Elk Grove, CA Real Estate News

By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
I do enjoy hosting open houses and many times I am surprised at the conversations that I have with those visiting the house.  Mary Margaret helped me stage a house a few years ago.  She added a very large, very nice Scrabble board made by Restoration Hardware on the living room coffee table, then she added words like, home sweet home, to the board.  I thought it was a little over the top, but every person that came through the door that day loved it and had to talk about it.  It is a fun way to get visitors to loosen up and enjoy the open house.When we put our home on the market a couple of weeks ago, we had removed all of our furniture so there was no place to put the Scrabble board.  I was a little worried that I did not have my "ice breaker,"  but everyone did want to talk.  They jus...
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By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
203k - Experience CountsLike anything else experience counts. I was talking with someone the other day from Sacramento when I had to think back to when we started doing FHA 203k consulting. It all started in 1994 when HUD created 203k consultants. We did about 20-30 that first year just in the Sacramento juristiction. Then year after year we did more than a hundred each year in that area and sometimes  as many as 250-300 per year just in the Sacramento area.  That is 28 years serving this community.One of the most interesting onces we did ever was a sale for about $888,000 as I recall. How does this become a 203k you may ask? The maximum loan amount for FHA in Sacramento County was about $450,000 at that time.  What we find out from time to time is that you need to think "out of the box...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
There has been a lot of discussion regarding higher interest rates slowing the real estate market.  I just do not see the evidence of it in the Elk Grove Market.Elk Grove, April 2022The median and average prices are up just over 23% for the year.  The median price is up from $644,000 in April or 6.3%.  The average price is up from $685,879 or 2.5%.  Either way, that is a big increase in pricing for one month.  As you can see, continuous days on market has changed a bit and buyers are not paying quite as much over asking price as last year. I did put my house on the market last week.  It went on the market on Friday and it went pending on Monday.  Houses are still selling quickly.  I do not think what we are seeing is surprising.  When interest rates start rising, many times it spurs buy...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
We put our home on the market last Friday, held two open houses over the weekend and accepted an offer Monday evening.  There was a lot of interest in our place with multiple offers.  Two offers were particularly strong and almost identical.  It made our decision very hard and it was tough being the bearer of bad news to one of the buyers.  The agent called me and asked, "What did I do wrong?"  I had to answer, "Not one thing."  It is just that kind of a market.  An agent and his client can do everything right and still come up just a little bit short.  We feel very fortunate that our home went pending so quickly and hope the rest of the transaction goes smoothly.3412 Babson Drive 
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Our house goes on the market in about two weeks and one of our big projects to get accomplished before putting it on the market was getting our pool tile cleaned. We have some very hard water in Elk Grove.  Believe it or not, the build up on our tiles happened in just two years.  The tile is only two years old!  We did try to maintain it.  We purchased pumice stones and rubbed until we only had little nubs left.  It helped, but only by about 50%.  I didn't think there was much I could do, but a friend recommended Hess Tile Cleaning to me. They drained about 6 inches of water from the pool and then blasted the calcium deposits off the tile with little glass beads.  It is pretty amazing how well the process works.Hess Tile Cleaning in ActionDavid Nieves and Austin Hess did all the work. T...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove continues to experience solid price growth.  The median home price is up 20.9%, year over year, and has risen 2.2% from February's $650,000 number.  Interest rates have not slowed the market down so far.  There has been a bit of an uptick in continuous days on market, but the overall number of days on the market is still low.  It makes sense as qualified buyers move quickly to purchase a new home to avoid even higher interest rates in the future.  This is very similar to what happened last year when prices rose very quickly in the first half of the year, then flattened out over the last half of the year.Real Estate Bubble?Are we in a bubble?  Will prices fall?  I have never been good at predicting the direction of future prices, but this is my strategy for those that own at le...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Our Lakeside Community's main streets are lined with fruitless pear trees.  They have had a few issues over the years.  About three years many were damaged by fire blight and we even lost a few, but they seem to be doing well again and they are simply gorgeous in the spring.  It sure makes it a pleasure to walk through the neighborhood.  If you would like to learn more about the Elk Grove and Sacramento Areas, please subscribe to my YouTube Channel for periodic updates. I am still not sure what time of the year I enjoy better, spring or fall.  