New Listing - 2116 Marshall Way, Sacramento, CA 95818

Stunning 3 bedroom, 1 bathroom, 1428sf Curtis Park Bungalow! You'll love the classic features and modern amenities in this painstakingly maintained property. From the curb, you'll admire the expansive front porch. Enter to find a formal living room featuring an elegant fireplace with a gas insert, wood floors, and built-in shelving. Large formal dining room has a charming built-in hutch. Refine your culinary skill in the remodeled kitchen with under-cabinet lighting, granite counters, full backsplash, and breakfast nook. Large bedrooms. Luxurious bathroom has a tub/shower with dual heads, glass shower doors and skylight. Backyard is a serene, private retreat perfect for entertaining and dining al-fresco. Abundant energy efficiency with owned solar, electric vehicle charger, and tankless water heater. Central heat and air. Large basement. Storage shed for all your toys! Pest clearance, new sewer line, 2-year roof cert. Located a hop skip and a jump to public transportation, restaurants, bakeries, shopping, parks, and schools. Don't wait! Offered at $799,900. For more photos, detail and a 3D virtual tour, visit 2116 Marshall Way, Sacramento, CA 95818.

Do you have a home for these buyers?

Do you have a home for any of these buyers? With the current lack of real estate inventory in our local Sacramento region, I thought that perhaps I would send this out to the universe with the hopes that someone thinking about selling might notice that I have a home buyer looking for a home that sounds like theirs. So with that, here is a list of my buyer clients, their price ranges, and basic search criteria. If you are thinking about selling a home or know someone who wants to sell their home who has something like any of these, please do not hesitate to reach out to me - 916-342-1372 or erin@erinstumpf.com. I am happy to see if my clients are a fit for your home and explore next steps, or help you strategize preparing your home for sale.

Buyer A: Carmichael, Fair Oaks, Orangevale - this buyer is looking for a minimum of 3 bedrooms, 2 bathrooms, and about 1500sf, and would ideally prefer 4 bedrooms or a separate living and family room where they can have a home office. They prefer something that needs a little updating and are not scared by a fixer property. They'd love a larger lot (like more than 0.20ac or 8,700sf or so). They would also love a pool but that is not a deal-breaker. They are well-qualified for a conventional loan up to about $450,000.

Buyer B: Arden/Arcade, Carmichael - this buyer is looking for a single level 3 bedroom, 2 bathroom home under 2,000sf that is nicely remodeled. Specifically they want a remodeled kitchen that opens to the living space. They specifically do not want a swimming pool. They'd love a lot that already has a shed/workshop or space to build one. They are well-qualified for a conventional loan up to about $650,000.

Buyer C: Pocket/Greenhaven, South Land Park, Natomas (if Natomas, along the Garden Hwy Corridor) - this buyer is looking for a 3 bedroom, 2 bathroom home that is above 1500sf. They do not mind something that needs a little updating, but would also love something updated and turn key. They would love a pool, but a pool-sized yard that can accommodate a pool later works too. They are well-qualified for a conventional loan up to about $580,000. They could go higher for the right house if given the opportunity to sell their home first.

Buyer D: Carmichael/Del Dayo - this buyer is specifically looking for the Del Dayo neighborhood or very close to it, to be within the school boundaries of Del Dayo Elementary. They are looking for a minimum of 3 bedrooms, 2 bathrooms, 1600sf, and would love a built-in pool or a pool-sized yard that can accommodate a future pool. They do not mind a fixer. They are well-qualified for a conventional loan up to about $675,000.

Buyer E: Fair Oaks - this buyer is looking for a 4 bedroom, 2 bathroom, minimum of 1600sf, on a large lot (like more than 0.20ac or 8,700sf or so) with a built-in pool. Ideally this home would be situated in a somewhat private/quiet setting. They are well-qualified for a conventional loan up to about $725,000

Buyer F: Land Park, Curtis Park, Oak Park - this buyer is looking for a multi-family property. Ideally this property would be two detached units on one lot (home and an accessory dwelling unit, or two houses on one lot). They might also consider a duplex if perhaps situated on a corner lot where the entrances are separate or there are minimal shared/common walls. This buyer needs a at least one of the units to be vacant and to have 2 bedrooms to owner-occupy it. They are well-qualified for a conventional loan up to about $800,000. 

