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Nevada County Market Observations

Nevada County Market Observations

April 2021

It will come as no surprise to market watchers, and especially buyers, that lack of inventory in Nevada County continues. We see conditions nationally mirror Nevada County. Numbers are consistent with previous months. 359 houses for sale March 2020 vs 166 houses for sale March 2021, 53.8% lower year to year. Houses sold are up 21.5%, 156 Mar last year, 123 houses sold this January. 

Inventory reduction is from 2.9 months of inventory last January to 1.2 months of inventory this January, down 58,2%. A VERY, VERY STRONG SELLER’S MARKET continues, especially considering Nevada County’s attractiveness as one of the premier work-from-home communities.

The average SOLD price per square foot is up 21.9% year to year ($236 vs $293). Average price sold is up 14.6%, from $472,000 to $608,000 up 28.5%.  Higher list prices continue, driven by lack of inventory. 

Nevada County continues to be strongly attractive to buyers looking for safer havens, especially coupled with the myriad lifestyle opportunities and community connections the foothills offer. Days on market has fallen 24%, from 62 days last March to 54 days in March this year. Buyers are energized to immediately jump on good, well-priced houses especially given our current low inventory environment.

Buyer activity continues to be robust, with multiple offers often over ask. 

Don’t hesitate to call us for evaluations of your home’s value or to tour homes on the market you have interest in. We are here for you, and Alisa (almost) always answers her cell phone, 530-559-4871.

 

Hungry?  Here’s some essence of Spring!

Herbed Spring Salad With Egg and Walnuts

By David Tanis
  • YIELD4 servings
  • TIME20 minutes

 

David Malosh for The New York Times. Food Stylist: Simon Andrews.

This bright, herby, fresh-tasting salad makes a very nice accompaniment to a pan-fried breaded pork chop. Cooked beets (preferably golden) thinly sliced radishes, celery and turnips are dressed, then tossed with a mixture of zesty salad greens — use a combination of watercress, dandelion, curly endive, escarole, radicchio, mizuna, spinach, or red sorrel leaves. The components can be prepared in advance, but wait until the last minute before dressing and serving.

Featured in: A Stirring Spring Menu, Fit For A Celebration

 

 

INGREDIENTS

FOR THE VINAIGRETTE:

  • 2 tablespoons finely diced shallot
  • 1 tablespoon Dijon mustard
  • 1 tablespoon red wine vinegar or sherry vinegar
  • 3 tablespoons lemon juice, plus more to taste
  • ½ teaspoon grated garlic (from 2 small cloves)
  •  Kosher salt and black pepper
  • ¼ cup walnut oil or extra-virgin olive oil

FOR THE SALAD:

  • 6 ounces/4 cups lightly packed watercress or, preferably, a mixture of zesty salad greens
  • 3 medium golden beets, cooked, peeled and cut in wedges
  • ½ cup thinly sliced red radish (6 to 8 medium radishes)
  • ½ cup thinly sliced turnip (or use small kohlrabi or watermelon radish)
  • ½ cup thinly sliced celery heart, plus tender leaves (from the center of 1 celery head)
  •  Kosher salt and black pepper
  • 2 tablespoons roughly chopped dill
  • 2 tablespoons tarragon leaves
  • 4 (7-minute) boiled eggs
  • 1 cup toasted walnut halves

 

Russian Salad Recipe

Russian Salad Recipe

Russian Salad

Recipe from Vladimir Ocokoljic
Adapted by Gabrielle Hamilton
  • YIELD 6 1/2 cups (about 12 servings)
  • TIME 1 hour

Heami Lee for The New York Times. Food stylist: Maggie Ruggiero. Prop stylist: Sophia Pappas.

