Jenni Ko

Chopped in half? The number of active listings in surrounding counties is less than half of what it was last year. Take a look at the images below. What do you ...see happening by price range? SACRAMENTO: -52.9% fewer listings PLACER: -56.4% fewer listings EL DORADO: -63.7% fewer listings YOLO: -53.4% fewer listings SAC REGION: -55.9% fewer listings Any thoughts?

Glowing stats? Yep. Here's a recap of the Sacramento region real estate market in 2020. Tomorrow I'll have stats for four different counties on my blog. Stay tuned. For now, what stands out to you?

Big stat. Housing inventory is at its lowest monthly level in over 15 years in the Sacramento region as well as each listed county. Why do you think it's so low... right now? Months of housing supply: - Sacramento: 0.72 - Placer: 0.85 - El Dorado: 1.07 - Yolo: 1.10 - Sacramento Region: 0.82 Any thoughts?

There’s so much talk about a coming wave of foreclosures and short sales. What do you make of that? And what do you see here in this graph?

Hot off the press. Just in case you woke up longing to see daily pending contracts in the Sacramento Region. Over nearly six weeks now we've seen a steady increase in pending contracts. We're basically inching closer to where we were before this whole thing began. Any thoughts?

Let's talk about pending sales. Here are some fresh stats and perspective about pending contracts since April 1st. 1) 44.6% of pendings have more than one offe...r 2) 15% less multiple offers during the pandemic 3) Expect 1 or 2 offers if priced reasonably 4) 5-10 offers is rare 5) Pending contracts have increased for a few weeks now after slumping from when the pandemic began. The recent uptick could be a sign buyers are getting more used to the market. Let's keep watching this dynamic to know more. I wrote more about that this week on my blog: http://sacramentoappraisalblog.com//are-buyers-sellers-ge/ 6) Inventory is still low. It was anemic before last month and that hasn't really changed much at all in light of less new listings coming to the market and 1,200+ canceled or hold listings over the past five weeks. 7) Buyers are sensitive about paying the right price. This has been commonplace for years and it's especially true right now. So sellers, price it right. Remember, the best comps are the ones actually getting into contract. Don't price according to a neighbor who is overpriced unless you want to sit instead of sell. 8) Buyers, we don't have a "name your price" market where you can offer any amount and score the deal of a century. You still have to bring reasonable offers. My advice? Act quickly and offer realistically. And if you need to negotiate on something, that's fine. Just be realistic in what you ask. Anyway, those are my thoughts. Anything to add?

Thank you Sarah Reynolds Oji for your words!! !!! This message is to my non realtor friends. Based on what you see on TV, you may believe Realtors are concerned because they can’t sell homes or hold open house.... The Federal government labeled residential real estate essential last week, and let me explain why....it’s not about sales, In reality, our government and the real estate industry are much more concerned about people with these sorts of challenges: A mother of two boys who just lost her husband in a horrible car accident last night. They didn’t have life insurance. She realizes she can no longer afford the home her and her children live in. That mom desperately needs to sell the house and get a smaller one in the same school district because she doesn’t want the kids to be further dramatized by losing their friends right after just losing their dad. The 80-year-old couple who just moved into a small condo to cut expenses and put their 4-bedroom colonial up for sale. They lost most of their life savings this month in the stock market crash. They must now sell their previous house immediately because they need the proceeds of that sale to sustain them financially. A couple with an infant daughter who has special long-term medical needs. They must move closer to the hospital that specializes in the type of procedure required to heal their little one. They need to move now. A woman and her two small kids who has been in an abusive relationship and finally had the courage to say enough is enough! Her priority is to get her kids to a safe home, she needs to move now. TV concentrates on the glitz and glamour of the profession. In reality, Realtors serve many people through some extraordinarily difficult times. Death, divorce, sickness, job loss. The list goes on. We don’t talk much about these people and their situations as we simply aren't able to for privacy purposes. Situations like those mentioned above and many others are taking place right now all over the country. We promise you its not to be selfish, but people do still need to buy, sell or rent a home as a basic need. It’s not about sales right now, it’s about serving those that need to move most!

This is very telling. Here is a look at pending contracts in the Sacramento region as well as some stats on listings. Deals are definitely still happening as th...ere were over 330 new pendings this past week, but pending contracts are down about 50% from two weeks ago. The lockdown has made a huge difference, but pendings started to slough prior to the lockdown in light of growing uncertainty, so we cannot just blame dull stats on the lockdown. Folks, we are in the middle of a pandemic and this is about what we would expect to see. This is something to watch closely and it would be wise to remain objective about what is happening both now and for the future. Eventually with lower pendings we'll see lower sales volume in coming time and that could affect prices. It's still very soon to dig too much into prices in my opinion as this market is still emerging. Any thoughts? See more

How might the coronavirus affect the housing market? I’ve been asked about this countless times this week. Here are some things to keep in mind. Any thoughts?

Thank you Ryan Lundquist!