SacBee -- Real Estate


    Area's new home starts rose sharply in October

    Capital-area homebuilders started 199 new houses during October in El Dorado, Placer, Sacramento and Yolo counties, a 31 percent hike from September's 152 starts, the California Building Industry Association said Tuesday.

    Starts rose in the region even as they fell statewide by 5.5 percent from September to October. California builders took out 2,815 building permits for single-family homes, apartments, town houses and condos.

    Regionally and statewide, builders are starting far fewer houses than last year. Capital-area homebuilders, weathering the fourth year of a housing slump, have started 2,387 dwellings in the first 10 months of 2009, 51 percent fewer than the same period last year.

    Statewide, builders started 29,901 new residences from January through October, and expect to finish the year at about 36,000. Like last year, that would be the lowest tally since the state started keeping records in 1954.

    Builders in Yuba and Sutter counties started 10 homes in October, down from 20 in September. They started 136 the first 10 months of 2009, compared to 233 the same time last year, CBIA said.



    Home price forecast sees 4.85% gain here

    Sacramento-area home prices will appreciate 4.85 percent in the year between September 2009 and September 2010, a leading house price tracker reported Friday. If so, it would be the capital region's first annual gain after more than four years of declines.

    Santa Ana-based First American CoreLogic made the prediction for the Sacramento-Arden Arcade-Roseville metropolitan statistical area in an analysis of U.S. home prices. The firm included so-called "distressed sales" such as bank repos and short sales in its prediction for the area, which includes El Dorado, Placer, Sacramento and Yolo counties. Short sales require lenders to accept a sales price below the home's loan value.

    The firm said home sales prices in the four counties collectively dropped 12.1 percent between September 2008 and September 2009. That was the same as California as a whole. Nationally, home prices fell 9.8 percent in the same period, First American CoreLogic reported.

    – Jim Wasserman



    Home Front: Door closed on California tax credit for new homes this year

    Say goodbye, finally, to hopes of extending that $10,000 tax credit for buyers of new unoccupied homes in California.

    It's all but dead for this year, says one lobbyist who patrols the state Legislature on behalf of home builders.

    "We were disappointed neither of those bills panned out this year," said Allison Barnett of the California Building Industry Association, a trade group for the residential construction industry. An Assembly bill extending the tax credit to 4,300 more buyers failed to pass in the Senate. A similar Senate bill failed in the Assembly as lawmakers turned their focus to water bills.

    "We're looking for options next year," Barnett said this week. One idea is to establish a tax credit that a buyer could collect only when a building permit is issued for his or her new house. Another is to seek an extension for a few more months. Said Barnett, "We're still looking at details."

    Bottom line, buyers of new houses now approaching escrow or signing sales contracts are out of luck in the near term for a state credit. But check out the federal government's $8,000 first-time buyer tax credit, which has been extended to April 30.

    More than 10,600 new-home buyers claimed the $10,000 state tax credit earlier this year.

    First-timers lift market

    Look who is propping up almost half the U.S. residential real estate market. It's that crowd of singles and couples buying their first houses – roughly 47 percent of home sales the past year. The number comes from the National Association of Realtors, which calls it a record high since it started tracking the stats in 1981.

    Chalk it up to $8,000 tax credits, growing affordability from falling prices and demand that became pent up when prices skyrocketed this decade, says the trade group for real estate agents.

    The NAR said 96 percent of these buyers used a safe fixed-rate mortgage. Six in 10 first-timers used savings to make a down payment and 22 percent got help from relatives, mostly parents. The rest tapped a 401(k) fund or sold stocks and bonds for a payment.

    The findings come from an eight-page questionnaire mailed to 120,000 buyers who bought between July 2008 and June 2009. About 9,100 buyers filled it out.

    A new surge of refinances

    Refinancing activity is picking up again, insiders say, as mortgage rates have held steady below 5 percent for several weeks now.

    "For the last week or so we've tested our year lows," said Brent Wilson, senior loan consultant at Sacramento's Comstock Mortgage. He said Tuesday's rates this week were among the year's lowest, alongside other lows on Oct. 2, May 21 and Jan. 8.

    The 30-year fixed-rate loan averaged 4.83 percent this week before points, federal mortgage giant Freddie Mac reported Thursday. Last week's rate averaged 4.91 percent. Rates have stayed below 5 percent for six of the past seven weeks.

    Nationally, the Mortgage Bankers Association noted that the refinance share of mortgage applications is the highest since May. About 73 percent of last week's applications were for refinancing.

    Wilson said that percentage is partly seasonal; fewer people buy this time of year.

    Housing: Back to the future

    If you're among those who think we've seen enough new beige-colored houses for a while, here's welcome news.

    It will take until 2016 for area builders to get back to production levels of 1999.

    That's a prediction from Folsom building industry consultant Greg Paquin. He sees a 2016 with 10,921 sales in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties. That would compare with 10,656 in 1999.

    This year's expected sales totals in the region: 3,048.

    Paquin still calls current events in the capital region "an economic recession and a housing depression."



    Capital region home prices falling, but mostly by single digits

    Home sales in the Sacramento area improved again in September.

    Sacramento-area home prices are still falling compared to a year ago, but for the first time in almost 2 1/2 years, their decline can be measured in single digits.

