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Archive for the 'El Dorado County' Category


El Dorado County Real Estate Market Update

Posted by John Lockwood on 14th July 2008

As we reported in June, compared to our neighbors in Placer County and Sacramento County, El Dorado County has been experiencing more moderate drops in prices each year, with relatively fewer foreclosures.    Thus, while the average sold price per square foot fell Sacramento County fell 33.4% from June to June in Sacramento County, and 23.5% in Placer County, the decline during the same time in El Dorado County was 16.8%.

In June of 2008, the average home sold for $462,500 in El Dorado County, down 15.1% from June of 2007’s average sale price of $544,786. 

Foreclosures and REOs made up 43.4% of the total sales volume in June in El Dorado County (compare that figure to 53.3% in Placer County and 75.1% in Sacramento County).  Of course, though this number compares favorably to neighboring counties, it is still quite high when you compare it to the same time last year, when short sales and foreclosures made up only 8% of all sales in the county.

As time gone on, the deeper discounts in Placer and Sacramento County — probably combined with rising gas prices — have had the effect of making these nearby areas much more attractive, as the gap in prices has widened.  In June of 2007, El Dorado County homes were selling for only 6.8% more per square foot than Sacramento County homes.  By June of 2008, that gap in sold price per square foot had risen to 33.5%, with the average home in El Dorado County selling for $194.55 per square foot versus Sacramento County’s $145.77 per square foot.

Unfortunately, the widening gap between what you can buy in Placer and Sacramento Counties on the one hand and El Dorado County on the other has not done much to help turn around El Dorado County’s unit sales — and indeed, this year we sold 3.4% fewer homes in El Dorado County than last year, and we currently have over 12 months of unsold inventory.  Sacramento County, conversely, has been enjoying a unit volume renaissance, with 86.2% more homes sold this year than last year.

The statistics for El Dorado County are below.

Unit Volume Data

Units Sold June, 2007 June, 2008 Change
Foreclosures Sold 8 61 662.5%
(% of total units) 4.6% 36.3%  
Short Sales Sold 6 12 100.0%
(% of total units) 3.4% 7.1%  
Non-distressed Sold 160 95 -40.6%
(% of total units) 92.0% 56.5%  
Total 174 168 -3.4%

Price Data

Prices June, 2007 June, 2008 Change
Sold Price / Square Foot $233.88 $194.55 -16.8%
Average List Price $566,637 $483,173 -14.7%
Average Sale Price $544,786 $462,500 -15.1%

Inventory (Based on 12 months of prior sales)

Sale Type Average Sales Per Month Active Months of Inventory
All Sales 126 1626 12.8
Foreclosures 29 156 5.4
Short Sales 6 215 31.9
Nondistressed 87 1258 14.3

Inventory (Based on 6 months of prior sales)

Sale Type Average Sales Per Month Active Months of Inventory
All Sales 121 1626 13.3
Foreclosures 39 156 3.9
Short Sales 9 215 22.2
Nondistressed 72 1258 17.3

El Dorado County Real Estate Market Update

Posted by John Lockwood on 11th June 2008

Over on my Sacramento Blog, I’ve been discussing how Sacramento County real estate sales are starting to heat up in a big way, fueled by high foreclosure rates and huge year-on-year price reductions.  I believe that we’ll see prices start to improve in Sacramento County as early as next year, as fewer option ARM resets hit the books (though depending on how you slice and dice those numbers, that may be an overly optimistic assessment). 

In El Dorado County, the story is a different one in several respects:

  • The overall cost of homes is higher.
  • There are fewer foreclosures and short sales available, though still many more in this market than in previous years.
  • The Year on Year price reductions have been large enough to hurt, but still not as dramatic as Sacramento County.
  • Because of the factors above, fewer first time buyers are entering the market and competing for homes.

The upshot is that while Sacramento County’s unit volume has soared 64.2% from May to May, in El Dorado County unit volume went down slightly, from 151 units in May of 2007 to 146 units in May of 2006.

This May’s average home sold for $429,434 in El Dorado County, down 20.3% from last May’s average of $538,590.  The median price has fallen 20% during the same period, from $488,000 to $390,500.  Sold price per square foot dropped 21.4%, from $242.61 in May of 2007 to $190.77 in May of 2008.

This year short sales and bank foreclosures made up 35.6% of the total sales, compared to 13.2% last year.  Short sales accounted for 7.5% of the total, and REOs made up 28.1%.  There are currently 12.4 months of inventory in El Dorado County.  The expired to sold ratio is up slightly this year — at 54.1% compared to 48% last year.  The average discount from list price for a sold home was 3.6%, compared to 4% last year.

2701 Sandhurst Drive, Cameron Park, CA

Posted by John Lockwood on 5th June 2008

Vicki Agregado-Babcock just listed this beautiful home in her own neighborhood of Deertrail Estates. I had the pleasure of touring this home and taking pictures earlier this week, and this is one of the best we’ve seen in some time.

