What’s the Latest News From Our Market?

A lack of sellers and a lack of new construction means inventory is low in our market.

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What’s been happening lately in our Sacramento market?

As you may recall, in my last video I discussed all the reasons we weren’t in a bubble. I cited in particular a lack of new construction and a lack of sellers.


Right now, we’re still just barely back to peak home prices, and some areas are still not back to peak prices. Over time, we’ve needed about 10,000 to 12,000 new homes a year to keep up with population growth, and since the 1970s, new home construction has never been very constant—it’s either been boom or bust. Our “boom” years had as many as 20,000 new homes, and our “bust” years had as few as 5,000. During our last “bust” year, we were down to 2,500 new homes, and we’re still  currently not back above 10,000 units.


The fact is, unless something weird happens, prices cannot be in a bubble. We’ve had year after year of an average days on market of less than 30 days and an average of less than two months for unsold inventory.


"A surplus of new homes isn’t going to pop up overnight."

The average days on market is the amount of time it takes for a home to go into escrow after the moment it gets listed, but that doesn’t take into consideration the homes that don’t sell. If homes don’t go into escrow, they don’t get included in the average days on market. What does get added into the equation is the unsold inventory, which is what the average months of inventory is—the unsold inventory that’s carried over month after month.

Basically, there aren’t enough places to live. Like I said, unless something weird happens, a surplus of new homes isn’t going to pop up overnight.

In other news, interest rates are going up. Prices might not appreciate as fast as they have been, but every neighborhood is different, and you can’t always tell exactly what’s going on just by looking at the numbers.

If you’re curious what your home is worth or you’re thinking of buying or selling a home, feel free to call or email me. I’d love to talk to you.

Experience Sacramento - April 2018

Experience Sacramento 
Check out this great newsletter we create each month for our family, friends, and clients!   We have scoured the events this month throughout the Greater Sacramento Area to bring you the Best of Sacramento. Check out everything that is happening.



EXPERIENCE SACRAMENTO
Premier Event Newsletter


V101 Freestyle Throwback Jam
GOLDEN 1 CENTER
April 13
PRICING: $30 and up
The biggest names in Freestyle and Old School  music, including Grammy Award nominee TAYLOR DAYNE, The King of Freestyle STEVIE B , The Queen of Freestyle LISA LISA and 80's Pop sensation EXPOSE  collaborate to perform popular rhythmic dance and old school mega hits. 


CalExpo
April 8
PRICING: $49.50 and up


Sabroso Craft Beer, Taco & Music Festival, headlined by The Offspring is a day filled with craft beer, tasty gourmet tacos, Lucha Libre style wrestling and live music! 




Amazing Grace!
HARRIS CENTER
April 1
PRICING: $56 and up
The awe-inspiring true story behind the world's most beloved song - captured in a Broadway musical. "The hymn, which many associate with the civil rights movement, was written in the 18th century by an Englishman who worked in the slave-trading business.


Sacramento "FootGolf"
Tournament

William Land Golf Course 
April 7
PRICING: $50 single, $150 Team of 4
The game is played the same way as golf, except players use a futbol/soccer ball instead of a golf ball, and the ball is kicked rather than struck with a club, working towards a 21-inch "cup" in place of the usual golf hole. Lowest score wins! 

-Every player gets a Puente Futbol Foundation ball, bag, & pump-
-Live Music & Free Beer-
-New & fun challenges on the course for the event only-
-Awards & Special Category Prizes-
-All Ages-



STAR OF ABC'S SHARK
TANK KEVIN O'LEARY
LIVE

Crest Theater
April 19
PRICING: $19.99 and up


WEALTH BUILDING STRATEGIES FROM A SHARK
What You'll Learn at Kevin O'Leary Live!
Just about everyone dreams about finding personal freedom, but for too many, it remains just a dream. Kevin O'Leary has unlocked the secrets of achieving - and keeping - the kind of freedom you long for.




Canon Live Learning
Workshop

GOLDEN 1 CENTER
April 21 & 22
PRICING:  $50


Cars and Cameras! What could be better than combining two hobbies into one great photography workshop?Join Canon Live Learning instructors Jim Rose and Dave Henry in a program designed to help you make great images of cars from all eras - from a 1886 Benz to modern day classics.


