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Buzz Word of The Year in Sacramento Real Estate
Last Year it was “R-E-O”
With all the moratoriums (I didn’t know how to spell “moratorium” until recently 
) on foreclosures both in the state of California and nationwide, the amount of foreclosed homes has increased but not many of them are coming on the market. Most of the REO/Bank Owned listing specialists inventories have been dramatically impacted by the banks holding onto homes rather than putting them up for sale.
Why?
In most areas of Sacramento, vacant but unlisted homes are everywhere. Some streets more than others and some cities of the region more than others but they are there. Why are the banks keeping these homes off the market? Where is the flood of homes coming up for sale that will further depress the values in the Sacramento real estate market?
What would happen if they did put these homes on the market this year? It wouldn’t be pretty, this much I know.
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