Saturday, October 07, 2006

Sacramento: 2006-10-07 Part I


808 Natoma St
Folsom, CA 95630
Total Loss: $158,500Percent Loss: 30.6%
Asking Price: $360,000
Bedrooms:3    Baths: 1    Sq. feet:1262

Previous Sales:
Sold on 2005-12-02 for $518,500

MLS# 60112107      Google Maps
Assessed Value       Property Tax Bill



12045 Mandolin Way
Rancho Cordova, CA 95742
Total Loss: $119,000Percent Loss: 17.3%
Asking Price: $570,000
Bedrooms:5    Baths: 3    Sq. feet:2821

Asking Price Changes:
Down 18.0% from $695,000 On 04-09
Down 13.6% from $660,000 On 06-01
Down 4.2% from $595,000 On 07-15

Previous Sales:
Sold on 2006-02-16 for $689,000

MLS# 60017236      Google Maps
Assessed Value       Property Tax Bill



7217 Pine Grove Way
Folsom, CA 95630
Total Loss: $115,000Percent Loss: 15.0%
Asking Price: $650,000
Bedrooms:4    Baths: 3    Sq. feet:3254

Asking Price Changes:
Down 6.9% from $698,000 On 09-02

Previous Sales:
Sold on 2006-03-01 for $765,000

MLS# 60099754      Google Maps



8756 Rubystone Ct
Elk Grove, CA 95624
Total Loss: $110,000Percent Loss: 20.2%
Asking Price: $435,000
Bedrooms:3    Baths: 2    Sq. feet:1900

Asking Price Changes:
Down 2.2% from $445,000 On 07-28

Previous Sales:
Sold on 2005-12-02 for $545,000

MLS# 60083355      Google Maps
Assessed Value       Property Tax Bill



9308 Engleside Ct
Elk Grove, CA 95758
Total Loss: $107,500Percent Loss: 19.1%
Asking Price: $455,000
Bedrooms:4    Baths: 3    Sq. feet:2126

Asking Price Changes:
Down 16.1% from $542,000 On 06-16
Down 11.7% from $515,000 On 07-15
Down 6.2% from $485,000 On 08-14
Down 4.2% from $475,000 On 09-02

Previous Sales:
Sold on 2005-08-15 for $562,500

MLS# 60064506      Google Maps
Assessed Value       Property Tax Bill



104 Herrill Ct
Folsom, CA 95630
Total Loss: $104,600Percent Loss: 20.3%
Asking Price: $409,900
Bedrooms:3    Baths: 2    Sq. feet:1913

Asking Price Changes:
Down 9.9% from $454,900 On 07-22

Previous Sales:
Sold on 2005-10-07 for $514,500

MLS# 60079635      Google Maps
Assessed Value       Property Tax Bill



8800 Creek Oaks Ln
Orangevale, CA 95662
Total Loss: $100,000Percent Loss: 8.3%
Asking Price: $1,100,000
Bedrooms:5    Baths: 3    Sq. feet:5000

Asking Price Changes:
Down 15.1% from $1,295,000 On 05-04
Down 13.7% from $1,275,000 On 06-01
Down 12.4% from $1,255,000 On 07-08

Previous Sales:
Sold on 2003-11-19 for $1,000,000
Sold on 2006-03-24 for $1,200,000

MLS# 60101736      Google Maps
Assessed Value       Property Tax Bill



6500 Larchmont Dr
North Highlands, CA 95660
Total Loss: $91,000Percent Loss: 27.6%
Asking Price: $239,000
Bedrooms:3    Baths: 2    Sq. feet:1120

Asking Price Changes:
Down 7.7% from $259,000 On 09-09
Down 4.0% from $249,000 On 09-16

Previous Sales:
Sold on 2006-03-23 for $330,000

MLS# 60100568      Google Maps
Assessed Value       Property Tax Bill



104 Brown Duvall Ln
Folsom, CA 95630
Total Loss: $79,500Percent Loss: 12.1%
Asking Price: $575,000
Bedrooms:4    Baths: 2    Sq. feet:2436