Buyer G: West Sacramento/Southport - this buyer is looking for a home in the Bridgeway Lakes community that is 4 bedrooms, 3  bathrooms, and 2700sf or more. They are well-qualified for a conventional loan up to about $650,000.

Buyer H: Midtown, Land Park, East Sacramento - this buyer is looking for a single level home with at least 2 full bathrooms. They prefer a fixer and are not scared of something that needs a significant amount of work. They are all cash buyers looking up to about $800,000.

Buyer I: Davis, Woodland, West Sacramento - this buyer is looking for a newer construction home (built within the last 20 years) of at least 3 bedrooms, 2 bathrooms, and 1500sf. They prefer a single family home, however in Davis they are also considering townhomes and condos. They are well qualified for a conventional loan up to $500,000.

Buyer J: Davis, El Macero - this buyer is looking for a minimum 5 bedroom, 3 bathroom, 2,000sf home. They do not want a home built more than 50 years ago. They are doing a 1031 Exchange and the minimum purchase price must be about $800,000, and they can spend up to about $1.2M.

Buyer K: Midtown, East Sacramento - this buyer is looking for a 2 bedroom, 1 bathroom home or condo and would like to be a reasonable walking distance to the state Capitol and surrounding area. They are well-qualified for a conventional loan up to about $500,000.

Buyer L: Midtown, Downtown - this buyer is looking for a 3+ bedroom, 2+ bathroom, 2,000sf+ home on the grid that is within a short distance to the state Capitol, restaurants, shops, etc. Ideally it is a higher density home or condo that is newer construction or significantly remodeled. It must have a garage and at least a small ground-level patio yard. They are well-qualified for a conventional loan up to about $1M.

Buyer M: East Sacramento, Sierra Oaks - this buyer is looking for a 4 bedroom, 3 bathroom, 2,400sf+ home that is newer construction or substantially remodeled. It is either within close proximity to UC Davis Medical Center or to Country Day School. They are well-qualified up to $1.5M.

Sacramento City Council approves a temporary moratorium on tenant evictions relating to hardships caused by COVID-19

Our local elected leaders, responding to calls from tenant advocates to provide relief to renters experiencing hardship related to our current public health situation, enacted an ordinance aimed at preventing renter displacement.

Last night, the Sacramento City Council approved a temporary moratorium on tenant evictions relating specifically to COVID-19. Keep in mind, this applies to all residential rental units within the city limits of the City of Sacramento.

Details of the new ordinance:

• Effective Immediately, but not retroactively applied if tenant was already delinquent in rent
• Moratorium applies to evictions due to nonpayment of rent due to COVID-19
• Tenant was sick or caring for COVID-19 family member 
• Tenant experience layoff or other income reduction associated with COVID-19 
• Tenant’s compliance with a recommendation from a government agency to stay home, self-quarantine, or avoid congregating 
• Tenant needed to miss work to care for a home-bound school-aged child 
• Tenant must do all of the following: 
• Notify landlord in writing before rent is due that the tenant has a valid reason for delayed payment 
• Provide verifiable documentation of a covered reason 
• Pay the portion of rent the tenant is able to pay 
• Tenant has 120 days after the termination of the Sacramento County public health emergency order to pay landlord all unpaid rent. 
• Landlord and Tenant may voluntarily agree to an alternate timeline for payment of rent due in arrears. 

Here is a link to a Delay in Payment Notification Form provided by the City of Sacramento.

The County of Sacramento has not taken similar action as of now, nor have the other cities within Sacramento County.

