• Archive for March, 2010

    El Dorado Hills

    March 23, 2010 // Comments Off


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    El Dorado Hills is a census-desginated place in the Sacramento region that is home to some exclusive and high-priced real estate communities. The El Dorado Hills real estate has, unsurprisingly, suffered in recent years as the bursting of the U.S. housing bubble dampened the appetite and mood for real estate transactions in the area as buyers hesitated or were unable to secure financing and sellers saw the values of their homes plummet.

    From November of 2009 through January of this year, there were 149 homes, two condos and 10 land properties up for sale in El Dorado Hills, according to RE/Max, a local realtor agency. Of those properties, 48 that sold were bank-owned properties and 39 were short sales. The range of prices of properties sold stretched from as little as $150,000 for a condo to $1.2 million for a more than 5,000-square-foot home in Serrano, a short sale, as it was listed at more than $1.5 million.

    In the middle of February of this year, there were 294 El Dorado Hills homes for sale listed, a decline of more than 20% from September 2009. The average asking price was around $665,500, down more than 8% from six months ago, while the median price was $522,500, down around 4.9% from six months ago. Of those 294 homes for sale, 21 are bank-owned, 45 are active short sales and  86 are short sales with accepted offers awaiting bank approval.

    From the three-month period of November 2009 through January 2010, there were 149 homes sold in the community, an improvement of almost 10% from the previous three-month period. The average sale price during the November-January period was just over $482,300, down only 0.02% from the previous period. Likewise, the median price was $432,000, down only 0.35% from the previous period. Homes spent longer on the market during the most recent period, at 113 days versus just 100 days from August through October. The market, however, ended up with just a 5.9 months’ worth of inventory, an improvement of the last period’s 8.1 months, as some of the excess inventory was cleared out of the market.

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    La Mesa Real Estate

    March 14, 2010 // Comments Off

    National University La Mesa Campus

    Southern California is well known as being a hot place for American real estate. When prices go up, the area has had some of the highest prices in the country, and when prices fell, the region was home to some of the nation’s hardest-hit communities, which lost significant amounts in value. In La Mesa, a city of about 55,000 in San Diego County, however, the worst appears to be behind the community as prices and values show a generally upward-bending trend.

    According to information from the San Diego Association of Realtors, La Mesa real estate showed marked improvement. The median price for a home in the early months of 2010 was $350,000, mostly unchanged from previous months, showing a stabilization in the market. Additionally, foreclosures have been falling in the area. Throughout the entire county, foreclosures were down to just 986 in January, from more than 1,500 in December.

    The federal government’s plan enacted in 2009 and later extended through 2010 to offer select homebuyers tax rebates and incentives of up to $8,000 for buying a home has helped move many of the La Mesa homes for sale off the market, though many were sold at prices lower than they were previously purchased for. In December 2009, an index of housing prices showed that San Diego County’s home prices rose 0.1% from the previous month, according to the San Diego Union Tribune, which was the eighth straight month that the county’s real estate market rose, making for the longest streak among 20 metro areas the Standard & Poor’s/Case-Shiller Home Price Index monitors.

    The index showed that prices of homes for sale in the county, in which La Mesa is located, rose 2.7%  in December year-over-year. The index stood at 156.29, up 8.2% from a low of 144.43 in April but still 7.6% below the record high of 250.34 from November 2005. The index was set at 100 for January 2000.

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    Posted in California