Sacramento’s City of Trees… and Tree Roots: Why Every Homebuyer Needs a Sewer Line Camera Inspection...

Buying a home in Sacramento comes with all the usual emotions: excitement, nerves, the constant mental math of “will my sectional sofa fit in the living room?” But there’s one very unglamorous thing home buyers here absolutely have to think about… and it lives underground. 

Sacramento didn’t earn the nickname "City of Trees" by accident. Those towering elms, oaks, and sycamores make our neighborhoods absolutely gorgeous. They also make us, as one local plumbing company jokes in a recent TV ad campaign, Sacramento is also the "City of Tree Roots".  And if there’s one thing tree roots love more than sunshine and soil, it’s old sewer lines. 

A lot of Sacramento’s homes were built decades ago, long before ABS plastic pipes were the material of choice for sewer lines. It is common to find that buried sewer lines are made of cast-iron, clay, cement, or orangeburg pipe. Not surprisingly, time takes its toll on these materials. Small cracks appear. Joints loosen. And the moment a thirsty tree root senses even the tiniest bit of moisture, it makes a beeline straight for the buried sewer. 

The result: tree roots in a sewer line cause blockages, slow drains, or in the worst cases, full-on sewer line failures that cost lots of money to fix. The tricky part is that everything inside the house can look perfect. The paint is fresh, the kitchen sparkles, and the backyard feels like a little urban oasis. Meanwhile, eight feet underground, a root could be strangling that aged sewer pipe. And waste may flow through an obstructed sewer line and the homeowner may never notice an issue...until maybe a *flushable wipe* (umm, please NEVER flush a flushable wipe!!) gets caught up on the root and sewage backs up into the house.

This is why a sewer camera inspection is WORTH EVERY PENNY. A plumber feeds a small scope with a camera through the home’s main sewer line, and in a matter of minutes you get crystal-clear look at what’s going on down there. It's like a colonoscopy for your home. Roots, cracks, bellies (spots that lack proper slope) in the line, buildup… all stuff you can’t see during a regular home inspection but absolutely should know about before you buy. 

Replacement of a line can be expensive...and I have negotiated A LOT of sewer line repairs and sewer replacements in my time as a Realtor.

If you are thinking about buying a home in an older Sacramento neighborhood -- in areas such as Arden-Arcade, Arden Park, Carmichael, Del Dayo, Sierra Oaks, Fair Oaks, East Sac, Land Park, Curtis Park, Tahoe Park, Hollywood Park, Folsom, Orangevale, or Rancho Cordova -- this is especially important. But I also strongly recommend having any sewer line inspected no matter what age the home is.

Given our tree canopy, skipping this inspection in Sacramento is kind of like buying a car without giving it a test drive. Often, things are fine. Perhaps a prior owner replaced or repaired the line... but when there are issues, things get expensive fast. A simple sewer camera inspection can save you thousands of dollars and future inconvenience, not to mention the heartbreak of a sewer backup two weeks after move-in day. If you’re buying a home in Sacramento, especially in an older neighborhood, be sure to invest in a sewer line inspection. 

Ready to Downsize or Relocate? What Sellers in Carmichael, Fair Oaks, and Arden-Arcade Should Know...

If you’re a longtime homeowner in Carmichael, Fair Oaks, or Arden-Arcade, you’re not alone in thinking it might be time for a change. It seems that lately I have been chatting with several homeowners in these areas who are exploring the idea of downsizing or relocating -- whether it’s to be closer to adult kids (and let's be real -- it's the grandkids), to reduce maintenance (who wants to maintain that huge yard in retirement when you could travel instead?), cash-in on equity (many own free-and-clear), or simply live in a space that better fits their current lifestyle (who needs 4 bedrooms when it's just you?). 

I feel like these are repeating themes in conversations I am having...

These long-established neighborhoods are filled with charming ranch-style homes, known for their single-level layouts, large yards, and generous square footage. But as life evolves, a home that once felt “just right” can become a lot to manage. Here’s what you need to know if you’re thinking about making a move. 

• Your Home May Be Worth More Than You Think. These areas are in high demand with buyers looking for spacious lots, mature trees, mid-century character, and San Juan Unified Schools. I personally love ranch-style homes (I live in one myself), and they are abundant in these neighborhoods...many buyers want a home they can personalize. Even if your home hasn’t been updated recently, its location and layout may be incredibly appealing to today’s buyers — especially with the right preparation and pricing strategy. 

• Proposition 19 Could Save You Thousands in Property Taxes. One of the biggest concerns I hear from long-time homeowners is property tax -- spoiler alert: It's low if you have owned your home for a while. But thanks to California Proposition 19, if you're 55 or older, you can transfer your current low property tax base to a new home anywhere in California, even if the new home is more expensive. This is a game-changer if you’re considering a move but worried about your tax bill skyrocketing. 
• Highlights of Prop 19 for Sellers: 
• Available to homeowners 55+, those with severe disabilities, or victims of natural disasters. 
• You can transfer your tax base more than once. 
• Applies when buying any type of property in California (not just within your current county). 
• Must move within 2 years of the sale of your original home. 
• I'd strongly recommend chatting with your CPA or tax advisor...I can refer you to tax experts who specialize in Prop 19 scenarios. 

