Folsom, CA Real Estate News

By Anna Boyd, CDPE, El Dorado Sacramento
(Re/Max Gold)
There is still a good selection of homes to choose from with 205 active listings of single family homes, but the numbers are dropping every month. Prices range from a $199,900 3 bed/2 bath home to a 5200 Sq Ft custom home in American River Canyon North for $2,500,000.  There are 45 short sales and 25 REO (bank owned) properties for sale.  There are 91 homes in Folsom priced under $400,000 indicating affordable homes are still available.   There are 94 pending sales with average days on the market at 60.  There are 176 sold listings in the last 3 months indicating great turnover activity. Average days on the market for sold listings are 53. Average list price to sale price is increasing to a fantastic 98.2% rate.
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
Keep an Eye on December 1st, 2009:  The $8,000 tax credit currently available to First Time Home Buyers (defined as those who have not owned a home for the past three years) expires on December 1st, 2009.  Because it usually takes around 45 days to close escrow on a house after a contract is signed, buyers have very little time left to act.  As of Tuesday, Sept. 15, there are only 76 days left before the credit ends.   There has been a recent push, to get Congress to either extend the program, or create a new program that would be available to all home buyers.  The National Association of Realtors points out the current program brought 1.2 million new buyers into the market.  The NAR's concern is, the recent buying frenzy will dry up once the tax credit expires.  Analysts argue that wit...
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By Jeff Hoffman
(Hoffman Realty Group)
Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price and average price per square foot for Folsom homes remained unchanged.  There are 107 Folsom homes that are pending sales representing 25.66% of the available inventory.  The time to sell Folsom homes is currently 116 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916) 983-7653http:...
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By Jeff Hoffman
(Hoffman Realty Group)
Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia. In comparison to two weeks ago, the median sales price has increased to $465,000 from $347,294 and average price per square foot decreased to $177 from $179 for Folsom homes.  There are 102 Folsom homes that are pending sales representing 25.00% of the available inventory.  The time to sell Folsom homes is currently 105 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff...
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By Rowland Fellows
(NorCal Partners Real Estate)
Whenever you buy or sell real estate, you may be like millions of other people out there, in thinking that you don't need a real estate agent. There is a tremendous amount of information about real estate listings available to consumers on the internet. If you are a buyer, having all this information available to you is a great way to get started. Once you're ready to look at homes in person, an real estate agent can significantly improve your productivity. If you are a seller, not hiring a real estate agent can severely reduce your chances of find a buyer within the time frame that you want to sell your home. One great way to select an agent is to solicit referrals from friends, lenders, and even family. Lender referrals for buyers can be a great choice because it is very important tha...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
Folsom, CA REO (BANK OWNED) SALES DATA FOR AUGUST 2009 This is a continuation of my study of more than two years of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in August of 2009. There were 10 REO homes sold in August, exactly half of the number that sold in July.  This is the smallest number of REO homes sold in Folsom during any month for over a year and a reflection of the fact that there are less REO homes on the market.  The average days-on-market dropped from 32 in July to 22 in August.  A full 70% of the REO homes that sold were on the market less than two weeks.  None of the REO homes that sold in August were on the market for more than 90 days.  Most are well priced when they hit the market and they are not lasting long.  The 10 homes sold repr...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
  http://www.BrokersCorp.com | Brokers Inc. Residential Real Estate | 916.850.0484 120 Winterstein, Folsom, CA NO LOCKBOX, shown by appointment only. Call Aaron Cullen - 916.860.0484 - http://www.BrokersCorp.com 3BR/2BA Single Family House   offered at $268,998 Year Built 1986 Sq Footage 1,472 Bedrooms 3 Bathrooms 2 full, 0 partial Floors Unspecified Parking 3 Car garage Lot Size 7,750 sqft HOA/Maint $0 per month DESCRIPTION Come see this amazing value! This home is a short-sale. It will take about a little longer to get this sale through, but it will be worth it. If you have the time, you may get a great deal! My short sales are professionally negoatiated and move as quickly as the bank's red-tape will allow.The kitchen has been remodeled with high-end cabinetry and granite counters. ...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
Thank you for considering Folsom , California - CA as the next place you will live.  Folsom is beautiful, has affordable homes / real estate and is centrally located in Northern California between Lake Tahoe, the Wine Country, the Bay Area and Central and Northern CA.  Outdoor enthusiasts, families, retirees and singles love Folsom as it has something for everyone.  If you are a home buyer and you are considering Folsom, California, you have come to the right place to satisfy your real estate needs. Why do home buyers decide to buy real estate in Folsom, CA?  There are many reasons, but here are the things that appealed to me and my family the most: Small town feeling - Coming from the Bay Area, I found Folsom to have a slower "pace" without having to sacrifice the "big town" amenities ...
