Placer County was just named to the No. 43 ranking among the nation’s 100 wealthiest suburbs, according to a report released this week by Bizjournals, the sister company of the Sacramento Business Journal.  El Dorado County was No. 44.  Bizjournals created a nine part formula to determine the relative affluence of 291 suburban counties, seeking the places with the highest incomes, most expensive houses, lowest poverty levels, strongest educational backgrounds, and the most extensive ownership of stocks, rental properties and vehicles.  Placer County had per-capita income of $35,014 per year, while El Dorado County’s per capita income was $32,122. 

Placer and El Dorado counties are the wealthiest Sacramento area communities and in fact are the only ones that made the top 100.  There were four other Northern California counties in the top 30, all in the SF Bay Area.  The top 10 were led by New Jersey with three and Virginia and Maryland with two each.

Steve Siegel, Coldwell Banker
Email: steve.siegel@cbnorcal.com
mobile: 916.212.5066
www.teamstevehomes.com
Visit our Complimentary Sacramento Area MLS Search

We’ve all become accustomed to seeing what seems like almost daily real estate articles filled with news about declining housing values.  As 2007 comes to an end anyone who owns a home is longing for something better.  Although most local experts agree that it is too early to be talking about a recovery, there may be at least some hope for anxious homeowners.

For if history has anything to teach us, it’s that real estate recoveries usually come pretty fast once they start.  Consider 1997 across much of the Sacramento region.  After years of military base closings, a recession and loss of jobs, homeowners across the region started to see their home values start to climb again.   Even before the tremendous "boom" that occured from 2001-2005, prices steadily increased from 1997-2001 as well; 62% in Placer County, 53% in El Dorado County, and 51% in Sacramento County.

No one is predicting that we will ever see another boom in values like we did in 2001-2005.  But as the slump goes on, it helps the nerves to understand that the economy–and real estate–is a cycle of ups and downs.  There are many who say that the excess of rising prices and easy lending practices and standards make these unchartered waters.  But if history is a guide say the experts, this too will pass!  It isn’t easy, but homeowners should remind themselves that, fundamentally, Real Estate has always been a sound long-term investment and should continue to be so in the future.

Steve Siegel, Coldwell Banker
Email: steve.siegel@cbnorcal.com
mobile: 916.212.5066
www.teamstevehomes.com
Visit our Complimentary Sacramento Area MLS Search