• Smart Updates Can Help Your Ranch-Style Home Shine. Ranch homes are timeless, but small touches can go a long way in helping them appeal to today’s buyers. Here’s where to focus if you want to maximize your sale price without doing a full renovation (and I have a full slate of resources to deploy to help you do this): 
• Pre-listing inspections are key, BEFORE doing any renovation. Sometimes just inspecting, disclosing, and selling "as-is"  makes way more sense than making repairs...every situation is different, so let's strategize which is best for you. 
• Enhance curb appeal: Trim landscaping, add fresh mulch, and paint the front door in a modern tone. 
• Open up sightlines: If feasible, thinning out some decor or furniture is best to help the home flow and feel more open. 
• Update lighting: Swapping out outdated fixtures for sleek, modern styles gives the entire home a lift. 
• Paint smart: Stick with neutral tones — think soft greiges, warm whites, or sage green — that complement mid-century ranch design. 
• Flooring counts: If you have old carpet, consider replacing it with vinyl plank or hardwood to highlight the open layout. I am often asked about having old carpets professionally cleaned -- this is often a HUGE mistake (if you do not want to replace flooring, usually it is best to leave it alone).
• These touches help buyers visualize the potential without overwhelming them with a big renovation project. 

• You're Not Just Selling a Home — You're Starting a New Chapter. Whether you’re thinking of a low-maintenance condo, a home closer to grandkids, the RV life, or retiring to a resort town, this transition should feel exciting — not stressful. I work with homeowners every day, and I try to make the process as simple as possible. Any my clients are all asking the same questions: “Should I sell as-is or do some updates first?” “Where do I even start with downsizing?” “How do I coordinate selling and buying at the same time?” I’m here to guide you every step of the way — from preparing your home for market to connecting you with downsizing resources, moving help, and trusted tax professionals. I also know other realtors all over the United States and can help connect you with one in the area where you would like to move.

Let’s Talk About Your Next Move. If you're considering selling your Carmichael, Fair Oaks, or Arden-Arcade home, let’s schedule a chat or in-person consultation. I’ll provide a market analysis, help you review your options under Proposition 19, and help you explore what downsizing or relocating might look like for you. 📞 Call/Text me at 916-342-1372 📧 Email: erin@erinstumpf.com 

Your next chapter might be closer than you think — and it starts with a conversation.

Earned a Certified Probate Real Estate Specialist (CPRES) designation

Not that I have loads of spare time, but as we are spending more time at home during the COVID19 pandemic, I have dedicated more time in 2020 to continuing education. While I have closed many probate estate transactions and already consider that to be an area of expertise, I recently earned a Certified Probate Real Estate Specialist (CPRES) designation. This additional education will be an asset as I assist estate personal representatives throughout Sacramento to sell properties that are in probate estates. 

Probate is a legal process through which the applicable county court verifies that a deceased person's assets are distributed according to the deceased's Will or via applicable law. Most people filing for probate need to connect with an attorney who specializes in estate law - I know several great ones if you need a referral.

It is an emotional time for any family, and a confusing path to navigate. Having an expert to help sell the real estate assets of a probate estate is really a key. 

This is a path I have traveled both personally and professionally. Not only have I sold many homes via probate processes, but I have also been the personal representative and administrator of my mom's probate estate when she passed away unexpectedly. 

I know first hand what the process is like from the inside out, and I try to smooth out the rough edges for my clients. 

New Listing - 640 Casmalia Way, Sacramento, CA 95864

Your home search is over! Lovingly maintained by the same owner for nearly 3 decades, this impeccable 2 bedroom / 2  bathroom, approximately 1,654sf Arden Park home is ready to be somebody's new beginning. You will love the spacious, open layout. Enter to find a sizable living room with a large sunny window that lets the outside in, wood floors, and a cozy fireplace with gas starter. Formal dining room with built-in storage bench and shelving. Remodeled kitchen with stainless appliances leads into a large family room. Two spacious hallway bedrooms with lots of closet space. Hallway bathroom has a separate tub and shower. Large bonus room with bathroom is great for a home office or possible 3rd bedroom. HUGE, park-like backyard has lots of sunny space to garden or play. Entertain guests on the expansive deck, or enjoy the perfect al fresco dining on a crisp evening. Composition roof, central HVAC, dual pane windows, attached garage. All this located near award-winning k-12 schools, parks, shopping & more. Don't wait! For more information and a 3D virtual tour visit 640 Casmalia Way, Sacramento, CA 95864.

Featured in a KCRA3 story about the federal tax reform proposal...

The new federal tax reform proposal was announced this week, and there are some major ramifications for homeowners if this passes in its current form. I was interviewed by KCRA 3 News specifically regarding the proposed cap on the Mortgage Interest Deduction (MID).