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By Jeff Hoffman
(Hoffman Realty Group)
Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia. In comparison to last week, the median sales price and average price per square foot for Folsom homes remained unchanged.  There are 107 Folsom homes that are pending sales representing 25.24% of the available inventory.  The time to sell Folsom homes is currently 58 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916) 983-7653http://w...
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Over 15,000 house fires reported each year originate in the laundry room; failure to clean dryer vents is the number one cause.  Other causes of dryer fires are inferior dryer vent systems or improperly installed dryer vents.   Folsom, CA - Gina Fazil owns Dryer Vent Wizard, a dryer vent cleaning and repair company serving consumers and businesses in Sacramento, Folsom, Elk Grove and neighboring cities in California.  Gina recently performed a dryer vent system inspection for a homeowner in Folsom.  "The customer has a newer home and new appliances, so they were surprised to be having problems," said Gina.  "I explained to the customer that newer homes, where the laundry facilities are located upstairs and away from outside walls require even more extensive maintenance than older homes ...
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By Beth Moran, Always ready to help you with real estate.
(Broker)
How to avoid the used car salesman High school was a great learning experience for me because I learned how to trust my gut. High school is the first time you get to choose which  teachers you have for each class. I soon found  those that I enjoyed I learned a lot from, and those I endured didn't learn much from. By my senior year walking out of a class after the first day and heading to the counseling center to re-schedule wasn't a big deal. I wasn't intimidated and didn't make excuses...if I didn't like a teacher on the first day, it wasn't going to get any better. Searching for a real estate agent is similar to finding a good teacher. You want to find someone who will teach you the ropes and who you can trust to give you good information. After all, a home purchase is statistically ...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
Facing a Foreclosure in Folsom, CA?  At the end of July in 2009, there were 285 homes for sale in Folsom, CA.  The breakdown: 171 "Non-Distressed" listings, 97 "Short Sale" listings and 17 "Bank Owned" listings.  In the same month, there were 48 Non-Distressed sales, 5 Short Sales and 20 Bank Owned sales that closed escrow.  What does this tell us?  28% of the Non-Distressed inventory sold, 5% of the Short Sale inventory sold and 117% of the Bank Owned inventory sold.  Bottom line: If you get foreclosed on, the bank will unload your home quick and cheap.  If you want to avoid foreclosure with a short sale, it can be done, but time is of the essence and there is no margin for error.  If you hire an experienced short sale specialist, the odds of your success will increase exponentially! ...
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By Beth Moran, Always ready to help you with real estate.
(Broker)
In this last market it wasn't unusual for buyers to tell me they were qualified for a home that was well beyond what they could comfortably afford. My next question was geared towards getting them to think realistically about those monthly payments and was something along the line of, "So you can afford to eat every other day?"  We all know how that shook out and are now facing unprecedented challenges in our economy. This brings up the idea of housing affordability and reminded me of the movie Back to the Future. Word on the street is the banking industry is starting to revert to the old 28/36 rule when qualifying consumers for home loans. This tried and true method allows up to 28% of your income to be spent towards housing and caps all debt at 36% to include the PITI, insurance, car...