The trees are gorgeous in the fall too.  Which do you like better?  If you are looking to purchase or sell a home in the Laguna West-Lakeside area, let me know.  I would love to help.  I have lived in the area since Janurary of 2000 and know the a...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Real Estate Market UpdateAfter taking a brief break in January, the median price has risen again in February to $650,000.  We are starting this year out much like we started last year with rising prices and a very limited supply of homes to purchase.  There are some real uncertainties in the housing market going forward with rising interest rates, rising inflation, including the rise in cost of fuel and the war that Russia just started.  These factors would generally slow the housing market, but it just does not seem to be happening.Homeowners that purchased their home in the last few years (or even the last 10 years) have seen some very high returns on their purchases.  Many have purchased these homes with very small down payments adding a lot of leverage to their returns.  T...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
We are getting our next listing ready for the market and thought it would be fun to share on of the coolest features of the property, the pond.  Imagine coming home to this quiet and relaxing backyard.The pond does have its share of wildlife that visits too.  We spotted four or five turtles enjoying the sun until another man's best friend showed up.There are some carp and catfish in the pond, but the real stars of the pond are the wood ducks.  They visit the pond every year to build and raise their families.  In fact, I think this one is pretty serious about getting pre-approved for a loan and making an offer.  😜  They are beautiful, aren't they?It is a beautiful 3 bedroom, 3 bathroom home sitting on just over two acres, but it will not be ready on the market until July or August.  I wi...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
One of the great things about living in Elk Grove, CA is that we have some pretty wonderful sunsets. Every once in a while, we are blessed with thousands of migrating geese enjoying our National Wildlife Refuge just to the North and East of our neighborhood, Laguna West/Lakeside, at the same time.       Please subscribe to my YouTube Channel if you would like to learn more about the Elk Grove, Ca area and our real estate market. #youtubeshorts #elkgrove #realestate #sunsets  
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Pickleball, it is not just your father's sport any more!Oasis Park-Elk Grove's Best Pickleball CourtsThere are a few places in Elk Grove to play pickleball, but the best place to play is at the Oasis Park.  There are 6 courts and they have excellent lights for playing at night.  My wife and I have been playing here since the park opened and we have found that everyone playing here is very friendly for both beginners and those that have been playing for a while.Other Pickleball Opportunities in Elk GroveHorseshoe Park-Sometimes the Oasis courts can be a little crowded so this is my second favorite place.  There is not real drop in play here so this is a great place to bring friends to play or practice.  There are two pickleball courts lined on each end of a tennis court and you do have t...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Market Update for January 2022Elk Grove Median Value     The median price of homes in Elk Grove did go up about $36,000 from November to December so I was very interested to see what the new year would bring.  The median price fell slightly in January from December's high of $640,000, but not much and it is still up 20% from last year.  We are very much in a competitive market with lots of buyers demand even though interest rates have risen and will likely continue to rise.Market Price RangeFree Monthly Report-What is Your home Worth?     There are two homes prices under $400,000 in Elk Grove this month, 10189 Lofton Court and 5423 Silver Poplar Lane.  The house on Lofton court will not sell anywhere close to that price, though.  It is being sold using a hybrid system between ...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
The prevailing wisdom has always been to head West.  It may have started with Horace Greeley, who said, "Washington is not a place to live in.  The rents are high, the food is bad, the dust is disgusting and the morals are deplorable.  Go West, young man, go West and grow up with the country."  California has matured and it is more applicable these days to say, Go East, young person.In California the taxes are high.  Home prices and rents are high.  California rents went up between 15 to 20% last year.  Regulation continues unabated and, I would say, property rights are being ignored or just plain taken from property owners.  It is a really tough time for small landlords, in particular.  It is likely that it will all get worse in the foreseeable future.  Horace Greeley would not be happ...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Market Update for Elk GroveYear in ReviewIt turned out to be a very good year for homeowners and home sellers in Elk Grove this last year.  Median prices went up 30%, year over year. It is interesting to note that in the last seven months preceding December, the median price had not changed that much.  It remained, on average, at $602,000.  The median price took a sizable jump in December to $640,000.  It looks like the spring buying season might be starting early this year.How did each zip code fair in Elk Grove last year?It has been a few months since I have reported on each zip code in Elk Grove.  So which area saw the best price appreciation.  It was close, but 95757 came in number one with 31% growth in the median price of homes.  95758 was second with 30% growth and 9562...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