Under current tax law, homeowners may write off mortgage interest on mortgages up to $1,000,000. The new tax proposal seeks to reduce this to mortgages up to $500,000. So what's the big deal about this? California is a "high cost" state...While the current median home price for September 2017 in Sacramento County is $348,000, there are plenty of higher priced areas in and around Sacramento, such as Davis, El Dorado Hills, Granite Bay, East Sacramento, Land Park, Arden Park, Sierra Oaks, and others.

Additionally, the median home price for the entire state of California is $555,410. That means that more than half of all home sales in California are more than $555,410. That means that potentially more than half of all home sales in California may be affected by this cap and owners potentially will suffer some reduction of mortgage interest deductibility.

I would urge you to research the tax plan and ask your congressional representative to reconsider elements of the plan that may adversely affect homeownership. View the news story here.

Road Closures due to USGA Senior Open Golf Tournament in Sacramento

The California Highway Patrol would like to remind everyone who plans to drive this week in Sacramento near Marconi Avenue near the Del Paso Country Club; the following information pertains to the road closures due to the USGA Senior Open:

MARCONI AVENUE: 4 lanes CLOSED from Lacy Lane to Watt Ave. One lane OPEN eastbound for “Resident Traffic Only”

MORSE AVENUE: CLOSED (Resident Traffic Only) from Pope Ave. to Marconi Ave.

POPE AVENUE: CLOSED (Resident Traffic Only) from Morse Ave. to Watt Ave.

**All residents affected directly will receive hanging tags to display in their vehicles in order to access streets around their homes.

Sacramento County Sandbag Locations

In light of the "Stormageddon" that is apparently going to hit Sacramento tonight and tomorrow, it might be a good idea to get some sand bags to protect your home from water intrusion.

County Self-Service Sandbag Filling:
-  Sacramento County Branch Center, 3847 Branch Center Rd.
-  Sacramento Metro Fire Station #112, 6801 34th St. (North Highlands)
-  Orangevale Community Center, 6826 Hazel Ave.
-  Westside Park, 6555 West 2nd St. (Rio Linda)
-  Jose P. Rizal Community Center, 7320 Florin Mall Dr. (South Sacramento)
-  Sacramento Metro Fire Station #106, 2200 Park Towne Cir. (Arden Arcade)

These are open 24 hours a day, and you just need to bring your shovel. Sand & empty bags will be provided for residents to fill.

You decide: weird floating door in a Carmichael home...or entrance to the magical land of Narnia?

Take a good hard look at this photo. What do you see? Why yes, that is a 2nd level, floating door to no where. On the other side of the door on the exterior of the house is a decorative balcony that extends out a couple feet. Unless you put a ladder on the first floor below it, there is absolutely no way to access this door or the balcony.

This is in a new construction Carmichael home listed at well over a million dollars. Wow. I'm wondering what the original intent of this feature was, and why it turned into this? Needless to say, my buyer clients and I were not impressed. Moving on...

Do you have a Sacramento home to sell that one of my buyer clients might like?

And continuing with my buyer clients "wants and needs" series of blog posts -- here are what some of my buyer clients are looking for...are you (thinking about) selling a home that would meet any of these buyers' needs?

"Buyers A" are very well-qualified pre-approved first-time home buyers. They would like to live in Garden of the Gods or a nearby neighborhood in the Arden or Carmichael area. They are looking 3+ bedrooms, and 2+ bathrooms, decent closet and storage space, and a .15ac+ yard. Real hardwood flooring and a 2-car garage are both "must haves", and they do not mind something that needs updating. A large side yard or RV access would be a plus. Their max purchase price is $350,000.

"Buyer B" is a very well-qualified pre-approved investor buyer seeking a duplex. He ideally would like a property in the Citrus Heights, Arden, Carmichael, or nearby Sacramento areas. He would prefer 2+ bedrooms on each side and rents in the $800/month+ range for each unit. He is doing a 1031 Exchange. His max purchase price is $250,000.

"Buyers C" are very well-qualified pre-approved buyers. They ideally would like a newer or remodeled home in Arden Park, Carmichael, Land Park, East Sacramento or Pocket/Greenhaven. They would like 4+ bedrooms, and 3+ bathrooms, and 2,000sf or more. If a 2-story home, they must have a downstairs bedroom and bathroom. Their max purchase price is $750,000.

"Buyer D" is a cash buyer seeking a single family home, condo or half-plex.  He ideally would like home in the South Land Park, Hollywood Park, or Pocket/Greenhaven neighborhoods. He would like 2+ bedrooms, and 1+ bathrooms, and 1+car garage. A fixer or turn-key property would be ok. His max purchase price is $225,000.

If you own a home that seems to meet any of this criteria and are thinking about selling (or know someone who is), please contact me -- I may have a buyer for your home! If you need to do a short sale, I can certainly facilitate that as well, and am happy to talk to you to see if we are a good fit to work together.