Previous Sales:
Sold on 2005-12-13 for $654,500

MLS# 60110511      Google Maps
Assessed Value       Property Tax Bill



5220 Mckellar Ave
Sacramento, CA 95824
Total Loss: $75,050Percent Loss: 30.6%
Asking Price: $169,950
Bedrooms:2    Baths: 1    Sq. feet:708

Asking Price Changes:
Down 19.1% from $209,950 On 09-02
Down 10.5% from $189,950 On 09-09

Previous Sales:
Sold on 2005-07-15 for $245,000

MLS# 60099834      Google Maps
Assessed Value       Property Tax Bill



6016 14th St
Sacramento, CA 95822
Total Loss: $74,000Percent Loss: 16.5%
Asking Price: $375,000
Bedrooms:3    Baths: 2    Sq. feet:1456

Asking Price Changes:
Down 14.6% from $439,000 On 04-09
Down 10.5% from $419,000 On 09-02

Previous Sales:
Sold on 2005-02-18 for $364,000
Sold on 2005-07-25 for $449,000

MLS# 60112871      Google Maps
Assessed Value       Property Tax Bill



135 Mcfarland Dr
Folsom, CA 95630
Total Loss: $71,000Percent Loss: 16.7%
Asking Price: $355,000
Bedrooms:3    Baths: 2    Sq. feet:1371

Asking Price Changes:
Up 1.4% from $350,000 On 08-05
Down 7.8% from $385,000 On 08-14
Down 2.7% from $365,000 On 09-23

Previous Sales:
Sold on 2005-06-17 for $426,000

MLS# 60087877      Google Maps
Assessed Value       Property Tax Bill



6829 Fruitridge Rd
Sacramento, CA 95820
Total Loss: $70,000Percent Loss: 20.6%
Asking Price: $270,000
Bedrooms:5    Baths: 2    Sq. feet:1843

Asking Price Changes:
Down 10.0% from $300,000 On 06-22

Previous Sales:
Sold on 2005-03-16 for $340,000

MLS# 60067432      Google Maps
Assessed Value       Property Tax Bill



2935 Azevedo Dr
Sacramento, CA 95833
Total Loss: $67,100Percent Loss: 17.7%
Asking Price: $312,900
Bedrooms:4    Baths: 2    Sq. feet:1484

Asking Price Changes:
Down 3.7% from $325,000 On 09-23

Previous Sales:
Sold on 2004-05-28 for $270,000
Sold on 2005-01-21 for $340,000
Sold on 2005-10-14 for $380,000

MLS# 60106170      Google Maps
Assessed Value       Property Tax Bill



3930 Balverne Ct
Antelope, CA 95843
Total Loss: $67,000Percent Loss: 15.7%
Asking Price: $359,000
Bedrooms:3    Baths: 2    Sq. feet:1893

Asking Price Changes:
Down 10.2% from $399,900 On 08-05

Previous Sales:
Sold on 2005-04-27 for $426,000

MLS# 60086685      Google Maps
Assessed Value       Property Tax Bill



3879 14th Ave
Sacramento, CA 95820
Total Loss: $66,100Percent Loss: 27.4%
Asking Price: $174,900
Bedrooms:2    Baths: 1    Sq. feet:885

Previous Sales:
Sold on 2003-08-21 for $134,000
Sold on 2005-10-12 for $241,000

MLS# 60106508      Google Maps
Assessed Value       Property Tax Bill



3337 Mas Amilos Way
Sacramento, CA 95835
Total Loss: $66,000Percent Loss: 13.6%
Asking Price: $419,000
Bedrooms:4    Baths: 2    Sq. feet:2078