New Listing - 3017 9th Avenue, Sacramento, CA 95817

Adorable 2 bedrooms+loft, 2 bathroom, 1,400sf home near Curtis Park! You will love the light and bright spacious, open layout, cute kitchen opens to the dining area and living room, inside laundry, laminate flooring, big bedrooms, master suite opens to backyard, and huge upper loft/possible 3rd bedroom! Deep lot offers lots of sunny spaces to play or garden. Newer central heat and air, newer roof, attached 2-car attached garage. Short distance to Curtis Park, Sac City College, K-12 schools, fun shops and restaurants. Don't wait! Offered at $349,000. For more photos and a 3D virtual tour, visit 3017 9th Avenue, Sacramento, CA 95817.

I was featured on the news...Squatters are becoming more common in Sacramento...

It seems like "squatters" have become an issue again. For several years during the housing crash, as many homes sat vacant they were prone to vandalism and break-in. It was not uncommon to encounter people squatting in homes. When values started to go up again and there were not as many vacant properties, it seemed like squatters became less of a problem. Fast forward to today, and squatters seem to be an issue again.

What is a squatter? A squatter is someone who unlawfully enters into a property and stays there without permission from the owner. It is a crime of opportunity, as well as the fact I do think that with the proliferation of smart phone devices squatters can search MLS for vacant property to target.

I encountered squatters at one of my vacant Midtown Sacramento duplex listings a few months ago. I approached the property to install a carbon monoxide detector, and noticed a shopping cart near the front porch. As I got closer I could hear voices inside and footsteps echoing off the hardwood floors. I immediately called the police. Before the 9-1-1 operator could take my information, a police car drove by and I flagged him down. Luckily those squatters did little damage and probably had not been there too long.

I just represented buyers on another Curtis Park triplex property that was broken into and torn apart by squatters. That property was the subject of an ABC Channel 10 news story by John Bartell. You can watch the news story here. Luckily I was able to negotiate a price reduction on the property once we got a full understanding of the extent of the damage, which in this case was extensive. All three HVAC units were stolen. Holes were punched in the walls. All of the copper plumbing and wiring was removed. It was bad.

How can you as a home seller prevent squatters? I highly suggest if you have a vacant property that you give it the appearance that it is occupied. Park a car in the driveway, or ask a neighbor to do so. Make sure your windows have blinds or curtains so people can not see inside. Put a lamp with a plug-in light timer in a few rooms that is set to go on and off during the evening. Keep the grass and landscape trimmed. Make sure you suspend mail so your mailbox does not overflow. Same with the newspaper. Set your alarm and spring for month-to-month monitoring services. Make sure your neighbors are aware the property is vacant and let them know to alert you to any suspicious activity.

A little vigilance goes a long way.

New Listing - 3052 8th Avenue, Sacramento (Curtis Park area), CA 95817

Adorable 3 bedroom, 2 bathroom, 1,148sf home on a deep lot near Curtis Park in Sacramento! You will love the spacious layout with vaulted ceilings, remodeled kitchen with maple cabinets, stainless appliances, and granite counters. New engineered hardwood flooring in the living areas, new carpet in the bedrooms, and freshly painted interior. Huge backyard is a great blank canvas for your landscaping creativity. Newer central heat and air, newer water heater (both replaced in 2014), and attached garage. Close proximity to the park, schools, fun shops, great eateries, and more! Don't wait! Offered at $364,900. Subject to seller's 1031 Exchange (at no cost to buyer). For more photos and information, please visit 3052 8th Avenue, Sacramento, CA 95817.

Do you want a pot dispensary in your Sacramento neighborhood?

Do you live in or near Land Park, Curtis Park, or Hollywood Park? If you follow me on Facebook, then you will already know that the Sacramento Community Development Department has received an application to open a marijuana dispensary at 2216 Sutterville Road, right across from Sacramento City College. I urge anyone who is interested in weighing in on this proposed addition to the neighborhood to call Remi Mendoza with City Planning asap, before 4/25/14 at 916-808-5003 or via email at RMendoza@cityofsacramento.org or your city councilman and tell them your thoughts. I did this morning, and Remi "logged my comments in his staff report." There will likely be a public hearing sometime in the future.

