Ryan Lundquist

Pretty cool to be in the New York Times today. It’s a piece about tech companies, and I shared some thoughts about tech home flipping. nytimes.com/2023/01/23/tec…

I had so much fun in Reno this weekend. So grateful for a getaway to recharge. Went to a concert, magic show, and a skate park this morning. This is me figuring out how to do it all again. Leaning into life in 2026. That’s the theme.

@jillayne Yes. So much fun. We had great seats also. Makes such a difference.

@SacAppraiser I approve! See all the concerts 😀life is short!

One of the things I’m doing this year is leaning into going to concerts with my wife and friends. We saw Switchfoot, Lit, and Fuel last night in Reno. Such a fun show. My friend got the set list from two of the bands and a Lit pick. These will look cool in my man cave.

Disappointing to see.

@GoLikeHell_ They certainly play a role in setting the price, but they don’t make the market go up or go down. If they could keep prices higher, 2007 wouldn’t have happened. And prices have softened this past year. There’s something bigger than agents.

@SacAppraiser Absolutely disagree. They help set prices to move homes. Higher the price, higher the commission. Look at the NAR lawsuit, that was caused by realtors trying to ensure commissions. Realtors are at the top of the food chain for causing home valuation issues

A reminder for my real estate friends. Stay focused. Be yourself. Have a plan. Work the plan. Run toward the challenge of this market. Don’t obsess over prices and rates. Find the people who have incentive to participate in today’s market. Bottom line.

@GoLikeHell_ I get it, but real estate agents aren’t the gatekeepers to value.

@SacAppraiser My advice would be to lower the prices of the homes and be the first, after that it's going to be a race to the bottom.

@MatthewCarrell Exactly.

@SacAppraiser It's quite literally the ONLY thing you can control. Love it.

@ThatJonKorn Yeah, most homes at this price point do sell below the original list price. I find the highest prices locally are the most overpriced in general.

@SacAppraiser If it's in Sacramento and it's over $2M, it's overpriced, and you can expect it to sell under asking.

Different vibes in the Bay Area and Sacramento. Properties in the Bay Area are often priced strategically low. More on my blog. What stands out to you here?

@GregBalzer That diminishes demand, which could help soften prices. One of the big factors here is seller behavior though also. If sellers start backing off due to uncertainty, that could keep things tighter.

@SacAppraiser Think rising rates are going to increase price pressure?

Let's look to multiple price metrics to try to understand the market. Here are various sources I watch every month. I think we can generally say prices are down about 2% from one year ago in the Sacramento region. Look to the comps most of all though.

@shawngorham Lots of bang for the buck.

Baker bought us In N Out today Keith takes Baker to $45 cheeseburgers - we had lunch for 3 under $30 - I think I need to make friends with Keith rather than Baker

@GMillerMortgage Haha

@SacAppraiser I need to hear it from her or at least AI

I’ve been married for 26 years as of today. Pretty cool.

@MatthewCarrell Pricing low is such a vibe there.

@SacAppraiser Sacramento market has a better understanding of value than does the Bay area market.

@GMillerMortgage Congratulations. That is so awesome. Pretty sure my wife still likes me.

@SacAppraiser What does your wife have to say? We will be 40 in August

It’s a good reminder that the housing market is not the same in every location. More visuals in my weekly post. sacramentoappraisalblog.com

@vodenti @ReleveRE Yeah, hard to get big change right now. It feels like it's on the radar though. People have noticed for sure.

@ReleveRE @SacAppraiser I don't think we'll see any significant behavior changes until $8/gal or so.

Some gas prices spotted earlier today in the Sacramento area. This is important to watch along with the price of other things. For the housing market, we want to keep a close eye on seller and buyer behavior.

@conorsen @opinion New homes volume has been rebounding lately in Sacramento. The last few months have outpaced last year at the same time. I'm not ready to say we'll be up from here on out, but a little bit of momentum lately. Fat concessions, some lower prices, & less supply in resale lately.

[@opinion] My housing friends may think I'm early, but I think the outlook for homebuilders has shifted from 🔴to 🟡 this year -- resale inventory is stabilizing, costs are coming down, and they've made a big enough dent on affordability that the worst feels behind us: bloomberg.com/opinion/articl…