The Real Folsom Blog

Recent Folsom Home Sales June 25 '08

Following are the Folsom home sales that were recorded by MetroList, our local multiple listing service during the past week. The properties were listed and sold by various multiple listing service brokers.

104 Paydirt Ct (3 bed/2 bath, 1230 sq ft) sold for $275,000 on 6/19 at 87.05%, $224 per sq ft.

363 Coventry Cir (3 bed/2 bath, 1310 sq ft) sold for $305,000 on 6/20 at 103.42%, $233 per sq ft.

211 Barnhill  (4 bed/2.5 bath, 1930 sq ft) sold for $350,000 on 6/20 at 94.60%, $181 per sq ft.

183 Oxburough Dr  (4 bed/3 bath, 2174 sq ft) sold for $370,000 on 6/20 at 112.12%, $170 per sq ft.

1444 Walden Dr (4 bed/3 bath, 1834 sq ft) sold for $376,000 on 6/20 at 95.19%, $205 per sq ft.

508 Fisher Cir (5 bed/2 .5 bath, 2483 sq ft) sold for $427,000 on 6/23 at 97.07%, $172 per sq ft.

100 Newington Way (4 bed/2.5 bath, 2268 sq ft) sold for $455,000 on 6/23 at 100.22%, $201 per sq ft.

104 Berry Creek Dr (3 bed/2 bath, 2301 sq ft) sold for $465,000 on 6/19 at 97.92%, $203 per sq ft.

127 Rebecca Way (4 bed/2.5 bath, 3344 sq ft) sold for $542.,050 on 6/19 at 95.94%, $162 per sq ft.

1835 Woodglen Dr (5 bed/4 bath, 3111 sq ft) sold for $820,000 on 6/20 at 97.74%, $264 per sq ft.

 

 

Green Tuesday: SMUD Offers Renewable Resources Plans

SMUD's Greenergy program may be just what you are looking for if you are interested in making your home a bit more green. According to its web site, more than 30,000 SMUD customers are currently signed up for its Greenergy program, making it one of the nation's top green pricing programs.The program basically offers customers the choice of supporting energy created by green resources. As a Greenergy member, SMUD matches up to 100 percent of your electric needs with purchases of renewable resources for use on the SMUD power system for pennies a day (there are four option plans). Plus SMUD matches 40 percent of the Greenergy premium you pay to help secure new power plants fueled by renewable resources. For more facts on this program, go to http://www.smud.org/community-environment/greenergy/faq.html. This one is worth at least checking out!

Some Stats To Start Off the Week

Stats and numbers never cease to fascinate me especially when it comes to real estate. They tell stories and reveal insights into what's happening. So what do the numbers (drawn from our local multiple listing service) tell us this Monday about the Folsom real estate market?

All Homes for sale: 294

  Price range: $139,900-$1,695,000 (talk about a wide selection!)

  Median price: $444,900

  Average Days on the Market: 83

Repo Homes for sale: 19 (just a little over 6 percent of what's for sale)

  Price range: $139,900-$799,900 (once again a wide selection)

  Median price: $418,500 (compare with median price above)

  Average Days on the Market: 34 (the bank-repo market is a seller's market right now and this number reflects how fast they are moving)

Short Sale Homes for Sale:69 (at 23 percent of the market, this number is in keeping with what we hear in the news--that a wave of foreclosures is coming our way)

  Price range: $165,000-$775,000

  Median price: $359,000 (these are a good deal IF you can get them closed!)

  Average Days on the Market: 95 (compare that with the numbers above. A good part of the story is in that number. It's still proving hard to get lenders to agree to short sales so they don't close and the homes eventually go into foreclosure).

That's it for today. See you tomorrow...

Recent Folsom Home Sales Jun 19 '08

The following Folsom home sales were posted this week by MetroList, our local multiple listing service. The properties were listed and sold by various multiple listing service brokers. If you don't see a sale you've been wondering about, drop me a line at annerhea@kw.comand I'll look it up for you.

885 Halidon Way #1214 (2 bedrooms/2 bath, 985 sq feet) sold for $235,000 at 94% of list price on 6/18/08, $238.58 per sq foot. 

209 Ruth Ct (3 bedrooms/2 bath, 1204 sq feet) sold for $265,500 at 106.20% of list price on 6/16/08, $221 per sq foot. 

110 Penaranda Dr (3 bedrooms/1.5 bath, 1100 sq feet) sold for $290,000 at 96.99% of list price on 6/17/08 , $264 per sq foot. 

160 Livermore Way (4 bedrooms/3 bath, 2076 sq feet) sold for $330,000 at 94.29% of list price on 6/17/08, $159 per sq foot. 