    In some parts of the state, including the Bay Area, prices are even starting to creep up again.

    Sacramento County's $180,000 October median sales price was just 7.7 percent below the median price in October of last year – the first single-digit annual drop since June 2007, researcher MDA DataQuick reported Thursday.

    That number represents a significant improvement from 2008, when prices tumbled as much as 37 percent year-over-year as banks dumped foreclosure properties. Banks have since been slower to foreclose and flood the market.

    Placer and Yolo counties showed similar pricing trends for new and existing homes combined during the month of October, suggesting that a long, frightening free-fall in area home values is slacking.

    "Prices are rational now," said Dean Wehrli, who tracks the Sacramento market as vice president of Sullivan Group Real Estate Advisors. "We've gotten back to the historically normal income-to-housing price ratio."

    Though the trend is certainly welcome to area homeowners, it doesn't mean an end soon to the housing downturn that has wracked the region for four years and spread 47,000 foreclosures across its eight counties since the start of 2007.

    Unemployment stands at 11.8 percent in the capital region and may rise, while thousands of state workers have been forced to take furloughs that have cut their incomes by 14 percent. Thousands more households still struggle with risky loans and owe more than their homes are worth.

    In total, 10.5 percent of California's residential property owners are behind on payments, the Mortgage Bankers Association said Thursday. An additional 5.83 percent are between a notice of default and foreclosure.

    Nonetheless, Placer County's $298,000 median October sales price was down just 6.9 percent from October 2008, DataQuick reported. The county also posted a single-digit annual drop in August – its first since October 2007. Median is the point where half the homes sold for more and half for less.

    Yolo County, too, saw a pair of single-digit annual declines in September and October after almost three years of far bigger drops. Its $255,000 October median is down 8.8 percent from October 2008.

    Michael Lyon, head of Sacramento's Lyon Real Estate, said, "If anything, we'll see appreciation in the first quarter, especially in the lower end."

    That's already begun in some parts of California as the share of bank repos in the sales mix continues to drop, and the remaining repos include more expensive homes foreclosed upon after owners lost their jobs.

    The nine-county Bay Area saw its first year-over-year increase in median sales prices in two years during October. Santa Clara County saw prices rise 4.8 percent over the same time last year. San Diego County posted its first year-over-year gain in three years. Orange County saw its second straight month of year-over-year gains.

    DataQuick analyst Andrew LePage said, "We're looking at a market moving back toward a normal mix of sales across neighborhoods and price ranges. For the most part it reflects fewer foreclosures and, in some cases, more mid- to high-end sales."

    Regionally, El Dorado County proved an exception to the trend. Its upper-end housing market especially struggles with fewer buyers and the necessity of cutting prices hard to win them. October sales prices there were down 25 percent from a year earlier, DataQuick reported.

    Buyers and sellers closed escrow on 3,670 houses in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties during October, DataQuick reported. That was up from 3,454 in September – the highest tally since July as buyers rushed in before an $8,000 tax credit – now extended – was scheduled to expire.

    Though they remain below last year's levels, median prices in Sacramento and Placer have started to show month-over-month increases.



    If Sacramento area's housing climate ever revives, builders are ready

    Justin Alcala of The Masonry Group applies grout to stone veneer on a house being built last week at Glenbrooke in Elk Grove. The Del Webb community for people 55 and older has lots for 631 homes, with 280 already sold. Developers hope a turn-around in the economy will speed more construction projects.

    Despite the down economy, major projects designed to produce tens of thousands of new homes in the Sacramento region within the next two decades are poised to take off.

    They are waiting in the wings in Folsom, Elk Grove, Rancho Cordova, eastern Sacramento County and south Placer County.

    Developers acknowledge the market continues to be difficult, but remain hopeful of a turn-around.

    President Greg Paquin of the Gregory Group said new-home sales continue to lag in the region. "We're not going to see robust sales," he said. "We're telling people it's going to be a long, slow run."

    But he added, "There's a feeling in the world overall that things are getting better."

    Developers are preparing for when that happens.

    A Bee survey finds a half-dozen large projects already have launched, or soon will. Only one, the unfinished Elk Grove Promenade, is dormant.

    • Folsom: More than 3,500 acres in Folsom's sphere of influence have been in the works for nearly a decade. The site south of Highway 50 is proposed for some 10,000 homes, more than 1,000 acres of open space, a regional mall, a town center, commercial space and jobs over a 25-year period.

    Ardie Zahedani, associate principal with RCH Group, said the development will implement the state's greenhouse gas policies, offering alternative transportation in every neighborhood.

    North of Highway 50, the Palladio at Broadstone mall taking shape in Folsom is to unveil the all-digital Palladio 16 Cinemas on Dec. 11.

    The larger 700,000-square-foot project with an Italian Renaissance theme will be built in phases through 2011, said Brian Spickard, vice president of operations for Elliott Homes Folsom.

    • Roseville: A 3,162-acre area at Roseville's west end – now Fiddyment Farm and West Park – is planned for nearly 8,500 homes. A quarter of the homes have sold.

    This week, various Roseville commissions are holding hearings on Sierra Vista, a mixed-use plan on 2,064 acres with jobs and commercial uses and 6,650 homes. The land, which is outside the city's current boundaries, is being considered for annexation from Placer County.

