With all the doom and gloom presented recently on this forum here is a nice bit of news -
Sacramento home prices jump 10 percent in August
By Hudson Sangree
hsangree@sacbee.com
Published: Friday, Sep. 14, 2012 - 12:14 pm
Read more here: http://www.sacbee.co...l#storylink=cpy
Driven by short supply and relatively high demand, Sacramento County's median home price continued its steady upward climb in August - and rose more than 10 percent from the same month a year before.
At the same time, foreclosure sales dropped to their lowest level in five years.
Real estate information service DataQuick reported this morning that the median price for detached, resale homes in Sacramento County reached $176,500 last month. That was $6,500 more than the month before and $16,500 more than August 2011.
Read more here: http://www.sacbee.co...l#storylink=cpy
On The Plus Side - Sac County Home Prices Rise 10%
Started by
folsom500
, Sep 14 2012 12:56 PM
4 replies to this topic
#1
folsom500
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Folsom Gardner
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Posted 14 September 2012 - 12:56 PM
"Never doubt that a small group of thoughtful, committed people can change the world. Indeed, it is the only thing that ever has"
-Margaret Mead-
-Margaret Mead-
#2
(MaxineR)
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Posted 14 September 2012 - 02:24 PM
My doom and gloom is the equity I’ve lost in my home since the housing bubble broke.
For those who are happily planted in their homes, for the rest of their lives, it’s not an issue.
But, for those of us who wanted to cash in on our equity and down size to smaller homes in our retirement, it’s a huge loss.
And now, even if we choose to sell and buy another smaller home, there are far too few to choose from.
We are nor under water, but too many are, and won’t be selling any time soon. THAT, is the real problem.
I’m betting you have paid off your house and not looking to sell any time soon?
For those who are happily planted in their homes, for the rest of their lives, it’s not an issue.
But, for those of us who wanted to cash in on our equity and down size to smaller homes in our retirement, it’s a huge loss.
And now, even if we choose to sell and buy another smaller home, there are far too few to choose from.
We are nor under water, but too many are, and won’t be selling any time soon. THAT, is the real problem.
I’m betting you have paid off your house and not looking to sell any time soon?
#3
Robert Giacometti
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There are no Dumb questions
Posted 14 September 2012 - 03:19 PM
The real question is are values going up?
The average price per home sold could go up in a given time period if more larger homes are being sold compared to smaller homes in a comparable time period. If one month 100, 2000' homes sold it would be logical they collectively would be higher priced than a month that 100, 1200' homes sold.
No doubt having less inventory does imply that we might be at the bottom of the market.
The average price per home sold could go up in a given time period if more larger homes are being sold compared to smaller homes in a comparable time period. If one month 100, 2000' homes sold it would be logical they collectively would be higher priced than a month that 100, 1200' homes sold.
No doubt having less inventory does imply that we might be at the bottom of the market.
#4
Thinkingoutloud
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Posted 14 September 2012 - 07:17 PM
From my perspective, things are improving. I'm refi'ing and had to get an appraisal this week. We're only 25k down from what we bought at 4 years ago. I'm pretty happy with that. A few years ago we were down 80k, so it's moving in the right direction. A few more years and I'll be back even. 
#5
(The Dude)
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Posted 14 September 2012 - 07:43 PM
Actually my house values decreased by 5% this month due to the dozen foreclosures near my place
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