Asking Price Changes:
Down 20.9% from $530,000 On 06-09
Down 14.5% from $490,000 On 07-22
Down 8.9% from $460,000 On 08-19
Down 3.7% from $435,000 On 09-09
Down 2.3% from $429,000 On 09-16

Previous Sales:
Sold on 2005-04-19 for $415,500
Sold on 2005-10-11 for $485,000

MLS# 60079721      Google Maps
Assessed Value       Property Tax Bill



3320 9th Ave
Sacramento, CA 95817
Total Loss: $65,100Percent Loss: 26.0%
Asking Price: $184,900
Bedrooms:2    Baths: 1    Sq. feet:936

Asking Price Changes:
Down 26.0% from $250,000 On 04-09
Down 14.0% from $214,900 On 06-16
Down 7.5% from $199,900 On 07-22
Down 2.6% from $189,900 On 08-14

Previous Sales:
Sold on 2005-06-30 for $250,000

MLS# 60065882      Google Maps



2713 16th St
Sacramento, CA 95818
Total Loss: $65,000Percent Loss: 13.3%
Asking Price: $425,000
Bedrooms:3    Baths: 1    Sq. feet:1168

Asking Price Changes:
Down 10.7% from $475,900 On 04-27
Down 7.1% from $457,500 On 06-09
Down 2.3% from $435,000 On 08-05

Previous Sales:
Sold on 2004-10-18 for $85,000
Sold on 2005-03-01 for $490,000

MLS# 60102174      Google Maps
Assessed Value       Property Tax Bill



6801 Grant Ave
Carmichael, CA 95608
Total Loss: $64,000Percent Loss: 16.5%
Asking Price: $325,000
Bedrooms:3    Baths: 2    Sq. feet:1240

Asking Price Changes:
Down 11.0% from $365,000 On 05-12

Previous Sales:
Sold on 2005-09-23 for $389,000

MLS# 60049963      Google Maps
Assessed Value       Property Tax Bill



3133 T St
Sacramento, CA 95816
Total Loss: $62,000Percent Loss: 9.7%
Asking Price: $578,000
Bedrooms:3    Baths: 2    Sq. feet:1739

Asking Price Changes:
Down 19.2% from $715,000 On 05-14
Down 1.2% from $585,000 On 09-02

Previous Sales:
Sold on 2005-09-30 for $640,000

MLS# 60099251      Google Maps
Assessed Value       Property Tax Bill



9435 Soaring Oaks Dr
Elk Grove, CA 95758
Total Loss: $61,050Percent Loss: 17.4%
Asking Price: $289,950
Bedrooms:3    Baths: 2    Sq. feet:1154

Asking Price Changes:
Down 1.7% from $294,950 On 09-23

Previous Sales:
Sold on 2005-06-13 for $351,000

MLS# 60107019      Google Maps
Assessed Value       Property Tax Bill



3311 Franklin Blvd
Sacramento, CA 95818
Total Loss: $61,000Percent Loss: 15.3%
Asking Price: $339,000
Bedrooms:4    Baths: 2    Sq. feet:1509

Previous Sales:
Sold on 2004-07-26 for $272,000
Sold on 2006-02-17 for $400,000

MLS# 60003190      Google Maps
Assessed Value       Property Tax Bill



7853 Winding Way
Fair Oaks, CA 95628
Total Loss: $60,100Percent Loss: 16.7%
Asking Price: $299,900
Bedrooms:3    Baths: 1    Sq. feet:1234

Asking Price Changes:
Down 3.2% from $309,900 On 08-26

Previous Sales:
Sold on 2005-03-02 for $327,000
Sold on 2005-09-15 for $360,000

MLS# 60112732      Google Maps
Assessed Value       Property Tax Bill



6549 RIO OSO Dr
Rancho Murieta, CA 95683
Total Loss: $60,000Percent Loss: 8.8%
Asking Price: $625,000
Bedrooms:3    Baths: 2    Sq. feet:2785

