Wright report1 2013

January - June, 2013

www.WrightRealEstate.us Page 1 (916) 726-8308

Wright Report

Perspectives and Overview of Northern California’s

Residential Real Estate Market:

Including Statistics and Trends for the United States, State of California, and Northern

California Counties. Research, Charts, and Graphs for areas within Sacramento, Placer, Yolo,

El Dorado & San Joaquin Counties.

January to June, 2013

TTHHEE WWRRIIGGHHTT RREEPPOORRTT



Wright Report

The Wright Report

Prepared by:

Prepared By: Joel Wright

Document Version: Final

Last Updated On: September, 2013



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This work is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported

License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/

or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco,

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TABLE OF CONTENTS

TABLE OF CONTENTS ....................................................................................................................... 4

THE EXPERTS WEIGH IN: .................................................................................................................. 6

Sacramento Appraiser: Ryan Lundquist ........................................................................ 6

Rental Housing Association: Jim Lofgren....................................................................... 8

MARKET UPDATE: ............................................................................................................................ 9

THE ECONOMY: ............................................................................................................................. 14

BANKING & LENDING: ................................................................................................................... 15

DISTRESSED PROPERTIES: .............................................................................................................. 18

COUNTY STATISTICS: ..................................................................................................................... 21

Sacramento County ..................................................................................................... 21

Placer County .............................................................................................................. 22

El Dorado County ......................................................................................................... 24

Yolo County ................................................................................................................. 24

San Joaquin County ..................................................................................................... 26

HISTORICAL PRICE GRAPHS: .......................................................................................................... 28

PLACER COUNTY: ........................................................................................................................... 29

SACRAMENTO COUNTY: ................................................................................................................ 31

RESOURCES: ................................................................................................................................... 39



Wright Report

EXECUTIVE SUMMARY:

As the residential real estate market makes a comeback in Sacramento

we saw a huge price increase from June 2012 to June 2013 (+44.5%).

Where we will land is not yet known, but it appears that a slowdown

seems inevitable for several reasons.

• Interest rates rose dramatically in June 2013 on the

announcement by the FED that they would begin to taper off QE-

3. Higher interest rates are inevitable.

• Inventory has increased dramatically - 155% from January to

September; but with the increase in sellers the buyer demand

remains the same.

• Distressed property inventory has declined dramatically. Banks’

inventory of REOs has dropped as they are more hesitant to

foreclose. Short sales are also becoming rare as delinquent

owners can increasingly get a loan modification or sell their

home for a profit.

• Institutional investors are reducing the number of purchases as

prices increase and margins decline.

Unfortunately, the housing recovery has not been the spring board to

national recovery that was expected. While, on one hand, the stock

market has reached all-time highs, and banking and financial

institutions bring in significant profits, conversely, the unemployment

rate is still high, job growth is slow, and median income remains

stagnant.

Ultimately, it appears the greater Sacramento market will continue to

rise, and there is plenty of room for price growth. So despite

continued national economic troubles, housing will keep driving

forward.



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THE EXPERTS WEIGH IN:

Sacramento Appraiser: Ryan Lundquist

The Sacramento Market is Beginning to Shift Again

The market in Sacramento experienced a dramatic shift just over one year ago as property values bottomed out, inventory dried up and investors purchased homes at an exponential pace. Now the market has begun to shift again and is beginning to “normalize”. We are seeing less cash sales, properties are taking slightly longer to sell and there has been an uptick in housing supply. The market overall is still increasing in property value, but the gap between sales and listings is definitely getting smaller, which has made it crucial to study the market and list properties at a reasonable price level.

Having less cash purchases has effectively created slightly more space for owner-occupant buyers as well as FHA offers to be accepted. For instance, FHA saw a 2% increase in July and August 2013 in Sacramento County. Part of this increase is due to an uptick in housing supply and less cash in the market, but some of it may also be due to FHA announcing in early July that it will now accept buyers who have been through foreclosure from as little as one year ago. This new rule will help create a larger pool of buyers ready for the market just as inventory has begun to increase again.



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In light of the median price skyrocketing over the course of the year, the market under $200,000 has become far more competitive for first-time buyers and investors. The vast bulk of cash purchases are still under $200,000 in Sacramento County, though keep in mind about 25% of all sales between $200,000 to $300,000 were cash in Q2. That’s a strong market segment.

Ultimately the market is still heavily in favor of sellers since there is only a one to two-month supply of inventory available, but the market has definitely begun to shift in Sacramento.

