Wednesday, April 2, 2008

April 2008 Good Buys & Offers to Builders

There was only one post for March and I know there are quite a few "good buys" out there these days. So don't be shy this month. FWIW - The "good buys" section of this blog generates the most daily hits.

Please post homes you think are a good buy or any offers you know of that were accepted, especially to builders. It will help give others negotiating leverage when they are ready to buy. Even just letting people know what type of builder incentives they can expect would be helpful since its hard to tell if they give everyone the same incentives.

Pieces of data to include: Zip Code, MLS or Development Name, List Price, Incentives, Offer (if any), house details (sq ft, garage size, lots size etc).Feel free to post info for homes anywhere in the Sacramento Metro area.

Just cause I tend to confine my search to the Gold River, Folsom, El Dorado Hills, Cameron Park areas doesn't mean others have to.


OntheSidelines said...

This is a little off topic...but can anyone tell where I can get the median home price per square foot in Folsom (95630) as far back as 1980.

I want to create a graph showing these trends from 1980 through 2007.

Thanks in advance.

Gwynster said...

Welcome to my world. As far as I can tell, there isn't a dataset available.

Mike said...

I don't think there are really "Good" buys out there yet. There are some "Just OK' buys out there but mostly still overpriced.

Frustrating thing is, lot of those "Just OK" buys are drawing multiple offers and selling within 2-3 weeks of coming to market. So I can't even purchase "Just OK" deals as I am being outbid by "investors." Made four offers, zero acceptance so far.

Jacob said...

Well its "good buys" right now. Not bottom priced homes.

Jacob said...

I have been tracking Roseville / Rocklin / Lincoln area for a while now. Each month there are more and more homes in my criteria.

166 today, was around 100 at the end of last year.

I remember when the homes first broke the $300k barrier, not I am seeing several below $250k.

MLS: 80030719 Lincoln
$266, 000
3 bed 2 bath 2305 Ft2, 8579 Ft2 Lot.

Has a pool, decent lot size.

Was bought in 04 for $419k so this is ~37% off.

HOA kills it tho. I just can't see paying $100+ a month for someone to tell me what color I can paint my house and complain if the grass isn't cut to exactly 1 inch. lol

But I am liking the prices I am seeing. I will probably not buy in Lincoln tho, we'll see, but that area may get destroyed. At least now I can change my criteria and still get plenty of hits.

Gwynster said...

Well I'm looking, approval in hand and I just can't find anything to get excited about >; (

Give me a 1600 sqft vintage house in Woodland under 200k (nothing higher is getting through underwriting apparently) and we'll talk. Send offers to

Patient Renter said...

I am being outbid by "investors."

At least you can live with the satisfaction of knowing those "investors" will probably end up in the situation as the "investors" who came before them: holding an asset worth significantly less than they paid for it.

Mike said...

"HOA kills it tho. I just can't see paying $100+ a month"

HOA is the least of your problem there. Mello Roos is like $300/Month on top of your regular property tax, just to live there.

Throw in long distance to Sac and "Just OK" schools. There is reason Lincoln is cheaper compared to Roseville/Rocklin.

Lincoln reminds me of Anatolia. Cheap priced homes, high HOA and Mello Roos.

Sippn said...

When you look at developments with mellow roos + HOA fees vs those w/o...

At today's rates, $100,000 in purchase price is $500 per month interest less tax credits.

So you can weigh a $200,000 home with $400 per month in fees vs a $280,000 home with zero fees. The fees may not be deductable.

Many Sac co infil neighborhoods are fee free (more buying power)


I'm also looking in the Roseville, Rocklin, Lincoln areas, not seeiing many deals. People are still too anxious to get into a home. I wouldn't pay more than $100/sqft for Lincoln, if at all. The March Good Buy I put up there looks like the best deal I've seen since the bubble pop, not sure I'll see anymore like that. Too much money on the sidelines waiting to get in. Stupid is as stupid does.

Jacob said...

Ok here is my pick for April.

This was very tempting, but I already decided I won't even consider anything until 09.

Lincoln - MLS #80012430
2612 Ft2
13998 Ft2 Lot :)
5 Bed 3 Bath

Built in 04, No HOA and No Mello Roos.

$319,000 ($122 Per Ft2)

Been on the market for 61 days.

Looks really good, but I must wait.

norcaljeff said...

Jacob, you can do much better than that in that part of Lincoln. They are in bad shape, and on flood plain. Not worth anything more than $100/sqft but maybe not even that much.

Jacob said...
This comment has been removed by the author.
Jacob said...

yea, that is true. Initially I was looking in Roseville, Rocklin, Lincoln, but have recently shied away from Lincoln and am really looking at Roseville / Rocklin.

But it is still nice to see some of these price drops. I haven't actually gone to any homes or even looked at the sub divisions, not seriously looking this year anyway, just snooping around online.

But for this one, the good sized lot and no HOA or Mello-Roos is what caught my attention.

norcaljeff said...

MLS: 80006150 Roseville
4 bed 2 bath 3032 Ft2, sold in 2006 for $890k.

Mike said...

"Lincoln - MLS #80012430 2612 Ft2
13998 Ft2 Lot 5 Bed 3 Bath"


This house is a "Short Sale" and you have to take Short Sale prices with a grain of salt.

Agent/Owner can basically put any price on a short sale homes but until the bank has approved the short sale price it does not mean anything. It is just priced to get people to bid on houses.

You should look at bank repo homes to see the appropriate prices things are selling for in Lincoln.


Did anyone buy a home this month? I'm seeing condo's in Citrus Heights now going for 2001 prices.


Where is the link for the May Good Buys? :)