On another note, I am working with numerous other buyers who are looking for homes in several other Sacramento area neighborhoods -- please contact me if you would like more details, and look for future posts.

New Listing - 1121 Mariemont Avenue, Sacramento, CA 95864

Elegant "Cape Cod" style estate in a secluded private setting. This lovely home near Arden Park Vista is 5-6 bedrooms, 6.5 bathrooms, 8,467sf on 1.5 acres.You will love the high coved box-beam ceilings, gourmet kitchen w/secondary prep kitchen, large pantry. Master suite w/separate jetted tub & multi-head shower. Hallway bedrooms have attached bathrooms & separate living area. Upstairs library/home office w/bathroom & deck. Remote bedroom & bathroom w/separate entrance. Custom lighting & woodwork throughout. Lush landscape, gardens, park-like yard, RV access. Amazing home for entertaining. Don't wait! Offered at $1,999,900. For more photos and detail, visit 1121 Mariemont Avenue, Sacramento, CA 95864.

Sacramento County -- now offering neighborhood waste clean-up by appointment!

Is extra junk piling up in your house? Do you need to do a little spring cleaning, but don't want to spend your money on having a dumpster delivered to your house, or making a trip to the dump? Do you live within the unincorporated County of Sacramento jurisdiction? You're in luck! The Department of Waste Management and Recycling has a program where they come to their customer’s home in Sacramento County at no charge.  The ‘Bulky Item Pick Up’ is by appointment only, but is easy to do.  Customers can call (916) 875-5555 or go online to the Waste Management and Recycling website, and set up an appointment date.  Customers can use this service at no cost once every calendar year. The no charge pick up includes an 8’ x 4’ x 4’pile; larger piles can be arranged for an extra charge depending on the size.

Neighborhoods within the unincorporated County of Sacramento area include Antelope, Arden, Arden Park, Carmichael, Fair Oaks, Orangevale, Elverta, parts of Sierra Oaks, Rosemont, and parts of South Sacramento, etc.

If you fall within the incorporated city areas (City of Sacramento, Natomas area, Citrus Heights, Folsom, Rancho Cordova, Galt, Elk Grove)...this program is not for your areas.

Truly a "groovey" Arden Park home....

Hmm...was wallpaper on the ceiling a 'groovey' thing back in the 1970's? I toured a home in Arden Park today that not only was cluttered beyond belief, but had wallpaper throughout and on the ceiling in this bedroom. What's sad is this seller is leaving money on the table. By not at the very least cleaning it out, they will turn-off potential buyers who can't see around the mess to the full potential of the home. They will not get the top value for the home because it will ultimately sell for less than what it could sell for cleaned up. Having a dumpster delivered is just a few hundred dollars...or often times many charities will come pick-up usable items.

Bank of America -- no longer will delay foreclosure for a "Cooperative Short Sale"...

Just received this notification via email from Bank of America regarding their "Cooperative Short Sales" program:

"As of January 15, 2013, there will no longer be a temporary foreclosure hold during the Cooperative Short Sale property marketing phase. We may begin or continue the foreclosure process up until a submitted offer to purchase the property is approved by all relevant parties.  Any existing short sale will not be impacted by this change."

So, again, I can't emphasize to you enough that anyone considering a short sale should be pro-active and do not wait until the last minute (like once a Notice of Trustee Sale has been taped to your front door) to start your short sale. Bank of America will not delay a foreclosure in order for a short sale seller to start the process and market the home.

Trulia affirms that it is less expensive to buy your home in Sacramento!

Trulia says in Sacramento it is more affordable to buy a home vs rent.

Well, I suppose the words "I told you so" may be fitting today? Last week, the real estate website Trulia put out a study on real estate markets where buying a home is more cost effective (aka, cheaper!) than renting a home. Sacramento ranked well on the purchase affordability scale.

Nearly 2.5 months ago, I did my own little study on the cost of renting a Sacramento home vs the cost of buying a home in a few different neighborhoods (Natomas - 95833, 95834, 95835; Elk Grove / Laguna - 95757, 95758; Rosemont / College Greens -- 95826, 95827; Arden - 95821, 95825, 95864; Carmichael / Fair Oaks - 95608, 95628; Citrus Heights / Orangevale - 95610, 95621, 95662; and South Land Park / Pocket/Greenhaven - 95822, 95831) in the Sacramento area. My findings were consistent with Trulia's findings...

Want notifications of the latest listings emailed to you? Visit http://www.sachomelist.com/id2.html...

Is your Sacramento Sewer Line made of Orangeberg?

I have said it before, and I will say it again. If you are purchasing an older home in Sacramento, it is extremely important to inspect the sewer line. This photo is from a sewer inspection performed one of my buyer clients had performed on a house in the Woodlake neighborhood that was built in 1946. The sewer line is made of Orangeberg pipe which over time breaks down and is susceptible to root penetration.

How much sewage do you think can pass by this obstruction before the line backs up during your housewarming party after 19 of your closest friends flush the toilet and you run the dishwasher? Ewwww....

