Monday Real Estate Market Snapshot January 31

Here is the quick rundown on the current real estate market in Folsom and houses for sale here (as of Jan. 31). These numbers reflect properties listed by a variety of broker members of our local MLS.

·         371—number of homes for sale (including short sales and bank-owned homes or REOs)

·         $299,900—median price of homes for sale

·         111—average days on the market

The numbers for the short sale listings:

·         194—number of short sales on the market

·         $275,000—median listing price

·         136—average days on the market

The numbers for the REO listings:

·         43—number of short sales on the market

·         $274,900—median listing price

·         44—average days on the market

The numbers tell the story. These numbers were pulled from MetroList, our local multiple listing service, yesterday afternoon. all4now

Planning a remodel? Here’s what homeowners say they want most

In December, Better Homes and Garden conducted a survey of its readers to find out what remodels or improvements homeowners most desire in their homes.

Here are the six spaces that ranked highest:

Ø  Separate laundry room

Ø  More storage and built-ins

Ø  Home office

Ø  Outdoor grilling/living area

Ø  Second bedroom with a private bath

Ø  Eating space close to the kitchen

Have a relaxing Saturday! all4now

Might as well laugh with them

Realtors have a sense of humor too! Here's a joke found on the Internet to brighten your Friday a bit:

A real estate agent just closed his first deal and finds out the land he sold is now completely underwater. He goes to his boss and says, “The buyers are going to come back here pretty mad when they find out. Should I give them their money back?” “Money back?” roars his boss. “What kind of salesman are you? Get out there and sell them a houseboat!”

TGIF! all4now

Folsom December 2010 Market Stats Up and Down

Today it's my monthly review of what the Folsom real estate market looked like last month, December 2010. Whether you are a home buyer or seller, I believe that the better informed you are the better your real estate decisions will be. So here goes.

As you'll see in the graph above, provided by TrendVision, in December, 238 homes were listed for sale in Folsom (that's for single family residences, if you want the numbers for condos, just drop me a line). That number was down slightly from November 2010 and up a whopping 55.6% from December 2009. Some 61 homes were sold in December, just one down from the previous month but down almost 13% from December '09. However, a big uptick on the number of homes that went pending (i.e., went into escrow): 83 homes in December 2010, up 45.6% from December '09, and up 22.1% from November 2010.

Price per square foot: In December 2010, the average price per square foot of homes sold was $162, that was slightly down from November ($164) and down 5.6% from December '09.

Average cumulative days on market: In December the average cumulative days on market was 96, up 33.3% from December '09.

Months' Inventory: In December, the months of inventory we had in Folsom was 3.9 months, continuing a downward trend from the high of 5.8 months in September but still well above the 2.2 months' of inventory we had a year ago.

And, finally, the big money question:
Median Sales Price: The median sales price in December 2010 was $320,000, down 13% from a year ago.

So there you go a quick snapshot of what the real estate market is doing in Folsom. all4now

Recent Home Sales in Lexington Hills, Aug. 2010-Jan. 2011

Today, I decided to take a look at home sales in the past six months in Folsom’s Lexington Hills neighborhood. Following are the specifics of the 19 sales recorded since August 2010 by MetroList and the stats for those sales. The first numbers after the street address are the number of bedrooms, followed by the number of bathrooms. If you’d like more specifics about any of these sales, just drop me a line and I’ll get you that quickly.