CLASSICAL CONCERT:
AARON LARGET-CAPLAN

Crocker Art Museum
April 8
PRICING: $6 and up


Renowned classical guitarist Aaron Larget-Caplan will return for his second appearance at the Crocker Art Museum to showcase the powerful connection between music and visual art. 




Morris Day and The Time

Crest Theater
March 31
PRICING: $55 and up

A 7-foot clown walks into a bar. He motions for a soda water and sits there staring at his drink. The year was 1998 and Puddles had wandered into the Star Community Bar in Atlanta, GA where bartender Big Mike Geier first laid eyes on the sad, silent clown. Known as "The sad clown with the golden voice" and for singing pop anthems with tear-jerking bravura. Puddles is in town for a rare appearance in Sacramento. Don't miss it!

Experience Sacramento - March 2018

Experience Sacramento 
Check out this great newsletter we create each month for our family, friends, and clients!   We have scoured the events this month throughout the Greater Sacramento Area to bring you the Best of Sacramento. Check out everything that is happening.


Summary of Events:



EXPERIENCE SACRAMENTO
Premier Event Newsletter

 Lorde

Lorde

GOLDEN 1 CENTER
March 12
PRICING: $37 and up

After a highly anticipated wait, LORDE has returned - and she's coming to Sacramento. Melodrama, her sophomore album, has been released and so has the news of her World Tour. 



2018 Sacramento Boat Show

CalExpo
March 8-11
PRICING: $12

The Sacramento Boat Show is the largest Power Boat show in Northern California and each year thousands of boating enthusiasts visit the show to check out the latest boat models and accessories. The show features more wake board boats, tournament ski boats, fishing boats, family runabouts and pontoon boats than any other event in Northern California. Exhibits range from boats 8 to 35 feet, houseboats up to 70 feet, and scores of accessories to enhance the thrill of the water sport and fishing lifestyle. 




Lee Rock Of The Stray Cats

HARRIS CENTER
March 8
PRICING: $24 and up

Lee Rocker and the Stray Cats sold more than 10 million records, garnered an astounding 23 gold and platinum records worldwide, were music video pioneers of the MTV generation and secured their place in the history of rock and roll. Since then, Rocker has been consistently touring, recording and performing around the globe. He is known for making his upright double bass appear as if it were a lightweight instrument as he spins, throws it in the air, catches and plays it on stages throughout the world.



Capitol Beer Fest

5th Street & Capitol
March 3
PRICING: $40

For the 8th Annual Capitol Beer Fest, we are more than a little excited to be BACK ON CAPITOL MALL! And, we've moved the event to a Saturday, allowing you the opportunity to enjoy our event and then the rest of your weekend. Expect the same high quality event you've come to know and love that includes four hours of 125+ of the nation's best brewers, 20 food trucks, and live music!





6th Annual Brazilian Carnival
at the Old Sugar Mill

Old Sugar Mill
March 3
PRICING: $22 and up

MARDI GRAS Beads for Everyone! (while supplies last)
Enjoy a spectacular evening that mixes the sounds, samba and feathers of Brazilian Carnaval and the carefree spirit of Mardi Gras. Entertainment includes Brazilian band SambaDa, Brazilian Dance Company featuring dancers and percussion, Fabiana Passoni (Bossa Nova), DJ R.D.M. playing music in the back patio, Costume Contest and more! 





Jurassic Quest

GOLDEN 1 CENTER
March 16-18
PRICING:  $18 and up. 

Jurassic Quest is Americas Largest and most realistic Dinosaur Event. Our guests will walk through the Cretaceous period, the Jurassic Period and The Triassic period and experience for themselves what it was like to be among living, breathing dinosaurs.




Audio Muse:
Mino Yanci +2Hermano

Crocker Art Museum
March 15
PRICING: $8

Audio Muse is the Crocker Art Museum's new monthly music series. Visualize the music as the region's best bands perform alongside digital, video, or new-media artists for multisensory concerts that rock! Indescribable, undefinable, transcending; it's a jazz-inspired night with Mino Yanci, which translates literally and figuratively into "musical freedom." The band proclaims: "You are welcome to define what our music is to you. But as for us, we just want to be free." 




Morris Day and The Time

Crest Theater
March 31
PRICING: $55 and up

In his new album, Day combines classic old school sounds with new music featuring hot new artists. He delivers energetic vocals and witty lyrics, complimented by his trademark smooth-as-silk dance moves, all wrapped up in flashy, dapper fashions!

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