Sacramento, CA Real Estate News

By Gena Riede, Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
(Riede Real Estate, Lic. 01310792)
"Is the bubble busting?" "Has it burst?" "Why haven't I sold my home?" These are typical questions sellers ask these days. Not to worry. Everyone keeps talking about this bubble and referring back to the 1990's. There is a swarm of evidence that proves, WE ARE NOT LIKE THE 1990's. In 1990 the interest rate was between 18%-19% interest and today we are below 7%...BIG DIFFERENCE. In the 1990's we were in an economic recession where there was a loss of jobs...today unemployment figures are low. So, you say...then what is the problem. Ok, I will give you my worth.We had a frenzied market for several years and many buyers ended up not being able to afford homes. In order for what I call the "adjustment", prices had to drop. This doesn't mean that the bubble has burst; it just means that ther...
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