![]() 10280 Nick Way Elk Grove, CA 95757 |
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![]() 3968 12th Ave Sacramento, CA 95817 |
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![]() 5330 Agate Way Carmichael, CA 95608 |
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![]() 12045 Mandolin Way Rancho Cordova, CA 95742 |
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![]() 3305 Tree Swallow Cir Elk Grove, CA 95757 |
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![]() 8756 Rubystone Ct Elk Grove, CA 95624 |
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![]() 5412 Ravine Creek Way Elk Grove, CA 95758 |
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![]() 4211 Brookfield Dr Sacramento, CA 95823 |
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![]() 2010 Bonavista Way Sacramento, CA 95832 |
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![]() 135 Mcfarland Dr Folsom, CA 95630 |
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![]() 8825 Williamson Dr Elk Grove, CA 95624 |
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![]() 2424 27th St Sacramento, CA 95818 |
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![]() 6829 Fruitridge Rd Sacramento, CA 95820 |
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![]() 8625 Allister Way Elk Grove, CA 95624 |
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![]() 3311 Franklin Blvd Sacramento, CA 95818 |
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![]() 6549 RIO OSO Dr Rancho Murieta, CA 95683 |
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![]() 104 Herrill Ct Folsom, CA 95630 |
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![]() 2085 Edgewater Rd Sacramento, CA 95815 |
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![]() 5046 53rd Ave Sacramento, CA 95823 |
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![]() 1510 Florin Rd Sacramento, CA 95822 |
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![]() 6820 Castleberry Cir Citrus Heights, CA 95621 |
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![]() 2713 16th St Sacramento, CA 95818 |
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![]() 9682 Alta Mesa Rd Wilton, CA 95693 |
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![]() 79 Aiken Way Sacramento, CA 95819 |
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![]() 1205 Monte Vista Way Sacramento, CA 95831 |
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![]() 8242 Rendham Way Sacramento, CA 95829 |
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![]() 9308 Engleside Ct Elk Grove, CA 95758 |
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![]() 10178 Clairina Way Elk Grove, CA 95757 |
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![]() 9574 Sunlight Ln Elk Grove, CA 95758 |
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![]() 6101 Bamford Dr Sacramento, CA 95823 |
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![]() 3001 60th St Sacramento, CA 95820 |
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![]() 7675 25th St Sacramento, CA 95832 |
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![]() 8324 Crestshire Cir Orangevale, CA 95662 |
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![]() 4815 Crest Dr Sacramento, CA 95835 |
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![]() 9389 Windy Fen Ct Elk Grove, CA 95758 |
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![]() 2615 Burnaby Way Sacramento, CA 95833 |
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![]() 6204 Green Top Way Orangevale, CA 95662 |
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![]() 8369 Rasmussen Cir Elverta, CA 95626 |
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![]() 1442 Taupin Ct Folsom, CA 95630 |
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![]() 54 Northwich Ct Sacramento, CA 95832 |
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![]() 1898 Acari Ave Sacramento, CA 95835 |
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![]() 7621 Scribner Ave Citrus Heights, CA 95610 |
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![]() 7197 Snowy Birch Way Sacramento, CA 95823 |
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![]() 5705 Zimmerman Ct Fair Oaks, CA 95628 |
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![]() 5405 Beckworth Way Antelope, CA 95843 |
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![]() 8074 Bucks Harbor Way Sacramento, CA 95828 |
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![]() 1351 Woodside Glen Way Sacramento, CA 95833 |
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![]() 9217 Cotton Creek Ct Sacramento, CA 95829 |
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![]() 7109 Paul Do Mar Way Elk Grove, CA 95757 |
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![]() 8136 Zenith Dr Citrus Heights, CA 95621 |
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![]() 2925 Babson Dr Elk Grove, CA 95758 |
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![]() 3930 Balverne Ct Antelope, CA 95843 |
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![]() 7560 Twilight Dr Sacramento, CA 95822 |
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![]() 8587 New Island Way Sacramento, CA 95828 |
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![]() 6860 Speckle Way Sacramento, CA 95842 |
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![]() 3501 Del Paso Blvd Sacramento, CA 95838 |
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![]() 4898 Kokomo Dr Sacramento, CA 95835 |
