Looks like we will be checking out the Sacramento home auction this afternoon. Will give a report when we get back.
Update: After reading the fine print while the kids were napping we decided it was going to be a waste of time. With all the additional fees we were put off, then we read about the fact that the seller doesn't have to accept the winning bid. How lame is that. Essentially its just a marketing gimmick.
We decided to go check out Orangevale instead. Went to several open houses. Nice established area, but still pretty overpriced for what you get. We also stopped by the Lennar office at Blackstone....will give a detailed report later.
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Orangevale is also one of the areas I keep an eye on. It's still possible to get a much bigger than average lot there, in some instances you can get small acreages. When prices do come down, it should be one of the first places that begins to hit the numbers .
Orangevale has always been the poor step-child of the 'burbs. I used to live in Citrus Heights, back when CH was bright and shiney. Now, IMHO, Orangevale is a much nicer place than CH.
But homes with asking prices over 500k in Orangevale? I don't think so.
We must have been in the wrong place. Cause two of the open houses we saw off Elm were 600k and over. A third smaller house was very reasonable (under 400K).
The extra elbow room was certainly nice, but the lack of sidewalks was a big drawback for me. Not just for the social and safety aspects, but also because of the weed and road maintanence aspects. The roads seems poorly maintained and crumbled at the edges with lots of weeds growing everywhere. Now that I am thinking about it, I didn't see storm runoff areas. Does it just get kinda wet and soggy there?
On the other hand, I do like the semi-rural country road feel of the area. I actually saw a sign posted that said "this is not a country road."
I saw several homes on CH go very low at the auction. I mean 100K area low. No idea if the banks will let it go.
The best part of the auction was testing the new lows in the market. If the investors weren't biting and the entry level buyer is out, this is a significant event.
Like I said in Sac Landing, folks around me were laughing at some of the prices, basically anything that went over 220k.
not a "county" road... but you could see that. I shouldn't complain about anybody's spelln'.
Carmichael, Fair Oaks and Orangevale actually protects a lot of their "rural character" because some people like it. That prestine look you like in Serrano actually costs a ton of $.
I'm puzzled about the weeds, though, usually the goats don't let them get too high.
G -
That was exactly why I was interested in going....to see what the price/interest level is. From the blog reports it sounded like the last one was a feeding frenzy. I was hoping to see that the novelty has worn off this time with more cautious bidding.
S - "county" opps he he...not paying attention. I don't feel that stormwater managment and sidewalks are too much to ask for. I was caught in a rural area in Santa Rosa, very similiar to Orangevale, two winters ago when they had all the flooding. It was a gigantic mess. And that area in Santa Rosa seems much less weedy/run down even though its is ruralish.
BT said: "We must have been in the wrong place. Cause two of the open houses we saw off Elm were 600k and over."
Clarification: there are homes going for close to a million in Ovale, and that is craziness. "I don't think so" = Cmyst is not even looking at homes in Ovale for over 500K>
I could be wrong, but I think Ovale is high enough elevation that while it may get a big boggy if we have an extended rain, it wouldn't really flood. Although I wouldn't buy a house anywhere near a creek bed in the entire region, unless it was on a pretty significant hill with a creek at the bottom.
Sippn shouldn't diss the goats in Ovale. There's a business up here in high-falutin' EDH that rents out goats to people to keep their large lots under control.
I am heartened and encouraged by Gwynster's auction observations. Perhaps we have reached that watershed moment!
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