Asking Price Changes:
Down 2.3% from $640,000 On 05-18

Previous Sales:
Sold on 2003-12-17 for $548,000
Sold on 2005-04-04 for $685,000

MLS# 60051343      Google Maps
Assessed Value       Property Tax Bill



5 Northwich Ct
Sacramento, CA 95832
Total Loss: $59,000Percent Loss: 14.1%
Asking Price: $360,000
Bedrooms:3    Baths: 2    Sq. feet:1536

Previous Sales:
Sold on 2005-12-16 for $419,000

MLS# 60106240      Google Maps
Assessed Value       Property Tax Bill



5412 Ravine Creek Way
Elk Grove, CA 95758
Total Loss: $58,945Percent Loss: 13.4%
Asking Price: $379,900
Bedrooms:4    Baths: 3    Sq. feet:2267

Asking Price Changes:
Down 10.1% from $422,650 On 07-15
Down 5.7% from $402,900 On 08-26
Down 3.1% from $392,000 On 09-09

Previous Sales:
Sold on 2005-05-17 for $410,000
Sold on 2005-09-27 for $519,000
Sold on 2006-06-23 for $438,845

MLS# 60077522      Google Maps
Assessed Value       Property Tax Bill



7109 Paul Do Mar Way
Elk Grove, CA 95757
Total Loss: $58,600Percent Loss: 10.0%
Asking Price: $529,900
Bedrooms:4    Baths: 3    Sq. feet:2984

Asking Price Changes:
Down 18.4% from $649,000 On 07-08
Down 15.1% from $624,000 On 07-15
Down 8.5% from $579,000 On 07-22
Down 5.2% from $559,000 On 08-05
Down 3.7% from $550,000 On 08-14

Previous Sales:
Sold on 2005-06-06 for $588,500

MLS# 60074230      Google Maps
Assessed Value       Property Tax Bill



7613 Muschetto Ct
Citrus Heights, CA 95621
Total Loss: $58,100Percent Loss: 16.9%
Asking Price: $284,900
Bedrooms:3    Baths: 2    Sq. feet:1316

Asking Price Changes:
Down 22.8% from $369,000 On 08-19
Down 11.8% from $323,000 On 08-26
Down 5.0% from $299,900 On 09-02
Down 3.4% from $294,900 On 09-09
Down 1.7% from $289,900 On 09-23

Previous Sales:
Sold on 2005-05-13 for $343,000

MLS# 60094297      Google Maps
Assessed Value       Property Tax Bill



2057 Danvers Way
Sacramento, CA 95832
Total Loss: $58,000Percent Loss: 14.2%
Asking Price: $350,000
Bedrooms:3    Baths: 2    Sq. feet:1662

Previous Sales:
Sold on 2004-12-15 for $332,000
Sold on 2005-08-12 for $408,000

MLS# 60104931      Google Maps
Assessed Value       Property Tax Bill



7718 Beth St
Sacramento, CA 95832
Total Loss: $56,100Percent Loss: 14.5%
Asking Price: $329,900
Bedrooms:3    Baths: 2    Sq. feet:1638

Asking Price Changes:
Down 8.1% from $359,000 On 04-27

Previous Sales:
Sold on 2004-05-13 for $277,000
Sold on 2005-05-17 for $386,000

MLS# 60041762      Google Maps
Assessed Value       Property Tax Bill



141 Briggs Ranch Dr
Folsom, CA 95630
Total Loss: $56,000Percent Loss: 8.7%
Asking Price: $589,000
Bedrooms:4    Baths: 3    Sq. feet:2020

Asking Price Changes:
Down 14.5% from $689,000 On 04-09

Previous Sales:
Sold on 2005-05-31 for $645,000

MLS# 60103744      Google Maps
Assessed Value       Property Tax Bill



5026 Creek View Way
Sacramento, CA 95841
Total Loss: $55,000Percent Loss: 13.1%
Asking Price: $365,000
Bedrooms:4    Baths: 2    Sq. feet:1904