It's best to inspect for this condition during your "buyer investigation" period that is set forth in your purchase agreement. Often times the buyer can negotiate with the seller to have this condition corrected prior to the close of escrow.

Hmm...the Million Dollar Question - should your rent or buy your home in Sacramento?

I have been speaking with a lot of prospective first time buyers lately, and it seems that the overall sentiment among them is that it has become more affordable to buy a home than rent a home. In many areas and under many circumstances, I believe this to be true. When you take into consideration the average home price and probable monthly mortgage payment in particular Sacramento neighborhoods vs. the average rent, often times the mortgage payment is less. Let's take a look at a few different areas...just for the sake of citing my information sources, for average home price (used to calculate mortgage payment scenarios) I am using most recent January 2011 Trendgraphix data which is taken directly from MLS, and for average rent I am using the most recent Q1 2011 Homepointe Quarterly Residential Rental Survey. For my mortgage payment calculations, I am basing it on a 5% interest rate (which is actually above today's average market interest rates), and including the full PITI - loan principle, interest, monthly property taxes, and monthly homeowner's insurance (and mortgage insurance where applicable).

Natomas - 95833, 95834, 95835
Average single family home sale price: $199,000
Average rent for a 3 bedroom home: $1,361
30-Year Fixed VA Loan (Zero downpayment): $1,357
30-Year Fixed FHA Loan (3.5% downpayment): $1,451
30-Year Fixed Conventional Loan (10% downpayment): $1,319
30-Year Fixed Conventional Loan (20% downpayment): $1,120

Elk Grove / Laguna - 95757, 95758
Average single family home sale price: $223,000
Average rent for a 3 bedroom home: $1,392
30-Year Fixed VA Loan (Zero downpayment): $1,627
30-Year Fixed FHA Loan (3.5% downpayment): $1,400
30-Year Fixed Conventional Loan (10% downpayment): $1,478
30-Year Fixed Conventional Loan (20% downpayment): $1,255

Rosemont / College Greens - 95826, 95827
Average single family home sale price: $147,000
Average rent for a 3 bedroom home: $1,230
30-Year Fixed VA Loan (Zero downpayment): $1,002
30-Year Fixed FHA Loan (3.5% downpayment): $1,072
30-Year Fixed Conventional Loan (10% downpayment): $975
30-Year Fixed Conventional Loan (20% downpayment): $827

Arden - 95821, 95825, 95864
Average single family home sale price: $207,000
Average rent for a 3 bedroom home: $1,226
30-Year Fixed VA Loan (Zero downpayment): $1,411
30-Year Fixed FHA Loan (3.5% downpayment): $1,510
30-Year Fixed Conventional Loan (10% downpayment): $1,372
30-Year Fixed Conventional Loan (20% downpayment): $1,165

Carmichael, Fair Oaks - 95608, 95628
Average single family home sale price: $246,000
Average rent for a 3 bedroom home: $1,360
30-Year Fixed VA Loan (Zero downpayment): $1,677
30-Year Fixed FHA Loan (3.5% downpayment): $1,795
30-Year Fixed Conventional Loan (10% downpayment): $1,631
30-Year Fixed Conventional Loan (20% downpayment): $1,384

Citrus Heights, Orangevale - 95610, 95621, 95662
Average single family home sale price: $179,000
Average rent for a 3 bedroom home: $1,293
30-Year Fixed VA Loan (Zero downpayment): $1,220
30-Year Fixed FHA Loan (3.5% downpayment): $1,306
30-Year Fixed Conventional Loan (10% downpayment): $1,187
30-Year Fixed Conventional Loan (20% downpayment): $1,007

South Land Park, Pocket / Greenhaven - 95822, 95831
Average single family home sale price: $189,000
Average rent for a 3 bedroom home: $1,240
30-Year Fixed VA Loan (Zero downpayment): $1,288
30-Year Fixed FHA Loan (3.5% downpayment): $1,379
30-Year Fixed Conventional Loan (10% downpayment): $1,253
30-Year Fixed Conventional Loan (20% downpayment): $1,064

Obviously there are other tangible and intangible benefits to home ownership as well...for example, a tangible benefit is the fact you can write-off your mortgage interest on your income taxes, and also deduct some other related expenses each year. An intangible benefit might be that as a homeowner, you have the freedom to paint the walls, decorate, plant a garden, remodel, etc.

So clearly these numbers are just a baseline to give you an idea of housing affordability in certain areas. You definitely need to consult a loan officer to see what type of financing is the best fit for you, and ultimately just how much you can afford - and there are several variables that will affect your interest rate and terms. You should also speak with a CPA or qualified tax professional regarding the mortgage interest and other tax deductions to see how it will affect your particular situation. If you need a good referral to either one, feel free to contact me and I can put you in touch.