Ryan Lundquist is a Certified Real Estate Appraiser in the Greater Sacramento Area. He also

specializes in reducing property taxes. Check out his great Blog at

www.SacramentoAppraisalBlog.com or contact directly at (916) 595-3735.



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Rental Housing Association: Jim Lofgren

Rental housing inspection programs enacted by cities and counties continue to be the major

issue facing rental owner and managers in the Greater Sacramento region. Under the typical

inspection programs, owners must register their properties with the local jurisdiction, pay an

annual fee, allow code enforcement officials to inspect properties for compliance with health

and safety codes, and provide residents with certain government approved forms.

The Sacramento City Council recently modified its inspection ordinance. At the urging of RHA,

the City Council lowered the annual fee by $12, from $28 per unit to $16. The Council also

granted rental owners the option of self-certification if their property passed the initial

inspection. Under self-certification, annual inspections are required, but can be performed by

either the owner or an employee or third party who completes the city-approved inspection

certification course. (Training available through RHA.) Owners whose property did not pass the

initial inspection will be subject to annual inspections at a cost of $127 for every unit inspected.

The County of Sacramento has a similar inspection program and recently increased its annual

fee to $15.50 per unit. However, the County program does not require an initial inspection by its

staff. Instead, like the City of Sacramento, it allows owners or someone who completes an

approved course to perform the required annual inspection. County staff will ensure compliance

through random audits.

Both the City and the County of Sacramento require the use of their inspection checklist and a

resident of the rental unit must sign and receive a copy of the completed form. Both

jurisdictions also require owners to provide residents with a copy of the Resident’s Rights Form,

a new document that both the owner and residents must sign at the inception of every tenancy.

(Free copies of these forms may be downloaded from the RHA website at www.RHA.org.)

Elsewhere in the region, the City of Rancho Cordova has an inspection ordinance, but with fewer

requirements, and the City of Elk Grove, City of West Sacramento and a few others in the region

have considered establishing their own programs.

Other local issues facing rental owners include the spread of bed bugs, rate increases for water,

sewer and other utilities, and a rise in contested unlawful detainer cases, thanks in part to

eviction delay tactics encouraged by tenant advocates.

Jim Lofgren is the Executive Director of the Rental Housing Association of Sacramento Valley, a

non-profit trade association representing owners and managers of over 80,000 rental units. For

more information, call (916) 920-1120, visit www.RHA.org or email [email protected].

www.WrightRealEstate.us

Wright Report

MARKET UPDATE:

The median price in the U.S.

12.2% from June 2012. June 2013 the median sold price in CA hit

$415,770, up 31.4% from

the $469,500 peak in 2006.

$285,920 price in Q2-12 an

Affordability is down 5 points

affordability hit 36% in Q2

points from 51% in Q2-

http://www.inman.com/2013/06/10/economists

In Sacramento County the median price rose to $

44.5% from the median price i

Sacramento County for June 2013 was $274,051

2012, and up 38% from

January

Page 9

The median price in the U.S. crested to $203,000 in June 2013, up


% from $316,490 Q2-12 and is only 11.4% from

the $469,500 peak in 2006. That median price is up 45% from the

12 and 69% from the 2009 bottom of $245,000.

5 points to 60% across the nation. In CA

% in Q2-2013, down 8 points from Q1-13 and

-12.

http://www.inman.com/2013/06/10/economists-temper-housing-bubble-worries/

County the median price rose to $245,908 in

% from the median price in June 2012. The average sold price

for June 2013 was $274,051 up 22% from Dec.

% from June last year.


(916) 726-8308

crested to $203,000 in June 2013, up


% from

45% from the

69% from the 2009 bottom of $245,000.

across the nation. In CA

13 and 15

worries/

in June, up

. The average sold price for

up 22% from Dec.



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COUNTY Average Sold Price %

Change

12-Jun 13-Jun

Sacramento $198,515 $274,051 38.05%

Placer $326,190 $404,911 24.13%

El Dorado $305,742 $390,080 27.58%

Yolo $301,982 $343,567 13.77%

Since the market turned downward in September 2005 it declined 59%

in median price for single family homes (SFR) with the lowest point

being $160,000 in January 2012. Since that point the market rose

54% through June this year.

In Sacramento County 26.1% of sales in June 2013 were distressed

sales (short sales or REO), down from 63% from a year before. In



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Sacramento County short sales make up 18.6% of sold properties.

REOs (foreclosed bank owned sales) made up 7.5% of sales.

