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Archive for the ‘Trendgraphix’ Category


Open Escrows Jump 38% in Sacramento Area Real Estate

Monday, April 21st, 2014

Lyon Real Estate reports that new open escrows during the month of March jumped 38% and closed sales 25% in Greater Sacramento. These numbers are compared to February 2014 and left a mere 1.6 months of inventory based upon the current rate of pending sales according to data provided by TrendGraphix.Sacramento Real Estate News

The median price also experienced a renewed, upward trend after almost nine full months of toggling within the $270,000 and 280,000 ranges. February finished with a median of $290,000 and March $300,000. “This represents the first time the Sacramento Area median has hit $300,000 since December of 2007 and mirrors the healthy and pre-boom $299,000 posted 10 years ago in March 2004” stated Pat Shea, President of Lyon Real Estate.

When carving out the $350,000 to $750,000 range, or move-up market, March numbers proved remarkably strong with a 37.8% increase in new open sales and 30.3% jump in closed units. “Less than 2 months of active inventory and mortgage interest rates under 5% percent, will keep this a fiercely competitive price range through summer” says Shea.

An incredible 99 new sales were posted for March in the $750,000 and above price point. “The 70 unit mark barely crested twice in 2013 and monthly sales numbers in the 90s haven’t been seen since 2007” according to Shea. He adds that “People both inside and outside of our region are flocking to exceptional home and land values in the upper end.”

“It’s hard to believe that Sacramento still retains extraordinary opportunities and value in all price points considering the speed, strength and duration of our market recovery” said Shea. “People can still purchase homes and expect to see appreciation in a very short period of time when compared to traditional market metrics. They still ask me though, should I buy now? My answer remains the same, I would.”

Article courtesy of Trendgraphix, Inc. and Lyon Real Estate ‘News Release’ published on April 14, 2014.

VITEK Mortgage Group
Local: (916) 486-6900
Toll Free: (800) 570-5300
clientservicesdivision@teamvitek.com



Sacramento Area Real Estate New Sales Back On The Rise

Friday, March 14th, 2014

The greater Sacramento area’s spring selling season has officially arrived according to data provided by TrendGraphix and reported by Lyon Real Estate.Sacramento Real Estate News

New pending sales in February (2,270) represented a 19 percent jump over the previous month. This exciting news for home sellers follows the 39 percent increase already enjoyed in January 2014 as compared to December of 2013. The number of new pending sales in February 2014 also marks the highest number of new sales in any given month since August of 2013.

Inventory of 4,077 homes remains at pre-July 2013 levels and 18 percent below the most recent peak reached in October 2013. The current rate of pending sales mapped to the number of available homes, left a meager 1.8 months of inventory on the books. These sales and inventory figures also mirror early summer 2013 postings.

The move-up market, considered by many experts to be from $350,000 to $750,000 range, remains exceptionally strong with 29 percent more sales logged than the same three months last year. This price range was also left with a mere 2.2 months of remaining inventory.

But wait there’s more. Sixty-seven sales were posted for February 2014 in the $750,000 and above price point, with those upper-end sales practically 60 percent higher than an unusually strong December 2013. This price point also proved sustainability by logging a 42 percent increase compared to the same quarter in 2013.

“Not long ago, our agents were still selling empty, bank-owned homes or short selling home owners to become renters,” said President and Chief Operating Officer Pat Shea of Lyon Real Estate. “Now we are experiencing a complete shift to a predominately move-up market. Inventory will continue to arrive and then sell swiftly. Buyers are using other assets or bridge loans to secure their new home first and then list their current residence. Others are adjusting to temporary housing in effort to facilitate the sell first and then find their dream home.”

Content courtesy of Trendgraphix, Inc. Published March 13, 2014

VITEK Mortgage Group
Local: (916) 486-6900
Toll Free: (800) 570-5300
clientservicesdivision@teamvitek.com



Sacramento Area Real Estate Open Escrows Jump 39%

Thursday, February 13th, 2014

New pending sales jumped 39 percent in January when compared to December of 2013 in the greater Sacramento resale housing market according to data provided by TrendGraphix and reported by Lyon Real Estate.Sacramento Home Values

The 2,106 posted contracts were a mere 7 percent below those logged in the red hot January market of last year. Even though resale inventory is 60 percent higher than one year ago, months of inventory based upon the current rate of pending sales retreated back to 1.9.

The move-up market, considered by many experts to be from $350,000 to $750,000 range, exhibited exceptional momentum as well by posting a 55 percent increase in sales over December numbers and 33 percent more than the same quarter one year ago.

