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Sept 2012 Real Estate Market Update

09/22/2012 by 2 Comments

Watch the September 2012 Real Estate Market Update – Roseville and Rocklin on YouTube

Each neighborhood has it’s own data, but we like to show you what’s going on in our two cities.

If you have any questions about what we are observing for buyers and sellers – please email, text (with your name), and/or give us a call.

Definitions + Updates (repeated)

  • Shadow Inventory: Homes that may have been issued a NOD, or home is a REO / foreclosure
  • REO: Foreclosure (sometimes called a REPO) “Real estate owned” but means bank-owned – note each REO has it’s own set of bank criteria you might see generalized comments of how to approach REO offers as a buyer.
  • Absorption Rate (number listed is based on a ‘monthly’ scale): defines inventory levels and how many months it would (theoretically) take to get all inventory sold on the active market.
  • Newer Metrolist Addition for short sales: Pending Short Bank Approval. Now our “ACTIVE” and “PENDING” properties are an accurate depiction of actual AVAILABLE (Active) Inventory. Unlike before when “Short Sale Contingent” was the Only Option for Short Sales before they were “bank approved.” “Short Sale Contingent” STILL exists – please note, but it’s not seen as often because of the requirements of the seller to still allow showings and offers.

Coldwell Banker Sun Ridge
916-308-2446 • RosevilleAndRocklin@gmail.com

4011 Woodcreek Oaks #110, Roseville 95747

www.RosevilleAndRocklin.com: Roseville and Rocklin Real Estate and Lifestyle

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  • http://twitter.com/SacAppraiser Ryan Lundquist

    Thorough update. It’s amazing to see how low inventory is right now.

    • Heather Ostrom

      It really is Ryan. Can you believe it’s below the one month mark? The one thing that’s important for sellers to remember, just because inventory is low, doesn’t necessarily mean you can go over market value with your list price (sit down with your list agent and visit your competition – not just online, but IN PERSON). Buyers are still savvy as to what’s going on … everyone is still seeking a deal. But on the same note, as a buyer, you need to be aware, there’s not much inventory and low-ball offers could keep you out of a home if you’re not considering all variables. These variables are: location of the home (and immediate area), condition of the home, amenities in the immediate area, and is the list price high, low or appropriate to market value? And in our area, school and zoning is also important to many buyers whether it might cause an offer frenzy. I also try to remind people, if you’re looking for your “forever” or long-term … if you find the right fit, sometimes you need to “go for it.” Long-term happiness is so important.

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