910 Persifer St (3 bedrooms/1.5 bath, 1179 sq feet) sold for $345,000 at 98.60% of list price on 6/16/08, $293 per sq foot. 

872 Morningside (3 bedrooms/2 bath, 1753 sq feet) sold for $370,000 at 95.12% of list price on 6/17/08, $211 per sq foot. 

1148 Bramble Ln (4 bedrooms/2 bath, 2098 sq feet) sold for $400,000 at 95.24% of list price on 6/17/08, $191 per sq foot. 

102 Thorndike Way (4 bedrooms/3 bath, 2263 sq feet) sold for $430,000 at 95.77% of list price on 6/17/08, $190.01 per sq foot. 

That's all for today. Have a great day

Sac County Serious About Alarm Permits

One of the reasons I make a point of attending the Tuesday morning Folsom Home Tour hosted by the Sacramento Association of Realtors is for the many useful tidbits of information I get from simply attending or talking to other people in the real estate biz. Yesterday's tour meeting was not exception. What did I find out? That, you must have a valid alarm permit for any security systems with an audible alarm, regardless of whether they are monitored by an alarm company or not. According to the Sac Sheriff's Department, they respond to 32,000 alarm calls a year--98 percent of which are false alarms! So, bottom line, if you purchase a home that has an alarm system with an audible alarm, you must get a permit. And by the way, permits are not transferable so even if the previous owner had just gotten a permit, you still have to get your own. The permit fee is $50, with hefty surcharges if you don't comply when you are notified to pay up. For more info, e-mail alarms@sacsheriff.comor call 916-874-4616.

Make the most of this beautiful Folsom day!

Green Tuesday: Turn your desktop green!

I just heard of a desktop application--available for both PCs and MACs--that provides headlines, facts, and tips designed to help you reduce your carbon footprint with newsfeeds from the Environmental News Network.Unfortunately, for those of us who have already gone to the Vista OS, the widget is not yet available. For the rest of you, why not check it out: you can download it at enn.com/static/ecowidget.

May Stats Are In for Folsom Real Estate

I finally got the numbers for real estate activity in Folsom in May. They came out a little late this month but better late than never. This month there are some interesting insights in the stats, which go back two years:

* 486 homes were for sale in May--the lowest number in the past 2 years, yet 102 homes went under contract, which is the highest number in two years. Nearly 21 percent of the homes for sale got and accepted an offer.

* 79 homes sold in May--the highest number of homes sold since June of '07 when 79 homes also sold.

* Median price of homes sold in May '08 was $423,000 (average days on the market: 79), which is down 10.57% from the same month last year. Back in May '06, the peak month, median price of homes sold was $520,000. We're off 18.65% from that mark. That said, we have been seeing a steady uptrend in the median price of homes in Folsom during the past 5 months.

* Finally, a look at inventory: In May, we had 3.3 months of inventory--the smallest amount of inventory in two years.

Lots of questions in the numbers this month. Among them: Has the Folsom market stabilized price-wise? Only time will tell. But food for thought.

Make it a great week!

Is an FHA 203(k) Loan Right For You?

Today guest blogger Barbara Van Duyn, a mortgage planning specialist with First Priority Financial, talks about a type of FHA loan in which you can get renovation costs included in the purchase loan. If you have any mortgage questions, you can reach her directly at Barbara@VanDuynGroup.com.

FHA loans have been around for years; in fact if you bought a home in the 1980s you probably had an FHA loan. With the onset of a hot housing market in early 2000, mortgage banks flush with money to lend coupled with relaxed lending practices gave birth to exotic loans. They became as popular as the high school quarterback and FHA loans were benched. As they say, what comes around goes around and mortgage financing has gone back to the basic with FHA in the spotlight. One particular FHA program is the 203(k) renovation loan. Not well known… but a wonderful financing option for buyers considering properties in need of a little fixing because renovation costs can be included in the purchase loan. In fact, the 203(k) program allows renovation costs (up to $35,000) to exceed FHA’s standard loan limit which is $580,000 in Sacramento County. Some highlights of the FHA 203(k) loan are:

1. For owner-occupied properties of 1-4 units existing for at least one year
2. Can be used for purchase or refinance
3. Same qualifying guidelines as a regular FHA loan
4. Up to $35,000 to be used for qualified repairs/improvements
5. ½ of funds disbursed at close of escrow and remaining funds paid upon completion of work.
6. Work must be completed within 6 months of close of escrow

To learn more about this unique loan product, send me an e-mail. Until we meet again, take care!  Barbara 

Green Tuesday: Green Folsom Home Makes the News

There are lots of reasons to be proud to live in Folsom and it's no surprise that Folsom has been top ranked several times in recent years as a great place to live. Add to that the fact that in the 600 block of Mormon Street, Folsom builder Robert Walter is building a home so energy-efficient he is aiming to have it qualify for a LEED Platinum designation--a designation for sustainable home building given by the Leadership in Energy and Environmental Design. To give you an idea on what an achievement that would be: only one other home in California has achieved that designation.  Walter is working with SMUD to build a home with energy-efficient features that will translate into a combined $24 or so a month for gas and electricity. Jim Wasserman of the Sacramento Bee did a nice piece on Walter's project in his Home Front column this past Sunday. Check it out. The home is scheduled to be open to visitors in late Summer. I'll let you know when that's scheduled.

