Hide Transcript Show Transcript

BUYERS TO PURCHASE HERE. GULSTAN: KCRA 3’S MAX RESNIK HAS THE NUMBERS. REPORTER: BLUE SKIES AND SUN, FLOWERS IN BLOOM, SIGNS OF A CHANGE IN THE WEATHER. IT TURNS OUT, THESE CHANGES INDICATE SOMETHING ELSE, TOO. >> AS THE WEATHER GETS BETTER, THE SUN STARTS SHINING. MORE PEOPLE START PUTTING THEIR HOMES FOR SALE AND HERE WE ARE IN THE MIDDLE OF MARCH. THIS IS A TIME WHERE WE TRADITIONALLY SEE INVENTORY START TO PICK BACK UP. REPORTER: IN FACT, REALTOR SCOTT OSTRODE EXPLAINS, THE NUMBER OF HOMES AVAILABLE FOR SALE IN SACRAMENTO COUNTY IS ON THE RISE. >> YOU THINK ABOUT WHERE WE SIT TODAY COMPARED TO A YEAR AGO, THERE’S ACTUALLY 12% MORE HOMES FOR SALE NOW. REPORTER: THOSE STATISTICS MAY BE WELCOMED BY BUYERS READY TO MAKE A DOWN PAYMENT, BUT THERE ARE OTHER, MORE CONCERNING STATISTICS PERTAINING TO SACRAMENTO’S HOUSING MARKET, ACCORDING TO BANK RATE.COM. THE SITE RELEASED A STUDY TODAY LISTING THE CAPITAL CITY AS THIRD WORST FOR FIRST-TIME HOME BUYERS. A GROUP WITH LIMITED CASH, TRYING TO BUY HOUSES THAT DON’T STAY ON THE MARKET LONG, THAT ARE EXPENSIVE AND OF COURSE, THERE’S THE SHORTAGE. >> THE REALITY IS WE DO NEED MORE HOMES TO SELL. REPORTER: THAT FACTOR REITERATED BY THE NORTH STATE BUILDING INDUSTRY ASSOCIATION >> WE HAVE ONLY BEEN BUILDING ABOUT 55% OF WHAT WE ACTUALLY NEED IN THE REGION. MICHAEL STRECH IS THE GROUP’S PRESIDENT AND CEO. HE SAYS REGULATIONS, FEES AND REQUIREMENTS FOR NEW BUILDS MAKE ONE FACTOR. >> THE OTHER THING THAT I THINK IS HAVING A HUGE IMPACT IS OUR LABOR CONSTRAINTS. WE JUST SIMPLY DON’T HAVE ENOUGH PEOPLE TO BUILD HOMES. REPORTER: IF YOU’VE BEEN UNABLE TO REACH THIS POINT, THE BEST ADVICE IS TO CLARIFY YOUR NEEDS AND STAY FLEXIBLE. >> WHAT ARE THE THINGS THAT YOU HAVE TO HAVE? IS IT THE COMMUTE? IS IT A BEDROOM COUNT? IS IT A SCHOOL DISTRICT? AND THEN HAVE FLEXIBILITY WITHIN THOSE GENERAL CRITERIA FOR WHERE YOU CAN MAXIMIZE YOUR MONEY. REPORTER: SCOTT’S MESSAGE, DON’T GIVE UP HOPE EVEN WHEN THE MARKET FEELS LIKE IT’S NOT WORKING IN YOUR FAVOR. IN SACRAMENTO, MAX RESNIK, KCRA 3

Advertisement Sacramento third worst city for first-time homebuyers, study says Share Shares Copy Link Copy

A new study from Bankrate.com ranks Sacramento as the third worst city for first-time homebuyers in 2019.Bankrate.com looked at affordability, culture, job market, market tightness and safety for its study.The study said San Francisco, Los Angeles, Sacramento, San Jose and Seattle are the worst five cities for first-time homebuyers.High home prices and tight inventories make those cities challenging for buyers, the study said.Data showed the national median home price is $294,800. The median listing in price in the bottom five cities was 1.5 to 3 times higher."Really figure out the things that you have to have in your home -- not that you want to have, not the luxuries, but what are the things that you have to have? Is it the commute? Is it a bedroom count? Is it a school district?" asked realtor Scott Ostrode. "And then have flexibility within those general criteria for where you can maximize your money. That house that maybe is that 10 out of 10 house that hits every core that you want, it’s probably not going to be available, but the thing that hits 7 out of 10, that’s your 100 percent house."Year to year, availability in Sacramento County's housing has actually grown, Ostrode said. Figures from Trendgraphix show a 12 percent increase in homes for sale from February 2018 to February 2019.The best metro areas for first-time home-buyers were Pittsburgh, Raleigh, Oklahoma City, Hartford and St. Louis.ADVICE FROM REALTORS Sacramento ranked near the bottom of the list in four of the five categories examined. It ranked 44th in affordability, 40th in culture, 47th in job market and 42nd in market tightness. Sacramento’s highest mark came in safety, where it ranked 16th.| MORE | Poll: 43% of Californians can't afford to live in Golden State"Don't give up hope," Ostrode said. "There are choices in the market today for you, and there will continue to be choices for you down the road."A Sacramento-area realtor has three pieces of advice for first-time buyers:Be flexibleIdentify your needs instead of your wants Don't give up hopeHOUSING SHORTAGE IN CALIFORNIAThe California’s housing shortage isn’t helping to ease home-buyers’ concerns -- nor is the state's lost of home builders. “We have only been building about 55 percent of what we actually need in the region,” said Michael Strech, president and CEO of the North State Building Industry Association. Strech said a couple of factors make home building difficult in California. | MORE | California's housing crisis could imperil gas tax funds“In California, we tend to have a very highly regulated environment, and there’s constant layering of new fees and new requirements on new homes,” Strech said. “The other thing that I think is having a huge impact is our labor constraints. We just simply don’t have enough people to build homes. We’ve been hearing a lot about it, and it’s very real. We’re responding to that by working with schools and getting people into the industry, but it takes a while.”Strech said the association applauds Gov. Gavin Newsom’s approach to building more homes across the state, which includes about $2 billion in incentives for cities to create affordable housing plans. Newsom wants 3.5 million new housing units in the next six years.