    Property owners propose to devote nearly half the site to open space, public uses, landscaping and rights of way.

    Construction could begin as early as 2014, and the homes could be built out by 2027.

    • Elk Grove: Laguna Ridge has 1,900 acres, where some 7,800 homes and 234 acres of parks and open space are projected at buildout. The economy soured as builders were preparing to put up houses.

    "Laguna Ridge is poised, maybe not today but in the relatively near future," to begin a recovery, said John Hodgson of RCH Group, project manager for a number of major area developments, including Laguna Ridge.

    There are sales, with visible success at Pulte Homes' 55-plus Glenbrooke community in Laguna Ridge.

    • Rancho Cordova: South of White Rock Road, the 3,828-acre Rio del Oro is scheduled for hearings at the Rancho Cordova Planning Commission in mid- to late January and could reach the City Council soon after.

    But no agreement has been reached between the city and developers Elliott Homes and GenCorp Realty Investments LLC about the city's development impact fees and infrastructure improvements such as a Highway 50 interchange.

    For now, the focus remains on the project's land plan and environmental documents.

    • Sacramento County: GenCorp Realty Investments' interest in Rio del Oro is but one portion of the much larger Easton project spanning some 6,000 acres in three jurisdictions – Rancho Cordova, Sacramento County and Folsom's sphere of influence south of Highway 50.

    The concept, said David Hatch, company vice president, is to build four boroughs and one town center, Easton Place.

    The initial phase, already approved by Sacramento County, will be Easton Place, a 183-acre transit-oriented, higher-density development, and the adjacent Glenborough at Easton.

    Combined, the two projects will cover 1,400 acres and include 4,883 homes, light rail, and 4.3 million square feet of commercial, retail and office space.

    "We're in the process of creating the infrastructure drawings and trying to be prepared to be at the front of the line when the market recovers," Hatch said.

    Still to come are Hillsborough, in Folsom's sphere of influence, and Westborough at Easton in Rancho Cordova.

    At buildout, the Easton development would produce more than 18,200 homes.


    Houses are under construction at the Glenbrooke site in Elk Grove, one of several projects started or planned in the Sacramento region.

    Vacant lots await buyers in Elk Grove. Developers say the market continues to be difficult, but they remain hopeful of a turn-around.


    Free clinic offers guidance on avoiding foreclosure

    The city of Citrus Heights is sponsoring a free clinic on helping Sacramento area homeowners avoid foreclosure and other financing problems.

    The "Making Your Home Affordable Clinic" will take place over two days – from noon to 7 p.m. today and 10 a.m. to 7 p.m. Saturday at the Citrus Heights City Council Chambers, 7117 Greenback Lane, according to a news release from the city.

    The clinic will feature counseling to assist homeowners in applying to their lenders for loan modifications. Representatives of some lenders also will be at the clinic.

    To pre-register, call (866) 920-3111 or (877) 487-1209. Attendees are asked to bring:

    • Their most recent mortgage statement or latest lender correspondence.

    • One month of their most recent pay stubs.

    • Their two most recent bank statements.

    • Monthly utility bills.

    • Monthly credit card statements.

    – Bee staff



    United Commercial Bank had $14.5 million in Sacramento defaults since '08

    United Commercial Bank, which was seized by state and federal regulators late Friday, was brought down by bad lending practices and $14.5 million worth of commercial real estate loan defaults in Sacramento alone since 2008.

    A Bee review of Sacramento Superior Court cases involving United Commercial found nine cases in which the bank launched foreclosure proceedings after its customers failed to make their loan payments.

    After the defaults, the bank went to court to get receivers appointed to safeguard the properties and collect rents from tenants until they could obtain judicial permission to officially seize and resell the real estate, court records show.

    The properties involved in defaults included eight multiunit apartment buildings with these loan balances:

    • 3821-3825 22nd Ave.: $935,477

    • 3721 Balsam St.: $452,720

    • 3729 Balsam St.: $443,029

    • 3535 Del Paso Blvd.: $925,774

    • 3331 Edison Ave.: $1,099,078

    • 5141 El Camino Blvd.: $890,446

    • 6201 Martin Luther King Jr. Blvd.: $920,993

    • 2732 Rio Linda Blvd.: $1,172,878

    Several properties have since been resold for less than the bank was owed, land title records show.

    The largest default involved a $10 million loan with a current balance of $7.6 million outstanding made to M & Z Valley Associates LLC, a company that bought land in Galt in June 2006. The bank sued the company in November 2008, and the parties have since agreed to submit their case to an alternative dispute resolution center to help reach a settlement.



    Sacramento rates high in Energy Star homes

    The Sacramento metropolitan area ranks 10th nationally for the number of Energy Star-qualified homes built since 1995, according to figures released by the U.S. Environmental Protection Agency.

    The announcement Tuesday marked the completion of 1 million Energy Star homes nationwide. The program sets standards for new-home energy efficiency, including insulation, windows, ducting, heating and cooling systems, lighting and appliances.

    Sacramento has 18,208 Energy Star homes, according to the USEPA. The Houston area has the most such homes, 144,420, followed by Dallas and Las Vegas.



