The Governator’s former stomping grounds offer a case study in the hazards of overbuilding. California witnessed a building boom at the beginning of the last decade, and the financing of those homes along with subprime ARMs (many of which reset and were foreclosed at the same time) combined to create one of the nation’s most affordable environments for home buying. Unfortunately, the bust of the construction industry and the downsizing of California’s state government has left Sacramento with a whopping 12.3 percent unemployment rate.
Median Sales Price: $129,000
Property Address: 1221 Carter Road, Sacramento, Calif.
Bedrooms: 5 | Bathrooms: 5 | Square Footage: 6,291
List Price: $2,175,000
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