Roseville Real Estate Podcast with the Demattei Team

The most common question we get here at the DeMattei Team is "How is the market doing?" There's no easy answer to this question because it depends on three factors:

In our market right now, the under $300,000 market is red hot because there isn't a lot of available inventory. In the $300,000-$500,000 price point, we had about 1,500 homes for sale and we closed 843, which equates to an inventory of 1.8 months of inventory (a strong seller's market). Prices in this price range are stable right now and homes are selling.

The next range is the $500,000-$750,000 price range. In this range, we have 740 homes for sale, and last month we closed 227 homes, for a supply of 3.3 months. This is a neutral market where neither buyers nor sellers have a distinct advantage. If you're a seller in this price range, you really need to price your home in relation to what the comparable sales say it should be priced at. 

We start to see a very dramatic change in the $750,000-$1 million price range. Last month, there were 258 homes for sale and we closed 43, making this a buyer's market. There is a lot to choose from in this price point.

Finally, there is the $1 million+ price range, in which we had 249 homes for sale last month and only closed 12. This equates to a 20-month supply of homes and a distinct advantage for buyers in the luxury market.

The good news is that pending sales are up in every price range! This means we're moving more toward a seller's market in the higher price ranges. In the lower price ranges, it means prices are being pushed up slowly, and homeowners in that price range are building more and more equity. 

If you have any questions about market conditions in your specific area, or if you need real estate assistance of any kind, give me a call or shoot me a quick email. I would love to hear from you!

 

The DeMattei Team is out and about once again here in Roseville! Today, we take a look at what activities the Roseville Utility Exploration Center has available for families! 

This week at the center, it's Fix a Leak Week! They have informational material that instructs you on how to test whether you have leaks in your home. You can save money on your water bill and also conserve thousands of gallons of water! It's not only a great educational experience, but a fun one as well! 

There are a number of things you can do at the Roseville Utility Exploration Center. For one, they have a large, beautiful, interactive exhibit to explore. Since the City of Roseville owns its own utilities, the space is funded to share the city's message in a unique way. There are special events, workshops, classes, and even field trips for school kids. 

It's free to come by and take a look at all the great things here, and you only have to pay a small fee for certain special events. For news of upcoming events here at the Utility Exploration Center, keep your eye out for the DeMattei Monthly Newsletter or check out our Facebook page! Or, if you want to be notified directly, you can follow the Roseville Utility Exploration Center on Twitter, Facebook, or sign up for their newsletter! 

You can find the center at 1501 Pleasant Grove Blvd, right next to the Riley Library in Mahany Park! As always, if you have any real estate questions, give the DeMattei Team a call or shoot us an email. We would love to hear from you!

Today's blog comes to you from Big Valley Mortgage, the preferred lenders of the DeMattei Team. We're pleased that our good friend, Marc Brinitzer, is here to give us a quick update on the state of the mortgage market!

In the last week or two, rates have been getting better. This is largely because the European central banks have been easing credit. They're injecting about one trillion dollars into the eurozone in an effort to boost the various economies there. Many investors have elected to come to the US because US treasuries are yielding higher amounts, which has effectively lowered our rates a bit.

This means that conventional interest rates are hovering around 4%, and FHA and VA rates are between 3.5% and 4%. According to recent economic reports, job growth has been steady, and lower gas prices have increased the spending power of most consumers. All of this bodes well for the US economy, but there is a constant fear that the Fed will be raising interest rates soon. No one is certain, but it's generally expected that rates will rise sometime this summer.

If you have any questions about the mortgage market, you can reach Marc at (916) 761-3760. For your real estate needs, give us a call or shoot us an email at any time. We would love to help you take advantage of these low rates while they're still around.

We look forward to hearing from you soon!

 
With the busy spring market just around the corner, there is no better time to start preparing your home for the market. Today, we share 5 tips to help you sell your home fast and for more money!

If you would like additional tips to help you get more for your home in less time, give us a call or shoot us a quick email. We would love to help you take advantage of the spring market here in Sacramento!

you know what buyers will pay for your home in today's market. You may

also call me at 916-788-8822 for a FREE home buying or selling

consultation to answer any of your real estate questions.

Today, we're reporting from William Jessup University to celebrate the ribbon cutting and grand opening of their new School of Education. The university started in San Jose in 1939, and moved to Rocklin in 2004. Since that time, Jessup has been offering unparalleled excellence in education for the Greater Sacramento area! 

This week marks Homecoming week, celebrating the 75th anniversary of the educational institution known as San Jose Christian College for 65 years, and as William Jessup for the last 10 years. The university is growing exponentially - new dorms are being built, the new School of Education has recently opened, and brand new programs are being added. Most people know there is a traditional program for high school graduates to enter the university as freshmen, but there is also a growing Professional Studies Program, an accelerated program for adults. It's great for people who now have time to finish up a degree they've already started, and will provide the foundations for a successful career. 

If you have a student who's graduating soon, or if you're a professional who is looking to continue your education, give us a call or shoot us an email. We would love to put you in touch with the wonderful folks at Jessup! 

Thanks, and have a great day!

you know what buyers will pay for your home in today's market. You may

also call me at 916-788-8822 for a FREE home buying or selling

consultation to answer any of your real estate questions.

 

Today, I'm going to do something a little different. I want to show you one of my favorite places to eat, The Sandwich Spot on the corner of Roseville Parkway and Pleasant Grove.

The Sandwich Spot is owned and operated by Charisse and Mike, who pride themselves on providing a laid back atmosphere in both the front of the house and behind the counter. The key to their success is keeping their employees happy and friendly so they can give excellent service to their clientele. 

