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THIS IS PLACER
Real Estate Blog
Placer County Real Estate Sales March 9th - 15th, 2015
There were 102 homes, 4 condos, 6 parcels of land and 1 duplex that sold in Placer County during the week between March 9th and March 15th, 2015 in Metrolist MLS.
The least expensive property that sold in Placer County during the period was an 840 square-foot condo on Sapphire Drive in Auburn, which sold for $57,000 after being listed for $60,000. The most expensive property sold in Placer County during the period was a 4,569 square-foot home on Camino Del Avion in Los Lagos in Granite Bay, which sold for $1,140,000 after being listed for $1,169,000.
The following map and list show the location and details for the properties that sold during the period.
| Type | Sale Price | Address | Sqft | Year Built | |||||
Placer County Median Home Price Up 18.6% in 2012
2012 was an incredible year for home prices in Placer County. After seeing prices drop month after month, quarter after quarter and year after year over the past 7 years, things finally turned around and started an upward trend in 2012.
Between December 2011 and December 2012, in Metrolist MLS, the median sales price of single family homes in Placer County increased 18.6%, while the average price increased 18.7% and the average price per square-foot rose 13.3%.
Over the past 7 years we have still seen a 38.8% decline in the median price, 36.7% decline in the average price and 41.7% decline in the average price per square-foot, but the bottom had to be reached at some point, and at least for now it appears that it was reached at the end of 2011.
…Where Did Buyers Purchase New Homes in Placer County During 2012?
A side effect of the tight inventory of resale homes in Placer County in 2012 was a marked increase in the number of new homes be constructed and sold.
As home buyers found it ever harder to find an elusive resale home to buy, many turned to the new home builders.
They found the process of purchasing a new home preferable to the often tedious task of battling it out for existing resale inventory with multiple offers, drawn out short sale processing periods and other unknowns.
Purchasing a new home allowed them to walk into a model, find what they like, sign a contract, pick their upgrades, set a move in date and then move in after a few short months.
While buying a new home may not always get you the steep discount that may be available on some
…$85k Home in the 1980s or a $200k in 2012 - You Pay the Same in the Long Run Either Way
The California Associtaion of Realtors recently released the following infographic to help put into perspective how great the interest rates are right now.
If you bought an $85,000 home in 1980 with 20% down payment and an average interest rate for that decade of 12.7%, your payment would be the approximately the same as it would be for a $200,000 home at today's rates hovering around 3.5%.
Your principal and interest payment for the $85,000 home at 12.5% in the 1980s would be $900. The total cost over 30 years would be $326,000 with $241,000 in total interest paid.
Your principal and interest payment for a $200,000 home at 3.5% today would also be $900. The total cost over 30 years would be $323,000 with $123,000 in total interest paid.
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