The chart describes the variation of sold price by Seller Type in the five

counties surrounding Sacramento for the month of June 2013.

SELLER TYPE Average Sold Price by County (June 2013)

Placer Sacramento El Dorado Yolo San Joaquin

Total Sold $404,911 $274,051 $390,080 $343,567 $234,471

Conventional $423,601 $296,058 $418,273 $370,988 $256,931

Foreclosure $288,023 $215,487 $269,327 $212,464 $196,605

Short Sale $315,785 $210,509 $319,000 $263,421 $191,373

In Sacramento County the inventory of homes available for sale had

increase substantially through the first 2 quarters of 2013: 989 units

on January 1, 2013 to 1,928 on July 1, 2013.

In June 2013 the months of unsold inventory in Sacramento County is

1.1 months. In June homes sold for an average of 3% above the

original asking price with the biggest shift being Short Sales which sold

for an average of 6% over list price. REO’s sold for 4% over list price.

COUNTY Inventory for Sale %

Change

January-13 July-13

Sacramento 989 1,928 95%

Placer 472 796 69%

El Dorado 428 605 41%

Yolo 132 183 39%

Inventory continues to remain low, especially distressed inventory

which has declined substantially through the year. National inventory

is down 5.24% in July 2013 compared to July 2012, though it was up

16% over January 2013.



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Sales of homes across the nation are expected to exceed 5 million

units this year: up from 4.51 million in 2012. As sales increase and

prices increase the amount of investor activity is beginning to decline.

In June 19.7% of sales went to investors, down from 23% in February.

2013. Also the number of investors that say they are planning to hold

is up, as compared to investors saying they plan to flip their

properties.

Cash sales in June 2013 were 30% across the U.S. and 30% in

Sacramento County also.

Affordability is also down 9 points across the nation from Q4-12.

California is down 8 points and Sacramento an incredible 15 points!

AFFORDABILITY

%

Quarter 4- 2012 Quarter 2- 2013

United States 69% 60%

California 48% 36%

Sacramento Cnty. 71% 56%

As the median price rises banks find it desirable to hold on to

inventory longer and postpone foreclosure sales more frequently. This

extra time allows for appreciation to increase the sale price and the

amount of money they will receive upon closing. This is a tactic banks

also employed in 2009, limiting inventory to drive prices up, without

success.

Another factor that will definitely play into the housing market in the

foreseeable future is household formation. Home ownership rates

have declined for the 25-34 age group, and that group has also held

off on forming new households over the past several years. This sharp

loss will likely be made up in the coming years and will contribute to

increased demand for housing across the nation.


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positively to U.S. GDP in 2013, and to

economic growth. New home growth is expected to surpass 22% i

2013 and sell close to 500,000 SFR homes.

http://www.inman.com/2013/06/10/economists

Year

# of “missing”

households,

millions

2008 0.9

2009 1.8

2010 2.6

2011 2.6

2012 2.3

2013 2.4

January

Page 13

http://trends.truliablog.com/category/household

formation/

New household formation is typically over 1

million annually, so with current estimates

there are over 2 years of pent up dema

that has been postponed and will likely come

back as the economy improves.

New housing is also expected to contribute

GDP in 2013, and to be a primary driver of jobs and

economic growth. New home growth is expected to surpass 22% i

2013 and sell close to 500,000 SFR homes.

http://www.inman.com/2013/06/10/economists-temper-housing-bubble-worries/


(916) 726-8308

http://trends.truliablog.com/category/household-

New household formation is typically over 1

o with current estimates

pent up demand

that has been postponed and will likely come

expected to contribute

be a primary driver of jobs and

economic growth. New home growth is expected to surpass 22% in

worries/



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THE ECONOMY:

GDP growth for the U.S. economy is expected to be between 1% and 2% for

2013. That is not the great recovery we have been expecting once the

housing market saw it’s turn around. While prices rose 12.2% nationally and

new construction numbers are up more than 20%, with all it’s job growth,

housing was expected to lead the economy out of the downturn. We can see

that wasn’t the case.

Employment numbers still hover under 200,000 per month hardly more than

the 150,000 new folks looking for employment every month – so it’s

essentially stagnant. New job growth, while occurring, is low-paying,

primarily part-time, and therefore in higher turnover sectors of the economy.

www.LundquistCompany.com

There is increasing distrust of huge fiscal debts, surpassed debt ceilings, and

spend more to make more strategies. As the old saying goes “discretion is

the better part of valor,” it appears businesses everywhere are employing it.