Charisse and Mike feel that consistency is crucial when making sandwiches. They want every person to have the same incredible experience. They order a special parbaked bread from Boudin Bakery in San Francisco, giving the sandwiches an irresistibly unique flavor. Charisse's favorite sandwich is the #12, which has hot pastrami, roast beef and salami. My personal favorite is called The Viking, which has hot turkey, sliced avocados, and special sauce. Just thinking about it is starting to make me hungry!

Another cool thing about The Sandwich Spot is they don't use prepackaged products. The meats and cheeses are sliced in the restaurant every day, and the avocado is fresh out of the husk. It's a community restaurant - they call regulars by name and will often have local sports playing on television. Mike and Charisse are hoping to get to the point where people associate Roseville with the Sandwich Spot, and I would say they're well on their way!

The DeMattei Team really appreciates the Sandwich Spot. We encourage you to check them out - order a sandwich, play some shuffleboard, and just enjoy the atmosphere. We really love it, and we think you will too! 

you know what buyers will pay for your home in today's market. You may

also call me at 916-788-8822 for a FREE home buying or selling

consultation to answer any of your real estate questions.

Today, we're going to share a few reasons why people really enjoy living in the Roseville and Sacramento region. We've put together a list of the top 4 reasons why our area is a great place to live! Let's dive right in:

1. Location: In one direction, we are only 2 hours from Lake Tahoe. In the other direction, we are only 2 hours from San Francisco! 

2. Recreation: Within a 30-minute drive from the Roseville/Sacramento area, there are numerous recreation options. 

3. History and Culture: There's no shortage of culture and history in the area!

4. Overall Quality of Life: People love to work and play here!

 

There are many reasons why we think our area is one of the best places to live in California. If you have any questions about our list, or if you would like us to show you around the area, give us a call or shoot us an email. There are many benefits to setting up shop in our area, and we would love to prove it to you!

you know what buyers will pay for your home in today's market. You may

also call me at 916-788-8822 for a FREE home buying or selling

consultation to answer any of your real estate questions.

Hello, and welcome to 2015! Today, we take a look at recent trends in real estate so you can get an idea of what to expect in the coming months.

In December, there were 4,000 homes for sale in the Roseville area. That number was substantially lower than what we saw in September of 2014, when we had 5,871 available homes. This substantial drop in inventory is common - many people take their home off the market before the holidays. As we get closer to the spring months, we will see inventory increase.

Prices have been stable since April 2014, as they've only fluctuated between $178 and $183 per square foot. We expect the stability of prices to continue; interest rates are still incredibly low and will continue to draw buyers into our market. At the same time, there are going to be a lot of sellers putting their homes on the market, and builders continue to add new inventory to the market as well. These two factors will counterbalance each other, and prices will remain stable.

All these statistics are based on our three county area: Placer, El Dorado, and Sacramento counties.  Each neighborhood, in each county, has different buying and selling conditions. If you want specific data for the area you're interested in, don't hesitate to give us a call. We're here to be your real estate resource! 

We look forward to talking with you, and we wish you a very happy and prosperous 2015!

Happy Holidays, everyone! From the entire DeMattei Team, we want to wish you and your family the best this holiday season. As you can see, we had a little trouble articulating our message the way we wanted to on video, so we are going to do it here in print. 

We had a tremendous year in 2014, and it was thanks to all of you. We have tremendous clients and past clients who have helped us tremendously by referring us to their family and friends. Thanks to all of you, we can say we had a very successful year and are looking forward to another one in 2015.  

If you have any questions for us about real estate, we are never too busy to take a call or respond to an email. Once again, have a very Merry Christmas, and a Happy New Year! We look forward to seeing you in 2015!

Today, our friend Marc Brinitzer from Big Valley Mortgage shares some lending tips with us. We asked him some questions to get a good idea of what's going on in the lending world. Here's what he shared with us:

If we're talking about conventional interest rates, they are hovering around 4.5%, give or take about .25%. However,  a 15-year fixed-rate mortgage can be obtained for under 4%! Be aware that these rates are very sensitive to credit scores and down payments. FHA and VA loans, on the other hand, are around 4% and sometimes even lower.

Almost. Last year, we saw interest rates rise when the Federal Reserve announced plans to stop the QE3 stimulus program. However, rates have slowly been coming back down, so they're slightly more favorable than they were after that initial increase.

What's going to happen next is an increase in short-term rates, but people are still waiting on the Fed to announce when that will be. The stimulus consisted of the Federal Reserve buying mortgage-backed securities and US treasuries in the secondary market. The plan was to stimulate the economy by flooding it with money. At some point, they will start to raise the short-term rates, which will then trigger a rise in long-term rates. Everyone is worried that will happen soon, but the Fed doesn't seem ready to let us know exactly when that will happen.

When interest rates go up, monthly payments go up. People aren't always aware that lenders are qualifying people to buy at their absolute debt ratio. If rates go up from there, we don't have room to let the payment increase. In cases like that, we have to back the price down on the home. For example, for a $300,000 purchase with a 4% FHA rate, if rates go up .5%, the payment on that house will increase by $85 a month. If this happens, a buyer may no longer qualify for the loan they need to purchase the home they want. For that example, the buyer would only be eligible to purchase for $285,000.

Not really. If you decide not to buy a house today because you think it will be cheaper tomorrow, you may not be saving yourself any money if rates go up. In fact, you may end up spending more when home prices go down because the rise in rates have more than made up the difference. Our advice is, if you find the right home, buy it today while rates are low.

It's nice to bring in an expert every once in awhile to give us a full picture of a sometimes confusing topic. If you would like more information on the lending side of real estate, you can reach Marc at (916) 761-3760 or [email protected]. He would love to chat with you!

As always, we're your best resource for real estate information in Roseville and the surrounding areas. We're always available to assist you, and would love to hear from you!