Placer County Real Estate Recap: August-September 2013

Don’t miss the most important events in Placer County real estate news for the months of Aug-Sept, 2013. Be sure to check back often to stay up to date on the Placer County real estate market. Compliments of Pizzimenti Homes & Associates.

What the government shutdown means to REALTORS®, California Association of Realtors®

placer-county-real-estateHow does the government shutdown affect federal housing and mortgage programs? As the recent rejection of the Continuing Resolution (CR) means that some housing-related agencies are effectively shut down until further notice. Closed IRS and Social Security Administration offices could mean delays in some mortgage loan applications.

The good news is that the Federal Housing Finance Agency will continue operations, and will endorse new single-family mortgage loans. Multifamily mortgage loans however will not be endorsed at this time. In short, for the most part, the housing market will not be heavily impacted by the government shutdown.

Placer real-estate market stays in recovery mode, The Press Tribune

A limited supply of houses on the market meant that houses were being sold quickly in Placer County and Auburn real estate markets in August. Median sales prices in Auburn increased in August from the previous year from $271,000 to $326,500. Placer County saw similar increases with median sales prices of $360,000 (up from $285,000 in 2012). A fear rising interest rates has also prompted buyers to act quickly. Despite the sharp growth in the last few months, expect a steady market increase of 5-6 percent.

Soil questions answered, Wal-Mart ready to build in North Auburn, The Press Tribune

After some delay, North Auburn residents can expect construction of a new Wal-Mart to begin in early 2014. The proposed site, the former Bohemia lumber mill passed dioxin soil tests. The concern of possible soil contamination was raised by the Alliance for the Protection of the Auburn Community. The 155,000 square foot store is slated to open in 2015.

Get the Most Bang for Your Buck on Home Improvements, Roseville Patch

If you're a home seller renovating your home on a budget, there are changes that can add significant value to your home without breaking the bank. Repainting rooms in a neutral color gives a room that crisp visual appeal. Properly insulating your home will cut future energy bills by 40 percent. When updating an older traditional home, opt for contemporary furniture like pieces from Ikea for a rejuvenating facelift. Finally, rather than buying all new appliances, spend your money on decorative updates like knobs, and hardware, or a backsplash.

John LaRosa, PHA Realty Director of Marketing

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