Housing market in Sac (Sacramento, Roseville: lease, buying a house, neighborhoods)

[webdev]

Even though prices have risen in some of the areas you mentioned, they're cheap, in my opinion, compared to what they will be in say another 5 - 10 years. Especially as more people from the bay area, southern ca etc move to the area.

[caligirlz]

Originally Posted by jgooner22

so we'll most probably end up buying either in Folsom or Rocklin/Roseville. Do you have any recommendations on any real estate agents?

How do you see the market in this area? We don't have an urgency to buy the house, but the housing demand seems to be trumping the supply right now. We don't want to pay crazy prices in already expensive neighborhoods, so wanted to talk to locals and see what they think.

I'd appreciate any advice you can give. Thanks much!

IMO, Folsom is a far more desirable community than Roseville. Of course, if price & holding value is the only criteria, then pick Folsom. I believe the only thing you mentioned was great schools & affordable. Any of criteria or interests that could help us give you more specific advice?

Regarding realtors, I can recommend a couple, including mine. I bought in 2011, and was closing escrow within 3 months of seriously beginning my search. I'm in Folsom. PM me if you would like some names.

Originally Posted by NinaN

Inventory is creeping up in all these markets but still low. Historically, prices are highest in spring and summer, and drop slightly in fall and winter. Of course, the selection drops at those times as well.

Keep an eye out. If you find something that really works for you, in a budget that you can afford, go for it. If not, wait. Prices increased a lot in 2013, and just slightly this year.

I think the biggest impact will be a change in interest rates. They are still at historically low rates, though not as low as early last year. There is pretty much only one way for them to go. When and how much they will increase is anybody's guess.

I work in the Folsom/EDH area. Can't speak for Rocklin/Roseville except for looking at the data trend charts.

Exactly. I just saw the stats for Folsom.

As of May:
Folsom at $212/sf (10% increase from last year)
avg days to sale 30; down from 49 in Jan; 173 homes for sale

EDH $200/ sf, avg days to sale 53; 234 homes for sale

Roseville $190/sf, avg days to sale 33

Elk Grove (which does have good schools), $155/sf

[jgooner22]

So, just an update on this thread - we started looking around a couple of weeks back. Toured a couple of houses, went to a few open houses. Initial impressions:

1. Folsom, IMO, is overrated. It's a very nice area, but not at the amount of money you spend for the homes there. You get more value for your buck in Roseville/Rocklin. Schools are nice, but you find similar schools in Rocklin easily.

2. Roseville is nice, but there are a few areas with mediocre schools where I won't consider buying. Specially when the prices are similar to houses in other neighborhoods.

3. Rocklin is what we loved the most - I think this is the place where you'll get a good value for your money.

Anyone here lives in Rocklin who could list the pros and cons of living on either side of 80? The western side seems nicer, but is also pricier with high MR taxes in most desirable communities.

[xenxes]

Moderator cut: The only area where recommendations are not permitted is real estate

Median prices has mostly been flat for the past 4 months. Rates have been steady, but will definitely increase come / post-October when Feds decrease bond buying, followed by inevitable rate increases, which will decrease overall affordability. International factors are still variable however. Don't quote me on it but median house prices might come down a little after rate increases, before its slow creep upwards.

[hd4me]

Originally Posted by jgooner22

So, just an update on this thread - we started looking around a couple of weeks back. Toured a couple of houses, went to a few open houses. Initial impressions:

1. Folsom, IMO, is overrated. It's a very nice area, but not at the amount of money you spend for the homes there. You get more value for your buck in Roseville/Rocklin. Schools are nice, but you find similar schools in Rocklin easily.

2. Roseville is nice, but there are a few areas with mediocre schools where I won't consider buying. Specially when the prices are similar to houses in other neighborhoods.

3. Rocklin is what we loved the most - I think this is the place where you'll get a good value for your money.

Anyone here lives in Rocklin who could list the pros and cons of living on either side of 80? The western side seems nicer, but is also pricier with high MR taxes in most desirable communities.