Ø  406 S Lexington Dr, 4/3, 2452 sq ft, $285K

Ø  104 Silberhorn Dr, 3-4/2, 1639 sq ft, $290K

Ø  353 Prewett Dr, 3/2, 1757 sq ft, $292K

Ø  128 Silberhorn Dr, 4/3, 2426 sq ft, $306K

Ø  109 Ainsworth Way, 3/3, 1742 sq ft, $309,900

Ø  445 N Lexington Dr, 2/3, 1742 sq ft, $320K

Ø  128 Taunton Way, 4/3, 2125 sq ft, $329K

Ø  133 Baurer Cir, 4/3, 2256 sq ft, $350K

Ø  139 Thorndike Way, 4/3, 2263 sq ft, $354K

Ø  183 Keller Circle, 4/3, 2435 sq ft, $361,500

Ø  474 S Lexington Dr, 4/3, 2256 sq ft, $375K

Ø  108 Chenery Ct, 4/3, 2453 sq ft, $379K

Ø  463 S Lexington Dr, 4/2, 1939 sq ft, $390K

Ø  105 Paine Ct, 4/2, 2023 sq ft, $390K

Ø  218 Wellfleet Cir, 5/3, 2600 sq ft, $394K

Ø  113 Dunstable Way, 4/2, 2386 sq ft, $415K

Ø  100 Chadwick Way, 5/3, 2585 sq ft, $415K

Ø  101 Keller Circle, 5/3, 3000 sq ft, $449K

Ø  104 Lyndeboro Ct, 6/3, 3827 sq ft, $555K

Statistics for these sales

All sales:

·         Total: 19

·         Median price: $361,500

·         Average days on market: 65

·         Average price per square foot: $161

Short sales:

·         Total: 3

·         Median price: 361,500

·         Average days on market: 110

·         Average price per square foot: $160

Foreclosure sales:

·         Total: 5

·         Price: $306,000

·         Days on market: 59

·         Price per square foot: $144

This info is reported as accurately as I can but as I’m using data from the MLS, I recommend you make sure to independently verify the accuracy of this information before you make any decisions based on it.

Folsom homes for sale this Monday Jan. 24

For today, it’s a quick rundown on the current real estate market in Folsom and houses for sale here. Not much change again this week for homes listed for sale this Monday:

·         377—number of homes for sale (including short sales and bank-owned homes or REOs)

·         $307,000—median price of homes for sale

·         111—average days on the market

The numbers for the short sale listings:

·         190—number of short sales on the market

·         $275,000—median listing price

·         137—average days on the market

The numbers for the REO listings:

·         41—number of short sales on the market

·         $284,900—median listing price

·         52—average days on the market

The numbers tell the story. These numbers were pulled from MetroList, our local multiple listing service, yesterday afternoon. all4now

Recent Folsom Home Sales posted Jan. 19

Here are some recent home sales in Folsom, as pulled from MetroList on Jan. 19, 2011:

·         505 Coloma St, 2 bed, 1 bath, 919 sq ft, sold 1/18/11 for $210K

·         117 Winchester Ct, 3 bed, 2 bath, 1371 sq ft, sold 1/13/11 for $255K

·         876 Holley Ct, 3 bed, 2 bath, 1295 sq ft, sold 1/14/11 for $260K

·         197 Barnhill Dr, 3-4 bed, 3 bath, 1930 sq ft, sold 1/14/11 for $284,900

·         106 Baldwin Lake Ct, 3 bed, 2 bath, 2230 sq ft, sold 1/18/11 for $306K

·         196 Silberhorn Dr., 3 bed, 2 bath, 1757 sq ft, sold 1/13/11 for $309K

·         134 Burrill Dr, 5 bed, 3 bath, 2585 sq ft, sold 1/13/11 for $329K

·         133 Baurer Cir, 4 bed, 3 bath, 2256 sq ft, sold 1/13/11 for $350K

·         1702 Bowen Dr, 3 bed, 3 bath, 2278 sq ft, sold 1/14/11 for $391K

Wondering about a recent sale or any current homes for sale in Folsom, drop me a line and I’ll look it up for you! all4now

Weekly Market Stats Homes for Sale in Folsom 1-18-2011

For today, it’s a quick rundown on the current real estate market in Folsom and houses for sale here. Overall, not much change with just a slight uptick in the number of homes listed this week:

·         377—number of homes for sale (including short sales and bank-owned homes or REOs)

·         $308,000—median price of homes for sale

·         111—average days on the market

The numbers for the short sale listings:

·         184—number of short sales on the market

·         $277,450—median listing price

·         140—average days on the market

The numbers for the REO listings:

·         46—number of short sales on the market

·         $287,400—median listing price

·         54—average days on the market

The numbers tell the story. These numbers were pulled from MetroList, our local multiple listing service, yesterday afternoon. all4now

Curb appeal important for more than just aesthetics when buying a home

When I'm working with sellers, as they get ready to put their home on the market, I discuss with them the importance of staging their home so it looks its best. Curb appeal is part of that process. A recent survey by Relocation.com now shows that 75 percent of Americans believe that the most important factor in determining a neighbhorhood's safety is the up-keep of surrounding homes, especially the conditions of the front lawns. Interestingly the same survey shows that buyers give less weight to the fact that a community is gated with security patrols! So curb appeal of a house and that of its neighbors is proving to be an aesthetic issue but also, in the minds of buyers, one that reflects whether a neighborhood may be safe or not. What do you think? all4now

Home buying tip No. 44

Here’s a tip to keep in mind when buying a home:

No. 44. Early on in your home search ask your Realtor for a blank sales contract to take with you and look over at your leisure. That way you can get comfortable with the document before you are actually ready to make an offer and sign a contract. Also don’t assume that everything you see in the house (especially items such as drape) conveys. If you want it, ask for it.

all4now

Folsom homes for sale--by the numbers

For today, it’s a quick rundown on the current real estate market in Folsom and houses for sale here:

·         371—number of homes for sale (including short sales and bank-owned homes or REOs)

·         $307,000—median price of homes for sale

·         111—average days on the market

The numbers for the short sale listings:

·         186—number of short sales on the market

·         $275,000—median listing price

·         138—average days on the market

The numbers for the REO listings:

·         49—number of short sales on the market

·         $289,900—median listing price

·         49—average days on the market

The numbers tell the story. These numbers were pulled from MetroList, our local multiple listing service, yesterday afternoon. all4now

Planning to buy a home in Folsom in 2011?

Anyone seriously considering the purchase of a home in 2011 needs to be paying attention to mortgage rates. After hitting a low of 4.32 percent for a 30-year fixed-rate loan in early September, rates have crept up. And the chief economist for the National Association of Realtors, Lawrence Yun, is saying that mortgage rates could rise to 5.7 percent this year and go as high as 6.2 percent in 2012. Now those would still be pretty good rates compared especially with the double-digit rates some of us remember from years ago. But here is a simple formula regarding mortgage rates that Mike Stitt of Summit Funding recently sent me. It makes a powerful point:

“In simple terms, every 1% increase in home loan rates decreases the buying power of an individual by 10% in home price. This means that if you qualify for a home priced at $200,000 today and interest rates increase 1%, the amount you could qualify for would be reduced to approximately $180,000 to maintain the same payment.”

So, again, anyone serious about buying a home in the near future should keep this information in mind in their decision making. all4now

Thinking of Buying a Home? Then Pay Attention to Your Credit Score Now

If you are planning to buy a home this year, it's a good idea to review your credit score as soon as possible. You don't want to find out the hard way how important a good credit score can be to your ability to get a home mortgage, especially in the current financial market. Don't fall into the trap of thinking that you know what's on your credit report, as problems can occur you're unaware of. Then you'll find yourself trying to sort out credit issues while trying to convince a lender that you're a good risk for a mortgage. It's simple and free (once a year) to check your credit score. Just go to: annualcreditreport.com and follow the instructions. There is a fee however to get your full credit report. Once you have it, check it carefully for anything that may be erroneous. And, if your credit score is lower than you'd like, you can take steps to try and improve it. There are different tactics to help with this.The following web site has some useful tips: http://www.myfico.com/crediteducation/improveyourscore.aspx. all4now

A new year, a new blog

Those of you who know me, know I've been blogging for a few years, something I've enjoyed. But for some time now I had been unhappy with the blog platform so decided for the new year why not just start anew on another blog site and take the opportunity to improve the blog. So here you have it: the Folsom Home Buyer blog. Hope you find it useful and look forward to hearing from you! all4now