2013 Curtis Park Summer Concert Series is starting this month!

The first show for the 2013 Curtis Park Summer Concert Series is coming up! This year they will be held on the last Sunday of June (the 30th), July (the 28th) and August (the 25th). Music in the Park is a free and takes place in the evenings at the north end of Curtis Park -- think where 26th Street dead-ends into the park. I love this series. It is so relaxing! I usually bring a picnic, blanket, and some canvas chairs.

It's time for A Taste of Land Park!

It's time for A Taste of Land Park again! I can't believe this is the 12th annual event...I must be getting old! the 2013 event will be on Sunday, June 9th, from 4pm - 7pm. There is a VIP hour from 3pm - 4pm for members of the Land Park Community Association. This year's event will be located on 14th Street between Vallejo Way and Markham Way.


View Larger Map
As usual, there will be several local restaurants, breweries, wineries, and more serving great food and drink! There will be a "Wall of Wine", local craft vendors, and live music as well!

Pre-sale tickets are $30 each and available for purchase online, ($35 at the door) or you can buy them in-person at Vic’s Ice Cream, Espresso Metro, Parkside Pharmacy and Riverside Clubhouse.

Featured on the Sacramento KCRA 3 News about marketing home listings for sale with really great photos...

If you follow me on Facebook or Twitter, or if you watch the KCRA 3 news, you may already know that one of my listings, my seller client, my go-to photographer, and I were profiled in a news story about marketing Sacramento homes for sale.

As a part of my listing services I hire a professional photographer, to take pictures of my listings. Good photos are extremely important in the overall marketing of a home for sale. Proper lighting, good composition, wide angles and high-quality equipment, etc. create really compelling good photos. While I did take a photography course in high school, my photos just don't turn out like a professional's do...and I know that most buyers are looking for homes online -- ideally a buyer will fall in love with my home listing when the view photos online, before they ever see the home in person.

Also, in addition to posting excellent photos, it is important to post A LOT of excellent photos. MLS will allow up to 25 photos, and depending on the size and features of the home, I try to upload as many as possible that highlight all of the great things about the property. Lack of photos will cause most buyers to wonder just what is not being shown, and to think "what's wrong with this house?" We don't want that -- a buyer may not even want to come and look at a house under those circumstances, and may direct their attention to another house...for maximum marketing exposure and as many showings as possible, and (most importantly) the highest sales price to the seller -- lots of excellent photos are critically important.

To view the KCRA news story, click here.

New Listing - 3068 8th Avenue, Sacramento, CA 95817

Stunning 3 bedroom, 2 bathroom, 1,773sf home on large .12ac lot close to Curtis Park! You will love the wood flooring, tasteful decor, remodeled kitchen with newer stainless appliances, island with built-in range, oven, and vent, formal dining area, downstairs bedroom and bathroom, upstairs loft, skylights, dual pane windows, lots of storage and a full basement. Amazing backyard features deck, fire pit area surrounded by flagstone, separate garden area with raised beds, fruit trees, and vine-covered archway. Don't wait! Offered at $369,000. Traditional sale! For more photos and information, please visit 3068 8th Avenue, Sacramento, CA 95817.

New Listing - 3052 8th Avenue, Sacramento, CA 95817

Adorable 3 bedroom, 2 bathroom, 1,148sf home on .14ac near Curtis Park. You will love the modern amenities amongst the vintage charm! Offered at $239,900, subject to lender approval of short sale. For more photos and additional information, please visit 3052 8th Avenue, Sacramento, CA 95817.

Sacramento Holiday Gift Giving Guide...are you giving back to our local economy and small businesses?

For the last few years in December, I have written blog posts about gift ideas from local Sacramento businesses to give to your favorite resident for Christmas, Channukah, or whatever else this holiday season. If your holiday festivities involve gift giving, there are many local Sacramento gifts you can give! Here are my top 12 gifts that will make any Sacramentan's holiday, at any age or budget:

• A 5k Run Training Program at Fleet Feet; the gift of fitness is a gift that keeps on giving! This super cool running store has a few locations in the Sacramento area (Downtown, Fair Oaks, Roseville, Davis) and offers several training programs for different levels (5k, half marathon, marathon, triathlon, etc). Their store locations offer a huge variety of fitness apparel too like shoes, synthetic socks, nutrition, etc. Estimated cost: $89+
• A membership to with the American River Parkway Foundation; another gift that keeps on giving! The parkway is one of the jewels of our Sacramento area, and the Foundation keeps it beautiful. A great cause! Estimated cost: $35/"Seed" annual membership.
• A new bike from Carmichael Cycles; they have everything from road bikes, mountain bikes, cruisers, and all the gear to make you a great rider! The staff is knowledgeable and they do on-site repairs too. Estimated cost: $500+.
• A subscription to Freeplay Magazine; it's the only Sacramento endurance sport magazine! They profile local athletes and give great fitness tips. Estimated cost: $3.50/month
• A California State University, Sacramento sweatshirt; My alma mater! Stay warm this winter while supporting our local CSUS Hornets! My CSUS sweatshirt was a Christmas gift from my mother during my freshman year...I still wear that thing even though it is totally faded and worn out...Estimated cost: $36 - $75.
• A new or used camera from Action Camera; This boutique camera store offers everything from new and refurbished camera, lenses, and more! They also do cool swap-meets for folks to sell their gear, photo contests, and "meet-up" events for photographers to take photos of neat stuff! Estimated cost: varies.
• Dinner at Mulvaney's; one of my favorite Midtown Sacramento restaurants! Neat setting, great ambiance, and amazing food. The menu is constantly evolving, so call ahead or check their website. Estimated cost per person: $50.
• A Growler of beer from Track 7 Brewing Co;  If you like craft brewed beer, and haven't discovered this place -- you need to go. Tucked away in an industrial warehouse space just south of Curtis Park at Sutterville Road and West Pacific Avenue, they brew their beer on-site...and have a tap room open to the public. They don't serve food, but there is almost always a mobile food truck in the parking lot. My personal favorite is the "Soulman Stout." Estimated cost per pint: $6.
• Massage from Elite Massage Therapy; Katie at Elite Massage Therapy in East Sacramento whips me back into shape after a long run, and she gives one heck of a theraputic massage too. Estimated cost/treatment: $75/ one hour.
• A copy of the book "NKOTB and Us", the authorized biography of the New Kids on the Block by Sacramento author Nikki Van Noy. Oh c'mon - someone you know was a New Kids on the Block fan in the 80's!? Estimated cost: $20.
• Tickets to a Sacramento Rivercats game; See the Oakland A's affiliate play at Raley Field. I'm a SF Giants fan, but I do really enjoy these games (especially when they play the SF Giant's affiliate team, the Fresno Grizzlies)...many of these players are a phone call away from the major leagues! Estimated cost/ticket: $6-30.
• A new home; Sure, I saved the best for last. Nothing says happy holidays like closing escrow on a Sacramento home...sorry if that was a little cheesy! Estimated cost: Priceless. =)

Check out my posts from previous years too -- there some great ideas there as well!
Post from 2011; Holiday Gift Ideas -- for your most beloved Sacramento Resident...
Post from 2010; Holiday Gift Ideas for your Favorite Sacramento Resident...
Post from 2009; Sacramento Holiday Gift Idea Guide
Post from 2008; Best Sacramento Christmas Gifts

Curtis Park Home & Garden Tour 2012 -- Saturday April 28th!

It's that time of year again! The Sierra-Curtis Neighborhood Association is having its 26th Annual Curtis Park Home & Garden Tour on Saturday, April 28th, 2012. This event is one of SCNA’s largest fundraising activities. This year approximately 7 homes in the Curtis Park neighborhood open their doors to the public. The featured houses honor the pre-war built neighborhood, which include bungalow, Spanish revival, Tudor and  Storybook style homes. Tickets are available online now - in advance for $20 (SCNA members get a $5 discount) or $25 the day of the event! If you are thinking about buying a home in Curtis Park, this is a great chance to get out and meet your potential neighbors and see different homes...

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.

