![]() 808 Natoma St Folsom, CA 95630 |
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![]() 12045 Mandolin Way Rancho Cordova, CA 95742 |
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![]() 7217 Pine Grove Way Folsom, CA 95630 |
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![]() 8756 Rubystone Ct Elk Grove, CA 95624 |
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![]() 9308 Engleside Ct Elk Grove, CA 95758 |
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![]() 104 Herrill Ct Folsom, CA 95630 |
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![]() 8800 Creek Oaks Ln Orangevale, CA 95662 |
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![]() 6500 Larchmont Dr North Highlands, CA 95660 |
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![]() 104 Brown Duvall Ln Folsom, CA 95630 |
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![]() 5220 Mckellar Ave Sacramento, CA 95824 |
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![]() 6016 14th St Sacramento, CA 95822 |
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![]() 135 Mcfarland Dr Folsom, CA 95630 |
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![]() 6829 Fruitridge Rd Sacramento, CA 95820 |
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![]() 2935 Azevedo Dr Sacramento, CA 95833 |
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![]() 3930 Balverne Ct Antelope, CA 95843 |
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![]() 3879 14th Ave Sacramento, CA 95820 |
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![]() 3337 Mas Amilos Way Sacramento, CA 95835 |
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![]() 3320 9th Ave Sacramento, CA 95817 |
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![]() 2713 16th St Sacramento, CA 95818 |
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![]() 6801 Grant Ave Carmichael, CA 95608 |
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![]() 3133 T St Sacramento, CA 95816 |
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![]() 9435 Soaring Oaks Dr Elk Grove, CA 95758 |
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![]() 3311 Franklin Blvd Sacramento, CA 95818 |
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![]() 7853 Winding Way Fair Oaks, CA 95628 |
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![]() 6549 RIO OSO Dr Rancho Murieta, CA 95683 |
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![]() 5 Northwich Ct Sacramento, CA 95832 |
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![]() 5412 Ravine Creek Way Elk Grove, CA 95758 |
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![]() 7109 Paul Do Mar Way Elk Grove, CA 95757 |
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![]() 7613 Muschetto Ct Citrus Heights, CA 95621 |
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![]() 2057 Danvers Way Sacramento, CA 95832 |
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![]() 7718 Beth St Sacramento, CA 95832 |
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![]() 141 Briggs Ranch Dr Folsom, CA 95630 |
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![]() 5026 Creek View Way Sacramento, CA 95841 |
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![]() 11769 Loisdale Way Rancho Cordova, CA 95742 |
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![]() 5855 13th St Sacramento, CA 95822 |
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![]() 5420 Birk Way Sacramento, CA 95835 |
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![]() 1814 Zurlo Way Sacramento, CA 95835 |
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![]() 9968 Autumn Sage Way Elk Grove, CA 95757 |
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![]() 15 Yardis Ct Sacramento, CA 95833 |
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![]() 6913 Richman Way Sacramento, CA 95828 |
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![]() 9890 New Hope Rd Galt, CA 95632 |
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![]() 7197 Snowy Birch Way Sacramento, CA 95823 |
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![]() 9404 Sea Cliff Way Elk Grove, CA 95758 |
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![]() 8168 Saddlebrook Ct Sacramento, CA 95828 |
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![]() 8817 Amberjack Way Sacramento, CA 95828 |
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![]() 5224 Alderberry Way Sacramento, CA 95835 |
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![]() 8651 Cordoniz Ct Orangevale, CA 95662 |
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![]() 6117 Lemon Bell Way Sacramento, CA 95824 |
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![]() 7986 Springarden Way Sacramento, CA 95828 |
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![]() 942 Blackwell Way Galt, CA 95632 |
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![]() 4925 15th Ave Sacramento, CA 95820 |
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![]() 2034 Granite Bar Way Gold River, CA 95670 |
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![]() 9217 Gambier Ct Sacramento, CA 95829 |
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7 comments :
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.
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.
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
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.
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.
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.
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.
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