Amador County – Amador County has experienced the biggest leap in the number of escrows closed in the seven county Sacramento region, according to recently released June statistics from research company MDA Dataquick. Between June 0f 2009 and June of 2010, Amador County saw a 41.9 percent jump in total escrows closed on all homes. Coming in a distant second was Placer County with a 28.4 percent increase. The number of escrows closed on resale detached homes in Amador also increased 51.9 percent over the year, although it should be noted that Amador County home sales include resale condos; the county does not break them out separately. The bad news is that median prices for all homes in the county dropped by 10.4 percent over one year previous at the same time that strong investment activity has driven Sacramento region home sales to a new 20-month high. Dataquick Analyst Andrew LePage told the Sacramento Bee that this sales trend can be seen statewide. "In many mid- to high-end neighborhoods you have sellers being more realistic,” he said. Amador, El Dorado, Nevada and Placer counties all saw housing sales gains and are all consider pricier counties in the region. Median prices in Amador have dropped from $210,000 in June of 2009 to $188,100 last month, while Nevada Placer and Yuba counties also saw declining values. El Dorado, Sacramento, Sutter and Yolo counties saw slight increases in home values over that same period. The rising prices reflect fewer bank repo sales and more move-up houses in the market mix. Dataquick said investors are fueling many of the new investments, and especially in Sacramento County, where they bought about one in four houses sold. New investments have been aided by the $8000 federal tax credit for first time home buyers and encouraged by California’s homebuyer tax credit launched in March. In some Amador County properties, combined rebates can equal as much as $25,000. As of last Wednesday, the California Franchise Tax Board had taken 26,670 applications from first-time buyers for $100 million. The tax agency said it has taken 9,630 applications for another $100 million in credits for people who buy new unoccupied houses. The board said it will cut off applications after reaching 28,000. Dataquick said the next two months will be critical in determining whether sales growth is due in large part to stimulus opportunities. An estimated 43,964 new and resale houses and condos were sold statewide last month. Statewide, foreclosure activity has declined somewhat but remains high by historical standards. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
Monday, 19 July 2010 08:15
Amador County Experiences Leap in Home Sales, Drop in Values
Written by Tom-
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Amador County – Amador County has experienced the biggest leap in the number of escrows closed in the seven county Sacramento region, according to recently released June statistics from research company MDA Dataquick. Between June 0f 2009 and June of 2010, Amador County saw a 41.9 percent jump in total escrows closed on all homes. Coming in a distant second was Placer County with a 28.4 percent increase. The number of escrows closed on resale detached homes in Amador also increased 51.9 percent over the year, although it should be noted that Amador County home sales include resale condos; the county does not break them out separately. The bad news is that median prices for all homes in the county dropped by 10.4 percent over one year previous at the same time that strong investment activity has driven Sacramento region home sales to a new 20-month high. Dataquick Analyst Andrew LePage told the Sacramento Bee that this sales trend can be seen statewide. "In many mid- to high-end neighborhoods you have sellers being more realistic,” he said. Amador, El Dorado, Nevada and Placer counties all saw housing sales gains and are all consider pricier counties in the region. Median prices in Amador have dropped from $210,000 in June of 2009 to $188,100 last month, while Nevada Placer and Yuba counties also saw declining values. El Dorado, Sacramento, Sutter and Yolo counties saw slight increases in home values over that same period. The rising prices reflect fewer bank repo sales and more move-up houses in the market mix. Dataquick said investors are fueling many of the new investments, and especially in Sacramento County, where they bought about one in four houses sold. New investments have been aided by the $8000 federal tax credit for first time home buyers and encouraged by California’s homebuyer tax credit launched in March. In some Amador County properties, combined rebates can equal as much as $25,000. As of last Wednesday, the California Franchise Tax Board had taken 26,670 applications from first-time buyers for $100 million. The tax agency said it has taken 9,630 applications for another $100 million in credits for people who buy new unoccupied houses. The board said it will cut off applications after reaching 28,000. Dataquick said the next two months will be critical in determining whether sales growth is due in large part to stimulus opportunities. An estimated 43,964 new and resale houses and condos were sold statewide last month. Statewide, foreclosure activity has declined somewhat but remains high by historical standards. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.
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