    Workshops for Latino immigrants focus on preventing foreclosure

    Carlos González Gutiérrez, consul general of Mexico in Sacramento, says he came up with the idea for a foreclosure-prevention program while talking with Mexican-born service workers at his own home who feared they might lose their homes.

    For California's Mexican immigrants, homeownership is patrimonio, an inheritance passed down to the next generation.

    "(It's) what you leave to your kids," Carlos González Gutiérrez, consul general of Mexico in Sacramento, said Monday. "That word means a lot in Spanish."

    Preserving and protecting that investment is the focus of a pilot program launched this week to help Mexican and other Latino immigrants in Sacramento and the northern San Joaquin Valley avoid foreclosure.

    Losses of jobs and income are common problems affecting many immigrants in Sacramento, San Joaquin and Stanislaus counties, González Gutiérrez said.

    "No one gains by people failing to pay their mortgages - not the bank, not the family," he said. "But the ones who suffer most are the kids, the second generation."

    To help those in his jurisdiction avoid falling into foreclosure, González Gutiérrez teamed with the Catholic dioceses of Sacramento and Stockton, the state Department of Consumer Affairs and nonprofit ClearPoint Credit Counseling Solutions to offer free workshops and counseling.

    The foreclosure prevention workshops, open to Mexican and other Latino immigrants, run through Friday at three Catholic churches in Sacramento, Stockton and Modesto. Next week, mortgage counseling will be offered to the general public at the consul general's office, 1010 Eighth St., in Sacramento. All sessions will be in Spanish and English.

    The workshop project comes as Latino homeownership nears historic highs: about one of every two Latino households owns a home, according to the Pew Hispanic Center.

    The project focuses on a region and a state hit hard by the housing crisis.

    According to the Pew center, Latino and black homebuyers in 2007 were far more likely than whites to borrow in the higher-priced subprime market. They also carried more debt relative to income.

    In 2007, the Pew center said, 27.6 percent of home loans to Latinos and 33.5 percent to blacks were higher-priced loans, compared with just 10.5 percent of loans to whites.

    Speaking to The Bee after a news conference Monday, González Gutiérrez says he got the idea for his foreclosure program while talking with Mexican-born service workers at his own home: the cable TV installer from Jalisco and the air conditioner repairman from Zacatecas.

    Unaware of González Gutiérrez's post, both workers told him they were at risk of losing their homes for financial reasons. The Zacatecas immigrant declared he was living "the American dream," González Gutiérrez said, "but the only thing he regretted was that he was losing his home."

    Like many homeowners everywhere, Latinos have been hurt first by the subprime lending crisis, then by the recession. Some lost their jobs, and others are earning far less than they once did. In both cases, the mortgage payment gets harder to make.

    Language barriers and a reluctance to seek help add to the financial problems. Many fall victim to mortgage scams.

    "Our community has special needs," González Gutiérrez said. "It doesn't ask for help, and a significant number are undocumented, so they're subject to predators who take advantage of their situation."

    That's why partnerships with local clergy, credit counseling groups and state agencies are important, he said.

    "We're making sure that consumers aren't being ripped off," said Brian Stiger, director of the state Department of Consumer Affairs. " … People are desperate. They're looking for help and don't know where to turn."

    González Gutiérrez hopes the new programs can be an answer.

    "Behind each house (facing) problems there is much sacrifice and much work from a working family," González Gutiérrez said. "To avoid foreclosure is a way to protect the patrimony of the following generation."



    Home Front: Fiorina keynote speech could include surprise

    Carly Fiorina's keynote address next Thursday at the annual Sacramento Regional Housing Forecast is giving a whole new groove to an affair where homebuilders mope about how awful things are.

    Media speculation abounds that at some point next week Fiorina will announce her Republican challenge to Democratic U.S. Sen. Barbara Boxer.

    The smart money says she'll announce in Pleasanton the day after she appears in Sacramento, during an event showcasing high-tech startups. But staffers for the ex-Hewlett Packard chief say coyly the true location is a surprise. It could turn out to be Sacramento, ground zero for the housing and economic downturn.

    Normally, few reporters would show up to hear from a state labor market consultant, a Folsom homebuilding industry consultant and an economist from California State University, Sacramento. Last year's big keynote speaker was Jeffrey Mezger, CEO of Los Angeles-based KB Home. He talked about building smaller houses to compete with foreclosures.

    This year, that keynote is packing much more suspense.

    The rock 'n' roll loft life

    You know you're cool if you buy a loft at Oak Park's Fourth Avenue Lofts. But it's cooler still to get a drop-in there from DIY Network's "House Crashers."

    Ask Fourth Avenue resident Eli Bob, bartender at Carmichael's Luna Lounge. The show did a rock 'n' roll makeover at his loft this week, putting up a rock wall and decorating another with classic rock albums.

    "He is a bachelor in a really cool space, and he hasn't done much with it. It was screaming for attention," said Wendy Fontes, the national show's coordinating producer.

    Bob was one of the first to move into the 10-unit development at 35th Street and Fourth Avenue almost two years ago. Now, it's nearly sold out, says Rob McQuade, sales agent for the property.

    McQuade, of McMartin Realty, signed a contract this week for one of the last two live-work units priced at $292,000. That leaves one in a project that opened in 2007 as the market tanked.