Basically a vegetable-studded potato salad with mayonnaise, Russian salad is hugely popular all over the world for family gatherings and festive events. It’s a beloved, traditional party dish riffed on almost everywhere but my own home: I’d only ever seen pasty, congealed versions I would never wish to eat until I tried this one from Vladimir Ocokoljic, served at his Serbian restaurant Kafana in New York City. While not quite as demanding as his aunt back in Belgrade, who used to slice even the peas in half, Mr. Ocokoljic insists on the tiny dice (each ingredient should match the size of a pea) and emphatically dislikes any sweet pickles (only gherkins or cornichons are a fit), making the finished dish delicate, luscious and savory. Whisking pickle brine into the mayonnaise creates a liquidy slurry, loose enough to dress the salad without its becoming smushed and gluey. —Gabrielle Hamilton 

INGREDIENTS

  •  Kosher salt and black pepper
  • 3 medium yellow potatoes (about 1 pound), washed
  • 5 thin carrots (about 1/2 pound), washed
  • 10 ounces frozen peas
  • 4 large eggs, fridge-cold
  • 3 ½ ounces boiled ham
  • 1 cup drained cornichons and 1/2 cup plus 2 tablespoons of their brine
  • 1 scant cup Hellmann’s mayonnaise

 

PREPARATION

  1. Bring a large pot of water to boil. Season with salt.
  2. Add whole potatoes to the boiling water, and cook 15 minutes. Add whole carrots to the cooking potatoes, and cook both another 10 minutes. Remove potatoes and carrots with a spider when easily pierced with a cake tester or a very thin knife blade, and set aside in a bowl.
  3. Add frozen peas to boiling water, and using the spider, remove them to a separate bowl as they float, until all peas have floated and been transferred to the bowl.
  4. Gently add the eggs, and allow to boil 10 minutes.
  5. While the eggs cook, peel the potatoes and carrots under cold running water by rubbing them gently with your fingers. Rinse the peas under cold running water to cool.
  6. Once the eggs are cooked, drain them, and peel under cold running water.
  7. Neatly dice the potatoes, carrots, ham, eggs and cornichons to the same approximate (and rather small) size as the peas, aiming for uniformity. Gently toss them all together in a large bowl.
  8. In a small bowl, whisk together the mayonnaise with the cornichon brine, and pour over the salad. Toss gently with rubber spatula or using your fingers until the salad is well coated. Season with several hearty grinds of black pepper.
  9. Refrigerate overnight, and serve cold

 

Cinnamon-Swirl Pumpkin Rolls

Cinnamon-Swirl Pumpkin Rolls

Cinnamon-Swirl Pumpkin Rolls

Halloween is a-comin’. We are a little sad that Covid has changed the trick-or-treat fun this year, but that doesn’t mean we can’t have fun in the kitchen!…here’s a good pumpkin recipe from our friends at King Arthur Baking. (We’re suddenly hungry ☺)

 

Ingredients

Dough
  • 1 cup (227g) pumpkin or squash purée
  • 2 large eggs
  • 2 tablespoons to 1/4 cup (28g to 57g) lukewarm water*
  • 4 tablespoons (57g) butter, softened
  • 2 1/2 cups (300g) King Arthur Unbleached All-Purpose Flour
  • 1 3/4 cups (198g) King Arthur White Whole Wheat Flour
  • 1/4 cup (28g) Baker’s Special Dry Milk or nonfat dry milk
  • 1 teaspoon cinnamon
  • 1/2 teaspoon ginger
  • 1/4 teaspoon cloves, optional
  • 3 tablespoons (43g) brown sugar, packed
  • 1 1/2 teaspoons salt
  • 2 teaspoons instant yeast

*See “tips,” below.

Filling
  • 3/4 cup (113g) Baker’s Cinnamon Filling*
  • 3 tablespoons (43g) water
  • 1/2 cup (57g) mini diced ginger, raisins, or dried cranberries, optional

*See “tips,” below.

