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Old 01-08-2008, 09:21 PM
 
216 posts, read 374,677 times
Reputation: 25

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Firstly, when did this bubble (crazy increases in price) start?
Looks like 1999.

Secondly,
a) what did that cute 1300 sq ft bungalow in east-sac
cost then (when the bubble started)?

b) How about those 1500 sq ft homes in Lands park?
c) 2000 sq ft semi-custom homes in Pocket?
d) Those beautiful Victorians in midtown?

The current answers are a): 600K, b) 600K, c) 450K, d) 700K
I'm assuming nicely renovated and up to date homes.
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Old 01-08-2008, 10:28 PM
 
527 posts, read 1,318,439 times
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As I have seen in Roseville, Rocklin, and Lincoln, home prices have gone from the 150k to 450k, so about triple the price. Since this growth has been so prominent in these areas, i'm assuming the prices in sacramento are very similar.
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Old 01-08-2008, 10:57 PM
 
216 posts, read 374,677 times
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Quote:
Originally Posted by Rob98LS1 View Post
As I have seen in Roseville, Rocklin, and Lincoln, home prices have gone from the 150k to 450k, so about triple the price. Since this growth has been so prominent in these areas, i'm assuming the prices in sacramento are very similar.
Are you comparing apples to apples? That is, was the 150K home
unrennovated and the 450K home a rennovated version of
the 150K home. That wouldn't be a fair comparison.
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Old 01-08-2008, 11:03 PM
 
527 posts, read 1,318,439 times
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Quote:
Originally Posted by inpd View Post
Are you comparing apples to apples? That is, was the 150K home
unrennovated and the 450K home a rennovated version of
the 150K home. That wouldn't be a fair comparison.
No i'm saying the same condition homes have tripled at least in prices because of the sudden growth that occurred in the 90's. If that's what your asking.
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Old 01-09-2008, 12:04 AM
 
216 posts, read 374,677 times
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Quote:
Originally Posted by Rob98LS1 View Post
No i'm saying the same condition homes have tripled at least in prices because of the sudden growth that occurred in the 90's. If that's what your asking.
Okay, but when were the homes worth $150K. Early or late 90's?
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Old 01-09-2008, 09:27 AM
 
Location: Happiness is found inside your smile :)
3,176 posts, read 14,671,434 times
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I lived in midtown/east sac from 1994 to 2004, and i remember drivin around in 99, looking at homes for sale and crying because they were so much!! this gorgeous brick tudor was 225k!!! hahahaha I bet that same house is 800K now. i still have the flyer i should look it up on line

my friend and her hsband bought a house in rosemont for 80K in 95. and sold it in 2005 for 350K!!! it was tiny and run down!!!!
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Old 01-09-2008, 10:34 AM
 
Location: Roseville, CA
238 posts, read 1,313,621 times
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Enter a home's street address into zillow.com and you can get an idea of its value over time. (In my experience, its estimates of current home value can be way off, but its historical data should be more accurate.)
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Old 01-09-2008, 10:46 AM
 
325 posts, read 1,469,940 times
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$150k in Land Park and East Sac was early 90s when there was a housing recession in Sacramento due to McClellan and Mather military bases closing. In ten years the area went from way down in the dumpster (1980s prices were higher than early 90s) to the bubble highs.

IMHO a lot of the housing price increase has to do with Sacramento catching up with the rest of California. Pre-2002-ish, Sacramento was a steal for a large urban area of California. So while prices have been falling, and will continue to, you are not going to find it back where it was pre-bubble.
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Old 01-09-2008, 10:49 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,249,630 times
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It really doesn't matter what the price was then.

What was the price of Gas? What was the price of gold? what was the value of the dollar versus the euro? Does the current price of gold constitute a bubble? Or crude oil?

Simply put, you can't buy anything for the same price as you did 5, 10, or 15 years ago. You might even pay less for some things.
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Old 01-09-2008, 03:48 PM
 
216 posts, read 374,677 times
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Quote:
Originally Posted by DMenscha View Post
Simply put, you can't buy anything for the same price as you did 5, 10, or 15 years ago.
Sure. of course not, inflation is inflation.
But if the others posters are on the ball
then in not more than 10 years
Roseville went from $150K -> $450K
Midtown $250K->$800K
and Lands Park $150K->$600K

Then that's much higher than inflation!

But when did it really start ramping up
closer to 95 or 2000?

I agree with cw68 that Sacramento was
undervalued. We'll see what happens
the facts for Sac are below. I hope it comes
down to a reasonable price.

December 2006 REOs: 283
December 2007 REOs: 1,155
Change: 308.1%

Total 2006 REOs: 1,326
Total 2007 REOs: 8,155
Change: 515.0%

December 2006 Pre-foreclosures: 1,052
December 2007 Pre-foreclosures: 2,380
Change: 126.2%
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