1. Older Sales: I look at sales over the past 1-3 years in the immediate neighborhood. While it’s ideal to have model match sales within a 90-day time period, that’s rarely possible with more unique neighborhoods with tight market boundaries. It therefore becomes important to use older sales in an appraisal report and then make an adjustment to the sales price depending on whether the market has declined or appreciated in value over time. For example, I might use a sale that is twelve months old in a unique neighborhood and then give a 15% adjustment downward after figuring out the market has declined by 15%. Methodology like this becomes important for appraisals along the Sacramento River, more custom homes in Camden Passage West in Elk Grove, or even sometimes in areas like Curtis Park, Land Park or Midtown depending on the property. Of course if the appraisal is for lending purposes, the lender will likely want to see some newer sales in addition to older ones.
2. Competitive Neighborhoods: If there are no real comps over recent months in the immediate neighborhood, I find competitive neighborhoods for comparison and then use recent sales in those neighborhoods. It’s important to ask the question, “where else would a buyer for this neighborhood shop for a house?” and then look for comparable sales in those neighborhoods. These competitive tracts will likely be outside of a typical one-mile radius, which is okay. This can work well when appraising in places like Little Pocket or Country Club Estates where I might have to cross a freeway or major street to find adequate comparables (I try not to do that though where possible). However, some neighborhoods are very distinct, which makes it more challenging to really find a competitive neighborhood. Take the Woodlake neighborhood in Sacramento, for example. This neighborhood resembles Land Park, yet is located nearly five miles away and is surrounded on all sides by properties with signficantly lower values. There is really nothing comparable to Woodlake in the entire 95815 zip code, so sticking with historical sales to a certain degree seems more reliable to me than picking sales from 5-10 miles away. Even Gold River is a good example of a distinct community. When appraising in Gold River I do not ever use comps outside of Gold River because it really is its own community.
3. Current Listings: I talk with real estate agents who have current listings in the immediate neighborhood to see if I might glean some insight into how the market is seeing the neighborhood. While listings are not sales, they are able to tell us something about the market and are important for consideration.
4. Recent Withdrawn Listings: I run a search of recent withdrawn sales in the immediate neighborhood and then talk with the real estate agents involved. Why did the property not sell? That question usually gleans some insight into how buyers perceive the neighborhood.
5. Other: I talk with appraiser friends, real estate agents, create historical graphs, consider other metrics, rental value, and poke around online to see what I can find too.

I’d be curious to hear more from real estate agents, home owners and appraisers. Why do you think there might not be any comps for the appraiser to use? If you have any insight or a point to add to the discussion, feel free to comment below.

If you have any questions or Sacramento area real estate appraisal or property tax appeal needs, contact me by phone 916-595-3735, email, Facebook, Twitter or subscribe to posts by email.

There are actually three zip codes in Rancho Cordova (only two with houses really though). Let’s put the 95670 and 95742 zip codes in Rancho Cordova next to each other below and do a little comparison to see if we might get better data this way as opposed to just looking at the graph above. What do you see when viewing data in the 95670 zip code (not Gold River – only Rancho Cordova) in comparison to the 95742 zip code (Anatolia, Kavala Ranch, Sunridge)?

Rancho Cordova Real Estate Data (95670 Zip Code)
* 107 sales over the past 90 days
* 5.4 months of current housing supply listed on the market
* $146,000 median sales price over the past 90 days
* Average days on market: 64 days
* Number of active listings: 92
* Number of active short sale listings: 59
* Number of active short sale contingent listings: 43
* Number of pendings: 56
* 42% of all sales over the past year were REO (bank-owned)
* 26% of all sales over the past year were Short Sales
* Roughly 68% of all sales were distressed in some regard (REO or SS)
* Unemployment in Rancho Cordova is 14.4% per EDD (as of 12/2010)
* Unemployment in Sacramento County is 12.6% per EDD (as of 12/2010)

Rancho Cordova Real Estate Data (95742 Zip Code)
* 61 sales over the past 90 days
* 7.1 months of current housing supply listed on the market
* $231,000 median sales price over the past 90 days
* Average days on market: 86 days
* Number of active listings: 44
* Number of active short sale listings: 60
* Number of active short sale contingent listings: 41
* Number of pendings: 54
* 32% of all sales over the past year were REO (bank-owned)
* 29% of all sales over the past year were Short Sales
* Roughly 61% of all sales were distressed in some regard (REO or SS)
* Unemployment in Rancho Cordova is 14.4% per EDD (as of 12/2010)
* Unemployment in Sacramento County is 12.6% per EDD (as of 12/2010)

What stands out to you about the differences between 95670 and 95742? When we combine 95742 data into 95670 data to show all of Rancho Cordova, the entire median sales price level for Rancho Cordova increases, doesn’t it? Can you see why I think it’s important to look at these zip codes separately? Ah, we can make data say so many things if we’re not careful to really dissect it.

