Tuesday, March 23, 2010

Spring Sacramento Realty Market

Year 2010 started with new home sales in Sacramento area with a 4 percent increase from the previous year. Although the second month did not see much of progress in real estate the spring weather is expected to bring more buyers to the market. Spring indeed bring some buyers out this march to browse houses up for sale. Some were just looking, but there were many serious buyers and offers. Buyers with cash have the advantage and Investors with cash offers bought 27 percent of homes sold in Sacramento in February.

The for sale listings have far reduced from 16, 262 in August 2007 to 6521 starting March 2010 in Sacramento, Placer, Yolo and El Dorado counties. People who just moved to Sacramento, People looking for a house for their kids or grandkids, people looking to move closer to work were some of the browsers in the month of March. Potential buyers browsed houses in Land Park, Midtown, Pocket, Elk Grove, and Natomas one spring Sunday.

The prices in Sacramento area is said to have adjusted up to 75% from selling price, coupled with the foreclosures and short sales offers buyers some best deals ever. The downtown Sacramento is booming with demands from investors and corporate relocations. The average price per square feet is at $242.31.

In addition to the weather the things that make home buying in Sacramento attractive and profitable to homeowners this spring would be the two deadlines of April 30 for the Home Buyer Tax Credit of $ 8000 and March 31 for the Federal Reserve Board’s mortgage backed securities purchase program. So buying homes before these deadlines this spring could save buyers big bucks.

First time homebuyers accounted for majority of buyers last year. The trend might continue this spring owing to falling prices, low mortgage rates and the tax credit. Some others might be waiting for the tax credit to be over so that the buying frenzy will slow down bringing down the prices. However, the tax credit in hand this spring is surer than an uncertain price fall later. Unless the congress extends the credit you are better off acting before April 30.

Sacramento real estate has a number of short sales listing and making an offer on them this spring with tax credit as objective will make it difficult, as there is not enough time to enter a contract and close by June 30.

For additional resources and information please visit the following sites.

Resource Links:


Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings:
GreatWest GMAC Consumer Buyer/Seller Blog:

T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings:
GreatWest Videos:
Facebook GreatWest Profile Page:
MySpace GreatWest Blog:
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us:
Global Employee Relocation:
Apply for a Loan:

ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac


Company WordPress Site:http://www.thehomeholders.com

Real Living:http://www.realliving.com

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