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![]() 91 Hermes Cir Sacramento, CA 95823 |
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![]() 22 Bimini Ct Sacramento, CA 95835 |
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![]() 8700 Elk Ridge Way Elk Grove, CA 95624 |
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![]() 9582 Castledale Ct Elk Grove, CA 95758 |
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![]() 5426 Baccus Way Sacramento, CA 95835 |
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![]() 6040 Calvine Rd Sacramento, CA 95823 |
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![]() 2611 28th St Sacramento, CA 95818 |
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![]() 1200 Brannan Island Rd Isleton, CA 95641 |
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![]() 4996 Madamin Way Sacramento, CA 95835 |
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![]() 8209 Newport Park Ct Sacramento, CA 95828 |
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![]() 7937 Whisper Wood Way Sacramento, CA 95823 |
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![]() 3557 Envero Way Rancho Cordova, CA 95670 |
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![]() 2424 Mabry Dr Sacramento, CA 95835 |
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![]() 9060 Clarissa Dr Orangevale, CA 95662 |
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![]() 3729 Rock Island Dr Sacramento, CA 95827 |
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![]() 5248 U St Sacramento, CA 95817 |
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![]() 7568 Mountain Oak Way North Highlands, CA 95660 |
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![]() 9136 Giant Panda Dr Sacramento, CA 95829 |
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![]() 5855 13th St Sacramento, CA 95822 |
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![]() 11722 Arete Way Rancho Cordova, CA 95742 |
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![]() 3712 Lenore Way North Highlands, CA 95660 |
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![]() 2121 Bradburn Dr Sacramento, CA 95835 |
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![]() 9968 Autumn Sage Way Elk Grove, CA 95757 |
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![]() 978 Gaylon Way Galt, CA 95632 |
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![]() 9460 Brookmont Ct Elk Grove, CA 95624 |
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![]() 8077 Beachmont Way Sacramento, CA 95828 |
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![]() 530 Garden St Sacramento, CA 95815 |
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![]() 3739 Broadland St Sacramento, CA 95834 |
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![]() 446 Slocum Dr Folsom, CA 95630 |
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![]() 3862 Saintsbury Dr Sacramento, CA 95834 |
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![]() 6913 Richman Way Sacramento, CA 95828 |
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![]() 3436 Windsor Dr Sacramento, CA 95864 |
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![]() 15568 Topspin Way Rancho Murieta, CA 95683 |
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![]() 5123 Seaglen Way Sacramento, CA 95835 |
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![]() 4525 Winter Oak Way Antelope, CA 95843 |
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![]() 6926 Paseo Del Sol Way Elk Grove, CA 95758 |
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![]() 9333 Channel Islands St Elk Grove, CA 95624 |
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![]() 3584 Rainsong Cir Rancho Cordova, CA 95670 |
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![]() 8278 Leesburg Way Elk Grove, CA 95624 |
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![]() 5586 Honor Pkwy Sacramento, CA 95835 |
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![]() 6632 THOMAS Dr North Highlands, CA 95660 |
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![]() 9123 Cobblefield Dr Sacramento, CA 95829 |
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![]() 5 Yahi Ct Sacramento, CA 95833 |
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![]() 1807 Danbrook Dr Sacramento, CA 95835 |
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![]() 9141 Bramwell Way Sacramento, CA 95829 |
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![]() 5128 Rabeneck Way Fair Oaks, CA 95628 |
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![]() 2175 Florin Rd Sacramento, CA 95822 |
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![]() 3575 Cattle Dr Sacramento, CA 95834 |
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![]() 5707 Mariposa Ave Citrus Heights, CA 95610 |
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![]() 6300 San Martin St North Highlands, CA 95660 |
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![]() 6637 Halifax St Citrus Heights, CA 95621 |
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![]() 387 Cedar River Way Sacramento, CA 95831 |
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8 comments :
Max, I was in disbelief about your first listing, the 2004-09-30 purchase on Nick Way, shown as an acquisition price of $775,545. I pulled the grant deed. The transfer tax is smudged. Instead of $853 (indicating a purchase of $775,545) the transfer tax appears to actually be $353. This make the original purchase price as $320,000. Some clerk must have misread the numbers.