If you have any real estate appraisal, valuation consulting, or property tax appeal needs, contact me at 916.595.3735, www.LundquistCompany.com or via Facebook.

As you can see, when looking at all sales from 2006, property values have clearly declined over time. There is a very obvious downtrend, wouldn’t you say? Additionally, there is a wide value spectrum too, which represents a big difference in neighborhoods like White Rock, Lincoln Village, Walnutwood, La Loma, Stone Creek, Sunriver, and Anatolia.

Let’s take a closer look at the 95670 zip code in Rancho Cordova(not Gold River – that’s a different market). Sometimes sales in Gold River and Rancho Cordova are grouped together on graphs because they have the same zip code, but that’s not proper in my opinion. Regarding the 95742 zip code, we can take a look at data in a future post if you’d like (just let me know). Overall it looks like there has been a decline in sales prices over the past year, though not as steep of a decline as in previous years. The trend toward more stability is similar to Citrus Heights.

Now let’s put an age parameter on the data to see if there is any difference between properties built before and after 1990. As you can see when comparing the graph above with the one below, newer areas in the 95670 represent the highest sales in the zip code (this would be basically be the Stone Creek area and Capital Village).

Here is a spectrum of price per square foot for all sales in Rancho Cordova (95670) over the past year. Remember though, don’t just take your square footage and multiply it by the average price per square foot. That’s not always the best idea to determine the value of your house. See my previous post entitled “Is price per square foot an accurate way to measure the value of a house?”

Specific Rancho Cordova Real Estate Market Data (95670 zip code):

• 165 sales over the past 90 days.
• 89 current active listings
• 55 current active short sale listings
• 42 current short sale contingent listings (this means an offer has been submitted already)
• 39% of all sales over the past year were REO (bank-owned)
• 22% of all sales over the past year were Short Sales
• Roughly 61% of all sales were distressed in some regard (REO or SS)
• Unemployment in Rancho Cordova is 14.6% per EDD (as of 11/2010)
• Unemployment in Sacramento County is 12.8% per EDD (as of 11/2010)

By the way, here is a video from the Rancho Cordova Historical Society with over ten minutes of old photos and maps of Rancho Cordova.

If you’ve been looking for Rancho Cordova real estate information, I hope this was helpful for you. What do you see in the data above? Does anything stand out to you? Keep me posted if you have any questions or a need for a real estate appraisal or property consulting. I am a member of the Rancho Cordova Chamber of Commerce, and I do appraisal work for estate planning, probate, divorce, second opinions, FHA, property tax appeal, private loans, bankruptcy, and so much more. Call 916.595.3735, email me, or visit my company website.

The graph to the right was taken from the EDD website. It looks like California is not doing too well compared with the rest of the United States. When looking at the graph or the data below, what stands out to you? Does anything surprise you? In Sacramento County, Gold River has the lowest unemployment rate at 2.6% and Walnut Grove takes home the top rate at 30.5%. These two have actually been bookends on the unemployment rate spectrum for quite some time. Overall Sacramento County has an unemployment rate of 13.10% as of January 2010.

What strikes you about the information above? How do you think unemployment influences the real estate market?

What’s been happening the Rancho Murieta real estate market? Below are two graphs consisting of all single family detached sales and listings in Rancho Murieta per Sacramento area Metrolist. What do you see? Does anything stand out to you?

I’d be very curious to hear from home owners in Rancho Murieta about their community. What do you enjoy most about RM? What do you think your neighborhood has to offer to prospective buyers? How has Rancho Murieta fared during the housing bubble burst? What sort of impact do you think the foundation troubles in Rancho Murieta South has had on the RM market?

By the way, if you are looking for an image of houses in Rancho Murieta South that had foundation problems, email me at ryan@lundquistcompany.com and I’ll get that to you. An appraiser colleague in Folsom provided this image to me and it may prove informative for your needs.

