Positive statistics for the Sacramento region
Due to its larger neighbors of San Francisco and Los Angeles to the west and south, respectively, Sacramento tends to stay out of the real estate spotlight. Potential buyers looking at homes for sale in Sacramento are often surprised by the discount property listings and agreeable neighborhoods of the greater metro area. The first half of 2012 has resulted in improving housing statistics, and some of the success may be attributable to the following factors.
Decreasing distressed home sales
According to the Sacramento Business Journal, short sales and other distressed sales made up 61 percent of single-family home closings in April 2012, which was down from 67 percent April 2011. This incredible year-over-year decrease is occurring across the state, but Sacramento has experienced some of the highest rates of decline.
Why is this a good thing? Because buyers traditionally claim foreclosed homes at a fraction of their true value, they often think higher asking prices lead to a loss of funds. However, it is important to consider short- versus long-term value. Higher prices mean that property values are going up, and in the future, a resale or rental agreement will result in more money.
"The tight inventory we’ve been experiencing in the distressed market over the past several months is now spreading to equity properties, essentially affecting the supply conditions of both the distressed and non-distressed markets," said real estate association president LeFrancis Arnold, according to the news source.
Renewable energy projects
The Wall Street Journal reported that North American solar project developer Recurrent Energy recently revealed the completion of three solar photovoltaic projects in Sacramento County. The technology is fully operational, and currently delivers 50 megawatts of electricity to the Sacramento Municipal Utility District.
"The completion of these projects is the culmination of strong renewable energy policy and the dedicated work of all the teams involved," said Recurrent Energy CEO Arno Harris, according to the news source. "The projects demonstrate our expertise in developing flexible utility-scale solutions in a short period of time, and help us achieve the end goal of a clean energy future."
If you are looking to save money on bills with renewable energy, or are simply trying to live in a greener neighborhood, Sacramento is a great choice. Sustainable energy projects may continue to be developed in the area as the national economy improves.