Regardless, your point is well made with the other 207 listings: Prices in Sacramento County are DOWN 2% to 20% from the highs of mid 2005. And that reduction does NOT count any improvements, carrying costs, or selling costs.
On Friday, I saw a neighbor's home listed on the pre-foreclosure rolls. I took a walk around the block to see it last night. The home is 1992 square feet. It was purchased for $479,000, about 12 months ago (mid 2005) with 100% financing. Today, bigger & better houses are LISTED at $450,000. Clearly, the owner feels there is no point in keeping current with his 80% 1st mortgage, and rising interest rate 20% 2nd mortgage, just to protect a negative $40,000 in equity (actualy, a negative $65,000 after selling costs).
I predict we will see more and more of this in the next 3 years. After all, Centex is still writing neg am, 100% loans on NEW deals, and making the first 6 months interest payments for the buyers. WAKE UP PEOPLE. Your lives may be ruined for years when your interest rate rises, your loan balance exceeds your value, and you can NOT refinance or sell.
There are 207 examples Max has listed here for you. And I don't think he had to look very hard. This is just the tip of the iceberg. There are thousands more below the water line (pun intended). Do not buy what you can not afford.
Kudos to you for keeping such good records and having this data available for your readers.
yuip.com/housingbubble.html
LOL, this is deflation in action! Money was created by credit expansion, now it is being destroyed. This is as it should be. Burn, flippers, burn!
FIRE FIRE FIRE! RUN FOR THE EXITS!
OH NO THE DOOR ISN"T BIG ENOUGH.
BOOOOOOOOYAAAAAAAAAA
Bob
Hey John in Rocklin,
How are you doing in your rental home? I believe a family I met in ID are your new neighbors ;-0
signed,
Glad I sold at the peak in Sac!!!
We have not moved in yet, as the lease is not signed. We have a lot to do, including getting set for renting out our exising house. The demands will be putting a crimp on my blogging time, too. And since Max has helped convince me not to buy now, I will stop my search for a new home and focus on other things.
It is amazing how awesome it feels to quit "banging my head against the wall" in our search to buy a new home. Now we will wait 2 or 3 years, and have our pick of whole reduced market. The average downturn takes 3.7 years, before it levels out for 2.8 years. Plenty of time for our CD's to grow, reducing our need for debt.
"LOL, this is deflation in action! Money was created by credit expansion, now it is being destroyed. This is as it should be. Burn, flippers, burn!"
christian, could you explain this to me? I've heard this type of remark before, but I don't understand it. The money that was loaned (i.e. "taken from the future") was given to a seller. Somebody had to have the money to loan it in the first place. If that money is defaulted on, then effectively a simple transfer has taken place from lender to seller. Meanwhile, the future earnings of buyer are no longer committed to paying the debt.
So where in this is money actually destroyed? I ask because I'm an economics novice, and want to know.
The data you've presented is shocking -- there's no other word for it. It will take years for the U.S. economy to work off this kind of excess. It is difficult to be anything other than pessimistic when you look at these numbers. Folks who believe they will be insulated from the fallout just because they weren't among the flippers are probably in for a nasty surprise. If you're sitting on a big pile cash, fine -- otherwise, you're probably going to suffer to some extent along with the speculators.
Congratulations to the people who have assembled and presented this information: you've done a real public service.
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