Previous Sales:
Sold on 2005-07-08 for $320,000
Sold on 2006-03-02 for $420,000

MLS# 60095216      Google Maps
Assessed Value       Property Tax Bill



11769 Loisdale Way
Rancho Cordova, CA 95742
Total Loss: $54,500Percent Loss: 12.5%
Asking Price: $380,000
Bedrooms:4    Baths: 3    Sq. feet:2139

Asking Price Changes:
Down 20.7% from $479,000 On 08-05

Previous Sales:
Sold on 2005-10-28 for $434,500

MLS# 60106338      Google Maps
Assessed Value       Property Tax Bill



5855 13th St
Sacramento, CA 95822
Total Loss: $53,050Percent Loss: 10.3%
Asking Price: $459,950
Bedrooms:3    Baths: 2    Sq. feet:1907

Asking Price Changes:
Down 8.0% from $499,950 On 06-01

Previous Sales:
Sold on 2005-09-29 for $513,000

MLS# 60057500      Google Maps
Assessed Value       Property Tax Bill



5420 Birk Way
Sacramento, CA 95835
Total Loss: $52,500Percent Loss: 12.5%
Asking Price: $367,500
Bedrooms:3    Baths: 2    Sq. feet:1776

Previous Sales:
Sold on 2005-04-21 for $420,000

MLS# 60112593      Google Maps
Assessed Value       Property Tax Bill



1814 Zurlo Way
Sacramento, CA 95835
Total Loss: $52,000Percent Loss: 13.4%
Asking Price: $335,000
Bedrooms:3    Baths: 2    Sq. feet:1358

Previous Sales:
Sold on 2005-04-26 for $387,000

MLS# 60112030      Google Maps
Assessed Value       Property Tax Bill



9968 Autumn Sage Way
Elk Grove, CA 95757
Total Loss: $51,500Percent Loss: 11.5%
Asking Price: $395,000
Bedrooms:3    Baths: 2    Sq. feet:1708

Asking Price Changes:
Down 11.2% from $445,000 On 06-22
Down 9.2% from $435,000 On 07-22

Previous Sales:
Sold on 2005-10-06 for $446,500

MLS# 60067888      Google Maps
Assessed Value       Property Tax Bill



15 Yardis Ct
Sacramento, CA 95833
Total Loss: $51,000Percent Loss: 12.9%
Asking Price: $345,000
Bedrooms:3    Baths: 2    Sq. feet:1479

Previous Sales:
Sold on 2005-10-03 for $396,000

MLS# 60110479      Google Maps
Assessed Value       Property Tax Bill



6913 Richman Way
Sacramento, CA 95828
Total Loss: $50,500Percent Loss: 15.9%
Asking Price: $267,500
Bedrooms:3    Baths: 2    Sq. feet:1345

Asking Price Changes:
Down 13.4% from $309,000 On 07-28
Down 9.3% from $295,000 On 09-02

Previous Sales:
Sold on 2005-07-26 for $318,000

MLS# 60085061      Google Maps
Assessed Value       Property Tax Bill



9890 New Hope Rd
Galt, CA 95632
Total Loss: $50,000Percent Loss: 7.7%
Asking Price: $599,000
Bedrooms:4    Baths: 2    Sq. feet:2215

Asking Price Changes:
Down 19.1% from $740,000 On 04-21
Down 14.4% from $699,950 On 05-04
Down 11.3% from $675,000 On 06-01

Previous Sales:
Sold on 2005-04-22 for $649,000

MLS# 60108138      Google Maps
Assessed Value       Property Tax Bill



7197 Snowy Birch Way
Sacramento, CA 95823
Total Loss: $49,000Percent Loss: 13.0%
Asking Price: $329,000
Bedrooms:3    Baths: 2    Sq. feet:1464

Asking Price Changes:
Down 11.1% from $370,000 On 07-15
Down 4.6% from $345,000 On 07-28

