As compared to the rest of Sacramento, the number of foreclosure homes in 95818 is tiny. In October, we had 557 bank-owned homes for sale in Sacramento. The bank-owned pending sales numbered 674, and 689 bank-owned homes closed escrow. That's almost an 80% drop in inventory over the past 15 months. If you're looking for a foreclosure in Sacramento, better get in line behind the other 20 buyers who are competing for the same home.
The number of foreclosure homes in Land Park and Curtis Park pale in comparison. That lack of inventory could be due to the fact that some homes in Land Park never reach the foreclosure stage because they might be sold as a short sale long before the trustee's sale date rolls around.
Fortunately, as a Land Park agent and resident, I don't see very many sellers here with under-water homes. That's because our neighborhood was not hit as hard as the rest of Sacramento. Our values have been relatively stable in Land Park and Curtis Park.
As you can see from the chart below, which covers the past 15 months of foreclosure activity in Land Park and Curtis Park (95818), we had 4 bank-owned homes for sale in October, no pending bank-owned sales and two sold as bank-owned homes.
Image: Trendgraphix, used with permission
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