Sacramento Real Estate Views

Total Number of Homes for Sales Continues to Rise

Percentage of Short Sales Increasing

The total number of single family homes for sale is continuing to increase for the 8th month in a row.

There are, as of this writing, 7883 home on the market in the 3 county area of Placer, Sacramento and El Dorado.

Getting short sales approved has become easier and many more people are choosing to sell their distressed home short in the Sacramento, Rocklin and Roseville real estate markets.

The increase in the total number of homes for sale is bound to get worse as we enter the slower selling fall months.

Homes just aren’t selling as fast and as the number of available homes for sale continues to climb, values must be affected adversely, again.  Simple supply and demand.

Short Sales By City

The percentage of homes in short sale has increased.  Currently, short sales in occupy 30% of the homes for sale in the 3 county area.

Individual cities in Placer county have much higher percentages.

In this report, Rocklin leads the pack at 39% of the available homes for sale being  in short sale.  Next is Lincoln and Sacramento at 35%, Roseville at 33% and Granite Bay at 14%.

I think timing is at play in Rocklin with the bulk of new construction being completed in the 2001 to 2003 time frame when the market was going up very fast.

The point here is that more and more homeowners in distress are choosing the short sale route as it is much easier process than it used to be and the credit ramifications, especially for purchase money loans, are less severe.

Are you considering selling your home short?  For more information on short sales, click here.  Additionally, if you’d like a no obligation, confidential consultation, please fill out the form below and we’ll be in contact with you promptly.

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Tags: granite bay, Lincoln, Rocklin, Roseville, sacramento, short sale

This entry was posted on Friday, August 6th, 2010 at 8:40 pm and is filed under Short Sale Information. 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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