Property Tax Reassessment

Want to make an appeal to get your property taxes lowered? Starting in mid-May, the Sacramento County Assessor's office will be reviewing property values. Under California tax law per Proposition 8), if the market value of your property falls below the Proposition 13 assessed value as of January 1, the Assessor is required to enroll the lower of the two values.

Download the Sacramento County application, Placer County application, Yolo County application, El Dorado County application, to have your property tax assessment reviewed.

The applications will ask you to provide specific sales in your neighborhood from early this year. Feel free to email me with your address, and I will email you comps for your applications. Hurry! The applications are due by December 1st!!

It's Land Park Home Tour time!!

That's right! On May 18th from 10am - 4pm, several beautiful Land Park homes will be open for tour to help raise money for special visual and performing arts programs at Crocker-Riverside Elementary School, Sutterville Elementary School, California Middle School, and CK McClatchy High School. Tickets are $15 in advance, or $20 the day of the tour. Tickets can be purchased at Capital Nursury (4700 Freeport Blvd), Espresso Metro (2104 11th Avenue), and Vic's Ice Cream (3199 Riverside Blvd).

Hot Markets...

I have gotten into several debates over the weekend, both in person and online (on other blogs and forums) regarding the state of the market in certain areas and price ranges. Folks, the market is blazing hot in nice areas under $300k. Allow me to illustrate...above is a Trendgraphix chart that shows months of inventory in 95608 (Carmichael), 95610 & 95621 (Citrus Heights), 95628 (Fair Oaks), 95662 (Orangevale), 95821, 95825 & 95864 (Arden), 95826 (Rosemont), 95827 (Lincoln Village), 95831 (Pocket), 95841 (Arcade), and 95843 (Antelope) for all listings under $300k. FYI generally 6 months of inventory represents buyer/seller equilibrium. I have many clients getting into multiple offer situations and bidding wars in this price range in these areas.

Mike Lyon Interview

Kelly Brothers interviews Mike Lyon...not so much about market trends, but interesting still.

Foreclosure Prevention Education...

The NeighborhoodWorks HomeOwnership Center of the Sacramento Region is putting on several foreclosure prevention workshops. Classes will be held at their offices at 2400 Alhambra Blvd, Sacramento, CA 95817. To register for a free class, click here.


April 24, 2008 6:00pm-8:00pm
May 1, 2008 11:30am-1:30pm
May 8, 2008 6:00pm-8:00pm
May 15, 2008 11:30am-1:30pm
May 22, 2008 6:00pm-8:00pm
May 29, 2008 11:30am-1:30pm
June 5, 2008 6:00pm-8:00pm
June 12, 2008 11:30am-1:30pm
June 19, 2008 6:00pm-8:00pm
June 26, 2008 11:30am-1:30pm

Recognizing Scams...

The Sacramento Housing and Redevelopment Agency has published a piece on "How to Recognize a Foreclosure Scam." It is a quick but good read...

Tune in tonight at 8pm!...

...for my weekly live radio show. Click here at 8pm PST to listen. Be sure to hit the "Play" icon and wait about 30 seconds for the audio to load...

March Statistics

Exciting stuff...the March stats are out, and pendings have substantially increased over last month (which was substantially up over the prior month too). In March, there were 2,311 pending sales. Compared to February's numbers, that is about 50% MORE pending sales. Overall listing inventory decreased slightly, but is still higher than March 2007's total listings.

This is a positive trend for sure...is the madness completely over? I doubt it. There will be many new foreclosure listings that hit the market over the next several months, but the silver lining is that the banks are 'getting it' and actually pricing listings to sell. I have several buyer clients who are getting outbid in multiple offer situations for well priced listings. Who is outbidding them, you ask? Yes there are investors in the marketplace, but there are even more first time buyers and move-up buyers taking advantage of the buyer's market we are in. While there will be a lot of listings on the market, I think the bottom is in sight for the low end of the market. Appropriately priced listings under $300k in nice areas are selling relatively quickly, and they are moving even faster the closer to $200k you get...this applies to properties in all types of condition.

Over $300k, listings take longer to sell, and the length of time on the market extends with the higher the price range (exceptions in a notable neighborhoods, like Land Park for example). My own sales activity reflects these trends. I wish I had a crystal ball to see what the future holds. I do not think we will see another 50% increase in pending sales from March to April (when those figures comes out in a month or so), but there are lots of buyers out there, and I think demand will remain consistent.

If anyone is interested in data for any specific areas or price ranges, please email me at erin@erinattardi.com and I am happy to shoot them over to you.

Source: Trendgraphix, Metrolist MLS
http://www.trendgraphix.com/

http://www.erinattardi.com/ • http://erin.golyon.com/