Saturday, October 01, 2011

Sacramento Real Estate Market - October 2011 Water Cooler

Post off-topic links, observations, and stories about the Sacramento real estate market. Please read the comment policy before posting.

9 comments:

Boba the IX said...

Wow, no comments for September. Now, nothing in October. This is a good sign of a bottom, as people are no longer obsessed with the residential real estate market!

patient renter said...

Yep - might be a sign of the bottom. As it turns out, after much waiting and time spent on this blog in years past, I'll be leaving the area soon. I never did make the home purchase, but the mobility of not owning turned out to be a wise decision - at least for now. Best to all.

husmanen said...

Patient renter. Thanks for the good conversation over the years. Wish you the best.

Boba. Yes, this and many other signs, BUT the bottom will probably be very very long and rocky.

Boba the IX said...

There is a lot of talk about another huge waive for foreclosures coming soon, but I must say it is not happening in Placer County. The areas I have been tracking since 2006 are getting much tighter for inventory. Foreclosure listings are down 20-30% from 2010.

There are many people in this market getting frustrated with the lack of properties to buy.

PeonInChief said...

Foreclosure filings are increasing--a lot. My tenants and foreclosure blog has gone from 3500-5000 hits a month to 8500 in August and 8600 in September.

Husmanen said...

PeonInChief. I always recommend your site to any of my friends/co-workers that inquire about the latest in tenant rights. So far all have been helped. Thanks.

PeonInChief said...

Thank you humanen. You do realize, however, that your compliment will make me obnoxious for a week.

Giacomo said...

No, no bottom yet. I would suggest that the lack of activity here is only a sign of weariness with consistently bad news about RE values and the economy in general.

I don't know what to do about it except hold cash, and NOT buy a house. Yeah, prices have fallen so much that I could pay cash, but I am confident that prices will still fall further and faster than I pay to lease. And do I want to commit to paying property taxes in a bankrupt state which hasn't even begun to live within its means? Not really.

Unknown said...

Seems more like the calm before the storm.

We just had BofA increase foreclosure filings by +30%, while inventory dropping?

Tell me where all that winds up?