    Cobwebs are big business

    Those Halloween decorations adorning thousands of Sacramento-area houses and apartment decks are big business. The National Retail Federation estimates Americans will spend $1.23 billion this year on cobwebs, ghosts, skeletons and other decorations for wherever they call home.

    The average decorator spent $23.56, says the NRF, and 62 percent of the buying public bought at least something for the yard or porch.

    That's down a little from last year in this economy, but it's still a lot of plastic spiders. Home Front's favorite yard sighting this year: hand-made tombstones in Natomas. There lie "Big Al, One Whopper too many," and "Mary Lass, Missed the Brake and Hit the Gas."

    Lucky folks with no mortgages

    Day in and out we hear about the profound number of capital-area residents struggling with mortgages and the thousands who owe more on their home loan than their houses are worth.

    There's another crowd without such worries. They have paid off their loans.

    The U.S. Census Bureau estimates 23.5 percent of homes occupied by their owners in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties are free and clear of mortgages. That's about the state average. No more counting down years, and no sleepless nights.

    Nationally, where owning a house is cheaper, 31.6 percent of owner- occupiers have paid off their mortgages, the bureau reports.

    The six-county capital area, incidentally, is home now to almost 1 million single-family houses, condos, apartments and townhouses. The newest 2008 American FactFinder puts the region's residential tally at 990,187.