How does time move so quickly?  It is hard to believe that I started posting to ActiveRain in 2010.  It is even more difficult to believe that I have never really gone back to review my older posts.  My friend, Joan Cox, gave me the idea to take a look back with her recent year in review post.  Which posts received the most views? Elk Grove Real Estate Update, 1/11/2021                3,711 Painting Baseboards After Floor Installation     3,283 Sacramento County Real Estate Update             3,256 I Want Some Soup                                                     3,109 All the articles were written in January of 2021.  It makes sense that they have the most views over the year.  They were published early in the year and have had a longer time to gather views.  The other thing that ju...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Market, October 2021(Headlines should read Oct. 2020 to Oct. 2021)It was such a beautiful day yesterday that I had to stop and create a short video showing the lake at Laguna West.  Elk Grove really comes alive in the fall, especially in the Laguna West-Lakeside area. It really was a gorgeous day on our lake, but how has the market changed year over year.  You can see that we had a nice rise in prices, but look what has been going on over the last few months. May        $600,000 June       $600,000 July         $605,000 Aug.        $598,000 Sept.       $605,000 Oct.         $610,000 The market has leveled off over the last few months, but there was a .8% rise in prices from September to October.There are 72 homes available to purchase now in the Elk Grove area, still a very lo...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Real Estate Market Update for Laguna West, Lakeside and StonelakeLaguna West, Lakeside and Stonelake are each distinct neighborhoods in Elk Grove.  They are each similar enough that my clients view them as interchangeable so I like to look at the three areas combined.  Year over year growth was very good, but the market is showing signs of leveling off (discussed in my Elk Grove monthly update).  The last five months pricing has been very stable in the Elk Grove Area.I have lived in the Laguna West and Lakeside areas since 2000.  I know the area well.  If you are exploring the area, I would be happy to share my local knowledge with you.  If you are looking to sell your home, I would be happy to send you recent sales data  for your neighborhood and help you get your house ready for the m...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Real Estate Market UpdateSeptember prices are up over 20% year over year, but a steady new trend has emerged over the last five months.  The median price has not changed much at all. May        $600,000 June       $600,000 July         $605,000 Aug.        $598,000 Sept.       $605,000 Home prices have stayed in a tight 1% range.  It really does look like the real estate market has leveled off for the time being.  It will be interesting to see how the rest of the year unfolds.It should be much easier for buyers and sellers to decide appropriate pricing.  At the beginning of the year, prices were going up so fast, it was difficult to know where a house should be priced. A home sold on Laguna Lake this month for $1,000,000.  In my old neighborhood in Lakeside, a home sold for $1...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
     A few weeks ago, I visited Dallas for the Build Conference.  It was put on not by eXp Realty, but by Brent Gove, which I find pretty remarkable.  He invited many of our top agents to speak and it was capped off by Tony Robbins first live appearance since Covid hit.  It was an inspirational conference.  Each of the participants had interesting stories to share, but like most conferences I attend, I kind of forgot how great some of the stories were.  Brent Grove has posted videos of each of the speakers, including this one featuring my favorite speaker of the event, Krista Mashore.     Krista tells the fascinating story of her childhood up to her successful career today.  Real estate can really turn people's lives around.  Krista is a real example of that.  She is an inspiration and ...
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By Ray Henson, Realtor
(eXp Realty of California, Inc. (lic. #01878277))
Elk Grove Market Update, August 2021-Seasonal Slowing?     Elk Grove is showing strong price growth year over year, but look at the median price over the last few months; April     $557,000 May      $600,000 June     $600,000 July       $605,000 Aug.      $598,000       The month over month median price growth has leveled off the last few months.  Also, the continuous days on market has gone form 11 days in August to 23 days on our current homes on the market for sale.  It sure looks like we are having a more normal last half of the year exhibiting some seasonal slowing.     If you are a home buyer that has been frustrated with the very heated market in the first half of the year, this could be a good time to re-engage in your home search.  The market is not slow, but there definitely i...
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