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Getting Behind the Numbers in Real Estate

Today I wanted to stop by to talk about how the blend in the market is affecting inventory, values, and the perceptions of values. The overall inventory numbers really haven't changed much over the last several years, but the numbers within the numbers have changed. I wanted to explain what that does to values and the perception of values.

I wanted to show you how different neighborhoods, different price ranges, and different types of properties all matter. We hear that median prices have gone up 12.8% in the last 12 months. You read a lot of headlines about prices going up, but what does that mean? Well, it depends. If you bought a house in the last five years in a specific zip code or price range, there are probably some things that you want to know about.

It's best to understand these things early in the planning stage. In some neighborhoods, prices have held steady while some have actually risen quite a bit. For buyers, we do reports on price ranges and what price ranges are doing as far as competition and what you're going to be able to expect when you get out there in the market. For sellers, we do these kinds of reports based on square footage, as well as the size, age, and the type of the property.

These reports help you know what 
you can really expect.

It's a good way to get started so you know what to expect. We can build these reports for your neighborhood and price range. For buyers, we can also put together these reports to help you know what to expect in certain areas and for certain types of properties.

If you'd like a custom report or you have any questions about the Sacramento real estate market, give me a call or send me an email. I would be happy to help you!

What’s Happening in the Current Real Estate Market?

I’m out on a ride today with Flossy looking for some boundary markers for a lot I’m getting ready to list on the market, and just wanted to bring you a quick market report.

The Greater Sacramento Area market looks strong this month, with 45 homes priced $500,000 to $600,000 listed for sale this month, which is down 10% from last month. For homes priced $150,000 to $250,000, we saw no change in the number of homes listed for sale.

Even though there has been a decrease in the number homes that are currently on the market, that does not mean there has been a decline in the $500,000 to $600,000 price range. There has been a 61.5% increase in the number of homes sold this month compared to last month. In short, supply might be down but demand is high, making it the right time to make your move now. To get more information about the current market please reach out to me at 916-316-3810.

Now is the time to make your 
move in our market.
In the Folsom market, homes priced $500,000 to $600,000 saw a 24.1% increase in the number of homes listed on the market, but a 22.9% decrease in the number of homes sold. In homes priced $150,000 to $250,000, the number of homes listed for sale decreased by 50%, and we didn’t see much of a change in the number of homes sold.
For the tri-county area as a whole, we saw a 7.5% increase in the number of homes listed for sale, but a 16.9% decrease in the amount of homes sold. This is a 12.9% decrease from last year.

Looks like Flossy and I found the property marker! If you’ve got any questions about anything related to the current market or real estate, give me a call at 916-316-3810 or email me directly at Forth@thehoytgroup.com. I’d be happy to help you!

What Keeps Clients Coming Back to The Hoyt Group

Dave and Rose have known Forth Hoyt for nearly a decade after successfully completing five home transactions together.

"(They are) another example of the great friendships and great people that I've been able to work with over the years," Forth says.

Rose says what she appreciates most about Forth and his team is that they truly care about their clients, rather than just the commission at the end of the road.

"He's genuine, and when he says something, you can trust him. His word is good. He's friendly and he's to the point," Rose says. "If you say you want to list your house for $500,000 and it's only worth $300,000, he has the ability, the tact, to tell you that if you want your house sold, this is what we need to do. He won't say no, but he'll put the options out there and be honest with you."

When Forth says something, you can trust him.

Rose applauds Forth for staying up-to-date on all the local and national real estate trends because of how much they help his clients.

"He's up on current events that affect the housing market. He's just very knowledgeable, and he uses that knowledge to get the best price for your home," she says.

Most recently, Dave and Rose listed their house on the MLS on a Wednesday, held an open house two days later on a Friday, and had an offer coming in by the next morning.

"It had a lot to do with how he markets. He's very thorough," Rose says. "He represented us very well when we've purchased homes with him. He makes sure that our interests are protected going over documentation. We've bought and sold a lot of homes, but there's always new forms, new documents, new laws, and he makes sure we're aware of that. He just doesn't assume we know."

The team's genuine concern for Dave and Rose kept them coming back in the future.

"They're in constant communication," Rose says. "If I call, they're genuinely interested in my question, whether I've asked it 10 times before or not. They're always willing to help answer a question, whereas other agents we've worked with, we got the feeling that all they're interested in is that dollar sign, that commission money at the end, and I don't feel that way with Forth. I feel he and his group try to stay updated as much as possible. He's not afraid to invest his money into his team to make sure they're getting 100%."

"I would definitely recommend Forth Hoyt and his group. We would not have gone back to them if we did not fully believe in them and their service and how they treat people. We would use them again."