Business

Modesto's Home Flipping Rate Rises, Bucking National Trend

September 14, 2017 | Steve Milne

Modesto has one of the highest home flipping rates in the United States. Analysts say flippers like Modesto because it still has a lot of low-priced housing available.

Investors Buying More Home Foreclosures As Inventory Declines

July 20, 2017 | Steve Milne

Banks are repossessing fewer Sacramento area homes, according to new numbers out today. It's great news for homeowners. But it means fewer opportunities for first-time home buyers who don't have a lot of money to spend and are looking for discounts.

Home Affordability In Sacramento County At Nine Year Low

June 29, 2017 | Steve Milne

Sacramento County's median home price was $318,000 in the second-quarter of this year, helping to sink the affordability index even further. Analysts say affordability is the lowest it's been since the first quarter of 2008.

More Competition For Low-Priced Foreclosures

February 2, 2017 | Steve Milne

More third-party buyers are stepping into the Sacramento area housing market. Those are investors who buy foreclosures to convert into rentals or resell at higher prices. Last year, 45 percent of foreclosure auction sales went to third-party buyers.

Sacramento Home Affordability At Eight-Year Low

December 22, 2016 | Steve Milne

Annual home-price appreciation in the fourth-quarter outpaced wage growth in Sacramento County. The median sales price of $305,000 is up 12 percent from a year ago, while average weekly wage growth is up by only one-percent.

Report: Foreclosures Below Pre-Recession Levels

July 14, 2016 | Steve Milne

New real estate statistics show there were about 25,700 California properties with foreclosure filings in the second-quarter. Research firm RealtyTrac says that's 25 percent below the pre-recession average.

Report: Wages Not Keeping Up With Home Prices

June 23, 2016 | Steve Milne

A new report finds that home prices continue to outpace wage growth throughout the country - including the Sacramento region.

Report: Vacancy Rates Falling, Zombie Foreclosures Decreasing

May 19, 2016 | Steve Milne

A real estate report finds a 50 percent drop in Sacramento area "zombie foreclosures." That's when the bank has started the foreclosure process but not repossessed the property and the owner has left. The data also show vacancy rates are shrinking.

Report: Fewer Homeowners Underwater, More Equity Rich

May 5, 2016 | Steve Milne

RealtyTrac says at the end of the first-quarter, there were 611,563 California properties seriously underwater, representing 7.5 percent of all properties with a mortgage. That was down 18 percent from the same period last year.

Report: Investors Flipping Fewer Homes

April 28, 2016 | Steve Milne

New real estate statistics for both California and Sacramento County show institutional investors, or companies that buy and flip homes, accounted for less than one percent of all property sales in the first-quarter.