California Housing Market Report & Predictions 2021
Covid 19, fiscal crisis, drought, inflation, heatwave, forest fires and more cooled the California housing market a little, but year over year increases are still very high. In fact, home prices hit an all-time high in southern California. That does show a lot of resilience.
Given the economic situation, one wonders what it would take for home prices to seriously recede so they are affordable. The drought is affecting California’s agricultural and manufacturing sector which requires water in big amounts. Manufacturing in CA actually uses 40% of available freshwater. This can affect new business development in the state as well as decide whether companies might want to head to greener pastures. However, the drought has hit the entire western region of the US. READ MORE
Ralene Nelson, REALTOR®
PENDING – 1001 Linda Vista Way, Rio Vista
4 bed 3 bath 2,265 sqft
Gorgeous home, don’t miss the opportunity to call it your home. Some updating includes tile floors, granite kitchen counters, newer appliances. You walk into a living room with vaulted ceilings and grand stairs leading to the four bedrooms. Home has a full bath on main floor, very convenient when working or entertaining in the stunning backyard. Family room & kitchen makes it great for entertaining the Large fully landscaped backyard. Master bedroom is larger than most overlooking the gardens, with a roomy master bath, double sinks, oval tub & walk in stall shower. His & Her closet has custom built in organizers. Three more bedrooms down the hall with a full bath, and don’t miss the craft room. The unusual shaped lot provides room for your RV and Boat/jet skis. The automatic sprinklers allows the homeowner time to enjoy the sporting activities the delta/Sacramento river provides. READ MORE
PENDING – 739 Kelly Way, Rio Vista, 3 bed 2 bath 1,617 sqft
Don’t miss this great home, fully landscaped with automatic sprinklers front & back with French drain installed in back yard, draining to front. New grass with patio & awning. Home was replumbed both hot/cold water, with tankless hot water heater & all new lighting interior & exterior. Kitchen has painted cabinets with tile counters, larger sink & tile floors. Baths have granite counters & tile floors. Garage partly converted to bedroom with outside entrance. Den with new glass doors. Expanded driveway with concrete completely around house, with car charger for any car. Just bring the family & furniture. READ MORE
FOR SALE – Delta Diamond Farm Estate & Event Center
15175 Hwy 160, Isleton, 25.1 ac
Asking $3,250,000 – Delta Diamond Farms is a very unique property, built in the late 1880s, fully renovated by currents owners in 2005. 4 story, 3850 sqft Victorian home, the potential for 5 beds, 3.5 baths, located on 25.1 acres, currently operating as a wedding event compound & family/corp. events, & is permitted. Expansive lawn area & beautifully landscaped courtyard with 3 self-contained cottages. Barn (8000 sqft) & metal workshop constructed in late 1880’s, renovated with concrete perimeter foundation/slab floor, & full loft. 50’s Replica Gas Station remodeled as operational restrooms. New 2300 sqft 6 carriage house w/half bath. 4200 sqft metal building set up for catering, (refrigerators, freezer, ice machine, table/chair/linen storage w/industrial washer/dryer. 3200 sqft metal newer building, equipped with workshop, office, bedroom & full bathroom w/shower. Property has 2 wells (domestic/agricultural) w/riparian rights from Sacramento River. River access with 60 ft custom dock & waterfront observation deck. READ MORE
Real Estate News
Mortgage interest rates forecast and trends:
Will rates go down in September 2021?
Low mortgage rates look like they’re here to stay for the time being.
The August jobs report, which came out Friday, was far weaker than anticipated. This goes to show the Delta variant is taking a bigger toll on the economy than some expected.
That means mortgage rates should continue in the sub-3% range for at least a while longer.
Experts Predict Where Mortgage Rates Are Heading Next
Homeowners and eager buyers have embraced low mortgage rates, as is evident in strong refinance and purchase activity in the past year’s hyper-competitive housing market.
One unexpected impact from the pandemic was the way it pushed down mortgage rates at the beginning of 2020. The average rate on a 30-year mortgage fell to a record low in March 2020 — and kept falling. Last July, rates crossed below 3% for the first time. By January 2021, they bottomed at 2.65% and have hovered around 3% since. READ MORE
Things To Do This Weekend
Chalk It Up! Chalk Art and Music Festival
Sat, Sep 4, 10 AM – Mon, Sep 6, 6 PM
Since 1991, the Chalk It Up! Festival has been delivering fantastic family fun and has become one of the longest-running and most popular festivals in the Sacramento region. In recent years (prior to 2020), its three-day Chalk It Up! Festival has amassed crowds of over 60,000 people who come to enjoy the hundreds of sidewalk chalk art masterpieces, live music, vendors, and more. Last year, for its 30th Anniversary they updated the Chalk It Up! Festival to include “Chalk It Up! Around Town!” READ MORE
International Kids Festival
Saturday, September 4th ~ 10am – 4pm
Looking for a fun way to spend the day with your kids in Sacramento? Join the International Kids Festival and enjoy free pony rides, jumbo inflatables, rock climbing wall, miniature train rides, trampolines, face painting and more all at NO COST! Try some amazing food from a parade of local food trucks while you watch spectacular stage entertainment by professional dancers, gymnasts, and athletes. Don’t miss free fun for the entire family!
155th Scottish Highland Gathering and Games
Sat, Sep 4, 8 AM – 6 PM, Sun, Sep 5, 8 AM – 6 PM
The 155th Scottish Highland Gathering and Games is an outdoor-only event featuring Scottish country and Irish dancing, Celtic heritage stages, folk singers, heavy athletics, gathering of the clans, highland dancing, living history, piping and drumming, opening & closing ceremonies, Scottish vendors and whisky tasting.
Tickets are available online only.
Knights Ferry Music Festival
Saturday at 10:30 AM – 10:00PM
Knights Ferry Music Festival, Sept 4th at the 50s Roadhouse in Historic Knights Ferry.
7 bands, on the green, Food, Vendors! Gates open at 10:30am,
Music starts at 11:00. BUY TICKETS
50’s Road House
18341 Kennedy Road
Knights Ferry, CA 95361