October 11, 2012
Placer County Trustee’s Sales (Roseville, CA)
Placer County Trustees Sales
Buying Foreclosed Properties On The Courthouse Steps
The top two phrases that come to mind when it comes to real estate are:
- Location, location, location.
- Real estate is local.
So forget what is being reported on the nationwide (or even statewide) level when it comes to what’s going on in the housing market, because that probably won’t give you accurate view of what’s going on in your own community, town or city. Your local REALTOR is more equipped to provide specific information on the current real estate market conditions in your city, zip code, subdivision or neighborhood.
Since we specialize in helping investors purchase properties at Placer County Trustee’s Sales, I’ve decided to focus on the properties that were sold to 3rd parties at trustee’s sales in Roseville, CA. Read on if you’re interested in finding out which direction the housing market roller coaster has been going for trustee’s sales in Roseville, California.
HOUSING MARKET ROLLER COASTER TIMELINE
Quarterly Report (September 2011 – September 2012)
September 2011
- 21 properties sold to 3rd at trustee’s sales
- Average $113.85 per sq. ft.
December 2011
- 21 properties sold to 3rd at trustee’s sales
- Average $105.25 per sq. ft.
March 2012
- 20 properties sold to 3rd at trustee’s sales
- Average $116.47 per sq. ft.
June 2012
- 16 properties sold to 3rd at trustee’s sales
- Average $129.17 per sq. ft.
September 2012
- 18 properties sold to 3rd parties at trustee’s sales
- Average $119.47 per sq. ft.
According to the data compiled above (from ForeclosureRadar), the price per square foot for properties in Roseville, CA that were sold to 3rd parties during the last year bottomed out in December 2011 ($105.25/sq. ft.) and peaked in June 2012 ($129.17/sq. ft.) This could be the typical seasonal adjustment with less competition in winter and higher bidding in summer, so I also gathered data for the months of September, going back to 2008.
Annual Report (September 2008 – September 2012)
September 2008
- 14 properties sold to 3rd parties at trustee’s sales
- Average $123.30 per sq. ft.
September 2009
- 19 properties sold to 3rd parties at trustee’s sales
- Average $110.56 per sq. ft.
September 2010
- 17 properties sold to 3rd parties at trustee’s sales
- Average $109.12 per sq. ft.
September 2011
- 21 properties sold to 3rd parties at trustee’s sales
- Average $113.85 per sq. ft.
September 2012
- 18 properties sold to 3rd parties at trustee’s sales
- Average $119.47 per sq. ft.
Looking at properties in Roseville, CA that were sold to 3rd parties at trustee’s sales during the month of September from 2008 to 2012, the price per square foot bottomed out in 2010 ($109.12/sq. ft.) from its peak in 2008 ($123.30/sq. ft.) However, the price per square foot has been steadily increasing to $113.85/sq. ft. in 2011 and $119.47/sq. ft. in 2012.
The decrease in numbers of foreclosure notices combined with the increasing number of investors bidding on Roseville, CA properties will likely cause the price per square foot to increase in 2013. With the ever-present competition among cash investors for investment property in Roseville, CA (both for auction properties and MLS-listed properties), this will undoubtedly add to the slow upward motion I believe Roseville, CA is headed on the housing market roller coaster.
THE BOTTOM LINE
The housing market roller coaster ride has been pretty steady when it comes to sold to 3rd auction properties in Roseville, CA with only slight peaks and valleys. It’s still a good time to invest and you can still achieve double-digit cap rates on investment property in Roseville, CA and the surrounding areas.