Greetings,
You know that we are in the final weeks of 2012 by all of the beautiful holiday decorations throughout the neighborhood. The HOA has announced a decoration contest again this year and it looks like it will be another difficult year for the judges.
Ever watched the start of a 26.2 marathon??? This Sunday is your opportunity when the California International Marathon (CIM) passes right in front of ARCN. The race starts at the Dam Road and Folsom Auburn at 7am, then turns onto Oak Avenue and continues all the way to the steps of the Capitol downtown. It is really a fun event and the runners are inspired by the cheering crowds, so grab your warmest jacket, a cup of hot coffee and head down to Oak Avenue . I’ll be running again this year and look forward to seeing your smiling faces!
Calif. median home price: October 2011: $278,060 (Source: C.A.R.)
Calif. Pending Home Sales Index: October 2011: 122., an increase of 3.1 percent compared with a prior year.
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)
Mortgage rates: Week ending 11/23/2011 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.30 fees/points: 0.7% 1-yr. adjustable: 2.79% Fees/points: 0.6% (Source: Freddie Ma
FOLSOM: Sales have picked up slightly since October with the majority of the sale prices in the $200,000 to $300,000 price range and the number of homes in escrow (pending) is down. The current active listing inventory has remained unchanged.
Folsom’s housing stats for November 2011*
Current Properties for Sale
Properties Sold in October 66 Price Range: $85,499 - $660,000
Properties Sold in November 79 Price Range: $133,000- $827,000
Current Pending Sales 100 Price Range: $60,918 - $700,000
Folsom Sold Homes by number of units in each price bracket:
$100,000’s – 16 $200,000’s – 27 $300,000’s – 21
$400,000’s – 9 $500,000’s – 3 $600,000’s – 1
$700,000’s – 0 $800,000’s - 1
ARC NORTH: Our active listing inventory continues to be extremely low, which in a more normal market, would equate to higher sales prices, but it’s just not happening. In the January 2012 Market Update I will chart the overall yearly stats for ARCN for 2007 through 2011. With 3 properties pending, there should be several homes closing escrow in the few next weeks, but there were no new closings in November.
Current Stats*: 10 Active Listings, 2 Active Short Sales, 4 Short Sale Contingent, 3 Pending, and 0 Sold/Closed since 11/1/11.
Changes in ARCN since 11/1/11*:
New Listings:
243 Alabaster Point $675,000 4 bed / 3 bath 4,037sf Yr Blt 2006
New Pending:
167 Lost Creek $499,000 5 bed / 2.5 bath 3,188sf Yr Blt 1988 Short sale
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*Source: Metrolist MLS Data
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