    April 2008 Sacramento region home sales and price trends

    April 2008 Sacramento region home sales and price trends

    Data for resale single-family detached homes that closed escrow. Percent changes are from the same month one year earlier.
    Community Zip code Number of homes sold % Change from 07 Median price paid % Change from 07 Highest price paid Median price paid per sq/ft % Change from 07
    SACRAMENTO COUNTY              
    Carmichael 95608 46 -22.0% $266,000 -28.1% $650,000 $187 -18.0%
    Citrus Heights 95610 35 105.9% $237,500 -20.6% $465,000 $160 -24.5%
    Citrus Heights 95621 71 65.1% $207,000 -24.7% $340,000 $152 -27.5%
    Elk Grove 95624 87 64.2% $278,500 -32.4% $847,500 $140 -33.6%
    Elverta 95626 10 100.0% $157,500 -25.0% $360,000 $139 -33.2%
    Fair Oaks 95628 48 14.3% $367,000 -3.4% $918,000 $201 -20.1%
    Folsom 95630 58 -38.9% $435,000 -5.4% $725,000 $194 -20.5%
    Galt 95632 39 77.3% $230,000 -34.8% $463,000 $146 -32.9%
    Herald 95638 1 0.0% n/a n/a n/a n/a n/a
    Isleton 95641 n/a n/a n/a n/a n/a n/a n/a
    North Highlands 95660 56 211.1% $123,000 -44.1% $1,052,590 $110 -48.3%
    Orangevale 95662 42 50.0% $250,000 -30.0% $461,000 $197 -11.8%
    Rancho Cordova 95670 41 51.9% $201,500 -48.9% $585,000 $153 -29.9%
    Rio Linda 95673 14 -22.2% $175,000 -47.0% $320,000 $142 -52.0%
    Sloughhouse 95683 8 -20.0% $425,000 6.6% $500,000 $209 5.1%
    Wilton 95693 3 -50.0% $515,000 -22.8% $600,000 $318 -2.7%
    Elk Grove 95757 70 125.8% $315,000 -34.2% $565,000 $136 -30.4%
    Elk Grove 95758 114 75.4% $254,500 -26.2% $680,000 $147 -33.3%
    Sacramento 95814 n/a n/a n/a n/a n/a n/a n/a
    Sacramento 95815 30 50.0% $94,000 -52.6% $268,000 $102 -44.3%
    Sacramento 95816 14 -12.5% $414,000 1.5% $1,275,000 $332 -3.6%
    Sacramento 95817 21 16.7% $155,000 -39.2% $475,000 $120 -49.8%
    Sacramento 95818 16 -27.3% $413,750 -3.7% $1,300,000 $310 -8.8%
    Sacramento 95819 16 -51.5% $389,250 -11.7% $902,000 $335 -7.3%
    Sacramento 95820 54 63.6% $106,000 -56.5% $320,000 $100 -55.1%
    Sacramento 95821 28 55.6% $230,000 -25.8% $1,160,000 $189 -20.6%
    Sacramento 95822 42 5.0% $140,000 -48.3% $600,000 $112 -51.2%
    Sacramento 95823 90 157.1% $150,000 -48.3% $420,000 $113 -44.7%
    Sacramento 95824 28 86.7% $107,500 -46.7% $228,000 $98 -51.3%
    Sacramento 95825 13 -7.1% $185,000 -40.2% $350,000 $168 -25.0%
    Sacramento 95826 27 -12.9% $203,000 -33.4% $320,000 $152 -28.4%
    Sacramento 95827 20 66.7% $210,500 -32.7% $375,000 $139 -37.4%
    Sacramento 95828 100 143.9% $155,000 -45.6% $575,000 $113 -43.4%
    Sacramento 95829 36 56.5% $268,000 -23.6% $815,000 $145 -36.1%
    Sacramento 95831 37 27.6% $335,500 -8.6% $829,500 $196 -13.7%
    Sacramento 95832 33 266.7% $185,000 -44.1% $367,500 $103 -47.9%
    Sacramento 95833 29 20.8% $192,000 -38.1% $395,000 $129 -40.0%
    Sacramento 95834 28 180.0% $280,000 -17.6% $490,000 $131 -44.8%
    Sacramento 95835 45 0.0% $291,500 -34.5% $520,000 $142 -29.2%
    Sacramento 95837 n/a n/a n/a n/a n/a n/a n/a
    Sacramento 95838 48 37.1% $139,000 -41.5% $237,000 $103 -51.3%
    Sacramento 95841 17 54.5% $201,500 -31.0% $407,000 $138 -24.3%
    Sacramento 95842 40 90.5% $172,500 -36.1% $310,000 $134 -42.8%
    Antelope 95843 82 90.7% $241,000 -24.2% $2,400,000 $138 -33.9%
    Sacramento 95864 12 -62.5% $370,000 -30.2% $1,400,000 $225 -26.5%
    SURROUNDING AREAS
    Cool 95614 3 -50.0% $275,000 -24.7% $350,000 $213 -15.4%
    Diamond Springs 95619 3 50.0% $185,000 -40.7% $315,000 $143 -48.6%
    El Dorado 95623 2 -33.3% $228,250 -33.6% $243,500 $212 3.2%
    Garden Valley 95633 2 -33.3% $220,000 -32.7% $220,000 $259 -17.7%
    Georgetown 95634 2 0.0% $213,500 -72.9% $244,000 $170 -54.4%
    Grizzly Flats 95636 1 -50.0% $192,500 -33.6% $192,500 $159 -13.3%
    Placerville 95667 15 -42.3% $270,000 -26.0% $815,000 $200 -17.5%
    Rescue 95672 2 -33.3% n/a n/a n/a n/a n/a
    Shingle Springs 95682 23 -17.9% $337,500 -19.6% $829,000 $190 -16.3%
    Somerset 95684 n/a n/a n/a n/a n/a n/a n/a
    Camino 95709 3 -25.0% $200,000 -54.0% $525,000 $175 -31.8%
    Kyburz 95720 n/a n/a n/a n/a n/a n/a n/a
    Pollock Pines 95726 10 -37.5% $250,000 -25.9% $432,500 $184 -14.8%
    El Dorado Hills 95762 44 -6.4% $495,000 -9.2% $2,300,000 $188 -19.5%
    South Lake Tahoe 96150 30 -31.8% $357,500 -4.2% $980,000 $260 -15.4%
    Soda Springs 95728 1 n/a $675,000 n/a $675,000 $502 n/a
    Truckee 96161 3 -25.0% $950,000 14.5% $1,195,000 $474 19.4%
    Auburn 95602 7 -22.2% $290,000 -50.3% $605,000 $199 -32.0%
    Auburn 95603 18 -10.0% $378,000 -19.1% $717,000 $198 -15.7%
    Foresthill 95631 5 0.0% $370,000 -1.3% $431,500 $206 -2.8%
    Lincoln 95648 76 16.9% $320,000 -25.6% $665,000 $141 -41.7%
    Loomis 95650 9 -30.8% $875,000 69.6% $1,175,000 $259 -14.9%
    Newcastle 95658 4 -20.0% $460,000 -29.3% $730,000 $242 -16.7%
    Roseville 95661 19 -38.7% $340,000 -21.8% $635,000 $187 -21.3%
    Penryn 95663 1 -66.7% $522,000 -19.7% $522,000 $185 -50.6%
    Rocklin 95677 31 93.8% $339,000 -20.8% $875,000 $172 -21.9%
    Roseville 95678 47 46.9% $300,000 -21.1% $706,000 $151 -31.9%
    Alta 95701 2 n/a $432,500 n/a $715,000 $214 n/a
    Colfax 95713 7 0.0% $237,000 -30.3% $370,000 $203 -3.7%
    Emigrant Gap 95715 n/a n/a n/a n/a n/a n/a n/a
    Meadow Vista 95722 6 0.0% $415,000 -20.2% $825,454 $244 -0.3%
    Weimar 95736 n/a n/a n/a n/a n/a n/a n/a
    Granite Bay 95746 22 -15.4% $813,000 -1.5% $1,375,000 $242 -18.0%
    Roseville 95747 67 28.8% $375,000 -10.2% $730,000 $174 -27.3%
    Rocklin 95765 36 0.0% $361,250 -13.0% $1,225,000 $169 -25.7%
    Carnelian Bay 96140 1 -75.0% $695,000 39.6% $695,000 $359 -17.9%
    Homewood 96141 1 n/a n/a n/a n/a n/a n/a
    Tahoma 96142 n/a n/a n/a n/a n/a n/a n/a
    Kings Beach 96143 1 -75.0% $475,000 -5.0% $475,000 $555 8.3%
    Tahoe City 96145 6 100.0% $712,000 -14.2% $3,100,100 $465 -1.4%
    Olympic Valley 96146 4 0.0% $1,025,000 -37.9% $5,850,000 $446 -21.7%
    Tahoe Vista 96148 n/a n/a n/a n/a n/a n/a n/a
    Broderick 95605 8 33.3% $136,500 -67.5% $458,000 n/a n/a
    Davis 95616 12 -29.4% $454,500 -17.0% $610,000 n/a n/a
    El Macero 95618 18 -33.3% $605,500 11.8% $1,285,000 n/a n/a
    Esparto 95627 3 200.0% $220,000 -54.6% $300,000 n/a n/a
    West Sacramento 95691 49 133.3% $296,000 -19.5% $560,000 n/a n/a
    Winters 95694 4 300.0% $288,750 -35.4% $400,000 n/a n/a
    Woodland 95695 24 9.1% $251,000 -32.2% $380,000 n/a n/a
    Woodland 95776 11 -26.7% $290,000 -27.5% $310,000 n/a n/a
    Source: DataQuick Information Systems, DQNews.com



