The Sacramento region ranked No. 5 in Fortune magazine’s list of the nation’s 10 worst real markets for 2009. Sacramento-area home values, which fell to a median of $225,140 in 2008, are projected to drop by 22.2 percent in 2009 and climb just 2.3 percent in 2010, according to the magazine.
Prices here have already plummeted. In Sacramento County, the median home price fell to $185,000 in November, a 36 percent drop from a year ago, according to MDA Dataquick. Stockton ranked No. 2 on Fortune’s list, with a …

The Citizen Hotel from Joie de Vivre introduces Sacramento’s first downtown luxury boutique hotel in a completely restored 1920s era high-rise located two blocks from the State Capitol. Opened Nov. 30.

It’s not good out there people. Sacramento county median home price dropped to $195,000. It have not been bellow $200,000 since April 2002. The reverse breakthrough – back to $195,000 – came exactly one year after the county’s median sales price for new and existing homes combined fell below $300,000, according to MDA DataQuick statistics released Thursday. The median is that point at which half cost more and half cost less.

 
Sacramento County supervisors today approved on a 3-2 vote a 56-foot long, red fiberglass rabbit for Sacramento International Airport’s planned new terminal building. The rabbit would soar across the terminal’s four-story atrium hall towards baggage claim below, where waits a sculpted stone suitcase with a swirling liquid vortex on its surface. The artist is Lawrence Argent, an art professor at the University of Denver.
Arts leaders and artists called it a great addition to the local art scene, a piece that will put Sacramento and its airport on the map.  The …

Twin Soup is reporting that Lucky Strike is coming to Sacramento.   Looking at their menu they are no normal bowling alley. They even have a dress code. Cool!

Sacramento is planning for 15,000 homes north of its downtown, most of them on the site of a former railyard.  The homes, condominiums and townhouses will be built in anticipation of future housing needs. Area planners project that continued high gas prices will discourage people from living in distant suburbs, where they will face long commutes.
The abandoned railyard is north of the state capital and main downtown business district. It is bordered by Interstate 5, the American River and the city’s Amtrak station.  The 24-acre site would have some 12,000 …

The Sacramento County Airport System has established a new Web site, www.bigbuild.org, to provide information on the new Central Terminal B construction project at Sacramento International Airport.
The site includes the latest news, links to contractors, employment opportunities with the project, architectural renderings and a fly-through video of the new terminal.
As construction continues on the project, referred to as The Big Build, the site will be updated with information on road construction, parking lots, airline moves and other details that may affect passengers.
The new terminal, scheduled to open in early 2012, …

Rep. Laura Richardson, best known in recent months for her very public defaults on several homes she owns in California, is getting back her Sacramento house.     The broker who bought Rep. Laura Richardson’s Sacramento house at a foreclosure auction two months ago has dropped his lawsuit against her and her bank, allowing Richardson to reclaim the home.
In a statement, Richardson’s lender, Washington Mutual, said the litigation had been “resolved,” but that the terms are confidential.  The broker, James York, also declined to discuss the matter.  “I’m not supposed to say …

There will be a meeting to discuss the long-proposed connector-expressway linking Interstate 5, Highway 99 and Highway 50.  The meeting will be on Aug 19th at 6:30 p.m. The location will be the City Council chambers in Elk Grove City Hall, 8400 Laguna Palms Way.
The meeting, sponsored by the Elk Grove Community Connection, will be co-hosted by EG Vice Mayor Patrick Hume and Sacramento County Supervisor Don Nottoli. It is expected to draw residents from throughout the area, along with Sacramento and El Dorado county supervisors and council members from …

In this economy I doubt we will see this project anytime soon but it is interesting.  At some point Rancho Cordova may actually see a highrise building.  The project called Point East Towers is designed by prominent local architect Ed Kado and consists of two 30-story towers, totaling 485 residential units. The groundbreaking design includes a recreational floor with luxury amenities and a ground floor designed to attract top retailers.  Click here to see a photo.