Glaze
  • 1 cup (113g) confectioners’ sugar
  • 1 tablespoon (14g) butter, room temperature
  • 1 1/2 tablespoons (21g) milk, or enough to make a pourable glaze

NUTRITION INFORMATION

Instructions

  1. To make the dough: Mix and knead all of the dough ingredients together — by hand, mixer, or bread machine — until you’ve made a soft, fairly smooth dough.
  2. Place the dough in a lightly greased bowl, cover the bowl, and allow the dough to rise for 1 1/2 hours, until it’s almost doubled in bulk.
  3. Turn the dough out onto a lightly greased surface. Roll it into a 14″ x 22″ rectangle; the dough will be thin.
  4. To make the filling: Mix the cinnamon filling and water. Spread a thin layer over the dough, leaving one short edge free of filling.

Pumpkin cinnamon rolls

BY PJ HAMEL

  1. Sprinkle with crystallized ginger or dried fruit (or both), if desired.
  2. Starting with the short end that’s covered with filling, roll the dough into a log.
  3. Cut the log into 9 rolls (1 1/2″ slices).
  4. Place the rolls into a lightly greased 9″ x 9″ square pan that’s at least 2″ deep (or equivalent). Set aside, covered, to rise for 1 hour, or until the rolls look puffy.
  5. Bake the rolls in a preheated 375°F oven for 25 to 30 minutes, until they’re lightly browned and feel set. Remove the pan from the oven, turn the rolls out of the pan, and allow them to cool for about 15 minutes. Toward the end of the cooling time, make the glaze.
  6. To make the glaze: Heat the butter and milk together until the butter melts. Whisk into the sugar.
  7. Drizzle the warm rolls with the warm glaze. Sprinkle with chopped nuts, if desired.
  8. Store any leftovers, well wrapped, at room temperature for a couple of days; freeze for longer storage.

Tips from our Bakers

  • Adjust the amount of water by the time of year or your climate. For summer, or in a humid environment, use the lesser amount of water. In winter, or in a dry climate, use the greater amount. It’s always best to start with the lesser amount; you can always add more, but once it’s in you can’t add less!
  • Substitute 3/4 cup granulated sugar + 1 tablespoon ground cinnamon for the Baker’s Cinnamon Filling and water, if desired. If you use sugar and cinnamon, DO NOT ADD THE WATER called for in the recipe.
  • For a topping that stays white and remains on top of the rolls rather than partially melting in, allow the rolls to cool completely before glazing.

 

Have a great October! 

Roasted Tomato Tart Recipe

Roasted Tomato Tart Recipe

Roasted Tomato Tart With Ricotta and Pesto

ALEXA WEIBEL

  • YIELD 4 servings
  • TIME 1 hour

Christopher Testani for The New York Times. Food Stylist: Barrett Washburne.

Save those wider-than-tall, about-to-burst tomatoes for slicing and showering with flaky sea salt. For this recipe, you want smaller, sturdier varieties like kumato, Campari or petite heirlooms. Brushing the uncooked puff pastry with crème fraîche adds a subtle tanginess that you won’t necessarily notice, but the tomatoes will taste better for it. You might be tempted to skip salting your tomatoes, but don’t: It helps prevent a soggy crust while intensifying the flavor of your tomatoes. This tart is best enjoyed straight out of the oven, at its flaky prime, but it’s also great at room temperature, or even cold, devoured directly from the fridge.

INGREDIENTS

  • 4 small, multicolored tomatoes, such as heirloom, kumato or Campari (about 12 ounces total), sliced crosswise 1/4-inch thick
  •  Kosher salt and black pepper
  • 1 sheet packaged puff pastry, thawed (about 7 ounces) 
  • 3 tablespoons crème fraîche or sour cream
  • ¼ small red onion, very thinly sliced
  •  Aleppo pepper or red-pepper flakes, for garnish (optional)
  • ¾ cup fresh ricotta
  •  Store-bought or homemade pesto, for drizzling
  •  Extra-virgin olive oil, for drizzling
  •  Fresh basil leaves, for garnish (optional)

 