What do you notice about the graph above? It looks like the upper end of the market above $550,000 has pretty much disappeared during 2009. It’s also evident that in the midst of a downward trend over the past several years that there have been few sales under $300,000. What else do you see? If you are a local Realtor or home owner in Gold River, what insight do you have into your market, and why is Gold River desirable to buyers in the marketplace (as a real estate appraiser, I love to hear people respond to questions like this)?

Gold River Real Estate Market Data:

• 251 sales over the past 3 years
• 62 sales over the past 12 months
• 13 sales over the past 90 days
• 11% of all sales over the past 12 months were REO (bank-owned)
• 3% of all sales over the past 12 months were Short Sales
• 29 current active listings
• 13 current active short sale listings
• 6 current pendings

The lower Western portion of the Gold River area is comprised of a subdivision called “Gold River Station”. Since Gold River Station is not a part of the Gold River HOA, it was prudent to look at data separately from Gold River. Sometimes outsiders to the area get confused about Gold River Station and therefore lump it in with Gold River, but it’s not a part of the Gold River neighborhood.

It’s not hard to see that there is a big value difference between Gold River and Gold River Station. Whereas there are few sales under $300,000 in Gold River, it appears that most recent sales in Gold River Station sold under $300,000. What else do you notice when comparing the graphs?

Feel free to contact me at 916-595-3735 or ryan@lundquistcompany.com if you have any questions about the local real estate market or any appraisal needs.

www.SacramentoAppraisalBlog.com Gold River Market Trends: Past 3 Years of Sales

As of September 2009, Sacramento County as a whole has an unemployment rate of 12.2% (August was 12.3%, July was 12.0%, June was 11.6% and May was 11.1%). What do you notice about the data below? Does anything stand out to you or surprise you?

Arden Arcade CDP  11.8% (August 11.9%, July 11.7%, June 11.4%, May 10.8%)

Carmichael CDP  9.0%, (August 9.1%, July 8.9%, June 8.7%, May was 8.2%)

Citrus Heights city  8.6% (August 8.6%, July 8.5%  June 8.3%, May 7.8%)

Elk Grove CDP  9.9% (August 10.0%, July 9.8%, June 9.6%, May 9.0%)

Fair Oaks CDP  6.8% (August 6.8%, July 6.7% , June 6.6%, May 6.2%)

Florin CDP  18.1% (August 18.2%, July 17.9  June 17.6%, May 16.7%)

Folsom city  5.6% (August 5.6%, July 5.5%, June 5.4%, May 5.1%)

Foothill Farms CDP  15.5% (August 15.6%, July 15.3%, June 15.0%, May 14.2%)

Galt city  18.3% (August 18.4%, July 18.1% , June 17.8%, May 16.9%)

Gold River CDP  2.1% (August 2.1%, July 2.0%, June 2.0%, May 1.9%)

Isleton city  13.0% (August 13.2%, July 12.9%, June 12.5%, May 11.8%)

La Riviera CDP  6.7% (August 6.7%, July 6.6%, June 6.5%, (May 6.1%)

Laguna CDP  6.3% (August 6.4%, July 6.2%, June 6.1%, May 5.8%)

Laguna West Lakeside CDP  8.2% (August 8.3%, July 8.1%, June 8.0%, May 7.5%)

North Highlands CDP  17.8% (August 18.0%, July 17.6%, June 17.3%, May 16.4%)

Orangevale CDP  8.7% (August 8.8%, July 8.6%, June 8.5%, May 8.0%)

Parkway South Sacramento CDP  20.2% (August 20.4%, July 20.0%, June 19.7%, May 18.7%)

Rancho Cordova City  13.9% (August 14.0%, July 13.8%, June 13.5%, May 12.8%)

Rancho Murieta CDP  3.8% (August 3.8%, July 3.7%, June 3.7%, May 3.5%)

Rio Linda CDP  17.7% (August 17.8%, July 17.5%, June 17.2%, May 16.3%)

Rosemont CDP  9.6% (August 9.7%, July 9.5%, June 9.3%, May 8.8%)

Sacramento city  14.2% (August 14.3%, July 14.1%, June 13.8%, May 13.1%)

Vineyard CDP  5.7% (August 5.7%, July 5.6%, June 5.5%, May 5.2%)

Walnut Grove CDP  26.5% (August 26.5%, July 26.2%, June 25.6%, May 24.5%)

Wilton CDP  7.5% (August 7.5%, July 7.4% , June 7.2%, May 6.8%)

Every single category above, whether city or CDP, either remained the same from August to September 2009 or saw a slight decrease in unemployment rate. There was no increase in unemployment rate in any area of Sacramento County from August to September 2009. If there was a prize for lowest unemployment rate in Sacramento County, Gold River would be the winner at 2.1%. On the other end of the spectrum, Walnut Grove has the highest unemployment rate in Sacramento County at 26.5%.