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By Aaron Cullen, Folsom, El Dorado Hills & Sacramento Real Estate &
(Brokers Inc. Residential Real estate)
The Pace of U.S. Home Sales is Fastest in Two Years:  Sales of previously owned U.S. homes jumped 7.2 percent in July to mark the fastest sales pace in nearly two years in a strong sign that housing is pulling out of a three-year slump.  Sales in July rose for the fourth straight month to hit an annual rate of 5.24 million units, the highest rate since August 2007, the National Association of Realtors said, beating market expectations for a 5 million unit pace. Sales in June had been at a 4.89 million pace.  July's increase was the largest monthly gain since the series started in 1999. The last time sales rose for four consecutive months was in June 2004, the NAR said.  The Realtors group heralded the July sales as a turning point, while some observers offered a more cautious view.  "Th...
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By Jeff Hoffman
(Hoffman Realty Group)
Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.   In comparison to last week, the median sales price for Folsom homes decreased slightly, and the average price per square foot increased by less then 1%.  There are 105 Folsom homes that are pending sales representing 24.25% of the available inventory.  The time to sell Folsom homes is currently 87days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty ...
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By Jeff Hoffman
(Hoffman Realty Group)
Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia. In comparison to last week, the median sales price for Folsom homes remained unchanged, and the average price per square foot increased by 1%.  There are 102 Folsom homes that are pending sales representing 24.11% of the available inventory.  The time to sell Folsom homes is currently 88 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(...
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By Anna Boyd, CDPE, El Dorado Sacramento
(Re/Max Gold)
Folsom continues to be one a bright spot in the real estate market. There is an excellent selection of homes to choose from with 288 active listings of single family homes. Prices range from a $129,600 2 bed/1 bath home to a 5200 Sq Ft custom home in American River Canyon for $2,500,000.  There are 47 homes in Folsom priced under $300,000 indicating affordable homes are still available.  There are 93 pending sales with average days on the market at 52 which is an excellent statistic for a seller. There are 190 sold listings in the last 3 months indicating great turnover activity. Average days on the market for sold listings are 52. Average list price to sale price is increasing to a fantastic 98.2% rate.  Anna Boyd - Re/Max Gold El Dorado, Placer, Sacramento Ph: 916-813-3534 Lic. # 0104...
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By Jeff Hoffman
(Hoffman Realty Group)
Here is this week's Folsom Homes Report, for sales activity in the Folsom real estate market as reported by Trulia.  In comparison to last week, the median sales price, and average price per square foot for Folsom homes, remained unchanged.  There are 104 Folsom homes that are pending sales representing 24.76% of the available inventory.  The time to sell Folsom homes is currently 77 days. If you would like a free list of homes for sale in Folsom, would like more information about the City of Folsom or would like to be the first to know about hot new listings before other buyers do, then give me a call at:(916) 983-7653. For free reports on buying and selling and Folsom California Real Estate visit http://www.HoffmanRealtyGroup.com Jeff HoffmanHoffmanRealty Group Inc.(916) 983-7653http:...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
Folsom, CA REO (BANK OWNED) SALES DATA FOR JULY 2009 This is a continuation of my monthly report on Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in July of 2009, the latest in my two year long study. There were 20 REO homes sold in July, six more than sold in June.  The average days-on-market increased to 32, up from 30 in June.  REO homes are still selling quickly.  Of the REO homes sold, 40% were on the market for less than two weeks.  Some of the older inventory has been cleaned out.  Only one of the homes sold was on the market for over 100 days.  The 20 homes sold represent 30.8% of all homes sold in Folsom, up from 24.6 in June.  The cost per square foot of REO homes in June increased to $ 170, up from $ 159 in June.  The cost per square foot of al...
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By Mike West, El Dorado Hills, CA CDPE, CNE, Licensed Loan Origi
(Heritage Oak Properties)
Folsom, CA SOLD home cost per square foot. There are many ways to measure property values in the housing market.  One that Realtors frequently use is the sold property cost per square foot.  This is one of the more valid measurements at our disposal. I have been measuring the sold REO (Bank Owned) property statistics for Folsom, Ca for two years and post a monthly report of our activity. I have decided to compare the sold cost per square foot of REO homes and the sold cost per square foot of ALL homes sold.  The chart below reports those numbers for the past year and one half.  Although there are a few blips, the trends are clear.  Housing prices have fallen consistently during the measurement period. Note that buyers who purchased Bank Owned Homes saved a considerable sum.   
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