Today, I continue to catch up on the sales that recorded while I was out. The following Folsom home sales were recorded by MetroList, our local multiple listing service, during the last week of May. The properties were listed and sold by various multiple listing service brokers.

• 602 Blossom Rock Ln (2 bedrooms/2 bath, 1129 sq feet) sold for $239,900 on 5/30 at 100% of list price, $213 per sq foot.
• 812 Mormon St (2 bedrooms/1 bath, 714 sq feet) sold for $250,000 on 5/29 at 92.76% of list price, $350 per sq foot.
• 109 Sedgeford Ct (3 bedrooms/2 bath, 1352 sq feet) sold for $290,000 on 5/30 at 103.24% of list price, $214 per sq foot.
• 101 Picasso Wy (2-3 bedrooms/2.5 bath, 1501 sq feet) sold for $302,000 on 5/29 at 97.42% of list price, $201 per sq foot.
• 133 John Henry Cir (4 bedrooms/3 bath, 1754 sq feet) sold for $310,000 on 5/30 at 100% of list price, $177 per sq foot.
• 101 Jamie Ln (3 bedrooms/2 bath, 1137 sq feet) sold for $315,000 on 5/28 at 93.20% of list price, $277 per sq foot.
• 104 Cobble Ridge Dr (2-3 bedrooms/2 bath, 1245 sq feet) sold for $315,000 on 5/29 at 98.44% of list price, $253 per sq foot.
• 369 Coventry Cir (3 bedrooms/3 bath, 1721 sq feet) sold for $320,000 on 5/30 at 94.15% of list price, $186 per sq foot.
• 446 Slocum Dr (3 bedrooms/2 bath, 1488 sq feet) sold for $332,500 on 5/30 at 100% of list price, $223 per sq foot.
• 1494 Strabane Wy (3 bedrooms/2 bath, 1339 sq feet) sold for $335,000 on 5/30 at 101.53% of list price, $250 per sq foot.
• 1308 Tippens Way (3 bedrooms/2 bath, 1434 sq feet) sold for $340,000 on 5/28 at 97.17% of list price, $237 per sq foot.
• 105 Rockbolt Cir (3 bedrooms/2 bath, 1446 sq feet) sold for $348,000 on 5/27 at 96.80% of list price, $241 per sq foot.
  118 Hopfield Dr (3 bedrooms/2 bath, 1723 sq feet) sold for $350,000 on 5/30 at 109.41% of list price, $203 per sq foot.
  1140 Burwick Ln (3 bedrooms/2 bath, 1753 sq feet) sold for $420,000 on 5/28 at 93.54% of list price, $240 per sq foot.
  1169 Blackberry Cir (4 bedrooms/3 bath, 1992 sq feet) sold for $424,000 on 5/27 at 96.36% of list price, $213 per sq foot.
  109 Thorne Ct (4 bedrooms/2.5 bath, 2185 sq feet) sold for $463,000 on 5/30 at 98.62% of list price, $212 per sq foot.
  813 Fairchild Ct (4 bedrooms/2.5 bath, 2784 sq feet) sold for $510,000 on 5/29 at 96.41% of list price, $183 per sq foot.
• 1168 Burwick Ln (4 bedrooms/2.5 bath, 2433 sq feet) sold for $520,000 on 5/30 at 99.05% of list price, $214 per sq foot.
• 105 Tedford Ct (5 bedrooms/3 bath, 2968 sq feet) sold for $525,000 on 5/29 at 95.47% of list price, $177 per sq foot.
• 708 Taylor St (6 bedrooms/2.5 bath, 4090 sq feet) sold for $623,500 on 5/27 at 95.94% of list price, $152 per sq foot.
• 1658 Weinreich Ct (5 bedrooms/3.5 bath, 2962 sq feet) sold for $630,000 on 5/30 at 96.92% of list price, $213 per sq foot.
• 104 Endicott (4 bedrooms/3.5 bath, 3244 sq feet) sold for $680,000 on 5/29 at 99.27% of list price, $210 per sq foot.
• 2096 Tarbolton Cir (4-6 bedrooms/4 bath, 3650 sq feet) sold for $750,000 on 5/29 at 93.76% of list price, $205 per sq foot.

That's it for today. Make it a great day!