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Old 07-02-2008, 03:09 PM
 
Location: Happiness is found inside your smile :)
3,176 posts, read 14,710,987 times
Reputation: 1318

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HA!

Okay everyone's dream house is out of their price range - and I know there are a bunch of my dream homes residing in Midtown and East sac,

BUT

What if you are looking for that family home say...in Folsom. And you finally find the exact kind of house with the exact kind of space you need in the exact neighborhood.

And darn it - they priced it 100K out of your range!

ALL hypothetical, because we would never over extend ourselves. Maybe the economy in Sac will crash so badly that the house will need us to bail it out and take $400K.

ugh

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Old 07-02-2008, 03:41 PM
 
599 posts, read 1,654,472 times
Reputation: 234
Hi City Girl,
That is exactly what is happening to us and that is why we are looking in fair oaks, orangevale and citrus heights. Also, I don't like the Folsom personality as well. The market is definately chaning though. We already made three offers in those areas and got out bid. We even went 10K over the asking price and 2 offers blew us away. Only if we had 100K more to work with. We have an offer in on a home in Citrus Heights but another offer went in on it. Should know something by Friday. It is very discouraging.

Our experience has been that we are losing out. When there is all this talk about forecloures and cheaper hosuing, I ask myself where? Cause I haven't seen this in the areas we are looking in. Maybe in Elk grove or Natomas but not in this area. I wish you the best of luck.
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Old 07-02-2008, 03:48 PM
 
Location: Happiness is found inside your smile :)
3,176 posts, read 14,710,987 times
Reputation: 1318
I like Fair Oaks , but will not live in Orangevale or Citrus Heights

I think the competition for housing depends on the range you are looking at.

Anything in the 200s or 300s will have many more bidders who can afford a house. What is your range? Ours is 380K to 430K
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Old 07-02-2008, 05:03 PM
 
261 posts, read 1,351,991 times
Reputation: 148
Quote:
Originally Posted by Mossy View Post
Hi City Girl,
That is exactly what is happening to us and that is why we are looking in fair oaks, orangevale and citrus heights. Also, I don't like the Folsom personality as well. The market is definately chaning though. We already made three offers in those areas and got out bid. We even went 10K over the asking price and 2 offers blew us away. Only if we had 100K more to work with. We have an offer in on a home in Citrus Heights but another offer went in on it. Should know something by Friday. It is very discouraging.

Our experience has been that we are losing out. When there is all this talk about forecloures and cheaper hosuing, I ask myself where? Cause I haven't seen this in the areas we are looking in. Maybe in Elk grove or Natomas but not in this area. I wish you the best of luck.
I've experienced the same. I think the 3-4 bed 2 bath house is just what everyone wants to buy. We've put in 10 offers on houses at good prices, one was 35K over the asking price, and we haven't gotten a house yet. This is in Roseville, and actually the one 35K over was Natomas. Why I'm looking in Natomas, I don't know. I live here now and don't like it, but it's so darn convenient!

I know many houses are getting 15-20 offers in a single weekend. I acutally think people are bidding too high, and they're paying more than the house is actually worth. I guess it's the Spring/Summer price jump. Some people think this is a sign of a housing price turnaround, but I really don't think so. There are just investors and people coming from all over to get a cheap house. I think that if someone wants a house for over 400K then they won't have as much competition, but anything within 200-400K is going to be hot and go fast, very fast.
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Old 07-02-2008, 05:15 PM
 
132 posts, read 428,407 times
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Wait until the election and colder months... the prices will be a lot less...

Natomas... 95835... it was such a good idea on paper... now it has all the signs of a neighborhood that is going to hell... from the robberies and home invasions, car thefts, empty homes and foreclosed new developments...
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Old 07-02-2008, 06:02 PM
 
599 posts, read 1,654,472 times
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our range is 350K-425K. Orangevale and Citrus heights aren't that bad and you can find some really nice homes. Just have to be careful.
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Old 07-02-2008, 09:13 PM
 
Location: Sacramento
14,044 posts, read 27,242,469 times
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My quick search, using the criteria of a minimum of 1,750 sq ft, 4 bedrooms, 2 baths and 2 car garage showed 21 homes available in Folsom, 8 in Fair Oaks, 136 in Roseville and 49 in Rocklin.

Seems like a decent inventory.
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Old 07-02-2008, 09:47 PM
 
Location: Happiness is found inside your smile :)
3,176 posts, read 14,710,987 times
Reputation: 1318
oh yes there are MANY - and I have complied quite a list just awaiting my arrival

but THE house (which is 4 bed 3 bath 2600sqft) is just out of reach
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Old 07-02-2008, 11:06 PM
 
599 posts, read 1,654,472 times
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And alot of those homes need alot of work or are not in a good area.
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Old 07-02-2008, 11:17 PM
GLS
 
1,985 posts, read 5,383,355 times
Reputation: 2472
Quote:
Originally Posted by CityGirl72 View Post
HA!

Okay everyone's dream house is out of their price range - and I know there are a bunch of my dream homes residing in Midtown and East sac,

BUT

What if you are looking for that family home say...in Folsom. And you finally find the exact kind of house with the exact kind of space you need in the exact neighborhood.

And darn it - they priced it 100K out of your range!

ALL hypothetical, because we would never over extend ourselves. Maybe the economy in Sac will crash so badly that the house will need us to bail it out and take $400K.

ugh

Since you state this is "ALL hypothetical", my response is to make an offer anyway. I know realtors will castigate me for "lowballing", but if I find a "dream house" $100K over my budget I simply say I am interested if circumstances change, but this is all I can afford. If they say "no" 9 times out of ten, it doesn't hurt me any. Even though it is a long-shot for a "yes", it's better than walking away quietly and never trying.
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