Monday, September 08, 2008

Sacramento Regional Real Estate Trends for September 6, 2008

Inventory declined less than expected this week, with even a slight increase in sub $200k listings. There was a sharp decline in the number of new listings, however, which is indicative of future declines.

I'm keeping it short today since the GSE news is dominating. Should be an interesting day.












6 comments :

Anonymous said...

Your trend lines from previous years show inventory drops in Oct and Nov, but pretty flat in Sept.

I'm seeing a lot of higher end stuff come off market and go rental. Some nice rentals out there!

Also observing a house full of 20-30ish ski/snow board guys trash a house that they're loosing to the bank. Not a pretty scene. I had heard about the NOD, and saw the "estate sale" sign, but a friend who went there said they were cutting fixtures off the walls.... which I've seen several times now in $1mil plus homes,but when I looked at the records, the home was already bank owned, just waiting for eviction!

I remember when they had it on the market, nice "Burton" 2'x2' decal on the $1000 stainless steel hood. What, nobody interested?

This is the 5th one I've seen, $100-200K in damage, one was flooded, all with hundreds of thousands of nice cars in the drives just prior, MBs and others, that the banks will end up selling for 40-50% of the prior sales price, as it is hard to find a buyer that qualifys to purchase a home that also needs a few hundred more invested.

When you trash a home you own, its irresponsible, when you trash a bank owned home, thats a felony!

Sippn

Patient Renter said...

Sippn - Get a new account already!!!

Max said...

Also observing a house full of 20-30ish ski/snow board guys trash a house that they're loosing to the bank.

Man, I'd love some pics. Got an address?

smf said...

Why would anyone list a house where you are sure to have to bring money to the table to sell?

Anonymous said...

Not sure if the anon above with the signature is actually Sippn. What do you guys think?

Max said...

Not sure if the anon above with the signature is actually Sippn. What do you guys think?

I believe it. Why would anyone lie about that?