Ford , president at consulting firm California Builder Services , is involved in a condominium project in Davis and says anyone in the trades is flourishing — he knows welders making $ 300,000 a year . Plus , builders are bulk-ordering supplies — say , 100 air conditioners at a time — which is pushing up warehouse lease rates , he says . Realtor Collom says since the pandemic hit , his firm has gone from four to five staff members in one office to 18 in two .
Plus , it ’ s still possible to land a house without cutthroat combat . John Clark and his wife , Jacqueline White , both in their late 30s , had an offer accepted in July 2021 in East Sacramento on their second bid . It ’ s in a good neighborhood but needed a little work , so it wasn ’ t perfect for people who wanted a place that was completely movein ready , Clark says . They offered $ 20,000 over asking but got half of that back in negotiations over repairs .
There might also be a little help on the way in the form of new residential building . In 2020 , more than 11,000 new building permits were issued on residential units in the Sacramento-Roseville-Folsom metro area — the most in any year since before the 2008 recession . That reflects new developments that are going up — like Folsom Ranch , set to add about 11,000 homes over 25 to 30 years , and Lagoon Valley , a master-planned “ conservation community ” outside Vacaville that broke ground in June 2021 and will add about 200 to 225 homes a year through 2026 or 2027 , according to developers . And in August 2021 , the Greater Sacramento Economic Council announced it ’ s launching the Community Reinvestment Coalition comprised of five community banks to make $ 100 million in financing available to address the area ’ s affordable housing crisis . For all that , there ’ s little guarantee prices will stabilize anytime soon . Renee Edwards and her husband got to switch places when they put their own house on the market in May 2021 — a three-bedroom , two-bath on a good-sized lot on an arterial street in Carmichael . They listed
the Thursday before Memorial Day weekend and went to Disneyland . A stampede followed : Stumpf , their Realtor , set up appointments to show it every half hour from 8 a . m . to 7 p . m . for three and a half days . “ We probably had a hundred showings ,” she says . “ It was insane .”
When the Edwards family came home Tuesday , they had 13 offers and sold for $ 71,000 over asking to a Bay Area buyer .
“ If I did have advice , it would just be that it does pan out the way that it ’ s supposed to — when a house finally does come , it ’ s the one that ’ s meant to be yours ,” says Edwards — counsel that her friends were offering when she and her husband were having no luck . “ Of course , I didn ’ t like to hear that when we were looking .”
Steven Yoder writes about business , real estate and criminal justice . His work has appeared in The Fiscal Times , Salon , The American Prospect and elsewhere . Online at www . stevenyoder . net and on Twitter @ syodertweets .
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February 2022 | comstocksmag . com 47