Erin's Sacramento Short Sale Experiment, Part VII

Yes, it is time for my seventh installment of Erin's Sacramento Short Sale Experiment! I am sure ya'll are just on the edge of your seats to find out just what has transpired in the world of short sales in our Sacramento metro area since the last time? I am anxious to see if 2011 continues to bring a high volume of active short sale listings, and more importantly, more closed short sales. For those of you not following along at home, or perhaps if you are reading this for the first time, my short sale experiment is tracking a few different Sacramento zip codes to see what how the short sale activity increases or decreases over time as compared with traditional resale listings (where there is a seller with equity in a "normal transaction") and to bank-owned resale transactions. My hypothesis at the start of this experiment: the number of short sales will grow over time, as will their dominance in our greater Sacramento marketplace (overall percentage of listings). I have continued to list more short sale properties, and thus far I think my hypothesis has been proven to be true. Starting in this installment, just for kicks and for the sake of comparison, I am going to track the numbers of active Foreclosure / REO listings. Let's see how this new data compares to the "control data" for the experiment and also to last installment...

95624 is the section of Elk Grove closest to Hwy 99. As of right this second according to MLS, there are a total of 354 active listings there. 231/354 listings are short sales. The median price in that zip code in December 2010 was $244,000 according to Trendgraphix. The result vs. the control data? Control data was 68.6% of all active listings in 95624 were short sales, vs. 71.9% last installment, vs. 65.3% this month. DECREASE over the control data, and a decrease over last installment. Number of 2010 closed short sales - 312. YTD closed in 2011 - 9....Active Foreclosure / REO listings - 60.

95610 is a section of Citrus Heights. As of right this second according to MLS, there are a total of 232 active listings there. 126/232 listings are short sales. The median price in that zip code in December 2010 was $164,000 according to Trendgraphix. The result vs. the control data? Control data was 60.3% of all active listings in 95610 were short sales, vs. 64.0% last installment, vs. 54.3% this month. DECREASE over the control data, and a decrease over last installment. Number of 2010 closed short sales - 109. YTD closed in 2011 - 1....Active Foreclosure / REO listings - 57.

95826 is a section of Rosemont and College Greens. As of right this second according to MLS, there are a total of 143 active listings there. 73/143 listings are short sales. The median price in that zip code in December 2010 was also $161,000 according to Trendgraphix. The result vs. the control data? Control data was 62.2% of all active listings in 95826 were short sales, vs. 51.5% last installment, vs. 51.0% this month = DECREASE over the control data. Number of 2010 closed short sales - 57. YTD closed in 2011 - 1....Active Foreclosure / REO listings - 36.

95864 is a section of Sierra Oaks, Arden Park, and Arden Manor. As of right this second according to MLS, there are a total of 134 active listings there. 57/134 listings are short sales. The median price in that zip code in December 2010 was $248,000 according to Trendgraphix. The result vs. the control data? Control data was 17.0% of all active listings in 95864 were short sales, vs. 29.7% last installment, vs. 42.5% this month. BIG INCREASE over the control data and last month. Number of 2010 closed short sales - 37. YTD closed in 2011 - 0....Active Foreclosure / REO listings - 12.

95818 is a section of Midtown, Land Park, and Curtis Park. As of right this second according to MLS, there are a total of 87 active listings there. 24/87 listings are short sales. The median price in that zip code in December 2010 was $307,000 according to Trendgraphix. The result vs. the control data? Control data was 16.0% of all active listings in 95818 were short sales, vs. 16.9% last installment, vs. 27.6% this month. INCREASE over the control data, and increase over the last installment. Number of 2010 closed short sales - 23. YTD closed in 2011 - 0....Active Foreclosure / REO listings - 6.

95819 is a section of East Sacramento. As of right this second according to MLS, there are a total of 78 active listings there. 18/78 listings are short sales. The median price in that zip code in December 2010 was $391,000 according to Trendgraphix. The result vs. the control data? Control data was 19.7% of all active listings in 95819 were short sales, vs. 21.1% last month, vs. 23.1 this month. INCREASE over the control data, and over the last installment. Number of 2010 closed short sales - 15. YTD closed in 2011 - 0....Active Foreclosure / REO listings - 6.

So in summary - of the six Sacramento area zip codes I am tracking for my experiment, 3 of them experienced a decrease in the number of active short sale listings from last installment, while 3 experienced an increase over the control data...interesting. It appears that areas with higher median sales prices are starting to show an increase in short sale activity, while the areas with the lower median prices are showing a decrease in short sale activity. AND while I have not specifically been tracking this data, it appears that there are an increasing number of Foreclosure / REO listings on the market. Since I just started tracking that statistic for this little project, we will have to see how those numbers compare in the future. My phone definitely keeps ringing and I continue to receive emails - I am fielding lots of inquiries from homeowners looking for more information and insight from my short sale experience...buyers too are really curious about the short sale process since they are encountering so many short sale listings in our marketplace. Also (you will be aware of this if you follow me on Twitter or Facebook), I closed many of my own short sale listings since the last installment of Erin's Sacramento Short Sale Experiment...until next time!