PREPARATION

  1. Line a large baking sheet with paper towels. Set the sliced tomatoes on top in a single layer. In a small bowl, combine 1 teaspoon salt and 1 teaspoon pepper. Use it to season the tomatoes evenly on both sides, cover with another paper towel and let sit, 15 minutes, allowing the salt to draw moisture out of the tomatoes.
  2. As the tomatoes sit, heat the oven to 400 degrees and set a rack in the middle of the oven. Working on a large sheet of parchment paper, roll out the puff pastry into a 9-by-11-inch rectangle, trimming any uneven edges. Prick the inside with a fork every few inches, leaving a 1/2-inch border. Using a pastry brush, coat the center of the puff pastry with the crème fraîche, leaving the border unbrushed.
  3. Working within the border, layer the tomatoes and red onion on top of the tart, allowing them to overlap slightly. Transfer to a sheet pan and bake, rotating halfway through, until puff pastry is browned and puffed, 30 to 35 minutes.
  4. Sprinkle tomatoes with Aleppo pepper, if using. Dollop with fresh ricotta. Thin pesto with olive oil until it reaches the proper consistency for drizzling; drizzle on top of tart to taste. Top with basil, if using, and serve warm or at room temperature.

 

Crispy Cheesy Pan Pizza

Crispy Cheesy Pan Pizza

From our friends at KING ARTHUR FLOUR: Crispy Cheesy Pan Pizza

Out of all the styles of pizza, we’ve chosen Crispy Cheesy Pan Pizza as our 2020 Recipe of the Year.

With its crispy golden edges, gooey layer of cheese (right to the edge!), and thick yet delicate crust, it has a texture and taste that make you want more. Plus, the crust has just five simple ingredients: it’s easy to pull off in a home kitchen.

Our recipe incorporates four baking “tricks.”

An untraditional, nearly no-knead method of folding the dough creates airy pockets in the crust. An overnight refrigerated rest allows the dough time to develop maximum flavor. Baking in a cast iron pan makes an audibly crispy crust for your flavorful assortment of toppings. And finally, the unique layering of cheese beneath the sauce acts as a barrier to minimize sogginess.

Crispy Cheesy Pan Pizza | King Arthur Flour
https://www.kingarthurflour.com/recipes/crispy-cheesy-pan-pizza-recipe

Ingredients

Crust
Topping
  • 6 ounces (170g) mozzarella, grated (about 1 1/4 cups, loosely packed)*
  • 1/3 to 1/2 cup (74g to 113g) tomato sauce or pizza sauce, homemade or store-bought
  • freshly grated hard cheese and fresh herbs for sprinkling on top after baking, optional*
Instructions
  1. Weigh your flour; or measure it by gently spooning it into a cup, then sweeping off any excess.

  2. Place the flour, salt, yeast, water, and 1 tablespoon (13g) of the olive oil in the bowl of a stand mixer or other medium-large mixing bowl.

  3. Stir everything together to make a shaggy, sticky mass of dough with no dry patches of flour. This should take 30 to 45 seconds in a mixer using the beater paddle; or about 1 minute by hand, using a spoon or spatula. Scrape down the sides of the bowl to gather the dough into a rough ball; cover the bowl.
  4. After 5 minutes, uncover the bowl and reach a bowl scraper or your wet hand down between the side of the bowl and the dough, as though you were going to lift the dough out. Instead of lifting, stretch the bottom of the dough up and over its top. Repeat three more times, turning the bowl 90° each time. This process of four stretches, which takes the place of kneading, is called a fold.

  5. Re-cover the bowl, and after 5 minutes do another fold. Wait 5 minutes and repeat; then another 5 minutes, and do a fourth and final fold. Cover the bowl and let the dough rest, undisturbed, for 40 minutes. Then refrigerate it for a minimum of 12 hours, or up to 72 hours. It’ll rise slowly as it chills, developing flavor; this long rise will also add flexibility to your schedule.

  6. About 3 hours before you want to serve your pizza, prepare your pan. Pour 1 1/2 tablespoons (18g) olive oil into a well-seasoned cast iron skillet that’s 10” to 11” diameter across the top, and about 9” across the bottom. Heavy, dark cast iron will give you a superb crust; but if you don’t have it, use another oven-safe heavy-bottomed skillet of similar size, or a 10” round cake pan or 9” square pan. Tilt the pan to spread the oil across the bottom, and use your fingers or a paper towel to spread some oil up the edges, as well.