Upper-end sales, specifically $750,000 and above, have averaged a notable 43 sales over the past three months. That pace is extraordinary for the winter period and demonstrates a 38 percent improvement of the three months ending January 2013.

“The resale market is enjoying a period of sensible stability,” said President and Chief Operating Officer Pat Shea of Lyon Real Estate. “First time and move-up buyers continue to capitalize on extremely favorable financing opportunities as key economic dials move slowly and rates remain low. They now enjoy a golden opportunity with a greater number and variety of potential homes to choose from.”

Content courtesy of Trendgraphix, Inc. Published February 13, 2014

VITEK Mortgage Group
Local: (916) 486-6900
Toll Free: (800) 570-5300
clientservicesdivision@teamvitek.com



Stability Becomes The Norm In Sacramento Area Real Estate

Thursday, January 16th, 2014

The greater Sacramento resale housing market exhibited traditional seasonal behavior in the month of December 2013 according to data provided by TrendGraphix and reported by Lyon Real Estate.Elk Grove Home Values

Listing inventory and pending sales dropped 12 percent and 14 percent respectively, while closed sales finished 5 percent higher than the month of November 2013.

Months of inventory still remain in a “seller’s market” range with 1.7 months available below $350,000, 2.4 months in the $350,000 to $750,000 range and 8.1 months above $750,000. These figures are based upon the rate of closed sales.

New construction projects and inventory remain very low and experienced approximately 2,500 closed homes in each of the past two years. Similar numbers are expected in 2014 even though historical data indicates the region averaged between 8,000 and 10,000 new construction sales between the years of 1998 to 2007. The ramp up time required for builders to meet anticipated demand should continue to favor resale sellers in the coming year.

“The four county region has clearly settled into a period of stability with the median closed sales price toggling between $280,000 and $285,000 for the past six months,” said President and Chief Operating Officer Pat Shea of Lyon Real Estate. “Placer and El Dorado Counties have leveled out in the $355,000 to $360,000 range. The city of Davis continues to drive Yolo County as the median sales price hovers near $500,000.”

Buyers and sellers alike appear to be acclimating to a more relaxed market with inventory and interest rates slowly starting to climb.

“Although the protracted sense of urgency has subsided, an environment to buy and sell under favorable conditions still remains very strong for 2014,” said Shea. “Sellers are encouraged, however, to price and condition their properties competitively if they want to enjoy optimum results.”

Content courtesy of Trendgraphix, Inc. Published January 14, 2014

VITEK Mortgage Group
Local: (916) 486-6900
Toll Free: (800) 570-5300
clientservicesdivision@teamvitek.com



Resale Inventory Drops to Lowest Level in 3 Months

Tuesday, December 10th, 2013

With 4,433 active and available listings, November 30 marked the lowest level in inventory since early August, according to data provided by TrendGraphix and reported by Lyon Real Estate. Also of note – 2,132 new pending sales for the month, demonstrating sustained market momentum for Sacramento, Placer, Yolo and El Dorado Counties. These metrics combined indicate that greater Sacramento housing remains vibrant with only 2.1 months of resale housing inventory.Elk Grove Home Values

The median sales price ended November at $280,000, 27 percent higher than one year ago. The average sales price of $321,000 also finished the month 27 percent over the November 2012 mark. Entry-level housing, considered below $300,000 by many professionals, remains red hot with only 1.6 months of available homes based upon pending sales data.

Buyers in the $350,000 to $750,000 price range placed 875 homes into escrow over the past three months. That number represents a 42 percent increase in pending sales when compared to the same quarter one year ago. The $750,000 and higher price point recorded its second straight month of 50 new pending sales compared to a mere 29 posted in November of 2012. All of these figures validate a continued confidence in all price points throughout the region.

Placer County enjoyed a $4.725 million dollar sale in Granite Bay, which was the most expensive home sale in the county in four years. Davis remains a very tight market ending November with a median price of $507,000 and an incredibly low 1.8 months of inventory for all price points. El Dorado County continues to see strong pending sales at 204 for the month considering their $350,000 median price pushed 24 percent higher than November 2012.

“Considering the market run has continued for the better part of two years, month-to-month and even quarter-to-quarter comparisons don’t always tell the complete story” said President and Chief Operating Officer Pat Shea of Lyon Real Estate. “The bottom line is that real estate is hyper local and our entire region continues to see a high volume of enthusiastic buyers in all price points who are new to home ownership, re-entering after a prior distress sale or moving up to their dream home.”

Content courtesy of Trendgraphix, Inc. Published December 9, 2013

VITEK Mortgage Group
Local: (916) 486-6900
Toll Free: (800) 570-5300
clientservicesdivision@teamvitek.com