Since March 2020, the US Department of Homeland Security had included Residential Real Estate in its list of essential services. As such we as realtors are allowed to show properties to prospective clients. Of course, we take al lthe necessary precautions for the safety of our clients. Despite COVID, the market has been very strong. There is very little inventory, hence well priced desirable properties, are getting multiple offers, bidding the price up by tens of thousands of dollars. It is a great time to sell. For our sellers, we can list and market your properties. Our listing package includes 3D Hi-Definition Walk Throughs, Videos, Beautiful HDR pictures and Drone shots of your property, and aggresive marketing through social media. In the current market, we are certain to get top dollar and multiple offers. Please contact us for further details at 916 230 5250.
Check out our local news channels for breaking news updates on the Corona Virus situation.
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2021 had been another tremendous year for real estate. Prices continued its upward trend. In 2021, the Greater Sacramento market including Elk Grove became sizzling hot until August. For a thorough discussion on the Sacramento market trends, , click here to read an analysis by Ryan Lundquist a well known analyst in this region.
The Sacramento and Elk Grove market in particular proved to be remarkably vibrant. Because of the tight inventory, there was stiff competition among buyers for the properties which were priced right. We had multiple offers which are bidding the price up by tens of thousands. Our latest listings were pending in a matter of days with offers at twenty, thirty even eighty thousands dollars above asking. The Elk Grove and Sacramento market was just on fire. Interest rates were at an all time low.
It is now January 2023, for the last few months, the Greater Sacramento market continued to shift. It is no longer a sellers market, often times, sellers have to mark down their prices, and adjust their expectations. On the other hand buyers can be more selective and choose the right house for their budget. According to the Sacramento Association of Realtors, The median sales price in December 2022 decreased 4.9% to $485,000 from $510,000 in November 2022 . This figure is a 5.3% decrease from December 2021. Overall Sacramento prices have declined more than 8% from its peak in 2022, this is quite a bit better than San Francisco or San Jose which has gone down by 13+%. However, there seems to be a silver lining, according to Ryan Lundquist, an expert appraiser and analyst, the market in January has improved, buyers are stil picky, but they are making offers albeit at the right price.
It a good time to buy your dream house, there is more inventory, and despite the Fed continuing to increase the fed funds rate, the 30 years mortgage rate has gone down slightly in the last few weeks to the high 5%. Take advantage of the ZERO DOWN opportunities offered by the CA government, some wth down payment forgiveness for low-income first time buyers.At the same time, people from the SF Bay Area continue to migrate to the Greater Sacramento region. If you are thinking of selling your home, this presents an opportunity to sell. Feel free to call us to get a thorough assessment of the market, a free CMA and honest advice whether you should sell your property now. Here is a video from Channel 3 taken on July 16th, explaining the state of the real estate market.
See also the graph below for Elk Grove market statistics through Nov 2022
"Welcome to Elk Grove, Home of Man-Made Lakes and Tree Lined Streets"
For statistics on the economy,click here. For an up to date 30 day statistics on home prices by zipcode, click here.
My name isJames Tan, I am a Broker at Bethany Real Estate and Investments. We are ranked 5-stars by Yelp , Zillow , Trulia and Google as well as realtor.com and others. We offer the best service at the lowest commissions, as such our clients appreciate us as one of the best real estate agents in Elk Grove. I am a member of Masters Club, a prestigious designation for top realtors from the Sacramento Association of Realtors and a past Director at AREAA Greater Sacramento. With over 30 years experience, in real estate, investing and venture capital, I can offer you valuable & professional service and expertise. I only provides honest and straight forward advice.
Whether you are a first-time home buyer, an experienced home buyer or a real estate investor, we at Bethany Real Estate and Investments always put your interest first. Some agents only care about making the sale. We on the other hand, want you to succeed when buying or selling your home. We listen and understand your needs, and we have the expertise and patience to help you. Not many real estate agents have gone through 3 real estate boom/bust cycles in CA. We have and we can share with you the experience we gained. Because real estate is so cyclical, it is crucial for you to know where you are in the cycle, before you buy. This could make a difference between a loss and a gain. I myself have been a successful real estate investor for many years and do not really have to rely on commissions for a living. Therefore I can afford to let a deal go, if it's not in the best interest of my client.
Buying or Selling a home can be one of the biggest investment that one makes in a persons life. We therefore take our role as a Real Estate Broker seriously and we represent your interest the best way we can, throughout the process whether it is the selling or buying of a property.
We offer the highest quality of service to our clients at the lowest commission.
We pride ourselves on the way we do business. Our core values are:
Honesty and Integrity
Trust and Experience
Service
Our Guarantee
We realize that the real estate industry is changing fast. We have decided to radically change our business model and give our clients a compelling proposition. As a small company, with our lower overhead we are able to offer our Sellers the best and most comprehensive listing package in the industry (click here for more detail). Based on our experience, in most cases, with our listing strategy, we were able to reduce the time to procure an offer to 2 weeks or less.
Unlike other agents who tell you how many homes they sell, we just guarantee our clients, that we give the best service to them, and more importantly we deliver the highest net proceeds to our sellers.
Whether it is in the Bay Area or the Greater Sacramento area, we will provide Buyers with the latest comprehensive information that will help you to identify the properties that will best suit your needs.We will then help you negotiate with Sellers, Lenders, etc. to get you the best deal possible. We also link you with you with Banks, Mortgage Brokers, Termite Inspectors, Home Inspectors, Roof Inspectors, Contractors, and other service providers that will help you to close the deal efficiently and in the most cost effective fashion.
For the Real Estate Investor that is looking to buy an undervalued property as an investment, we can help by providing a turn key service. From procurement, rehab (renovation), property management, maintenance, 1031 exchange, tax issues, resale, etc. we will provide you with the right information and the best professionals that can help you meet your investment objectives.
Call Us at 916 230 5250 and find out what you have been missing.