Let me know if you have any questions about the latest figures. You are welcome to call 916-595-3735 or email ryan@lundquistcompany.com.

www.SacramentoAppraisalBlog.com Comparing Five Months of Unemployment Rates in Sacramento County

As of August 2009, Sacramento County as a whole has an unemployment rate of 12.3% ( July was 12.0%, June was 11.6% and May was 11.1%). What do you notice about the data below? Does anything stand out to you or surprise you?

Arden Arcade CDP  11.9%  (July 11.7%, June 11.4%, May 10.8%)

Carmichael CDP  9.1%  ( July 8.9%, June 8.7%, May was 8.2%)

Citrus Heights city  8.6%  (July 8.5%  June 8.3%, May 7.8%)

Elk Grove CDP  10.0%  (July 9.8%, June 9.6%, May 9.0%)

Fair Oaks CDP  6.8%  (July 6.7% , June 6.6%, May 6.2%)

Florin CDP  18.2%  (July 17.9  June 17.6%, May 16.7%)

Folsom city  5.6%  (July 5.5%, June 5.4%, May 5.1%)

Foothill Farms CDP  15.6%  (July 15.3%, June 15.0%, May 14.2%)

Galt city  18.4%  (July 18.1% , June 17.8%, May 16.9%)

Gold River CDP  2.1%  (July 2.0%, June 2.0%, May 1.9%)

Isleton city  13.2%  (July 12.9%, June 12.5%, May 11.8%)

La Riviera CDP  6.7%  (July 6.6%, June 6.5%, (May 6.1%)

Laguna CDP  6.4%  (July 6.2%, June 6.1%, May 5.8%)

Laguna West Lakeside CDP  8.3%  (July 8.1%, June 8.0%, May 7.5%)

North Highlands CDP  18.0%  (July 17.6%, June 17.3%, May 16.4%)

Orangevale CDP  8.8%  (July 8.6%, June 8.5%, May 8.0%)

Parkway South Sacramento CDP  20.4%  (July 20.0%, June 19.7%, May 18.7%)

Rancho Cordova City  14.0%  (July 13.8%, June 13.5%, May 12.8%)

Rancho Murieta CDP  3.8%  (July 3.7%, June 3.7%, May 3.5%)

Rio Linda CDP  17.8%  (July 17.5%, June 17.2%, May 16.3%)

Rosemont CDP  9.7%  (July 9.5%, June 9.3%, May 8.8%)

Sacramento city  14.3%  (July 14.1%, June 13.8%, May 13.1%)

Vineyard CDP  5.7%  (July 5.6%, June 5.5%, May 5.2%)

Walnut Grove CDP  26.5%  (July 26.2%, June 25.6%, May 24.5%)

Wilton CDP  7.5%  (July 7.4% , June 7.2%, May 6.8%)

Every single category above, whether city or CDP, saw an increase in unemployment from July 2009 to August 2009. If there was a prize for lowest unemployment rate in Sacramento County, Gold River would be the winner at 2.1%. On the other end of the spectrum, Walnut Grove has the highest unemployment rate in Sacramento County at 26.5%.

Let me know if you have any questions about the latest figures. You are welcome to call 916-595-3735 or visit our company website at www.lundquistcompany.com

www.SacramentoAppraisalBlog.com Comparing Four Months of Unemployment Rates in Sacramento County: May-August 2009

As of July 2009, Sacramento County as a whole has an unemployment rate of 12.0% ( June was 11.6% and May 2009 was 11.1%). The State of California has an 11.9% unemployment rate (up from 11.6% in May & June 2009). I also posted data for Placer County HERE in case that is of interest to you.

What do you notice about the data below? Does anything stand out to you or surprise you?