Erin's Sacramento Short Sale Experiment, Part IV

Time for my fourth 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 III and Part IV, so that we can see if a trend has truly emerged. 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 332 active listings there. 227/332 listings are short sales. The median price in that zip code in October 2009 was $230,000 according to Trendgraphix (an 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. 72.5% last installment, vs. 68.3% this month. BIG DECREASE over the control data, but a more significant decrease over last installment. Number of YTD closed short sales - 203.

95610 is a section of Citrus Heights. As of right this second according to MLS, there are a total of 156 active listings there. 105/156 listings are short sales. The median price in that zip code in October 2009 was $215,000 according to Trendgraphix (a significant increase over last installment). The result vs. the control data? Control data was 60.3% of all active listings in 95610 were short sales, vs. 68.5% last installment, vs. 67.3% this month. BIG INCREASE over the control data, and a slight decrease over last installment. Number of YTD closed short sales - 76.

95826 is a section of Rosemont and College Greens. As of right this second according to MLS, there are a total of 124 active listings there. 92/124 listings are short sales. The median price in that zip code in October 2009 was also $190,000 according to Trendgraphix (an increase from last installment). The result vs. the control data? Control data was 62.2% of all active listings in 95826 were short sales, vs. 63.3% last installment, vs. 74.1% this month = BIG INCREASE. Number of YTD closed short sales - 52.

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 151 active listings there. 39/151 listings are short sales. The median price in that zip code in October 2009 was $260,000 according to Trendgraphix (a 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. 21.6% last installment, vs. 25.8% this month. BIG INCREASE. Number of YTD closed short sales - 16.

95818 is a section of Midtown, Land Park, and Curtis Park. As of right this second according to MLS, there are a total of 60 active listings there. 15/60 listings are short sales. The median price in that zip code in Octobet 2009 was $352,000 according to Trendgraphix (slight 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. 21.7% last installment, vs. 25.0% this month. BIG INCREASE. Number of YTD closed short sales - 14.

95819 is a section of East Sacramento. As of right this second according to MLS, there are a total of 62 active listings there. 14/62 listings are short sales. The median price in that zip code in October 2009 was $348,000 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. 13.9% last month, vs. 22.6 this month. BIG INCREASE. Number of YTD closed short sales - 9.

So in summary - of the six Sacramento area zip codes I am tracking for my experiment, 5 of them experienced an increase in the number of active short sale listings...the majority of the zip codes posted pretty large proportional increases, and the one decreasing zip code I am tracking posted a pretty large 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...and I have one Natomas short sale closing tomorrow. 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

Sacramento Short Sales on the rise..."Erin's Sacramento Short Sale Experiment!"

There has been a lot of buzz lately about just how many short sales are on the market in Sacramento. I can tell you that I have a growing number of short sale listings myself. For me, there is not too much difference in negotiating 5 short sales or 25...I am dealing with the same lenders repetitively, and I have developed a great system to negotiate them. The number of short sales vs. bank owned properties vs. traditional sellers on the market right now is pretty interesting. So interesting, in fact, that I am going to do a little recurring experiment. Let's call it "Erin's Sacramento Short Sale Experiment."

I am no scientist (I took bone-head science - astronomy in college, ok?), but I am going to take a few zip codes and dissect them. How many short sales are there right now? How many will there be in the same areas in a few months?...and over time? What percentage of all of the listings will be short sales? My hypothesis: the number of short sales will grow over time, as will their dominance in our marketplace (overall percentage of listings).

So for my experiment, let's look at the zip codes 95624, 95610, 95826, 95818, and 95819. We'll call this sample (as of today's MLS data) the "control data" for my experiment. We will revisit these cross sections over the next few months, and see how this plays out. Oooh! How fun!!

95624 is the section of Elk Grove closest to Hwy 99. As of right this second according to MLS, there are a total of 290 active listings there. 199/290 listings are short sales. That is more than two-thirds of the inventory there!! The median price in that zip code in May 2009 was $234,000 according to Trendgraphix.

95610 is a section of Citrus Heights. As of right this second according to MLS, there are a total of 126 active listings there. 76/126 listings are short sales. Slightly less than two-thirds of the inventory there. The median price in that zip code in May 2009 was $208,000 according to Trendgraphix.

