FOLSOM: The $450,000 and under market continues to see multiple offers and very low inventory. Desperation is creating a market where some buyers are unfortunately starting to waive many of their protective contingencies in order to be the winning bidder on these homes.
The short sales have skewed our MLS stats due to the fact that there are two kinds of statuses for short sales in our MLS; the active short sale and the active short sale contingent (Indicating the seller has accepted an offer and is working with their lender for approval of the short sale. These homes are not truly available & are not being shown). Our current available inventory for Folsom is 191 homes which include the "contingent short sales" because they continue to show in the "active" status of the MLS. But if you remove the "contingent" status, there are really only 71 homes currently active on the market in Folsom, and that's less than a one month supply of homes at the current absorption rate.
Housing Stat for May 2012*
Properties for Sale w/o Active Short Sale Contingent Status: 71 Price: $89,000 - $1,100,000
All Properties Showing Active in the MLS 191 $89,000 - $1,100,000
Properties Sold in April 92 $75,000 - $734,000
Properties Sold in May 92 $95,000 - $580,000
Current Pending Properties 154 $116,900 - $1,090,000
May Sold Homes by number of units in each price bracket:
$100,000's - 15 $200,000's - 25 $300,00's - 32
$400,000's - 7 $500,00's - 3 $600,00's - 0
$700,000's - 0 $800,000's - 0 $900,000 + - 0
AMERICAN RIVER CANYON NORTH: The active inventory is extremely low as two sellers have recently taken their homes off of the market and five homes went pending in May. Buyer traffic has been sporadic despite interest rates at their lowest levels since the 1940's. There are currently no bank or investor owned properties in ARC North.
CLICK HERE for May 2012 Market Data
Current ARC North Stats for May 2012*: 7 Active Listings, 1 Short Sale, 3 Short Sale Contingent, 7 Pending, 1 Sold/Closed in 5/1/12
Changes to the ARC North Market since 5/1/12:
New Listings
319 ARC Dr $549,000 4-5 bed / 3 bath 3,523 sf Year Blt 2004
164 Lost Creek $597,000 4 bed / 3 bath 2,893 sf Year Blt 1989
171 ARC Dr $475,000 4 bed / 3.5 bath 3,828 sf Year Blt 1989 Short Sale
New Pending Sales
101 Mule Creek Ct $509,900 3 bed / 3 bath 2,861 sf Year Blt 1989
258 Cascade Falls $529,900 4 bed / 3.5 bath 3,665 sf Year Blt 1991 Bank owned
134 Feather Falls $539,000 4 bed / 3 bath 2,890 sf Year Blt 1996
257 Cascade Falls $575,000 4 bed / 5.5 bath 4,650 sf Year Blt 1992
130 ARC Dr $698,000 5 bed / 3.5 bath 3,716 sf Year Blt 1990
154 Red Ridge Ct $899,000 4 bed / 3.5 bath 4,582 sf Year Blt 2002 Short Sale
New Sold/Closed with Sales Price
150 ARC Dr $472,520 4 bed / 3 bath 3,292 sf Year Blt 1989
Robin's Marketing Minute - 2012/2013 Property Tax Appeals
If you disagree with the assessed value shown on the tax bill you will be receiving for your residential property tax year 2012/2013, you have the right to file for an informal review by the Assessor during their filing period of July 2nd through November 30th.
Appeal form & instructions: Assessment Appeals
Visit My Website
*Source: Metrolist MLS
The short sales have skewed our MLS stats due to the fact that there are two kinds of statuses for short sales in our MLS; the active short sale and the active short sale contingent (Indicating the seller has accepted an offer and is working with their lender for approval of the short sale. These homes are not truly available & are not being shown). Our current available inventory for Folsom is 191 homes which include the "contingent short sales" because they continue to show in the "active" status of the MLS. But if you remove the "contingent" status, there are really only 71 homes currently active on the market in Folsom, and that's less than a one month supply of homes at the current absorption rate.
Housing Stat for May 2012*
Properties for Sale w/o Active Short Sale Contingent Status: 71 Price: $89,000 - $1,100,000
All Properties Showing Active in the MLS 191 $89,000 - $1,100,000
Properties Sold in April 92 $75,000 - $734,000
Properties Sold in May 92 $95,000 - $580,000
Current Pending Properties 154 $116,900 - $1,090,000
May Sold Homes by number of units in each price bracket:
$100,000's - 15 $200,000's - 25 $300,00's - 32
$400,000's - 7 $500,00's - 3 $600,00's - 0
$700,000's - 0 $800,000's - 0 $900,000 + - 0
AMERICAN RIVER CANYON NORTH: The active inventory is extremely low as two sellers have recently taken their homes off of the market and five homes went pending in May. Buyer traffic has been sporadic despite interest rates at their lowest levels since the 1940's. There are currently no bank or investor owned properties in ARC North.
CLICK HERE for May 2012 Market Data
Current ARC North Stats for May 2012*: 7 Active Listings, 1 Short Sale, 3 Short Sale Contingent, 7 Pending, 1 Sold/Closed in 5/1/12
Changes to the ARC North Market since 5/1/12:
New Listings
319 ARC Dr $549,000 4-5 bed / 3 bath 3,523 sf Year Blt 2004
164 Lost Creek $597,000 4 bed / 3 bath 2,893 sf Year Blt 1989
171 ARC Dr $475,000 4 bed / 3.5 bath 3,828 sf Year Blt 1989 Short Sale
New Pending Sales
101 Mule Creek Ct $509,900 3 bed / 3 bath 2,861 sf Year Blt 1989
258 Cascade Falls $529,900 4 bed / 3.5 bath 3,665 sf Year Blt 1991 Bank owned
134 Feather Falls $539,000 4 bed / 3 bath 2,890 sf Year Blt 1996
257 Cascade Falls $575,000 4 bed / 5.5 bath 4,650 sf Year Blt 1992
130 ARC Dr $698,000 5 bed / 3.5 bath 3,716 sf Year Blt 1990
154 Red Ridge Ct $899,000 4 bed / 3.5 bath 4,582 sf Year Blt 2002 Short Sale
New Sold/Closed with Sales Price
150 ARC Dr $472,520 4 bed / 3 bath 3,292 sf Year Blt 1989
Robin's Marketing Minute - 2012/2013 Property Tax Appeals
If you disagree with the assessed value shown on the tax bill you will be receiving for your residential property tax year 2012/2013, you have the right to file for an informal review by the Assessor during their filing period of July 2nd through November 30th.
Appeal form & instructions: Assessment Appeals
Visit My Website
*Source: Metrolist MLS
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