As you can see from the following graphs, the market is in transition back to a Seller's market. A Seller's market is where there is 6 months of inventory or less. The attached Supply graph shows 3 months supply in Sacramento and Placer Counties. The market has been swinging back to a Seller's market since January 2008. The only factor keeping traditional Sellers from listing their homes is the number of bank-owned homes and Short Sales on the market. (50% of the listings are short sales in 4/09). You will be competing with them when you list your home. So you must have the mindset that your home should be priced to be the "next sale." If you can't do this, then my advice is to continue to wait unles you absolutely "must sell" your home.
Probably the most important statistic of these four pages, is that the median value is staying low and even getting lower (31% lower in Sacramento County since one year ago) and (17% lower in Placer County since a year ago). Although interest rates have been fluctuating but are generally historically low, could there be a more perfect time to buy? --I don't think so. If you still aren't convinced that this is a great time to buy, the attached graph and data shows interest rates on 30-year fixed loan products for the past 30 years. Interest Rates
You need an agent who knows alternative financing options and one who has other options for you. I have the education, training and experience to meet your needs in this arena.
Please enjoy the graphs and I am available to answer your questions.
Current Market Statistics (updated 5/6/09)