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BANKING & LENDING:

The market has changed as lending begins to loosen up across the

U.S. There is an increased demand for sub-prime loans which have

been on the “don’t touch” list for nearly all banks since the downturn.

There are also some loan programs appearing that resemble

flashbacks to 2005, such as 3% down conventional loans.

Bank of America is once again involved in a suit, this time with the

SEC & Justice Department for apparently misrepresenting a

$855,000,000 Residential Mortgage Backed Security (RMBS).

Apparently some of the loans packaged in the fund did not even fit

with BofA’s own current lending guidelines.

Whether BofA is guilty or not of these indiscretions, it is good to see

oversight of RMBS’. This will hopefully prevent the indiscretions which

led to the 2008 “Great Recession.”

Rates spiked up in June, largely due to the Fed’s announcement that

they may decide to pull back on purchases of RMBS bonds, where it is

currently spending 42 Billion each month to keep the bond markets

moving. As economic factors improve, bond purchases would not be

required, and they are saying they hope to wind down their spending

by the end of 2013 or 2014. It seems this announcement scared the

markets because interest rates jumped a half percent: 4.1 on June 1

to 4.37% on July 1. Also, this shows that the economy is heavily

dependent upon FED stimulation. It seems that decreased bond

purchases by the FED is an eventuality that must come, as this

practice is not sustainable long term.


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http://buzz.money.cnn.com/2013/08/15/dont

Historically, rates have averaged 8.2% over the last 40 years (1973

2013) and they have averaged 4.2% since

the possibility of a Fed pullout, but higher interest rates will have

varied affect on the economy. Naturally

more expensive which is bad for businesses looking to build and grow.

Increased rates may he

as opposed to the stratospheric increases currently experienced in

some cities like Sacramento (44.5% annual price increase)

Sustainable growth will help us decrease the chance of a bubble in the

near future. Rising rates will also

seriously consider their purchases.

January

Page 16

http://buzz.money.cnn.com/2013/08/15/dont-be-a-bond-chicken-little/

Historically, rates have averaged 8.2% over the last 40 years (1973

2013) and they have averaged 4.2% since June 2011. Rates rose on


varied affect on the economy. Naturally, borrowing money will be


Increased rates may help the housing market grow more sustainably,


Sacramento (44.5% annual price increase).


Rising rates will also cause homeowners to more

ly consider their purchases.


(916) 726-8308

Historically, rates have averaged 8.2% over the last 40 years (1973-

Rates rose on


will be


grow more sustainably,



cause homeowners to more



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http://research.stlouisfed.org/fred2/series/MORTG

Higher rates will also lessen the number of refinances banks will be

doing, which will lower their income from lending, which will likely

cause them to loosen lending restrictions and overlay requirements

currently on loans, which will make it easier for borrowers to purchase.

This will open the market to more buyers.

BANK Income Q2-2013 vs. 2012

Q2-13 Q2-12

Wells Fargo 5.5 B 4.6 B

Chase 6.5 B 5 B

Bank of America 4 B 2.5 B

Citibank 4.2 B 2.9 B

There is still not a lot of traction to create a secondary market that will

replace Fannie Mae & Freddie Mac. While there have been a couple of

bills proposed on Capitol Hill nothing has stuck yet, and it does not

seem to be an easy resolution. Not only is it structurally unfeasible to



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do away with the only entities that make lending possible, but it is

politically difficult to do away with them now that they are bringing in

billions annually to pay what they borrowed and leave a positive

balance sheet.

Needless to say, nothing is likely to be done for several years, and

there is no clear vision of how to phase the giants “out” and bring the

rest of the market “in” to take their place.

DISTRESSED PROPERTIES:

The National Mortgage Delinquency Rate has declined across the U.S.

to 6.96% in Q2-13. That is down from 7.25% in Q1-13 and 7.58% in

Q2-12. The percentage of mortgages that are 90 days delinquent or

more is 2.65% in Q2-13, down from 2.88% in Q1 and 3.19% in Q2-

12.

Properties that are 30 days or more delinquent with those in the

foreclosure process amount to 4.78 million properties. Approximately

1.46 million in pre-foreclosure and 3.32 million that are 30 days or

more late.

Of the properties that are already foreclosed on, states with judicial

foreclosure processes end up having about 3 times as many properties

on their books as states with non-judicial foreclosure processes

because it requires them to take far more time to perform the

foreclosure, the holding period, and the sale due to the nature of the

process.