Previous Sales:
Sold on 2004-05-12 for $270,000
Sold on 2005-07-06 for $378,000

MLS# 60078096      Google Maps
Assessed Value       Property Tax Bill



9404 Sea Cliff Way
Elk Grove, CA 95758
Total Loss: $47,500Percent Loss: 10.0%
Asking Price: $427,000
Bedrooms:4    Baths: 2    Sq. feet:2056

Asking Price Changes:
Down 13.7% from $495,000 On 04-21
Down 10.1% from $475,000 On 08-14

Previous Sales:
Sold on 2005-06-08 for $474,500

MLS# 60089651      Google Maps
Assessed Value       Property Tax Bill



8168 Saddlebrook Ct
Sacramento, CA 95828
Total Loss: $46,000Percent Loss: 12.6%
Asking Price: $319,000
Bedrooms:4    Baths: 2    Sq. feet:1442

Previous Sales:
Sold on 2005-06-30 for $365,000

MLS# 60105083      Google Maps
Assessed Value       Property Tax Bill



8817 Amberjack Way
Sacramento, CA 95828
Total Loss: $45,000Percent Loss: 9.2%
Asking Price: $445,000
Bedrooms:5    Baths: 2    Sq. feet:2504

Asking Price Changes:
Down 2.2% from $455,000 On 07-28

Previous Sales:
Sold on 2005-12-13 for $490,000

MLS# 60080382      Google Maps
Assessed Value       Property Tax Bill



5224 Alderberry Way
Sacramento, CA 95835
Total Loss: $44,050Percent Loss: 10.1%
Asking Price: $389,950
Bedrooms:3    Baths: 2    Sq. feet:1510

Previous Sales:
Sold on 2005-04-21 for $434,000

MLS# 60109338      Google Maps



8651 Cordoniz Ct
Orangevale, CA 95662
Total Loss: $44,000Percent Loss: 12.8%
Asking Price: $299,000
Bedrooms:3    Baths: 2    Sq. feet:1117

Asking Price Changes:
Down 19.0% from $369,000 On 07-08
Down 12.1% from $340,000 On 07-28
Down 6.6% from $320,000 On 08-26

Previous Sales:
Sold on 2005-03-10 for $343,000

MLS# 60096497      Google Maps
Assessed Value       Property Tax Bill



6117 Lemon Bell Way
Sacramento, CA 95824
Total Loss: $42,100Percent Loss: 10.5%
Asking Price: $357,900
Bedrooms:4    Baths: 3    Sq. feet:2000

Asking Price Changes:
Down 3.2% from $369,900 On 08-26
Down 0.6% from $359,900 On 09-02

Previous Sales:
Sold on 2005-09-30 for $400,000

MLS# 60092060      Google Maps
Assessed Value       Property Tax Bill



7986 Springarden Way
Sacramento, CA 95828
Total Loss: $42,000Percent Loss: 11.4%
Asking Price: $325,000
Bedrooms:3    Baths: 2    Sq. feet:1350

Asking Price Changes:
Down 16.9% from $391,000 On 04-09
Down 18.5% from $399,000 On 04-15

Previous Sales:
Sold on 2005-08-02 for $367,000

MLS# 60108741      Google Maps
Assessed Value       Property Tax Bill



942 Blackwell Way
Galt, CA 95632
Total Loss: $41,000Percent Loss: 9.3%
Asking Price: $399,000
Bedrooms:3    Baths: 2    Sq. feet:1691

Asking Price Changes:
Down 12.3% from $454,900 On 06-09
Down 11.3% from $449,900 On 06-30
Down 9.3% from $439,950 On 07-15
Down 9.3% from $439,850 On 08-05