    January 2008 Sacramento region home sales and price trends

    Data for resale single-family detached homes that closed escrow.

    Percent changes are from the same month one year earlier.

    Source: DataQuick Information Systems, DQNews.com

    Community Zip code Number of homes sold % Change from 07 Median price paid % Change from 07 Highest price paid Median price paid per sq/ft % Change from 07
    SACRAMENTO COUNTY







    Carmichael 95608 22 -47.6% $275,000 -29.5% $620,000 $190 -21.0%
    Citrus Heights 95610 24 -42.9% $249,250 -25.2% $422,000 $161 -25.9%
    Citrus Heights 95621 17 -56.4% $219,000 -27.0% $415,000 $167 -23.0%
    Elk Grove 95624 41 -12.8% $320,000 -23.1% $800,000 $147 -33.9%
    Elverta 95626 7 16.7% $198,000 -32.9% $420,500 $181 -31.8%
    Fair Oaks 95628 19 -24.0% $308,000 -32.3% $975,000 $194 -17.7%
    Folsom 95630 32 -40.7% $409,250 -3.3% $862,000 $208 -13.6%
    Galt 95632 17 -32.0% $249,000 -33.6% $518,000 $164 -23.2%
    Herald 95638 1 -75.0% $390,000 23.0% $390,000 n/a n/a
    Isleton 95641 n/a n/a n/a n/a n/a n/a n/a
    North Highlands 95660 31 72.2% $130,000 -49.2% $255,000 $121 -44.1%
    Orangevale 95662 18 -35.7% $250,000 -35.4% $605,000 $208 -13.9%
    Rancho Cordova 95670 30 7.1% $230,250 -30.2% $410,000 $166 -25.3%
    Rio Linda 95673 11 22.2% $222,500 -8.6% $325,000 $180 -20.0%
    Sloughhouse 95683 2 -77.8% $430,250 -10.4% $455,500 $189 -15.5%
    Wilton 95693 5 -28.6% $612,500 -12.4% $719,000 $202 -29.8%
    Elk Grove 95757 40 2.6% $335,000 -29.9% $465,000 $146 -32.3%
    Elk Grove 95758 65 6.6% $270,000 -27.0% $550,000 $157 -29.8%
    Sacramento 95814 n/a n/a n/a n/a n/a n/a n/a
    Sacramento 95815 13 8.3% $140,000 -35.9% $285,000 $139 -27.2%
    Sacramento 95816 7 0.0% $300,750 -31.3% $600,000 $248 -15.3%
    Sacramento 95817 14 55.6% $157,000 -40.4% $250,000 $150 -35.4%
    Sacramento 95818 21 -4.5% $451,250 -1.1% $730,000 $285 -16.5%
    Sacramento 95819 12 -29.4% $415,000 1.8% $835,000 $325 -13.1%
    Sacramento 95820 22 -35.3% $162,500 -37.5% $325,000 $144 -40.4%
    Sacramento 95821 13 -43.5% $263,750 -21.2% $378,000 $202 -15.5%
    Sacramento 95822 23 -37.8% $190,000 -36.5% $372,000 $146 -37.1%
    Sacramento 95823 51 4.1% $182,000 -39.7% $397,500 $138 -35.1%
    Sacramento 95824 20 17.6% $132,750 -43.8% $445,000 $120 -43.4%
    Sacramento 95825 6 -50.0% $283,750 -23.3% $395,000 $191 -16.1%
    Sacramento 95826 17 -19.0% $239,500 -22.7% $305,000 $171 -19.6%
    Sacramento 95827 11 -35.3% $200,000 -33.3% $279,000 $160 -21.4%
    Sacramento 95828 43 -21.8% $182,000 -41.1% $415,000 $129 -43.3%
    Sacramento 95829 16 -5.9% $284,000 -16.2% $725,000 $156 -31.1%
    Sacramento 95831 24 20.0% $325,000 -11.9% $450,000 $197 -11.3%
    Sacramento 95832 6 -25.0% $235,000 -14.7% $339,000 $120 -43.7%
    Sacramento 95833 21 -22.2% $240,000 -28.4% $485,000 $158 -28.2%
    Sacramento 95834 9 -43.8% $276,500 -28.9% $387,000 $136 -37.0%
    Sacramento 95835 26 -18.8% $320,000 -31.6% $855,000 $152 -29.7%
    Sacramento 95837 n/a n/a n/a n/a n/a n/a n/a
    Sacramento 95838 33 -10.8% $165,000 -32.7% $445,000 $132 -38.5%
    Sacramento 95841 11 -26.7% $238,000 -23.2% $325,000 $137 -36.4%
    Sacramento 95842 24 71.4% $179,000 -35.3% $257,000 $133 -42.6%
    Antelope 95843 63 34.0% $238,000 -27.9% $525,000 $144 -31.6%
    Sacramento 95864 12 -47.8% $456,750 37.2% $2,040,000 $270 6.8%









