions in their average prices. Time will tell if we’re seeing a trend or just a bump in the road.

For now, Folsom is still attractive to families looking for a safe clean town with good schools, recreation, and overall quality of life.

What are your thoughts? 

 

What do you hear on the street? 

 

Will it continue or are we ready to hit the wall? 

[asbestoshills]

So, this is the question....Are the prices getting ready to drop b/c it's fall? Will the prices be even higher in spring, I need to know:)

[Steve Heard]

Hard to say. Impossible, really. 

 

Last fall, the price per square foot for Folsom was $167 in September, November and December, and $166 in October, so pretty flat.

 

This is similar to what we saw in 2011. In 2010 prices fell a bit, but that was a trend for the previous couple of years. They were declining just about every month.

 

With the increase in inventory, one would think that prices may at least slow down, and there may be some bargains to be had with people who over-priced coming down to earth. 

 

Are you thinking of going into the market?

[caligirlz]

Just a quick response for now...what I hear on the street, is a lot of class envy. It seems there are plenty of people down in the Sacto area who want to live in Folsom, but can't afford it, and have all kinds of reasonings why they don't like Folsom....

[rip]

Supply and demand still works.  If the inventory continues to grow and interest rates climb, prices will likely decline modestly.  If rates stabilize and inventory stays the same or goes lower the run up in prices will continue.  If someone made me guess, I'd say we are going to see at least a temporary pull back in prices over the next few months.  Then again, I had expected flat prices in August in response to the spike in interest rates.  Shows what I know.     

[aztransplant]

It seems there are plenty of people down in the Sacto area who want to live in Folsom . . . and have all kinds of reasonings why they don't like Folsom....

Could you elaborate, caligirl? It doesn't make sense to me that someone would WANT to live somewhere s/he doesn't like.

[Steve Heard]

Just a quick response for now...what I hear on the street, is a lot of class envy. It seems there are plenty of people down in the Sacto area who want to live in Folsom, but can't afford it, and have all kinds of reasonings why they don't like Folsom....

I was just talking to a friend about this the other night. 

 

He moved from the Bay Area, and purchased in El Dorado Hills (Serrano). I said, 'It's been almost a year. How do you like it?'

 

He said that he wants to move to Folsom, where it's more homey, and his wife said, 'the people up here are so snooty compared to Folsom'.

 

I told them that many of the folks down the hill think Folsom is snooty. 

 

I guess it's all a matter of perspective (and perception). 

[caligirlz]

In talking with friends about good vs bad areas in Sacramento. Folsom is always considered one of the good areas. But there are some people, who live in midtown, or anywhere down in Sacto, who discourage others (new people from out of state, or other towns) from moving to the suburbs, specifically Folsom, because that's where the "snooty" people live.

 

We had quite a lively discussion about whether Elk Grove was "ghetto" or "ghetto-like", and people jumped all over me for living in Folsom. Many of the comments sounded a lot like class envy. It's totally ridiculous!!

 

Here's some highlights of some of the discussion:

Basically, like Folsom. A lot of people freak when they see brown people.

 

If you're scared of being around non whites then perhaps you would be happier in the far-northeast suburbs, like Fair Oaks, Folsom, Rocklin, Roseville, etc. but...

 

I think some people should remember that there are places in between "ghetto" and "stuck up rich" neighborhoods. What I've learned here is that the stuck up upper class types view anything that isn't upper class as the ghetto.

 

me: Typically, as one ages and rises on the social economic ladder, they buy up. And if they desire, can move into the better communities. So I can afford location now. I worked damn hard to get here. i feel sorry for those of you who are jealous. Maybe when you get a little older and mature, you will understand.

RESPONSE: Lol at the "feel sorry for those who are jealous" comment. Could you be more stuck up?

 

i drove down some streets in Folsom to get to a sewing shop once and it was not that impressive.

 

I went to Folsom yesterday and saw.......strip malls! Slightly newer strip malls than some of EG's, but still. I also drove through a neighborhood that looked older and, well, not so hot. So I am really not getting all the Folsom Pride.

 

Probably because that folsom pride some times comes with a confederate flag, judging by the way some people are there.