95826 is a section of Rosemont and College Greens. As of right this second according to MLS, there are a total of 90 active listings there. 56/90 listings are short sales. Slightly less than two-thirds of the inventory there. The median price in that zip code in May 2009 was also $208,000 according to Trendgraphix.

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 147 active listings there. 25/147 listings are short sales. Slightly less than one-fifth of the inventory there. The median price in that zip code in May 2009 was $430,000 according to Trendgraphix.

95818 is a section of Midtown, Land Park, and Curtis Park. As of right this second according to MLS, there are a total of 75 active listings there. 12/75 listings are short sales. Slightly less than one-fifth of the inventory there. The median price in that zip code in May 2009 was $382,000 according to Trendgraphix.

95819 is a section of East Sacramento. As of right this second according to MLS, there are a total of 71 active listings there. 14/71 listings are short sales. Slightly less than one-fifth of the inventory there. The median price in that zip code in May 2009 was $378,000 according to Trendgraphix.

Welp...let's see how this takes shape over time!

Sewer Line Inspections in Sacramento

After my long-winded post the other day about Buyer Investigation, Inspections, and Request for Repairs, I received a call and an email from two separate folks asking about sewer lines...coincidentally enough, these people were neither current buyers nor sellers...

For anyone wondering, for sewer camera scoping, I recommend Express Plumbing at 916-488-1215. They are great, really knowledgable, and will show you and explain what the camera sees during the process. They also do outstanding repair work.

Many of Sacramento's older neighborhoods have orangeburg sewer lines...this stuff deteriorates over time, and is prone to collapse and obstruction by things like tree roots. If you are buying a pre-1960's era home in Land Park, Curtis Park, Hollywood Park, Tahoe Park, Downtown or Midtown Sacramento, East Sacramento, Arden Park, Sierra Oaks, Garden of the Gods, Carmichael, Wilhaggin, Del Dayo, etc., and if the home still has its original sewer pipe - it is likely orangeburg, or perhaps another material that has not held up well.

It is well worth the $150 to inspect the line and find out!!If you obtain a home warranty with your home purchase, many home warranty plans exclude coverage of your sewer line.

Sacramento REO Inventory

The number of REO (a term for bank-owned / foreclosed property) listings in Sacramento has grown exponentially over the last year. If ya'll read my blog, you will know that I love stats. There are some interesting, yet predictable, trends with bank-owned property in Sacramento...

For the new reader of this blog - Sacramento is full of micro-markets. The mass media doom and gloom has its place in certain micro-markets here, but does not equally affect the entire Sacramento metro area. I don't want to bore everyone with a reiteration of the same old stuff, so for you folks who want to brush up on 'Erin's Real Estate Principles 101', you can check out some past posts (More on Market Conditions, November Statistics, and The East Sacramento Anomaly are good places to start).

Anyway, so let's explore REO inventory trends in Sacramento County. The graph shown above illustrates REO inventory for the entire county. You can notice the obvious upward trend...also take note that it seems that many buyers are taking advantage of this excess inventory and snagging these (note the sold and pending sales).

Now let's explore REO inventory trends in Elk Grove...you will see that this second graph illustrates that there has also been an exponential increast in Elk Grove REO property. If you put this graph side-by-side with the overall Sacramento REO inventory trend, they almost look identical.

Finally - let's take a look at the Sacramento core area - midtown / downtown Sacramento, Land Park, Curtis Park, East Sacramento, etc. Need I explain the difference?

Click HERE to see the graphs. Unfortunately they do not fit well in this blog format...if anyone wants to see any geographic areas specifically, shoot me an email at erin@erinattardi.com and I am happy to email them to you directly.

The East Sacramento anomaly: Homes in established neighborhoods fly off market

Great article in last week's Sacramento Business Journal ~

Last month, Dann Ingrim, co-manager of Lyon Real Estate's downtown Sacramento office, went to market confidently with a 985-square-foot, three-bedroom house priced in the low $400,000s.

It sold in three days at full price.

Read the rest of the article HERE.




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