    SURROUNDING AREAS







    Cool 95614 4 0.0% $255,000 -26.6% $306,000 $178 -18.3%
    Diamond Springs 95619 n/a n/a n/a n/a n/a n/a n/a
    El Dorado 95623 1 -83.3% $225,000 -43.8% $225,000 $151 -34.1%
    Garden Valley 95633 n/a n/a n/a n/a n/a n/a n/a
    Georgetown 95634 1 n/a $348,000 n/a $348,000 $252 n/a
    Grizzly Flats 95636 2 -33.3% $225,500 -2.0% $235,000 $177 -0.7%
    Placerville 95667 9 -71.0% $261,000 -29.8% $730,000 $204 -17.7%
    Rescue 95672 n/a n/a n/a n/a n/a n/a n/a
    Shingle Springs 95682 15 -6.3% $362,500 -23.7% $640,000 $173 -16.8%
    Somerset 95684 n/a n/a n/a n/a n/a n/a n/a
    Camino 95709 3 -25.0% $220,000 -36.1% $275,000 $238 -11.8%
    Kyburz 95720 n/a n/a n/a n/a n/a n/a n/a
    Pollock Pines 95726 7 40.0% $262,500 -12.5% $351,000 $165 -18.9%
    El Dorado Hills 95762 32 -17.9% $514,000 -12.1% $1,850,000 $190 -17.2%
    South Lake Tahoe 96150 25 -37.5% $367,500 -9.3% $1,750,000 $271 -14.8%
    Soda Springs 95728 n/a n/a n/a n/a n/a n/a n/a
    Truckee 96161 2 -50.0% $542,500 -51.8% $635,000 $264 -36.9%
    Auburn 95602 4 -66.7% $310,000 -39.2% $515,000 $236 -8.9%
    Auburn 95603 18 -30.8% $433,000 4.3% $700,000 $207 -17.2%
    Foresthill 95631 1 -75.0% n/a n/a n/a n/a n/a
    Lincoln 95648 46 17.9% $318,000 -19.5% $545,000 $146 -40.3%
    Loomis 95650 5 -44.4% $330,000 -61.8% $1,337,500 $218 -28.5%
    Newcastle 95658 3 50.0% $430,000 -65.6% $740,000 $262 -14.3%
    Roseville 95661 13 -23.5% $411,000 -5.7% $630,000 $200 -12.3%
    Penryn 95663 2 -33.3% $520,000 -41.9% $520,000 $208 -1.4%
    Rocklin 95677 10 -37.5% $315,000 -18.3% $830,000 $188 -14.5%
    Roseville 95678 23 -30.3% $240,000 -25.0% $480,000 $175 -22.5%
    Alta 95701 n/a n/a n/a n/a n/a n/a n/a
    Colfax 95713 3 -50.0% $245,000 -10.6% $300,000 $244 2.8%
    Emigrant Gap 95715 n/a n/a n/a n/a n/a n/a n/a
    Meadow Vista 95722 1 -50.0% $910,000 40.0% $910,000 $250 -22.8%
    Weimar 95736 n/a n/a n/a n/a n/a n/a n/a
    Granite Bay 95746 11 -56.0% $795,000 2.6% $3,250,000 $250 -10.2%
    Roseville 95747 41 -19.6% $350,000 -23.4% $1,200,000 $189 -16.4%
    Rocklin 95765 16 -51.5% $309,500 -31.3% $550,000 $175 -18.8%
    Carnelian Bay 96140 1 -80.0% $380,000 -49.3% $380,000 $465 -25.8%
    Homewood 96141 n/a n/a n/a n/a n/a n/a n/a
    Tahoma 96142 1 -50.0% n/a n/a n/a n/a n/a
    Kings Beach 96143 1 n/a $370,000 n/a $370,000 $243 n/a
    Tahoe City 96145 10 25.0% $542,500 -30.0% $915,000 $448 -19.3%
    Olympic Valley 96146 2 100.0% $795,750 78.8% $860,000 $619 27.8%
    Tahoe Vista 96148 1 n/a $410,000 n/a $410,000 $296 n/a
    Broderick 95605 9 -10.0% $145,000 -74.6% $625,000 n/a n/a
    Davis 95616 6 20.0% $475,000 -11.9% $1,225,000 n/a n/a
    El Macero 95618 4 -69.2% $605,000 36.9% $715,000 n/a n/a
    Esparto 95627 1 0.0% $198,000 -47.8% $198,000 n/a n/a
    West Sacramento 95691 24 -11.1% $284,000 -19.1% $445,000 n/a n/a
    Winters 95694 1 -85.7% $410,000 13.1% $410,000 n/a n/a
    Woodland 95695 13 -23.5% $316,136 -11.8% $550,000 n/a n/a
    Woodland 95776 12 71.4% $286,000 -21.1% $465,000 n/a n/a



    Home sales charts

    2008

    2007





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