Erin's Sacramento Short Sale Experiment, Part I
Erin's Sacramento Short Sale Experiment, Part II
Erin's Sacramento Short Sale Experiment, Part III
Erin's Sacramento Short Sale Experiment, Part IV
Erin's Sacramento Short Sale Experiment, Part V
Erin's Sacramento Short Sale Experiment, Part VI

Erin's Sacramento Short Sale Experiment, Part VI

Yes, it is for my sixth installment of Erin's Sacramento Short Sale Experiment! I am sure ya'll are just on the edge of your seats to find out just what has transpired in the world of short sales in our Sacramento metro area since the last time? I am anxious to see if 2010 continues to bring a high volume of active short sale listings, and more importantly, more closed short sales. For those of you not following along at home, or perhaps if you are reading this for the first time, my short sale experiment is tracking a few different Sacramento zip codes to see what how the short sale activity increases or decreases over time as compared with traditional resale listings (where there is a seller with equity in a "normal transaction") and to bank-owned resale transactions. My hypothesis at the start of this experiment: the number of short sales will grow over time, as will their dominance in our greater Sacramento marketplace (overall percentage of listings). I have continued to list more short sale properties, and thus far I think my hypothesis has been proven to be true. Let's see how this new data compares to the "control data" for the experiment and also to last installment...

95624 is the section of Elk Grove closest to Hwy 99. As of right this second according to MLS, there are a total of 342 active listings there. 246/342 listings are short sales. The median price in that zip code in February 2010 was $235,000 according to Trendgraphix (a decrease over last installment). The result vs. the control data? Control data was 68.6% of all active listings in 95624 were short sales, vs. 75.1% last installment, vs. 71.9% this month. INCREASE over the control data, and a decrease over last installment. Number of 2009 closed short sales - 245. YTD closed in 2010 - 56.

95610 is a section of Citrus Heights. As of right this second according to MLS, there are a total of 175 active listings there. 112/175 listings are short sales. The median price in that zip code in February 2010 was $171,000 according to Trendgraphix (a significant decrease over last installment). The result vs. the control data? Control data was 60.3% of all active listings in 95610 were short sales, vs. 68.2% last installment, vs. 64.0% this month. INCREASE over the control data, and a decrease over last installment. Number of 2009 closed short sales - 85. YTD closed in 2010 - 16.

95826 is a section of Rosemont and College Greens. As of right this second according to MLS, there are a total of 136 active listings there. 70/136 listings are short sales. The median price in that zip code in February 2009 was also $170,000 according to Trendgraphix (a decrease from last installment). The result vs. the control data? Control data was 62.2% of all active listings in 95826 were short sales, vs. 59.5% last installment, vs. 51.5% this month = BIG DECREASE over the control data. Number of 2009 closed short sales - 65. YTD closed in 2010 - 20.

95864 is a section of Sierra Oaks, Arden Park, and Arden Manor. As of right this second according to MLS, there are a total of 165 active listings there. 49/165 listings are short sales. The median price in that zip code in February 2010 was $214,000 according to Trendgraphix (a big decrease over last installment). The result vs. the control data? Control data was 17.0% of all active listings in 95864 were short sales, vs. 29.3% last installment, vs. 29.7% this month. INCREASE over the control data and last month. Number of 2009 closed short sales - 18. YTD closed in 2010 - 5.

95818 is a section of Midtown, Land Park, and Curtis Park. As of right this second according to MLS, there are a total of 77 active listings there. 13/77 listings are short sales. The median price in that zip code in February 2010 was $330,000 according to Trendgraphix (big decrease over last installment). The result vs. the control data? Control data was 16.0% of all active listings in 95818 were short sales, vs. 25.9% last installment, vs. 16.9% this month. INCREASE over the control data, and a slight increase over the last installment. Number of 2009 closed short sales - 15. YTD closed in 2010 - 4.

95819 is a section of East Sacramento. As of right this second according to MLS, there are a total of 71 active listings there. 15/71 listings are short sales. The median price in that zip code in February 2010 was $339,000 according to Trendgraphix (a increase over last installment). The result vs. the control data? Control data was 19.7% of all active listings in 95819 were short sales, vs. 21.1% last month, vs. 21.1 this month. INCREASE over the control data, but a no change over last installment. Number of 2009 closed short sales - 11. YTD closed in 2010 - 0.

So in summary - of the six Sacramento area zip codes I am tracking for my experiment, 5 of them experienced a decrease in the number of active short sale listings from last installment, while 5 experienced an increase over the control data...interesting. Unfortunately, I do not think that this incremental decrease from last installment will continue as a ongoing trend. My phone definitely keeps ringing and I continue to receive emails - I am fielding lots of inquiries from homeowners looking for more information and insight from my short sale experience...buyers too are really curious about the short sale process since they are encountering so many short sale listings in our marketplace. Also (you will be aware of this if you follow me on Twitter or Facebook), I closed many of my own short sale listings since the last installment of Erin's Sacramento Short Sale Experiment....and I have been the top listing agent in my office for two months in a row (January & February). Until next time!