Arden Arcade CDP  11.7%  (June 2009 11.4%)  (May 2009 was 10.8%)

Carmichael CDP  8.9%  (June 2009 8.7%)  ( May 2009 was 8.2%)

Citrus Heights city  8.5%  (June 2009 8.3%)  ( May 2009 was 7.8%)

Elk Grove CDP  9.8%  (June 2009 9.6%)  (May 2009 was 9.0%)

Fair Oaks CDP  6.7%  (June 2009 6.6%)  (May 2009 was 6.2%)

Florin CDP  17.9  (June 2009 17.6%)  (May 2009 was 16.7%)

Folsom city  5.5%  (June 2009 5.4%)  (May 2009 was 5.1%)

Foothill Farms CDP  15.3%  (June 2009 15.0%)  (May 2009 was 14.2%)

Galt city  18.1%  (June 2009 17.8%)  (May 2009 was 16.9%)

Gold River CDP  2.0%  (June 2009 2.0%)  (May 2009 was 1.9%)

Isleton city  12.9%  (June 2009 12.5%)  (May 2009 was 11.8%)

La Riviera CDP  6.6%  (June 2009 6.5%)  (May 2009 was 6.1%)

Laguna CDP  6.2%  (June 2009 6.1%)  (May 2009 was 5.8%)

Laguna West Lakeside CDP  8.1%  (June 2009 8.0%)  (May 2009 was 7.5%)

North Highlands CDP  17.6%  (June 2009 17.3%)  (May 2009 was 16.4%)

Orangevale CDP  8.6%  (June 2009 8.5%)  (May 2009 was 8.0%)

Parkway South Sacramento CDP  20.0%  (June 2009 19.7%)  (May 2009 was 18.7%)

Rancho Cordova City  13.8%  (June 2009 13.5%)  (May 2009 was 12.8%)

Rancho Murieta CDP  3.7%  (June 2009 3.7%)  (May 2009 was 3.5%)

Rio Linda CDP  17.5%  (June 2009 17.2%)  (May 2009 was 16.3%)

Rosemont CDP  9.5%  (June 2009 9.3%)  (May 2009 was 8.8%)

Sacramento city  14.1%  (June 2009 13.8%)  (May 2009 was 13.1%)

Vineyard CDP  5.6%  (June 2009 5.5%)  (May 2009 was 5.2%)

Walnut Grove CDP  26.2%  (June 2009 25.6%)  (May 2009 was 24.5%)

Wilton CDP  7.4%  (June 2009 7.2%)  (May 2009 was 6.8%)

As you can see, the only city or CDP (Census Designated Place) above that was without an increase in overall unemployment numbers from June to July 2009 was Gold River. If there was a prize for lowest unemployment rate in Sacramento County, Gold River would be the winner at 2.0%. On the other end of the spectrum, Walnut Grove has the highest unemployment rate in Sacramento County at 26.2%.

Let me know if you have any questions about the latest figures and how unemployment impacts the local real estate market. You are welcome to call 916-595-3735 or visit our company website at www.lundquistcompany.com

www.SacramentoAppraisalBlog.com Unemployment Rates in Sacramento County Over the Past Three Months: May, June & July 2009

What do you think of the horse? It’s gleaming and it’s not hard to miss, is it? Do you like it? Do you hate it? Does it add to the appeal of the retail center? Do you think it fits in with the neighborhood? Comment above if you’d like.

This horse has been dubbed by my three year old boy as “Silver” (sounds appropriate I suppose). It is certainly a landmark for the intersection now because passersby will be drawn to look at it. For reference, Wikipedia says the following of the word “landmark”: In modern usage, a landmark includes anything that is easily recognizable, such as a monument, building, or other structure. 

On another note, this store is located in Sacramento, but the Rite Aid website currently says “Carmichael“. Why do you think  Rite Aid has listed their store location as Carmichael? Is this similar to the 24 Hour Fitness in Rancho Cordova on Sunrise Blvd (West side of street = clearly in Rancho Cordova) saying they are located in “Gold River” when they are certainly located in Rancho Cordova?

www.SacramentoAppraisalBlog.com A Silver Horse: An Instant Landmark in Sacramento (95821 Zip Code)

As of June 2009, Sacramento County as a whole has an unemployment rate of 11.8% ( May 2009 was 11.1%). The State of California has an 11.6% unemployment rate (unchanged from May 2009).

What do you notice about the data below? Does anything stand out to you or surprise you?

