sacramento

I just helped a wonderful couple purchase a home. They are empty nesters. They are young and active (actually, athletic) baby boomers that no longer have a need for a larger home in the suburbs.

This has me thinking. I believe our economy over the next generation or so will be determined in large part upon the actions, desires, needs, and, yes, spending habits of the generation that came before me. So the same will of course be true in regard to the real estate market, no?

I should think that we will begin to see the inhabitants of those wonderful suburban McMansions (often occupied by baby-boomers with children) begin to empty out as the kids move on and the parents no longer have any need or desire for their 2,500, 3,500, 4,500 square foot home. It makes sense to me that, while there will certainly be people of my own generation eager to take their place, that there just won’t be enough numbers to compensate for those looking to sell.  Where will these baby-boomers go? That is the $60,000 question, isn’t it. I don’t know. Remain in the suburbs? Maybe. Move to the cities? Possibly.

The one thing I can guarantee, though, is that most of them won’t be staying put.

[via Friends of Fremont Park]

Celebrate CADA’s 30th Anniversary and the Revival of Fremont Park!

Join the Capitol Area Development Authority (CADA), Councilman Rob Fong, the City of Sacramento Parks & Recreation, and Local 522 of Sacramento Area Fire Fighters on Friday, September 19, 2008 from 5pm to 9:45pm for food, live entertainment and Disney’s movie, “Enchanted.” Fremont Park is located at 16th and P Streets and the public is encouraged to walk to the event or utilize the free bike valet provided by Sacramento Area Bicycle Advocates (SABA).

Avoid the commute and enjoy barbequed hamburgers and hot dogs starting at 5pm! Bring a lawn chair or blanket for the movie, but come early as the seating area is limited to 200 people. Admission is free and the movie is anticipated to start at dusk (around 7:30pm).There will be a bounce house, balloon artist, face painter, carnival games and free fingerprinting for the children.

For more information about CADA’s 30th Anniversary, contact Karen Fleming, CADA Communications Administrator at (916) 322-2114 or (916)384-7210.

And now, from the “Why didn’t somebody think of this sooner?” department:

With electronics everywhere these days, plugs can be at a premium. Who hasn’t had the experience of searching for a wall outlet, only to find it occupied by a gigantic power cord blocking access to the other socket ?

Thanks to designer Kim Gerard, we now have the ingenious 360 Electrical Rotating Duplex Outlet. Each socket rotates a full 360 degrees, allowing endless configurations, and most importantly, the ability to fit two bulky power cords in the same outlet.

Terrific, simple design solution - a little change with big results.

[via Remodelista]

It’s hard to know what to call Bruno Taylor. Is he a street artist, or a guerilla playground builder? Either way, his work is a fun commentary on the sometimes overly serious society of today.Taylor took it upon himself to inject a dose of play back into the streets by installing swings in London bus stops.

He explains the project:

“71% of adults used to play on the streets when they were young. 21% of children do so now. Are we designing children and play out of the public realm?

This project is a study into different ways of bringing play back into public space. It focuses on ways of incorporating incidental play in the public realm by not so much as having separate play equipment that dictates the users but by using existing furniture and architectural elements that indicate playful behaviour for all.

It asks us to question the current framework for public space and whether it is sufficient while also giving permission for young people to play in public.

Play as you go…” Bruno Taylor.

[Pixelismo via Wooster Collective]

Speaking of short sale success, I just got notified that a short-sale that was being negotiated on behalf of my clients has been approved. This was one of those deals that had all of the right signs, but, because it was a short sale, nobody was holding their breath!  It is a deal for some dream clients that have been very patient throughout the ordeal (which, I believe, began in February!).  There were a number of other offers on the table, but the listing agent went ahead with ours (obviously, the strongest).  We asked the right questions, the buyers and their lender did the right things, and, just as importantly, the listing agent’s negotiator did a bang up job making this happen.

My clients were well informed that this deal was a long shot (and certainly not a done deal yet!), so they continued to look at other properties and remained patient.  In the meantime, nothing seamed to meet their specific needs and their growing family quite like this house, so I am just thrilled for them.  We still have a long road ahead of us to make this thing close as smoothly as possible. But getting this approval (it happens with only 1 in 62 short sales on the market) was a major victory!

June '08 Sacramento Home Sales Statistics

That’s right.  In January of this year, we saw barely 800 homes sell in the Sacramento region.  In June, we saw over 1600.  

Number of Homes Sold in Sacramento Region

What does this mean?  It means that as we sell through housing inventory, the market can begin to stabilize.

Average Sales Price in Sacramento

Over all prices are still low because so many of the homes that are selling are distressed, REO, and short-sales.  It is also why average prices are so low in specific communities but stay relatively stable in the urban core:  there are fewer foreclosures in the urban center.