Sacramento Real Estate Views

Your Questions Answered!

“What Percentage Of The Market Is Short Sales?”

As most full time, active Realtors do, I get questions from my clients all the time.  If you’ve been following my blog at all, you know that I look at all aspects of the market to try to accurately assess what direction this “bus’’ is headed.  While seemingly an impossible task, it’s fun!  Not that I’m always right but I enjoy writing about our market.

It’s been said that 2010 is the “Year of the Short Sale”.  I’m willing to bet that’s NO WHERE on any Chinese calendar but it does seem that short sales will be happening in record numbers this year.

Especially considering the government has just come out with a new program, HAFA, that will incentivize banks for working with the homeowner to get them through a short sale rather than foreclose.

This is a good move as it’s clear to everyone the banks have absolutely no interest in a serious loan modification program but short sales save them money in the short run.  Occupied homes are better taken care of than a vacant home.

As of this writing, short sales represent just over 30% of the available homes for sale in the Sacramento, Placer and El Dorado county area.  REO’s, also known as bank owned homes, represents just about 17% of the available homes for sale and regular real estate represents just over 52% of available homes for sale.

Being that such a high percentage of home owners are underwater in our region, and nationally for that matter, it surprised me that there such a high percentage of regular real estate homes available.

Looking for a Realtor to help you with a short sale?  Just fill out the information form below and we’ll get back to you promptly.  Our team handles many short sales every month with success.  We can help you too.

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This entry was posted on Friday, April 9th, 2010 at 6:04 am and is filed under Your Questions Answered!. 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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