Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times | Recycling
Rocklin & Roseville Today Local Events
add event advertise 

Sacramento Foreclosure Discounts: Gone!



The foreclosure discounts here in the Sacramento real estate market are virtually gone, according to a recent housing report.  In the past buyers have come to expect if they bought a foreclosure or short sale property they would get a better deal than if they purchased a non-distressed house.  The disappearance of any significant discount for foreclosures (lender owned properties) and short sales is being caused by the low level of inventory of homes available for sale and the increasing demand from potential buyers.

According to a report issued by the National Association of Realtors (NAR) the nationwide discount for foreclosures has fallen to 7.7 percent.  Sacramento, by comparison, came in with the third lowest discount, 0.7 percent.  The two communities with no discount are Las Vegas and Phoenix.

Meanwhile, the places with the largest foreclosure discounts are:

  • Pittsburgh, Pa. (27.8%)
  • Cleveland (25.8%)
  • Cincinnati (20.2%)
  • Baltimore (20%)
  • New York City (15.5%)

The current supply and demand curve has made the Sacramento area a seller's market with many listing getting multiple over asking price offers within days of going on the market.  We recently submitted an offer for a client in under $200,000 price range in Roseville and received a multiple counter offer which went out to 18 different agents.  Of those, 14 responded with their highest and best offer.  From what I was told, it was a significant over asking price offer of cash which secured the contract on this bank owned property.  There was no discount on this foreclosed property, the lender received a premium.

Not only are buyers having to compete for properties with price, the terms of the offer are becoming increasingly more important.  This makes it very difficult to get a house for first time home buyers who are using low down payment loans such as FHA. 

December has traditionally been a slow time for the housing market as buyers and sellers are engaged in the holidays.  With the new year we should start to see more homes come on the market, especially if we get some good news about the Debt Forgiveness Act being extended which will allow underwater homeowners to short sale their house without worrying about taxes on the forgiven debt.

If you or someone you know is considering buying or selling a house and have questions about if this is a good time, let me know.  You can reach me at the MagnumOne Realty office in Roseville (916-899-6571) or by email to juliej@jalone.com.





Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento

Placer County News Headlines

Roseville Flash Crime Report (2.10.16)Roseville, CA- Police activity and crime log digest summary for the period of February 3-9, 2016.

Roseville Region Gets Influx of Incoming U-HaulsThe Roseville- Sacramento region ranks 2nd in the nation for incoming one-way truck rentals according to recent U-Haul news.

Placer SPCA Seeks Nominations for 2016 Hero AwardsRoseville, CA - Placer SPCA is seeking nominations for the 2016 Hero Awards, to be presented at the 15th annual Funny Bones Comedy & Awards Night

Placer County Moves Forward on Homelessness ApproachContinuing to address homelessness in Placer County and improve the quality of life for residents, the board of supervisors voted unanimously today to pursue a regional approach

Your Health: Not Getting Blood TestsIt is extremely unfortunate that most patients will not even think of going to a doctor until they have symptoms, which

2016 Housing Market UpdateRealtor, Julie Jalone, of MagnumOne Realty in Roseville writes about the housing market performance predictions presented by the chief economist of the National Association of Realtors at a recent conference.

New California Laws for 2016 (Final)Roseville, CA - The final installment for New California laws for 2016.

Placer SPCA Announces 2016 Board of DirectorsRoseville, CA - On January 18th, the Placer SPCA announced the election of its 2016 Roseville, CA - The Placer SPCA recently announced the election of its 2016 Officers for the Board of Directors.

Roseville Gas Price Wars: Under $1.90 a GallonRoseville, CA- Gas prices in Roseville are pushing to lows not seen in a very long time. Costco and ARCO continue to dominate the leaderboard

2016 Subaru Forester: Reliable compact SUVRoseville, CA- The Subaru Forester is a no-frills SUV that embraces Subaru's practical approach to auto making.

$100,000 Gift to Help Local Nursing StudentsRocklin, CA, - Just last month, the Sierra College Foundation received a $100,000 donation to establish an endowment fund to help

Captured: Mexican Nationals found on Foresthill RoadA Placer County Sheriff's deputy just arrested the three men who've eluded capture since Wednesday afternoon.


NEWS: In Case You Missed It