Arden Arcade CDP  11.4%  (May 2009 was 10.8%)

Carmichael CDP  8.7%  ( May 2009 was 8.2%)

Citrus Heights city  8.3%  ( May 2009 was 7.8%)

Elk Grove CDP  9.6%  (May 2009 was 9.0%)

Fair Oaks CDP  6.6%  (May 2009 was 6.2%)

Florin CDP  17.6%  (May 2009 was 16.7%)

Folsom city  5.4%  (May 2009 was 5.1%)

Foothill Farms CDP  15.0%  (May 2009 was 14.2%)

Galt city  17.8%  (May 2009 was 16.9%)

Gold River CDP  2.0%  (May 2009 was 1.9%)

Isleton city  12.5%  (May 2009 was 11.8%)

La Riviera CDP  6.5%  (May 2009 was 6.1%)

Laguna CDP  6.1%  (May 2009 was 5.8%)

Laguna West Lakeside CDP  8.0%  (May 2009 was 7.5%)

North Highlands CDP  17.3%  (May 2009 was 16.4%)

Orangevale CDP  8.5%  (May 2009 was 8.0%)

Parkway South Sacramento CDP  19.7%  (May 2009 was 18.7%)

Rancho Cordova City  13.5%  (May 2009 was 12.8%)

Rancho Murieta CDP  3.7%  (May 2009 was 3.5%)

Rio Linda CDP  17.2%  (May 2009 was 16.3%)

Rosemont CDP  9.3%  (May 2009 was 8.8%)

Sacramento city  13.8%  (May 2009 was 13.1%)

Vineyard CDP  5.5%  (May 2009 was 5.2%)

Walnut Grove CDP  25.6%  (May 2009 was 24.5%)

Wilton CDP  7.2%  (May 2009 was 6.8%)

As you can see, there was not one city or CDP (Census Designated Place) that was without an increase in overall unemployment numbers from May to June 2009. If there was a prize for lowest unemployment rate in Sacramento County, Gold River would be the winner at 2.0%. On the other end of the spectrum, Walnut Grove has the highest unemployment rate in Sacramento County at 25.6% (Can you believe that? 1 in 4 working people are without a job).

Let me know if you have any questions about the latest figures and how unemployment impacts the local real estate market. You are welcome to call 916-595-3735 or visit our company website at www.lundquistcompany.com

www.SacramentoAppraisalBlog.com Unemployment Rates in Sacramento County for June 2009

Search:  “Anatolia Rancho Cordova Vacant Lots”

There are indeed vacant lots in Anatolia. Like many construction sites, local builders in the Sacramento Region have halted future building until the market rebounds. There are still patches of new construction though in pockets of the Greater Sacramento Region, but the pace of construction is very slow compared to the rapid building five years ago. I happened to snap a shot of a vacant site in Anatolia last week while in the field and I’ll share it here. How convenient!!! I am glad to connect you with a local Broker or Agent if you are interested in purchasing a lot or group of lots.

Search:  “How to obtain appraised value of property”

That’s a good question and the answer depends upon what type of property you are considering. Are you talking about personal property or real estate? I don’t handle personal property (though the Antiques Road Show is fun), but if you are interested in obtaining a valuation for your real estate, give me a call at 916-595-3735. You can also order online if that is convenient for you.

Search:  “How does unemployment affect the economy”

I track unemployment trends on a regular basis. Firstly, I would recommend for you to take a look at the Employment Develompent Department website to gain a sense of some of the most recent data. This comes in very handy if you are looking for information on a particular city in Sacramento County (or Solano, Placer, Yolo…) or even a Census-Designated Place like Gold River or Foothill Farms.

I am not an economist, but there is a basic principle at work here. If more people are losing their jobs, there will be more people not able to afford to purchase products in the marketplace (or afford their mortgage payments eventually). The natural progression of an increasing unemployment rate logically concludes in a more distressed marketplace with less revenue for businesses and a very likely increase in foreclosure properties unless there is some sort of legislation, government interference or act of God.

Search:  “Independence at Mather”

I won’t re-hash an entire description on the Mather subdivision referred to as “Independence at Mather” because previous blog posts will do the trick for you very well. In case any veterans who were stationed once at Mather Air Base would like to see what their former barracks now look like, take a glimpse at the images below. It’s a long way from what it used to be, huh? Veterans, thank you for your service to our country.