2701 Sandhurst Drive, Cameron Park, CA

Main Photo

Location: Deertrail Estates

Wanted: bright, open floor plan. Competitively priced, yet not a short sale or foreclosure. Immaculately remodeled within the last few years. A big, shady, corner lot with a big back yard. All this in a fantastic location with great schools. Stop looking, we found it for you, and it would be an honor to show it to you. Or call your agent and get her to show you this before it’s gone.

Information
Contact Information
Logo

My Pic Association Logo

Vicki Agregado-Babcock
(530) 409-1100

Pricing
Asking Price: $399,900.00

Property Location
2701 Sandhurst Drive
Cameron Park, CA 95682
View Map

Features
Bedrooms: 3
Bathrooms: 2
Parking: Ample
Year Built: 1987
Subdivision: Deertrail Estates
Lot Size: .253
Garage Size: 2 car
School District: Rescue Union / El Dorado Union
Square Footage: 1640
Agent Name: Vicki Agregado-Babcock
Broker: Elite Properties
MLS #: 80055485

Attributes
Appliances
Range/Oven
Dishwasher
Sink Disposal
Microwave

Interior Amenities
Security System

Exterior Amenities
Fenced Yard
Trek deck

Photo Gallery

Open House Sunday in Cameron Park

Posted by John Lockwood on 15th May 2008

Vicki Agregado-Babcock is holding her beautiful listing at 3262 Sandhurst Court open on Sunday, May 18th, from 1PM to 4PM

Come check out this lovely home — I got a chance to preview it this past week and it’s definitely a keeper!

For more information about this lovely home, check out the following links:


Location Information
County: El Dorado MLS Area: 12601
Cross Street: Sandhurst Census Tract: 0
Location: Cul-De-Sac, Snow Line Below Subdivision: Deer Trail Estates
Directions: Hwy 50, North on Cambridge Rd. go aprox. 2 miles. Turn left left on Sandhurst Dr.(across from entrance to Cameron Park Lake. Left on Sanhurst Ct to end. Map: Thomas Bros. (PL, SA), 263 C-4


Interior Features
Master Bedroom Description: Closet, Ground Floor Master Bathroom Description: Closet, Remodeled/Updated, Shower Stall(s)
Other Bathrooms Description: Tub w/Shower Over Dining Room Description: Breakfast Nook, Dining/Living Combo
Kitchen Description: Counter Granite, Kitchen/Family Combo, Pantry Closet, Remodeled/Updated Has Fireplace: No
Number of Fireplaces: 0 Heating: Central, Propane, Other-Attch
Cooling: Central Floors: Carpet, Tile, Wood
Laundry: 220 Volt Hook-Up, Cabinets, Inside Room Additional Equipment: Cable TV Installed, DSL Possible, Window Furnishings
Appliances: Dishwasher, Disposal, Ice Maker Plumbed, Microwave B/I, Oven Elec F/S


Exterior Features
Style: Ranch Stories: 1 Story
Construction: Frame, Wood Builder: Peterson
Exterior: Wood Foundation: Raised
Roof: Comp Shingle Water / Sewer: In & Connected
Water: Public District Utilities: 220 Volts, All Public, Propane, Underground
Security System: Smoke Detector Parking Description: 2 Car Attached
Has Garage: Yes Landscaping: Sprinkler Auto F&R, Sprinkler Auto Rear
Has a Pool: No Is Short Sale: No
Is a Horse Property: No Exposure Faces: North
Topography: Lot Grade Varies, Lot Sloped, View Local, View Special Elevation: 1300
Lot Size in Acres: 0.23 Lot Size in Sq. Ft.: 10019
Dimensions: 0 Zoning: res
Energy Features: Ceiling Fan(s), Dual Pane Full, Skylight Improvements: None
Road Description: Paved, Public Maintained Space Rent: 0


School
Elementary School: Rescue Union Jr. High School: Rescue Union
High School: El Dorado Union High


Additional Information
Property Type: SFR Property SubType: 1 House on Lot
Property SubType 2: Detached, Remodeled/Updated Year Built: 1988
APN: 116-482-08-10 Status: Active
Other Structures: Tool Shed HOA Dues: 0

Pollock Pines Real Estate

Posted by John Lockwood on 29th April 2008

Like most local areas, the real estate prices in Pollock Pines declined sharply over the last year. The average home sold in first quarter of 2008 for $255,519, down 32.1% from last year’s average of $376,310.  Part of this decline in price was simply a result of this year’s average home being 12.4% smaller than last year’s.  Still, in the first quarter of 2008, the average home sold for approximately 22.5% less on a sold price per square foot basis than in the first quarter of 2007.  The median sale price fell 25.8% during this time, from $325,000 in first quarter of 2007 to $241,000 in the first quarter of 2008.

Pollock Pines sales a traditionally sluggish in the first quarter, since this is the time this area is still seeing some snowfall.  An average of 12 units per month have sold over the course of the last year, with only twenty-six selling in the first quarter (8 2/3 per month).  However, this year’s unit volume compares favorably to the same time last year, when twenty-four homes sold in the first quarter.

Interestingly, in both the first quarter of 2007 as well as first quarter of 2008, the expired to sold ratio was 100% — i.e., as many listings expired and sold in both periods.