  7. Transfer the dough to the pan and turn it once to coat both sides with the oil. After coating the dough in oil, press the dough to the edges of the pan, dimpling it using the tips of your fingers in the process. The dough may start to resist and shrink back; that’s OK, just cover it and let it rest for about 15 minutes, then repeat the dimpling/pressing. At this point the dough should reach the edges of the pan; if it doesn’t, give it one more 15-minute rest before dimpling/pressing a third and final time.

  8. Cover the crust and let it rise for 2 hours at room temperature. The fully risen dough will look soft and pillowy and will jiggle when you gently shake the pan.
  9. About 30 minutes before baking, place one rack at the bottom of the oven and one toward the top (about 4″ to 5″ from the top heating element). Preheat the oven to 450°F.

  10. When you’re ready to bake the pizza, sprinkle about three-quarters of the mozzarella (a scant 1 cup) evenly over the crust. Cover the entire crust, no bare dough showing; this will yield caramelized edges. Dollop small spoonfuls of the sauce over the cheese; laying the cheese down first like this will prevent the sauce from seeping into the crust and making it soggy. Sprinkle on the remaining mozzarella.

  11. Bake the pizza on the bottom rack of the oven for 18 to 20 minutes, until the cheese is bubbling and the bottom and edges of the crust are a rich golden brown (use a spatula to check the bottom). If the bottom is brown but the top still seems pale, transfer the pizza to the top rack and bake for 2 to 4 minutes longer. On the other hand, if the top seems fine but the bottom’s not browned to your liking, leave the pizza on the bottom rack for another 2 to 4 minutes. Home ovens can vary a lot, so use the visual cues and your own preferences to gauge when you’ve achieved the perfect bake.

  12. Remove the pizza from the oven and place the pan on a heatproof surface. Carefully run a table knife or spatula between the edge of the pizza and side of the pan to prevent the cheese from sticking as it cools. Let the pizza cool very briefly; as soon as you feel comfortable doing so, carefully transfer it from the pan to a cooling rack or cutting surface. This will prevent the crust from becoming soggy.
  13. Serve the pizza anywhere from medium-hot to warm. Kitchen shears or a large pair of household scissors are both good tools for cutting this thick pizza into wedges.

Tips from our Bakers

  • Our base cheese of choice is a block of low-moisture mozzarella, coarsely grated. Want to experiment with different cheeses? Choose those that melt well: Fontina, cheddar, Jack, provolone, Gouda, and Muenster are all good candidates.

  • Want to add your own favorite toppings beyond red sauce and cheese? Vegetables or meats should be cooked before arranging them in a single layer atop cheese and sauce. Feel free to experiment with other sauces, too; pesto or white sauce are great alternatives to tomato. One hint: To avoid potential sogginess, stick to the same quantities and layering process for sauce and cheese listed above.

  • For an extra hit of flavor, sprinkle freshly grated hard cheese (e.g., Parmesan, Asiago, Romano) and/or fresh herbs (oregano, basil, thyme) over the hot pizza just before serving.

  • If you’re serving the entire pizza (no leftovers) right away, you can serve it right from the pan if desired. We don’t recommend using a knife to cut the pizza in the pan; it might mar your cast iron’s surface. Instead, after loosening the edges, use a spatula to partially lift the pizza out of the pan, then cut a wedge using a pair of standard household scissors or kitchen shears. Remove the wedge and repeat until you’ve cut and served all of the pizza.

  • Feeding a larger group? Double all the ingredients in the recipe and follow the recipe instructions as written, dividing the dough into two pans (mix and match from the choices listed in step #6 above).

  •  Want to make a gluten-free version of this recipe? Check out our Gluten-Free Pan Pizza.

    let’s EAT!

Happy St. Patrick’s Day from Sierra Lifestyle Team!

Happy St. Patrick’s Day from Sierra Lifestyle Team!

 

ALL THAT GLITTERS IS NOT GOLD, BUT GREEN!

