In the news

Home Selling Goes Virtual

01/07/16 by Nicholas Kellogg



 

In the current, low inventory market, when a home does go up for sale, buyers pounce and competition becomes fierce, making efficiency and immediacy increasingly pertinent. That’s where the convenience of video streaming comes in.

With video streaming apps like Skype, FaceTime and Periscope, real estate agents can give virtual live tours to clients who can’t physically be at a home to view it. This allows out-of-state buyers and buyers with a busy schedule to have a fair shot at making an offer.
 


NAR Predicts Slowdown in Housing in 2016

11/25/15 by Nicholas Kellogg


"Yun explained that US home sales will barely rise next year – 5.4 million homes will be sold in 2016, up slightly from 5.3 million this year and existing home prices will rise by 4.6% next year, down from the nearly 6% rise this year. He added that rising interest rates, tight inventory and an increase in the number of people priced out of the market will all factor into the market..."


 


Consumers, Labor Market Improvements Have Built Momentum in Housing

10/21/15 by Nicholas Kellogg


ASK THE ECONOMIST:  Why, in your opinion, is this housing recovery more sustainable than the “bubble” from 2005 to 2008?

I like that question a lot. I think what we’re seeing is a cyclical recovery due to the improvement in household incomes and finances, signs of household formation returning, and pent-up demand for housing. The improvement seems to be going hand in hand with the moderate improvement in the overall economy. Finally, the financial conditions that led to the “bubble” are arguably a little more restrained this time around.
 


Why is Sacramento great? This is why

02/20/15 by Nicholas Kellogg

“We’re entering a new era,” said Mayor Johnson, continuing by saying that what we’re seeing now is the rise of Sacramento 3.0, which will take our city from gold town to capital city to a hub of innovation, entrepreneurship, and technology. “This community has so much momentum right now. And you can’t understate that.”

 


Tesla to build a battery for your home

02/11/15 by Nicholas Kellogg

“We are going to unveil the Tesla home battery, the consumer battery that would be for use in people’s houses or businesses fairly soon,” Chief Executive Officer Elon Musk said during an earnings conference call with analysts Wednesday.









 


It's back to business for Sacramento home sales

02/10/15 by Nicholas Kellogg


The seasonal slowdown for resale homes in Greater Sacramento has ended quite abruptly as new escrows in January jumped 44 % over December totals. Closed sales for the month were down 36% over December which was largely attributed to sluggish new escrow figures during the months of November and December. This information was provided by Trendgraphix Inc., a Sacramento based reporting company and reported by Lyon Real Estate.

“People are seeing an economic resurgence in our community and reading all the good news,” says Pat Shea, president of Lyon Real Estate. “Buyer activity is heavily based upon consumer expectations and everything just looks exceptionally positive for Greater Sacramento.”

Active and available homes on the market in the four county region ended January at 4,092. This marked the lowest total since last February and rested 34% below the 2014 high number posted in September. This left a mere 1.8 months of inventory at the current rate of pending sales. Listing numbers are expected to rise by spring however, years of purchases and refinances at low interest rates may keep supply moderate throughout 2015.

The statistics show that 48% of the current inventory is below $350,000, where 62% of the new sales for the entire region occurred last month. A further look also revealed that 42% of the inventory remained in the $350,000 – $750,000 price range where 35% of the sales occurred.

“The entry level and move-up selling season is well underway,” says Shea. “A sustained stability in the median price, hovering near $300,000 and interest rates at or below 4% have buyers back on the move. The upper-end typically gets off to a slower start but rest assured that all of the positive economic metrics have Greater Sacramento positioned for another banner year for homes sales in all price points.”
 


6 Rules to Follow When Pricing A Home

01/27/15 by Nicholas Kellogg


It’s time to move on. You’ve decided to sell your home and embark on a new adventure. Unfortunately, potential buyers don’t care about how long you obsessed over choosing the perfect bathroom tiles or the number of carpenters you interviewed to make the perfect built-in bookcase. To the buyer, those items may not matter to the value of the home, even if you think they should. When it’s time to sell, you have to price your home right, using tangible factors. Here are six rules to remember...


 


ListHub (Move Inc/Realtor.com) to cut off new listings to Zillow

01/06/15 by Nicholas Kellogg


ListHub (a subsidiary of Move, Inc./Realtor.com/NewsCorp) will be cutting off the flow of new listings to Zillow, effective April 7th, 2015.  In response, Zillow has vowed to get more listings straight from multiple listing services and brokers.  (This story has been updated HERE)
 


Important Real Estate related tax extensions

12/30/14 by Nicholas Kellogg


REALTORS® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed.

The legislation also includes one-year extensions of the 15-year depreciation schedule for leasehold improvements and the deduction for improvements to energy efficient commercial buildings.
 


Treasury to Auction Preferred Stock As Part of Effort to Wind Down TARP

11/14/14 by Nicholas Kellogg


The U.S. Department of Treasury has announced its intention to sell some of its preferred Capital Purchase Program (CPP) investments as part of the government's strategy to wind down the Troubled Asset Relief Program (TARP) and recover remaining CPP investments.

Treasury expects to begin the auctions on or about November 17 and close on November 20 at 6 p.m. Eastern Standard Time, and the auctions will be offered to principally to domestic qualified institutional buyers and certain domestic institutional accredited investors.