It's so rare to get feedback on this forum...thanks for posting

I think if your job center is near or in Roseville/Rocklin not much incentive to live in Folsom and vice versa. The less time spent commuting the better for everyone in terms of reducing congestion and pollution.

Here's a link that can prove useful when people such as yourself shop for neighborhoods and the accompanying schools:

See how students at your local school did on the SAT - Data Center - The Sacramento Bee

[caligirlz]

As I always say, different strokes for different folks. We all have different preferences & needs.

Glad you found an area you like OP.

[2sleepy]

We just went through the whole house hunting, house buying thing here and what we found is that in the past month inventory has increased quite a bit and prices have remained the same and maybe dropped a bit from late spring. Many sellers seem to think that people will buy their crap shack no matter what they ask and are finding themselves dropping the price every few weeks, but a good house well priced in a decent area will sell very quickly, like within 2 days of listing.

Housing prices represent a bargain compared to most other areas of Northern California which I find surprising since I love the area and think it's one of the nicer places in the state to live in. It's a big area so it's hard to generalize but what we found in looking for a house in the $300-$325k range is that if you want a large lot you probably won't find that with a newer tract home, and many of the older tract homes on 1/4 acre lots are butt ugly and need major upgrades but there are some real gems out there so just take your time looking and never buy a 'flip' unless you buy it contingent to a home inspection because there are a whole bunch of houses on the market with granite counters and shiny paint that have major plumbing and HVAC issues nicely hidden from view. Check county assessor data for special tax assessments or mello roos which can really drive the property tax.

I think Folsom and Rocklin are both great areas and we would probably have bought in one of them if we had kids but ours are grown so we opted for Carmichael which was quite a bit cheaper per square foot but maybe not the best choice for a young, growing family.

[jgooner22]

Originally Posted by 2sleepy

We just went through the whole house hunting, house buying thing here and what we found is that in the past month inventory has increased quite a bit and prices have remained the same and maybe dropped a bit from late spring. Many sellers seem to think that people will buy their crap shack no matter what they ask and are finding themselves dropping the price every few weeks, but a good house well priced in a decent area will sell very quickly, like within 2 days of listing.

Housing prices represent a bargain compared to most other areas of Northern California which I find surprising since I love the area and think it's one of the nicer places in the state to live in. It's a big area so it's hard to generalize but what we found in looking for a house in the $300-$325k range is that if you want a large lot you probably won't find that with a newer tract home, and many of the older tract homes on 1/4 acre lots are butt ugly and need major upgrades but there are some real gems out there so just take your time looking and never buy a 'flip' unless you buy it contingent to a home inspection because there are a whole bunch of houses on the market with granite counters and shiny paint that have major plumbing and HVAC issues nicely hidden from view. Check county assessor data for special tax assessments or mello roos which can really drive the property tax.

I think Folsom and Rocklin are both great areas and we would probably have bought in one of them if we had kids but ours are grown so we opted for Carmichael which was quite a bit cheaper per square foot but maybe not the best choice for a young, growing family.

Which area of Rocklin were you targetting, 2sleepy? And I agree with you - I don't think buying a house in Rocklin is a wise decision if your kids are grown. You buy there primarily for the schools.

[jgooner22]

Originally Posted by hd4me

I think if your job center is near or in Roseville/Rocklin not much incentive to live in Folsom and vice versa. The less time spent commuting the better for everyone in terms of reducing congestion and pollution.

Agree with that - which probably explains why prices in Folsom are higher. I, on the other hand, would be working in downtown Sac, so my commute is gonna suck - doesn't matter if I am in Folsom or Rocklin.

[caligirlz]

Originally Posted by jgooner22

Agree with that - which probably explains why prices in Folsom are higher. I, on the other hand, would be working in downtown Sac, so my commute is gonna suck - doesn't matter if I am in Folsom or Rocklin.

Not trying to sell you on Folsom, but RE prices are higher because it has a longstanding reputation as being a fantastic/highly desired community. It's much more inclusive than the sprawl out in Placer County.

In Rocklin you don't have light rail as an option, unlike Folsom.