Where We Were, And Where Are We Going?

Olah!

A year behind us, and a year ahead of us, let’s look at the Sacramento Real Estate stats. Does the fed raising interest rates worry you? What about rental costs rocketing skyward? (And doing so unjustly in my opinion!!)

First of all, lets look at 2015 stats in an info-graphic–

We are looking very, very good!!! I remember when  REO sales were 72% of the market!!!! Egads……

re stats

 

 

 

 

 

 

 

 

And here is a neat little graph that shows you a full year’s activity of listings, pending sales, and closed sales in Sacramento, Placer and Eldorado Counties. Click on the graphics for a better view, click on the URL below and it will give you a link to click on, so you can request a graphic for your specific neighborhood.

http://www.gotrendvision.com/Post2Web.aspx?FtId=c90761f4-64f3-4083-b595-42d764c6122e

TGChartImage

 

 

 

 

 

Freddie Mac is busy making predictions for 2016 housing market, including a slower uptick in values at 4%-4.6% in 2016, and saying that the Feds increase in interest rates shouldn’t immensely effect your new loan rates- but rates could go up some. And seller’s should pay attention to rates as well. An uptick in rates usually means a slow down in sales–as purchases become more expensive–which usually results in a value correction (that’s fancy terminology real estate brokers like to use, which means your homes value goes DOWN with a mortgage loan interest increase).

Says Dee Petee at Academy Mortgage,

dee

“Keep in mind when you hear about the Fed raising interest rates, they are not talking about mortgage interest rates. They are talking about the federal funds rate.

The Fed does not control or determine mortgage interest rates. But, when the Fed does raise the federal funds rate it could affect how investors buy and sell stocks and bonds. If investors buy more stocks and less bonds like mortgage backed securities, mortgage interest rates could rise.  Given this most recent small increase mortgage interest rates have not been affected.

IT IS STILL A GREAT TIME TO BUY”

(yes, that is her real name, and she’d love to help you with your loan. Give her a call at 916-664-5504, or 916-214-4077.  dee.petee@academymortgage.com It’s painless to qualify, really!)

And lastly……goodness!! What is up with the rental rates in Sacramento?!?!  I have a friend in an apartment and lease end to new lease, his rent went from $780/month to $925!! That’s for a 635 sq ft. apartment. WHAT!!?? That’s just crazy! Driven by a national trend, the Sacramento area follows suite with less job growth (2.8% according to the Sac Biz Journal), then other larger growth trending areas. While we moved away from the “it costs less to own than to rent” phraseology, it is on it’s way back into fashion for 2016!  Plus with down payment assist programs, and FHA programs, a buyer can surely find his or her way into home ownership.

Did I leave you with questions? I am here. Give me a call, or email. I make every effort to return mail and phone calls within an hour or less. Sellers, see me first for an extensive marketing plan and a fair valuation of your property! I look forward to helping you!

 

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