 

Folsom is wanna be yuppy, if anything, fault-wise

 

Folsom is kinda hoity toity

 

There is a reason all the classy people and custom homes are in granite bay.

 

 

And on, and on, and on..........

 

 

[caligirlz]

I just spent 10 minutes writing a response, and it's clocking on...and my post is MIA

 

Edit: it arrived. Computer is acting weird tonight!

[Carl G]

I guess the irony in all this is I've talked with many people who have commented they liked Folsom because it is friendly and safe.  I've run into my share of rude and snooty people, but I don't project to to the entire town.  There are bad people everywhere.  

 

If the worst that can be said of Folsom is they people are snooty, I'll take that over having to live someplace where I cannot walk at night for fear of being robbed or park on the street for fear of my radio being stolen.

[Carl G]

I was thinking about a week ago that the market seems to have slowed down because I haven't seen much activity lately, but in the last couple of days the home next door and the one around the corner have sold.  I personally expect that the housing market will slow down and prices soften primarily for two reasons: 1) We are moving into the traditional slow time of the year, and 2) Most of the people where were trying to time the bottom of the market have made their move so now we can get back into the normal market activity.

[4thgenFolsomite]

I personally don't care what people think of Folsom. It has been many things for nearly 160 years. To me, Folsom has history and lots of park space around lakes and that is pretty obviously wonderful! Very happy to live here. If only it wasn't so hot in summer!

[asbestoshills]

 Folsom used to be very white, but now  is  mixed compared to when we first moved here and has a lot of different races, Indian, Asian, Middle Eastern, African American and Hispanic and there is still that certain kind of hick that lives here that doesn't like the demographic shift, but oh well for them. In fact, the biggest two minorities moving here from the bay area on word of mouth are Asian and Hispanic for the good schools and relative safety. The reason some people move to Folsom is the lake. I do think people conceive EDH snobby, and Folsom used to have a bit of this, but now it just seems like any other town. I noticed a lot more low income people here then before b/c of all of the apartments and when the housing market crashed people who never considered Folsom moved here relatively cheaply and why not? The negatives are the parks aren't kept as well as they used to be 10 years ago etc.,traffic issues and a strain on the school system,  but it's still better than some other cities around us.

I think the biggest threat to Folsom is the annex on 50 and it will bring home prices down and create one mega city like Temecula in the Inland Empire area. If anyone knows this area, Folsom and Elk Grove will eventually grow together creating a big mess, but it will take another 15-20 years to see the full effect.

[TruthSeeker]

I personally don't care what people think of Folsom. It has been many things for nearly 160 years. To me, Folsom has history and lots of park space around lakes and that is pretty obviously wonderful! Very happy to live here. If only it wasn't so hot in summer!

 

+100!

 

Why do people need to be judgmental and racist and put labels on people and places? That's BS in my book. The people claiming to have a problem with Folsom ARE the problem themselves. It sounds to me like they are too judgmental and racist to get anywhere in life - always too busy blame shifting. It's everyone else's fault but their own for where they are in life. Give me a break. I'm happy to live with all types, all classes, all races and I think it's good for Folsom to have all classes/wealth/races represented to keep a good balance. I don't want to live in a rich whitey only town, I think EDH sucks entirely because of the snooty holier then thou attitude from the people there, they can stuff that attitude, life is way too short to put up with that.  We are all equal - period, end of story.

[ducky]

We didn't move here to move up any "social economic ladder" (socioeconomic?).  We found a house we could afford, it was a safe community, had good schools, good parks, and there used to be very little traffic within town and was very walkable (still is for us).  I do, however, qualify my response to "Where do you live?" with "I moved to Folsom before it boomed and live in the older section of town" because you get that look.   My kids have mentioned it too.  When they say where they grew up people automatically assume their parents are well off.  

 

I've run into the people that say Folsom has a reputation for being snooty.  I think it's an uninformed opinion being misplaced on a majority of the residents, but there are also those that live up to the reputation with their attitudes that because they paid more for their house it automatically gives them class.  

 

Having said that, the good people more than make up for the bad and this is still an excellent place to live.  It's getting more expensive to live here, but we haven't found anyplace else we'd rather be.