Thinking of buying a home in Natomas with Beazer, any advice? (Sacramento: real estate, employment)

[mixxalot]

I would never buy in Natomas due to flood risk. I remember growing up in the 1980s in Sacramento and the floods made us use a canoe to get out.

[Down_With_Lima_Beans]

Originally Posted by mixxalot

Yeah that does seem high for Natomas- I see places in the 200-300k range

There are many places in the 2-300k range, however we are looking at a new home, in a location we desire (closer to downtown, close to the highway). The pre-owned homes I would need to renovate, therefore not making them cost effective.

Originally Posted by NoStateProject

400K for Natomas?!?!

Yup.

Originally Posted by FatAlbert

IMO, for $400K it is on the high side for Natomas. Depending on the house and location, you could possibly get into something in Folsom/Roseville/Rocklin that isn't brand new. You might have to wait a bit for prices to go down a bit but it's not out of the question. With new developments, you always risk not knowing what kind of neighbors you're going to get. Also, Natomas, in general while it has some nice looking pockets here and there, has too many areas of concern for me to move there - especially at that price.


I understand the price constraints limiting your selection though. And the areas I mentioned may not be convenient for you to get to work, which is probably why you are looking at Natomas.


For me, I'd probably rent and wait for conditions to make it possible for me to buy somewhere more desirable long-term.

$400k I think is reasonable for a brand new home, upgraded, 1800sq ft place, 3br/2.5ba, 2 car garage, nice master bedroom and bath, full laundry room, etc. Everything around $300k IMO appears cheap and low grade kitchens/appliances. Anywhere outside of Sacramento is out of the question for us. As far as waiting for a home, I have been waiting for the past 2 years or so, and prices continue to climb. As of now they are steady, and whileI believe prices will drop, we will be in the home for a long time and will be able to ride out the storms if theres a dip.

Originally Posted by BarstowC

The last time I was there, and I admit it has been several years, there were a lot of Asians in the community. Noticeably......I thought the area had gone Asian (in the gas stations, in the grocery stores, etc.)......

Yeah, Asians in the community don't bother me.


Also, as I pointed out, I am aware the neighborhood is a flood zone. I still have yet to get any comments about the Beazer developments.

[SunMoonEarth]

Originally Posted by Down_With_Lima_Beans

I still have yet to get any comments about the Beazer developments.

There are reviews elsewhere. They don't look good though

https://www.consumeraffairs.com/hous...zer_homes.html

[NoStateProject]

Originally Posted by Down_With_Lima_Beans

There are many places in the 2-300k range, however we are looking at a new home, in a location we desire (closer to downtown, close to the highway). The pre-owned homes I would need to renovate, therefore not making them cost effective.

Yup.

$400k I think is reasonable for a brand new home, upgraded, 1800sq ft place, 3br/2.5ba, 2 car garage, nice master bedroom and bath, full laundry room, etc. Everything around $300k IMO appears cheap and low grade kitchens/appliances. Anywhere outside of Sacramento is out of the question for us. As far as waiting for a home, I have been waiting for the past 2 years or so, and prices continue to climb. As of now they are steady, and whileI believe prices will drop, we will be in the home for a long time and will be able to ride out the storms if theres a dip.

Yeah, Asians in the community don't bother me.


Also, as I pointed out, I am aware the neighborhood is a flood zone. I still have yet to get any comments about the Beazer developments.

As far as waiting for a home, I have been waiting for the past 2 years or so, and prices continue to climb. As of now they are steady, and whileI believe prices will drop, we will be in the home for a long time and will be able to ride out the storms if theres a dip.

Damn, where have I heard that before? Oh, yeah. 2006-2007 just before everyone who tried to justify overspending on a house found out that housing is not a guaranteed ROI.

[mixxalot]

I would love a home in midtown, Land Park Curtis Park but way too rich for my blood. I work downtown so anyplace safe and affordable that has options for commute like light rail access can work for me. I really need more space than a crowded 1 bedroom apartment. I am waiting for market to cool off and inventory. Ideas?

[Down_With_Lima_Beans]

Originally Posted by NoStateProject

Damn, where have I heard that before? Oh, yeah. 2006-2007 just before everyone who tried to justify overspending on a house found out that housing is not a guaranteed ROI.

The recession of 2008 was a once every 50/75/100 year thing. Personally I doubt the market will tank like it did 10 years ago, although I do think there will be a correction soon.

Originally Posted by mixxalot

I would love a home in midtown, Land Park Curtis Park but way too rich for my blood. I work downtown so anyplace safe and affordable that has options for commute like light rail access can work for me. I really need more space than a crowded 1 bedroom apartment. I am waiting for market to cool off and inventory. Ideas?

Continue to wait, and expand your search. We were hoping for all the neighborhoods you mentioned, but for a 2br/1ba, spending over $350k just isn't for us. A 3br like we want is $400k, plus remodeling. We decided to consider Natomas, when before we wouldn't even think about moving up that way.

[Sumchick]

Any new Apartment size home (because that's truly the size of the bedrooms) in North Natomas will be at least $400,000.

[NoStateProject]

Originally Posted by Down_With_Lima_Beans

The recession of 2008 was a once every 50/75/100 year thing. Personally I doubt the market will tank like it did 10 years ago, although I do think there will be a correction soon.

Continue to wait, and expand your search. We were hoping for all the neighborhoods you mentioned, but for a 2br/1ba, spending over $350k just isn't for us. A 3br like we want is $400k, plus remodeling. We decided to consider Natomas, when before we wouldn't even think about moving up that way.

Your confidence is what I am concerned about. Thinking that 2008 was a once every 50/75/100 year thing is the new version of “that could/would never happen” circa 2008. If I were you, I wouldn’t be buying a house in sac right now. The local economy simply does not support the home values.

[BerryCobbler]

Top Sacramento metro region water expert Jeffrey Mount has often said this: "Natomas is a bowl. When the water gets in there, it won't get out." In 2014: "There’s a one-in-four chance that in the next 25 years every home [in Natomas] will be flooded. That’s a much, much higher risk than that of your house burning." Sacramento News & Review - Congress will finish fixing Natomas’ levees, experts argue that’s still not enough to lift building moratorium - News - Local Stories - May 29, 2014

[JVinci]

Originally Posted by NoStateProject

Your confidence is what I am concerned about. Thinking that 2008 was a once every 50/75/100 year thing is the new version of “that could/would never happen” circa 2008. If I were you, I wouldn’t be buying a house in sac right now. The local economy simply does not support the home values.

It literally is a completely different situation this time around. Watch the Big Short and you’ll see we aren’t in that same scenario where people are getting two mortgages because banks are approving anything with a pulse. What we are in is the longest bull market in history that will have to correct at some point. However, we’re talking like 10% correcting. Homes tanked 50% in some areas during the recession. But guess what? Anyone who just sat tight has already seen there home regain its previous value and then some.

The problem with sacramento isn’t just the booming economy, it’s the low inventory and Bay Area transplants. It’s a very real thing happening. Millennials who thrived in urban settings who get married later in life are finally wanting to settle down and buy a house. Given the insane Bay Area prices, a good chunk of them are coming here to do it.

So don’t underestimate Sacramento’s economy. Tons of people are able to telecommute or just drive into the City 2 days a week for work and get to enjoy higher pay in sacramento.