Do you believe it? Nearly 21% of all of the foreclosures in the county for the third quarter of this year are in California. Those two words: California and foreclosure go hand-in-hand. You can't pick up a newspaper or turn on the news without seeing those headlines. We're not the land of milk and honey anymore. We're the land of foreclosures.
Equally ubiquitous is Sacramento and short sale. It's one of the reasons that HGTV producers from Pietown came to town a while back to film a Sacramento House Hunters show about short sales. I spent 3 days filming in Natomas.
Our Sacramento suburbs are brimming with short sales. Lincoln, too. Few years ago, I had never even been to Lincoln. Now, it's not unusual for me to sell a short sale in Lincoln.
You know what teachers might start using for math equations in grade school? Assuming a 90-day publication period in the public records, plus 20 days in a newspaper of general circulation, if the Notice of Default was recorded on June 1, on what day would a foreclosure go to auction? If you owe $500,000 on your home, but the market value is $200,000, how far upside down are you?
As a Sacramento short sale agent, I deal with short sales day in and day out. Hey, I just ran a quick check on Trendgraphix. Ending the third quarter, stats show 5,721 homes for sale in Sacramento. Of those, nearly 35% or 2,001 active listings are short sales, and that doesn't count the pending short sales or active contingent short sales. A year ago, we had half of that number in short sale status in MLS. Short sales are everywhere you look.
Just like Betty White. You can't turn on TV without finding Betty White on some show. It's no longer a case of WWJD, you know. I'm getting one of those bracelets that say WWBW. Betty White is sweet, smart, sexy and funny. And that damn woman is 88 years old. I hate her. No, really, who could possibly hate Betty White? God, I hope I grow up to be just like her.
Except I probably won't. I'm not sweet enough.
What do you think? Maybe she's not really that sweet, either.
Photo: Big Stock Photo
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