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Old 10-10-2019, 06:15 PM
 
940 posts, read 926,154 times
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What I am seeing at work from managers who earn way more than I do is buying in places like Folsom, Elk Grove and Fair Oaks areas not midtown or downtown.
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Old 10-10-2019, 08:31 PM
 
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What I wonder about is if seasonality in housing prices is more pronounced in places where the buyers often have young children possibly entering school. So I am thinking that say Elk Grove, Folsom Roseville Lincoln and Rocklin. it might have a stronger effect than in places where people don't have as many kids like Sac downtown or maybe Arden Arcade and Carmichael, where occupants are just older.
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Old 10-12-2019, 01:28 PM
 
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Well for some reason downtown, midtown, east Sacramento and Curtis/Land park are mostly hipsters and not many families but have the highest real estate prices. Why?
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Old 10-12-2019, 07:09 PM
 
Location: Bay Area
19 posts, read 8,492 times
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Quote:
Originally Posted by jamesly View Post
What I have seen as I watch homes the foothills, Amador County, parts of Sacramento County, Placer County for a possible retirement move out of the Bay Area is that asking prices of homes in the 400k - 650k range are being lowered 15k to 30k and more.

As mentioned some of it is seasonal and due to homes being priced at the top when listed.
I have been watching since summer 2018. But I do see many nice homes in my 400k - 650k range in these less than urban areas that have been in my Saved Homes list for 120 days or more. That may be typical in areas I am looking in. I've only my 1 year of observation to go on. It's not the norm where I live now.

I am surprised how many of the homes I have saved have NOT sold. Of course many have. They were priced well and were nice homes. But there are many I saved say 6 months ago that have had listings run out and I see re-listed.
The issue is that most of these homes are MASSIVELY overpriced compared to job opportunities in the area and general cost of living issues. Average household incomes in those areas hovers around $40k, and homelessness has exploded in recent years. A huge percentage of the available property has been turned into short-term vacation rentals for wealthy Bay Area residents which has severely limited supply and driven the cost of housing through the roof.

AirBnB and VRBO have ruined these communities.
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Old 10-12-2019, 08:50 PM
 
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Totally agree most jobs pay way under 100k in Sacramento area and even with two incomes not enough to support current real estate prices. So WTF is driving these insane prices up?
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Old 10-13-2019, 12:06 AM
 
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Up in the Foothills, anywhere near trees, the problem now is the cost of home insurance due to the fires. If you already own your home the rates have doubled and tripled. Many of us have been dropped by our insurance companies, leaving us to scramble for insurance. Many people now have to go on the California Fair Plan for fire insurance. So when buying a house now a big factor is being able to get insurance, if you can. Which is making our property values go down and why lots of houses are sitting on the market for a longer time, up here anyway. It's still a beautiful place to live!
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Old 10-13-2019, 10:18 PM
 
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Ouch that sucks Carol, I am looking at 3 bedroom homes under 400k in Sacramento areas like College Glenn, Elk Grove, and Sacramento that are within a reasonable commute to/from downtown Sacramento as I am tired of renting a crappy tiny 1 bedroom apartment. I work for state govt but inventory stinks under 400k here now. Most places need major work and I am no handy man. Rents keep skyrocketing out of control too. I should get a job in Texas or cheap place at what I make and live well.
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Old 10-14-2019, 12:17 PM
 
289 posts, read 148,301 times
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Better to scoop up that cute fixer upper bungalow for $400k today, rather than pay over $1 million for the same fixer upper later. Sacramento is the new affordable housing for millionaires being pushed out of the bay area by the billionaires and multi-millionaires, so renters should get ready to pay $3,000 per month for studio apartments - coming to a Sacramento neighborhood near you

Last edited by luckydogg; 10-14-2019 at 01:06 PM..
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Old 10-14-2019, 06:02 PM
 
940 posts, read 926,154 times
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Won't happen as the financials don't support it.
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Old 10-14-2019, 08:46 PM
 
8,357 posts, read 15,117,095 times
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Quote:
Originally Posted by mixxalot View Post
Well for some reason downtown, midtown, east Sacramento and Curtis/Land park are mostly hipsters and not many families but have the highest real estate prices. Why?

Apparently hipsters are good for property values?
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