Sacramento shoppers take advantage of the early morning Black Friday sales at the major retailers, including Kohl's the day after Thanksgiving on Friday, November 27, 2009.
A foreclosed house in the Meadowview area of Sacramento sports a "bank owned" sign. A new law is intended to slow down foreclosures.
A sign directs visitors to model homes in West Sacramento on Thursday, July 8, 2010. Sales of new houses across the Sacramento area fell to a new modern low in the second quarter of 2010, as only 485 buyers committed to sales contracts. Folsom building industry consultant Greg Paquin says sales fell off rather sharply in May and June after the deadline passed to qualify for $8,000 federal tax credits for first-time home buyers. Paquin and others say many would-be buyers still fear job losses or wage cuts, and are content to wait out an environment in which prices aren't rising. The phenomenon has sent new-home construction to "abnormally low" levels to meet demand for new household formation in the region, said Paquin.
Construction is under way on new homes in one West Sacramento neighborhood. Builders of new homes compete with discounted distress-sale properties, which account for two-thirds of transactions in Sacramento County, according to La Jolla research firm MDA DataQuick.
California Department of Real Estate License Number: 01190713