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Area Home Prices Rising

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(Sacramento, CA)
Thursday, April 8, 2010
Clear Capital’s Alex Villacorta attributes the rise to strong demand from investors.

“Under normal market conditions you’ll have a healthy balance of first-time home buyers and investor buyers. Certainly to have investors dominating the market is a little unusual. But now it seems to be a common place and at this point any buying activity is welcome.” 

Almost four-in-ten homes sold in the Sacramento area last month were bank-owned foreclosures.

Villacorta says the $10,000 homebuyer tax credit that Governor Schwarzenegger recently-signed could help spur new home sales. But he says it could also encourage homebuilders to release additional inventory into an already saturated market. 
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