Erin's Sacramento Short Sale Experiment, Part I
Erin's Sacramento Short Sale Experiment, Part II
Erin's Sacramento Short Sale Experiment, Part III
Erin's Sacramento Short Sale Experiment, Part IV
Erin's Sacramento Short Sale Experiment, Part V

Erin's Sacramento Short Sale Experiment, Part V

Time for my fifth installment of Erin's Sacramento Short Sale Experiment! I am sure ya'll are just on the edge of your seats to find out just what has transpired in the world of short sales in our Sacramento metro area since the last time? I have deliberately allowed more time to pass between Part IV and Part V, so that we can see if a trend has truly emerged and also see what the YTD totals for 2009 are. For those of you not following along at home, or perhaps if you are reading this for the first time, my short sale experiment is tracking a few different Sacramento zip codes to see what how the short sale activity increases or decreases over time as compared with traditional resale listings (where there is a seller with equity in a "normal transaction") and to bank-owned resale transactions. My hypothesis at the start of this experiment: the number of short sales will grow over time, as will their dominance in our greater Sacramento marketplace (overall percentage of listings). I have continued to list more short sale properties. Let's see how this new data compares to the "control data" for the experiment and also to last month...

95624 is the section of Elk Grove closest to Hwy 99. As of right this second according to MLS, there are a total of 325 active listings there. 244/325 listings are short sales. The median price in that zip code in December 2009 was $245,000 according to Trendgraphix (an increase over last installment). The result vs. the control data? Control data was 68.6% of all active listings in 95624 were short sales, vs. 68.3% last installment, vs. 75.1% this month. BIG INCREASE over the control data, and a more significant increase over last installment. Number of 2009 closed short sales - 245.

95610 is a section of Citrus Heights. As of right this second according to MLS, there are a total of 170 active listings there. 116/170 listings are short sales. The median price in that zip code in December 2009 was $196,000 according to Trendgraphix (a significant decrease over last installment). The result vs. the control data? Control data was 60.3% of all active listings in 95610 were short sales, vs. 67.3% last installment, vs. 68.2% this month. BIG INCREASE over the control data, and a slight increase over last installment. Number of 2009 closed short sales - 85.

95826 is a section of Rosemont and College Greens. As of right this second according to MLS, there are a total of 121 active listings there. 72/121 listings are short sales. The median price in that zip code in October 2009 was also $181,000 according to Trendgraphix (a decrease from last installment). The result vs. the control data? Control data was 62.2% of all active listings in 95826 were short sales, vs. 74.1% last installment, vs. 59.5% this month = BIG DECREASE. Number of 2009 closed short sales - 65.

95864 is a section of Sierra Oaks, Arden Park, and Arden Manor. As of right this second according to MLS, there are a total of 140 active listings there. 41/140 listings are short sales. The median price in that zip code in December 2009 was $451,000 according to Trendgraphix (a big increase over last installment). The result vs. the control data? Control data was 17.0% of all active listings in 95864 were short sales, vs. 25.8% last installment, vs. 29.3% this month. BIG INCREASE. Number of 2009 closed short sales - 18.

95818 is a section of Midtown, Land Park, and Curtis Park. As of right this second according to MLS, there are a total of 54 active listings there. 14/54 listings are short sales. The median price in that zip code in December 2009 was $424,000 according to Trendgraphix (big increase over last installment). The result vs. the control data? Control data was 16.0% of all active listings in 95818 were short sales, vs. 25.0% last installment, vs. 25.9% this month. BIG INCREASE over the control data, and a slight increase over the last installment. Number of 2009 closed short sales - 15.

95819 is a section of East Sacramento. As of right this second according to MLS, there are a total of 57 active listings there. 12/57 listings are short sales. The median price in that zip code in December 2009 was $310,000 according to Trendgraphix (a decrease over last installment). The result vs. the control data? Control data was 19.7% of all active listings in 95819 were short sales, vs. 22.6% last month, vs. 21.1 this month. Still a BIG INCREASE over the control data, but a slight decrease over last installment. Number of 2009 closed short sales - 11.

So in summary - of the six Sacramento area zip codes I am tracking for my experiment, 4 of them experienced an increase in the number of active short sale listings from last installment, while 5 experienced an increase over the control data...the majority of the zip codes posted pretty large proportional increases, and the one decreasing zip code I am tracking posted a huge proportional decrease. My phone definitely keeps ringing and I continue to receive emails - I am fielding lots of inquiries from homeowners looking for more information and insight from my short sale experience...buyers too are really curious about the short sale process since they are encountering so many short sale listings in our marketplace. Also (you will be aware of this if you follow me on Twitter or Facebook), I closed many of my own short sale listings since the last installment of Erin's Sacramento Short Sale Experiment...in fact I closed an Arden short sale last week, and I have another Sacramento short sale closing next week. Until next time!

Erin's Sacramento Short Sale Experiment, Part I
Erin's Sacramento Short Sale Experiment, Part II
Erin's Sacramento Short Sale Experiment, Part III
Erin's Sacramento Short Sale Experiment, Part IV