Since September 2008 some 4.5 million homes have been foreclosed

on in the U.S. In June 2013 there were some 55,000 that were lost to

foreclosure by banks; down 20% from June 2012.



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Foreclosure starts are down to 329,000 in Q2-13 30% from Q1 and

38% from Q2-12. Foreclosure sales (158,000 for the quarter) are

down 15% from Q2-12.

Loan modifications are up significantly for two reasons. First, lenders

have gained something of a distaste for foreclose and second, sale

prices have increased so delinquent homeowners become more

qualified. They are up to 204,000 in Q2-13 about 13% from Q2-12.

6.52 million modifications have been performed since 2007.

While delinquency has decreased it is not yet at normal levels and

estimates are that near 800,000 foreclosures will be started in 2013,

down from 1.1 million in 2012.

Inventory of REO properties for sale in Sacramento County continues

to drop in the first half of 2013. January 1, 2013 saw 155 REO

properties available for sale. By the end of Q2-2-12 it dropped 14% to

133 units(July 1.) The average marketing time in December 2012 for

REOs was 29 days, in June 2013 that went up to 39 days.

Filings: California NOD (Notice of Default) filings fell 25% and NOT

(Notice of Trustee Sale) filings fell 52% from December 2012 to June

2013. The number of properties that went back to the bank fell 67%

during the same period to 1,173 from 3,578 in December 2012.

In Sacramento the number of filings of NOD fell 42% and NOT filings

fell 52% from December 2012 to June 2013. The number of

properties that went back to the bank fell 75% from December 2012

with 52 properties going to the bank in June 2013. The number of

days to foreclosure in Sacramento County increased 23% to 309 days

and the number of days it took for the banks to sell increased to 312

days on average.

Inventory: Pre-foreclosure inventory (NOD - Notice of Default) in

California is down 19% to 47,762 (June 2013) from 59,076 (Dec.

2012). NOT (Notice of Trustee Sale) inventory is down 58% for the

same period to 25,117 units, and the number of bank owned inventory



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(REOs) is down 25% to 44,471 in June from 59,529 units in December

2012.

Sacramento County inventory went down 30% from 3,140 in Dec.

2012 to 2,203 in June 2013. NOT inventory went down 61% for the

same period to 1,060 units, and the number of bank owned inventory

(REOs) is down 28% to 1,954 units from 2,712 units in December

2012.



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COUNTY STATISTICS:

Sacramento County

The year started, January 1, 2013, with 989 listings and ended the

second Quarter (July 1, 2013) with 1928 listing available for sale.

That is a 95% increase in the first 2 quarters of this year.



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REO (Real Estate Owned- foreclosed properties) inventory is down

14% since January 1 and Active Short Sales are down 20% over the

same period. Conventional sales inventory is up 141% from 697 in

January to 1,685 in July 2013.

Pending: Pending sales are up 27% from Jan. 1, 2013 to July 1,

2013: from 1,680 to 2,134 homes. Pending foreclosure sales are

down 41% and pending short sales are down 40% for the same

period. Pending conventional sales are up 71% to 1,743 pending

homes.

AVERAGE SOLD PRICE by SELLER

TYPE

# Sold June 2013

# Sold June 2012

Yr/Yr % Change

Average Sold Price June 13


Yr/Yr % Change

Total Sold 1464 1705 -14.1% $274,051 $198,515 38.1%

REO 110 390 -71.8% $215,487 $148,411 45.2%

Conventional 1081 795 36.0% $296,058 $235,878 25.5%

Short Sale 273 520 -47.5% $210,509 $178,970 17.6%

Sold: Sales numbers for SFR (Single Family Residence) for June 2013

were 1,464 units sold in Sacramento County. Foreclosures accounted

for 6.9% of properties on the market in June, and 7.5% of sales.

Short sales accounted for 5.7% of all Active inventory, and 18.6% of

sales. Conventional sales accounted for the rest (87.4%) of Active

inventory and 73.8% of sales. That is up from 49% of sales in

January of 2013.

Placer County


second Quarter (July 1, 2013) with 796 listing available for sale. That

is a 69% increase. REO (foreclosure) inventory is down 78% since

January 1, 2013 and Active Short Sales are down 46% over the same

period. Conventional sales inventory is up 86% over the same period.



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2013: from 454 to 718 homes. Pending foreclosure sales are down

39% and pending short sales are down 23% for the same period.

Pending conventional sales are up 103% to 613 pending homes.


