People are Moving from Bay Area to Sacramento


#1

Jed Setzer is a Redfin agent who was born and raised in Sacramento. He says his Bay Area-based clients, especially those with children, are also looking at neighboring Davis, largely for its excellent schools.

“Most of my Bay Area relocation clientele are families,” he says, adding that Bay Area transplants make up almost half of his Davis home searchers. “They are usually looking for a more affordable purchase price, single-family residences with a yard, overall community accessibility—particularly bike-able—and most importantly, school districts.”

Blackwell adds that Elk Grove, just south of Sacramento proper, is also hugely popular due to its schools. He recently helped a San Jose transplant buy a home in the heated market there. The client was engaged with an infant daughter, Blackwell said, and the whole family was living at the client’s parents’ house because, even though he works in biotech, he could not afford anything in the area.

“He was pre-qualified for $475,000,” Blackwell reveals. “Out here that can get you almost anything, but in San Jose, forget about it.”


#2

A Chinese family we know are moving from Sacramento to Davis because of schools. No wonder Davis is so expensive. Million-dallar houses are pretty common there.


#3

The trend to move to Sacramento has been going on for 40 years…There was just a temporary haitus in 2006-2012…due to the subprime meltdown…I bought in Sacramento in 1999…best return on investment I have ever made…Started buying in the Sacramento MSA (Tahoe ) again in 2013…a little late but the returns and rent increases have been fantastic. .


#4

Come on, half of them even want to live in a different part of town…what does that say???


#5

Do you think people in Redwood City would rather live in Palo Alto? Most people probably want to trade up a neighborhood or two.


#6

#7

This is the SacBee article:

This rings true to me:

Those of us who haven’t bought homes will have no choice but to move to Fresno – or Texas, which is pretty much the same thing.

:smiley:


#8

Now that got me thinking. After we get HSR from Fresno up and running, people don’t need to move to Texas no more. They can move to Fresno and still work in the Bay Area! Perfect!


#9

Sacramento is more attractive than Fresno for sure (I need to start looking into this area more). I wonder what percentage of Sacramento residents actually commute to the bay area for work. My suspicion is not many. Reading the opinon piece it seems SF-Sac is becoming more and more like west LA and the rest of LA county…


#10

I bought in Sacramento in 1999. We are waiting for you…


#11

I am still waiting to see how Sac Town does in the next downturn. In the past, Sac Town got hammered.


#12

Sacramento has grown up. Sure Fresno is a shithole…
But Sacramento is the same size MSA as the BA 50 years ago… A legitimate metro area nationallly ranked and destined to part of a 15m person mega city


#13

#14

Our 2 bedrooms in South Sac are now $1050…were $750 for 20 years…


#15

Gosh, I remember when rental signs in Sac would advertise that the first month was free with annual sign-up…


#16

When rent stays flat at $750 for 20 years, should the landlords go to the street and protest against below inflation rent increase? Because tenants are protesting against rising rent :grin:


#17

Fortunately rent control looks why it won’t happen in Sacramento. But with rents going up 50% in the last 5 years it could happen. Even in Sacramento can’t build fast enough. My units are worth $80k each. New construction would cost $300/unit. I have no competition. Rents are going up nationwide. High cost of construction, min wage going up, rent control, EPA, zoning, nimbyies,


#18

The problem is that folks everywhere will see what Rent Control City A has and will then want it too if there is enough demand for it. I am still hoping that the SCOTUS will eventually review this once it (rent control) becomes so common that one can’t help but see that owners are being taken advantage of.


#19

Come on, Gavin, get with the program!!!


#20

Why bother. She would rather be measuring drapes at the White House. Gavin will be spending the next two years in Iowa and New Hampshire. A shit show with 29 other wannabes ala the Republicans in 2014-16