Well, that was sort of a shotgun approach to giving insight on a few search engine inquiries. Please let me know if you have any further questions. I am always willing to help when I can.

www.SacramentoAppraisalBlog.com Answers from Search Engine Inquiries Yesterday

Arden Arcade CDP  10.8%

Carmichael CDP  8.2%

Citrus Heights city  7.8%

Elk Grove CDP  9.0%

Fair Oaks CDP  6.2%

Florin CDP  16.7%

Folsom city  5.1%

Foothill Farms CDP  14.2%

Galt city  16.9%

Gold River CDP  1.9%

Isleton city  11.8%

La Riviera CDP  6.1%

Laguna CDP  5.8%

Laguna West Lakeside CDP  7.5%

North Highlands CDP  16.4%

Orangevale CDP  8.0%

Parkway South Sacramento CDP  18.7%

Rancho Cordova City  12.8%

Rancho Murieta CDP  3.5%

Rio Linda CDP  16.3%

Rosemont CDP  8.8%

Sacramento city  13.1%

Vineyard CDP  5.2%

Walnut Grove CDP  24.5%

Wilton CDP  6.8% 

What do you notice? Does any of the data stand out to you? Let me know if you have any questions about the latest figures and how unemployment impacts the local real estate market. You are welcome to call 916-595-3735 or visit our company website at www.lundquistcompany.com

Unemployment Rates are based upon information provided from the Employment Development Department from February 2009.

State of California      10.1%     

State of California One Year Ago   6.2%

Sacramento County    10.7%

Arden Arcade CDP      10.4%

Carmichael CDP          7.9%

Citrus Heights city      7.5%

Elk Grove CDP            8.7%

Fair Oaks CDP            5.9%

Florin CDP                 16.0%

Folsom city               4.8%

Foothill Farms CDP      13.7%

Galt city                   16.2%

Gold River CDP           1.8%

Isleton city               11.5%

La Riviera CDP            5.8%

Laguna CDP               5.5%

Laguna West Lakeside CDP   7.2%

North Highlands CDP    15.8%

Orangevale CDP          7.6%

Parkway South Sacramento CDP   18.0%

Rancho Cordova City   12.3%

Rancho Murieta CDP    3.3%

Rio Linda CDP             15.7%

Rosemont CDP            8.4%

Sacramento city         12.5%

Vineyard CDP             4.9%

Walnut Grove CDP       23.6%

Wilton CDP                 6.5%

For further reference and to look up unemployment information and rates on any county or city in California, see the following links:

• EDD State of California Stats
• EDD California County Stats
• EDD California City & CDP Stats

If you have any questions about the data above or any other appraisal-related issues or thoughts, contact me at 916-595-3735 or www.lundquistcompany.com

The graph below analyzes the entire 95670 zip code and contains Gold River area sales in blue and Rancho Cordova sales in red (not 95742 zip code – “Anatolia” neighborhood of Rancho Cordova).  

“Gold River HOA” excluding “Gold River Station” – 95670:
- 74 sales in past 12 months
- 12% of sales were bank owned
- 2.5% were short sales
- Low Sale: $235,000
- High Sale: $650,000
- Overall Median Price for Past 12 Months: $414,000

Rancho Cordova – 95670:
- 458 sales in past 12 months
- 64% of sales were bank-owned
- 12% of sales were short sales
- Low Sale: $71,150
- High Sale: $580,000
- Overall Median Price for Past 12 Months: $190,000

“Gold River Station” in Gold River – 95670:
- 17 sales in past 12 months
- 41% of sales were bank owned
- 1 short sale
- Low Sale: $263,000
- High Sale: $340,000
- Overall Median Price for Past 12 Months: $315,000

The data above is from mid-February 2009 and is based upon Sacramento Area MLS through a search of SFR properties. It is interesting to see a much higher foreclosure rate in the city of Rancho Cordova in the 95670 zip code in comparison to the Gold River community.

Lundquist Appraisal Company is based out of Rancho Cordova and knows the local area very well. We do also appraise properties within ten counties surrounding the Sacramento area. See www.lundquistcompany.com or www.ranchocordovaappraiser.com for more information.

NOTE: The lower Western portion of the Gold River area is comprised of an area called “Gold River Station”. Since Gold River Station is not a part of the Gold River HOA, it was prudent to look at data separately from Gold River.