St. Patrick’s Day is celebrated annually on March 17, the anniversary of his death in the fifth century. The Irish have observed this day as a religious holiday for over 1,000 years. On St. Patrick’s Day, which falls during the Christian season of Lent, Irish families would traditionally attend church in the morning and celebrate in the afternoon. Lenten prohibitions against the consumption of meat were waived and people would dance, drink and feast–on the traditional meal of Irish bacon and cabbage.

Saint Patrick, who lived during the fifth century, is the patron saint of Ireland and its national apostle. Born in Roman Britain, he was kidnapped and brought to Ireland as a slave at the age of 16. He later escaped, but returned to Ireland and was credited with bringing Christianity to its people.

In the centuries following Patrick’s death (believed to have been on March 17, 461), the mythology surrounding his life became ever more ingrained in the Irish culture: Perhaps the most well-known legend of St. Patrick is that he explained the Holy Trinity (Father, Son and Holy Spirit) using the three leaves of a native Irish clover, the shamrock.

St. Patrick’s Day Celebrations Around the World

Today, people of all backgrounds celebrate St. Patrick’s Day, especially throughout the United States, Canada and Australia. Although North America is home to the largest productions, St. Patrick’s Day is celebrated around the world in locations far from Ireland, including Japan, Singapore and Russia. Popular St. Patrick’s Day recipes include Irish soda bread, corned beef and cabbage and champ. In the United States, people often wear green on St. Patrick’s Day.

So, put on a bit of green, fire up the corned beef and cabbage, and celebrate!

 

CELEBRATE ST. PADDY’S – PARTY WITH LOVED ONES!

 Public health concerns are seeing local events canceled or postponed as we write. One thing we love about living in the Sierra Foothills is the proactive efforts of our County managers and government to protect our environment and well-being of our colleagues and our neighbors.

So let’s celebrate at home with some great Irish food!

Corned Beef With Cabbage, Potatoes and Carrots

SARAH DIGREGORIO

YIELD 4 servings

TIME 4 3/4 hours

 

Corned beef and cabbage

Julia Gartland for The New York Times. Food Stylist: LIza Jernow

 

Cure beef brisket in a salty, spiced brine and it becomes savory, tangy and aromatic corned beef. Get a corned beef made from flat-cut brisket, if you can, as it will be easier to slice into neat, uniform slabs. (The point cut has more striations of fat and may fall apart when sliced.) Braise the meat until tender, and add the vegetables toward the end of the braising time so they’ll absorb the beef juices and soften until perfectly crisp-tender. Finish the beef with a simple honey-mustard glaze and a quick broil to caramelize, then serve it with more Dijon mustard and beer. (Here are slow cooker and pressure cooker versions of the recipe.)

INGREDIENTS

3 to 3 1/2-pound ready-to-cook corned beef, preferably flat-cut

1 ¼ cups semi-dry white wine, such as Riesling

1 pound red or Yukon gold potatoes, cut into 1- to 2-inch pieces

2 to 3 large carrots (about 1/2 pound), peeled and cut into 1- to 2-inch pieces

½ small head green or savoy cabbage (about 1 pound), core left intact, cut into 4 wedges

3 tablespoons Dijon mustard, plus more for serving

2 tablespoons honey

 Flaky sea salt, if necessary

 Black pepper

 PREPARATION

Heat the oven to 325 degrees. Remove the corned beef from its packaging in the sink and reserve the spice packet. Rinse the beef well under cold running water and pat it dry with paper towels. (If you don’t rinse off the brine, the meat will be too salty.) If there is a substantial fat cap on top of the beef, place the beef on a cutting board and trim most of it, if you’d like. (The fat will not completely render away during cooking.) Be sure to leave at least a thin layer of fat on top, about 1/8- to 1/4-inch thick, to keep the meat moist.

Transfer the corned beef to a large Dutch oven with the fat cap facing up. Add the wine and the spices from the packet. Cover the pot and transfer to the oven to cook, 3 hours.

