Buying Property in Auburn

What? Buying real estate in this market?>#@! Of course!! Just made an offer today. Why? Prices have come down from their previous high for sure, so we are in a more realistic market with more supportable values. Many buyers are sitting on the fence waiting for prices to come down. As they are doing this, the reasonably priced homes are getting snapped up within days by other more savvy buyers. Too much attention to the media and too many ‘friend of a friend of a friend supposedly in the real estate business’ giving their expert opinions, has completely confused a major portion of the consumers who would otherwise buy property. People also forget that many of the high prices that were ‘posted’ at the height of the frenzy last year were merely some sellers fishing for a buyer who might pay an exorbitant price for their home, and not based on any market comparables. A good buy is a good buy in any market, or in other words if the value is there, it’s a good investment. Another factor in this market is the fact that many sellers actually over extended themselves either in buying too much home or racking up too much consumer debt, or both, so some sellers are actually desperate and will sell under the market price. Bargain properties are available, even though the general public may not believe it.

As a long time resident of Auburn also, I believe it is a great place to invest for a variety of reasons. One reason is the location-2 hours from San Francisco, 1 hour from Lake Tahoe and on route 80 which is a major freeway. There also are many outdoor recreational activities in Auburn, such as beautiful & extensive hiking trails, river rafting, etc. There are major employers nearby such as HP, Intel, Oracle, Coherent, Hospitals such as Kaiser and Sutter, and major shopping areas also. Auburn still retains it’s small town atmosphere, so it’s the best of both worlds. The rental market is good also since prices tend to be more here, than in the surrounding areas because of the desirability of Auburn. Land is less available also which keeps values up. People who can’t afford to buy here will rent instead. The movie ‘Phenomenom’ with John Travolta was filmed in old town Auburn, at the Shanghai Bar (the name of the bar was changed in the movie). Another movie was filmed at the Foresthill Bridge, over 700 feet high over the American River.