Sacramento Real Estate Views

Foreclosure Activity Decreases 4%

California Foreclosure Rate Decreases

While the foreclosure rate has dropped in the state as a whole, the foreclosure numbers are still up 23% over May 2008 and California is second only to Nevada in foreclosure filings nationwide.  Bright spot?  If you want to call it that.

There isn’t a day that goes by where I don’t pinch myself and ask “is this really happening?”  There is absolutely no way I would have ever thought it would get this bad on one hand and this good on another.

With every bad there must be a good, right?  You’ve got to look hard but it’s out there.  For me, even though it’s my business, it’s tough to see.

Values Are Outstanding

There are plenty of great values in the Sacramento real estate market right now.  If there weren’t, we’d have far fewer multiple offer situations.

Buying, either as a primary residence or investment, seems as if it’s a “can’t miss” proposition.  Values are bound to go back up in the short term.  You know, maybe, just maybe, as no one expected it would get this bad, our rebound will be better than anyone expects.  Is that possible?  Of course it is.  I’m focusing on that. (dreamer? maybe!)

Cities With 100 Foreclosures or More in May

Here is a list of the cities in Sacramento County with 100 foreclosures or more in May:

Sacramento – 2546 – Elk Grove – 763

Citrus Heights – 277 – Rancho Cordova – 212

Antelope – 171 – Folsom – 129

North Highlands – 127 – Galt – 120

Carmichael – 101 – Orangevale – 78

“Shadow Inventory”

Two months ago, it was said that by June we’d be seeing dramatic increases in the amount of homes for sale in our region.  So far, this hasn’t happened.  This means simply that the inventory is still out there but when it will come on the market, will it come on the market all at once or in a graduated fashion is still up for debate.  We are in a wait and see mode at the moment.

Thinking about buying or selling a home in the greater Sacramento or Placer Counties area?  Give us a call, we can help you get the job done quickly, effectively and for the most money possible.

Thanks for visiting!

Related posts:

1. Foreclosure Cancellations Continue To Rise

Tags: foreclosures sacramento

This entry was posted on Friday, June 19th, 2009 at 7:28 am and is filed under Sacramento Foreclosure Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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