Previous Sales:
Sold on 2005-06-14 for $440,000

MLS# 60087174      Google Maps
Assessed Value       Property Tax Bill



4925 15th Ave
Sacramento, CA 95820
Total Loss: $40,625Percent Loss: 15.8%
Asking Price: $216,375
Bedrooms:3    Baths: 1    Sq. feet:1134

Previous Sales:
Sold on 2006-07-12 for $257,000

MLS# 60085485      Google Maps
Assessed Value       Property Tax Bill



2034 Granite Bar Way
Gold River, CA 95670
Total Loss: $40,100Percent Loss: 5.8%
Asking Price: $649,900
Bedrooms:4    Baths: 2    Sq. feet:3100

Asking Price Changes:
Down 5.8% from $689,999 On 04-09
Down 4.4% from $679,900 On 06-22
Down 1.5% from $659,900 On 07-15

Previous Sales:
Sold on 2005-08-08 for $690,000

MLS# 60078865      Google Maps
Assessed Value       Property Tax Bill



9217 Gambier Ct
Sacramento, CA 95829
Total Loss: $40,000Percent Loss: 11.3%
Asking Price: $315,000
Bedrooms:3    Baths: 2    Sq. feet:1277

Previous Sales:
Sold on 2006-04-21 for $355,000

MLS# 60109765      Google Maps
Assessed Value       Property Tax Bill


Total 324 in Sacramento County
Go to Part II

7 comments :

Anonymous said...

Max, I just noticed that you have Placer, El Dorado, & Yolo County FIT listings now, in addition to three parts for Sacramento! I did not notice that last week, when you first posted that info. Very nicely done. Now bubble sitters in all 4 counties can see the GFs & FBs in their own areas. It is amazing and troubling.

Anonymous said...

The property on Natoma (#1 on your list) may be part of a multiple property purchase/sale. That owner has more properties on Natoma, may have extracted a value from this, moved a property line or ? before selling.

Cow_tipping said...

Breaking the $200/sqft mark.
http://sacramento.craigslist.org/rfs/219104146.html
http://sacramento.craigslist.org/rfs/219112330.html
Oddly, its not satisfying enough. I remmeber when they were at a hundred and under a sqft.
In 97-98 they had so much overbuilt they couldn;t give it away.
Cool.
Cow_tippin

Anonymous said...

I have been tracking a few Flippers in Trouble in the LA South Bay area for a few months now. Check out the latest Flippers in Trouble that I spolight.

Anonymous said...

Srinath,

Yes, anything over $200/sf is a non-starter these days. I know of a brand new 4000 sf home in Placer County for $600,000. It has been sitting vacant for 9 months. That is $150/sf. The buider has "sold" it 3 times and it always falls out. It seems nothing was under $225/sf in 2005, now we are approaching $150/sf. That is a 33% drop and it is happening for real.

You mentioned $100/sf was the average price in 1998. So if we take an annual rate of inflation at 3% from '98, that would dictate a home price of $123/sf in 2006. That seems about right, given rent levels and personal income growth. That would be a 45.3% reduction off $225/sf. That may be right in line with a 2008-2009 bottom.

Anonymous said...

Srinath,

I just came across this deal in Lincoln, on CraigsList.com. Evidently a local Realtor will check out all the builders and take you to the best deal. The one he mentions looks like the Centex add this weekend for Lincoln. 2498 sf one story house, 3+den/2ba/3car, for $447,421. And the broker says he can grind the builder lower! $179/sf, brand new home with incentives and possibly a lower price. So there you have it, the $200/sf is history. The builders are still building....so they can obviously make money at these levels. When they start pressuring the subs for lower costs and material prices fall, they will reduce prices more. One contractor told me lumber is down 20%.

This market is going to be very different for a very long time.

Anonymous said...

24 new foreclosure NOD's filed yesterday in Placer County. Some pretty big numbers, including Los Lagos for $1,000,000 and 6 others over $500,000. They are coming in big waves now. After the banks own them for a year, I might have to pick one off. No reason to hurry. Prices may stagnate for years now.