TYPE

# Sold June 2013

# Sold June 2012

Yr/Yr % Change



Yr/Yr % Change

Total Sold 555 496 11.9% $404,911 $326,190 24.1%

REO 28 78 -64.1% $288,023 $260,813 10.4%

Conventional 466 288 61.8% $423,601 $362,901 16.7%

Short Sale 61 130 -53.1% $315,785 $284,085 11.2%


were 555 units sold. Foreclosures accounted for 3% of properties on

the market the end of Q2-13, and 5% of sales in June 2013. Short

sales accounted for 3.5% of all Active inventory, and 11% of sales.

Conventional sales accounted for the rest (93.3%) of Active inventory

and 84% of sales in June. That is up from 53% of sales in December

of 2012.



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El Dorado County



is a 41% increase. REO (foreclosure) inventory is down 32% since

January 1, 2012 and Active Short Sales are up 12.5% over the same







TYPE

# Sold June 2013

# Sold June 2012

Yr/Yr % Change



Yr/Yr % Change

Total Sold 243 249 -2.4% $390,080 $305,742 27.6%

REO 28 63 -55.6% $269,327 $213,905 25.9%

Conventional 188 138 36.2% $418,273 $351,262 19.1%

Short Sale 27 47 -42.6% $319,000 $294,217 8.4%


were 243 units sold. Foreclosures accounted for 5% of properties on

the market the end of Q2-13, and 11.5% of sales in June 2013. Short

sales accounted for 6% of all Active inventory, and 11.1% of sales.

Conventional sales accounted for the rest (89%) of Active inventory

and 77.4% of sales. That is up from 61.3% of sales in December of

2012.

Yolo County



is a 39% increase. REO (foreclosure) inventory is up 12% since

January 1, 2013 and Active Short Sales are down 55% over the same




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TYPE

# Sold June 2013

# Sold June 2012

Yr/Yr % Change



Yr/Yr % Change

Total Sold 166 181 -8.3% $343,567 $301,982 13.8%

REO 7 36 -80.6% $212,464 $192,489 10.4%

Conventional 127 99 28.3% $370,988 $385,363 -3.7%

Short Sale 32 46 -30.4% $263,421 $208,219 26.5%


were 166 units sold. Foreclosures accounted for 7.7% of properties on


sales accounted for 4.9% of all Active inventory, and 19.3% of sales.


and 76.5% of sales. That is up from 56% of sales in December of

2012.



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San Joaquin County



is a 11% increase. REO (foreclosure) inventory is down 46% from

January 1 to July 1, 2013 and Active Short Sales are down 50.5%.

Conventional sales inventory is up 43%.



50%. Pending short sales are down 30.5%, and pending conventional

sales are up 71.4%.


TYPE

# Sold June 2013

# Sold Dec. 2012

Yr/Yr % Change



Yr/Yr % Change

Total Sold 583 725 -19.6% $234,471 $204,235 14.8%

REO 66 135 -51.1% $196,605 $161,250 21.9%

Conventional 378 339 11.5% $256,931 $224,778 14.3%

Short Sale 139 251 -44.6% $191,373 $199,610 -4.1%



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were 583 units sold. Foreclosures accounted for 8.3% of properties on


sales accounted for 7.8% of all Active inventory, and 23.8% of sales.


and 64.8% of sales. That is up from 46.8% of sales in December of

2011.



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HISTORICAL PRICE GRAPHS:



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PLACER COUNTY:



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SACRAMENTO COUNTY:



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RESOURCES:

ABREVIATIONS

CAR = California Association of Realtors

HAFA = Home Affordable Foreclosure Alternative

HAMP = Home Affordable Mortgage Program

MLS = Multiple Listing Service

NAR = National Association of Realtors

NOD = Notice of Default

NOT = Notice of Trustee Sale

REO = Real Estate Owned by a bank, or foreclosure

SAR = Sacramento Association of Realtors

WRE = Wright Real Estate

ADDITIONAL RESOURCES

MetrolistMLS.com - to search for properties. www.metrolistmls.com

NorthState Building Industry Association (BIA) www.northstatebia.org

Rental Housing Association (RHA) www.rha.org

Sacramento Association of Realtors (SAR) www.sacrealtor.org



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Serving Sacramento since 2000.

Check out our BLOG and additional STATISTICS on the web at:

www.WrightRealEstate.US

For FREE Information and Consulting Services contact us:

Office: 916.726.8308 [email protected]