Sacramento Real Estate Views

Archive for February, 2009

Active Listing Watch

Homes For Sale Declines Slightly in Sacramento and Placer Counties

I was surprised to see that the amount of active listings in the Sacramento and Placer County areas decline over the last 30 days.  I think that most local industry people here believed that there would be an influx of new listings by now.  I believe it’s still there, just not on the market yet for whatever reason.

I read an interesting article from CNBC this week that shed a little light on why this may be happening.   Other than the foreclosure moratorium that has been extended, the article cites that 70% of foreclosures haven’t hit the market yet and that most of these homes are standing vacant.  I have noticed a very high percentage of vacant homes in the neighborhoods I’ve been working in.

There may be several reasons for this but it’s more prevalent than it has been, there are more of them out there.  Could it be that the banks are deferring losses on assets until it’s convenient for them to do so as the article suggests?  That would not be good for our communities at all.

More Value Declines Coming

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Tags: rocklin roseville homes for sale, sacramento homes for sale