At present, some 12.3% of the homes in active inventory are bank foreclosures, and 10.8% are short sales.  In the first quarter of 2008, 46.2% of homes that sold were bank foreclosures, and 15.4% of the sales were short sales.

El Dorado Hills Real Estate Market

Posted by John Lockwood on 21st April 2008

The real estate market in El Dorado Hills is behaving like a typical "luxury" market in the Greater Sacramento area this year.  That is to say, compared to nearby areas:

  • It lost some of its value, but less than in other areas.
  • It has a lower overall percentage of distressed sales, though more than last year.
  • Although prices are not off by that much compared to other areas, unit volume is down dramatically.

Let’s look at some specifics.

In the first quarter of 2008, the average home sold in El Dorado Hills for $592,958, down 11.3% from last year’s average price of $668,752.  The average for sold price per square foot fell 11.8%, from $230.92 in 2007 to $214.72 in 2008.  At $499,500, this year’s median price was down 18.4% from last year’s median sale price of $612,500.

Distressed sales make up 24% of active inventory, and 38.6% of sales in the first quarter. 8.3% of the 408 currently available homes in El Dorado County are bank foreclosures, a category that accounted for 28.4% of sales in the first quarter.  Short sales make up 15.7% of active inventory, and accounted for 10.2% of the sales in the first quarter.

Placerville Real Estate Market

Posted by John Lockwood on 9th April 2008

This year the most outstanding feature of the Placerville market is the extent to which things simply aren’t moving compared to last year.  Unit volume is down by more than half.  In the first quarter of 2007, 66 units sold in what we can call "greater Placerville" (i.e., the 95667 zip code, which is quite a bit larger than the city limits).

The average home sold in Placerville in the first quarter for $413,636, 4.3% more than last year’s average of $396,453.  This year saw a bigger crop of homes selling, however, with the net result that sold price per square foot is down 17.2% from last year.  This year’s median price of $355,000 is down 5.8% from last year’s median of $377,000.

As in most areas in El Dorado County, foreclosures played less of a role than they do in Sacramento County.  Four of the 29 homes that sold in the first quarter were short sales, and four were foreclosures, so the percentages in each case were 13.8%.

A corollary of the slow sales in the first quarter was that a number of listings expired.  As a result, the expired to sold ratio changed very dramatically from year to year, from 30.3% in 2007 to 169% in 2008.  As you might also expect, inventory is high at 12.1 months.

Homebrewers at Downtown Placerville Tonight!

Posted by John Lockwood on 8th November 2007

Those of you that are homebrewers (called Zymurgy, go figure!) should consider coming to the HAZE club meeting at the Wine Smith in downtown Placerville tonight at 7 p.m.

HAZE stands for Hangtown Association of Zymurgy Enthusiasts and although zymurgy covers fermentation of wine as well as beer, this is a beer maker’s meeting.

This will be my first meeting. I’m going along with my husband who is one of those zymurgists. You can visit the HAZE club website here. Apparently, they taste (TASTE, not drink) homebrews and discuss recipes and share secrets to make better beer.

Aren’t you Glad you don’t Live in Placer County?

Posted by John Lockwood on 6th November 2007

I rarely have trouble taking sides with most issues, but today’s article in the Sacramento Bee about homeowners upset with Placer County’s budding wineries for ruining their country living peace and quiet is just difficult for me. There is no greater proponent than me for your ability to enjoy your home in peace and not have to listen to loud music around you when you come home, but I must say I am happy to live close to wineries here in El Dorado and Amador Counties.

This story explains it all.

I’m curious, especially from a marketing point of view as a Realtor. Does “winery minutes away” not count as a positive statement then?

And if you’re a wine enthusiast don’t expect prices on wine from these parts (El Dorado, Amador, and now Placer) drop any time soon. Not with this kind of resistance.

Beautiful Placerville Home - Price Reduced to $349,900

Posted by John Lockwood on 5th November 2007

Beautiful Four Bedroom Home With Pool on Acreage

Location: Pleasant Valley

This is a beautiful home on picturesque acreage. Plenty of room for a growing family or for vacation home with 1950 square feet and four bedrooms. Back yard features pool, a seasonal creek, and a large deck, with low maintenance landscaping and the smell of pines. Open floor plan with bright and lovely kitchen and a pantry. Plenty of parking and room for a boat or RV, etc. Large master bedroom with walk-in closet. Minutes from downtown and highway 50. Must see inside to appreciate.
Information
Contact Information
John Lockwood
(530) 672-9160
Pricing
Asking Price: $349,900.00
Property Location
3400 Fort Jim Road
Placerville, CA 95667
View Map
Links
Features
Bedrooms: 4
Bathrooms: 2
Parking: Ample
Year Built: 1999
Lot Size: 3.856
Garage Size: None
School District: Placerville Union
Square Footage: 1950
Agent Name: John Lockwood
Broker: Elite Properties
MLS #: 70087796
Attributes
Appliances
Range/Oven
Dishwasher
Sink Disposal
Satellite
Interior Amenities
Kitchen Island
Wood Stove
Pantry
Exterior Amenities
Swimming Pool
Secluded setting
Large Front and Rear Decks
Low Maintenance Landscaping
Photo Gallery