Baste the beef with the cooking liquid. Drop the potatoes and carrots into the liquid surrounding the beef and lay the cabbage wedges on top. Cover and cook until the corned beef and vegetables are tender, 1 to 1 1/2 hours. (A paring knife should slip easily into the beef, but the meat should not be falling apart.)

Heat the broiler to high. Stir together the mustard and honey in a small bowl. Remove the corned beef from the pot and put it on a foil-lined sheet pan. Spoon the honey-mustard glaze all over the top and sides of the beef and slide it under the broiler. Cook until the glaze bubbles and caramelizes in spots, about 3 minutes.

Let the corned beef rest for 5 to 10 minutes, then slice it against the grain into 1/2-inch slabs. Place the beef slices on the serving platter alongside the vegetables and drizzle everything with a little bit of the cooking liquid. Taste the vegetables, and season them with flaky sea salt, if necessary. (The beef will not need to be seasoned with salt.) Season the beef and vegetables to taste with black pepper. Serve with Dijon mustard.

 

SCROLL DOWN FOR MARKET OBSERVATIONS

2020 Market Observations

by Bryan Lynch

Its hard to believe we are already near the end of February
in 2020. So far this year, my assignments have consisted of a continued mix of lender (mostly VA or conventional purchases) and private work. I am getting
some calls from agents and/or homeowners who are discussing the possibly of selling their home and need a neutral 3rd party appraisal to guide. 

What is interesting is interest rates are very attractive seemingly. At a glance last week, the average 30 year fixed rate is hovering around 3.75% and the 15 year rate is at 3.08%.  Will low rates encourage buyers to spend more and spur on prices? From my appraisal work, this does not seem to be the case. 

 

Here are a few observations and tips.

  1. The market has slowed. Slow does not mean the sky is falling or there is any immediate danger. It’s just that- slowing. In many areas, days on market has increased and pricing is very critical. I can’t emphasize that enough.
  2. Buyers are generally not over-paying. With expenses continuing to rise and in the Foothill market and the spike in home insurance costs, this will impact the buyer’s bottom line. Buyers know the numbers and are being generally cautious. It’s not just buyers obtaining a loan, but also cash buyers. I’ve completed a handful of private appraisals the past year for cash buyers who are concerned of not wanting to over-pay.
  3. Pay attention to recent closed sales as well as active listings and pending sales. I’ve completed some purchases recently where the contract price was not supported in my estimation. In an ROV (reconsideration of value) recently sent to me, the addresses sent to review in an attempt to support the contract price were 2 sales from 2018. There were plenty of comps in the PUD subdivision in 2019/20 as a reference.
  4. Pay attention to sales in your segmented market and subdivision, NOT sales in the entire zip code. Neighborhoods may trend slightly different and while the zip code provides an overview of the market, it may not apply to subject’s neighborhood.  Just because a similar size SFR sold 2 miles away at xxxx, does not mean the same size unit in subject’s subdivision will sell at same price.  There may be different market influences in place influencing price.

With spring just around the corner, it will be interesting to see how the winter market evolves into spring. I am sure we’ll get an influx of positive spring numbers but the above can’t be overlooked. There are definitely some underlying changes happening in the market as a whole.

Bryan Lynch
Certified Real Estate Appraiser
Office: 530-878-1688
Bryanclynch@gmail.com
Roseville Office : Auburn Office
http://www.AdvantageAppraisalsCa.com

Disclaimer: All information deemed reliable but not
guaranteed. The information is meant entirely for educational purposes
and casual reading only and is NOT intended for any other use.  This
information is NOT intended to support an opinion of value for your
appraisal needs or any sort of value conclusion for a loan, litigation,
tax appeal or other potential real estate or non real estate purpose.
This appraiser is NOT a qualified home inspector and any tips are for
informative purposes only. If you’d like to obtain and order an
appraisal for your specific needs, please contact Bryan at 530-878-1688 for more information.

Bryan Lynch | February 25, 2020 at 8:32

Here’s to a happy, healthy March…We’ll See You Next Month ☺