SHORT SALES indicate banks not working with AGENTS

Total # of Residentail properties listed in the city of Tracy: 951
Total # of SHORT SALES(pre-forclosure homes) on the market in Tracy: 177 (93 last month )
PENDING SHORT SALES: 5 or 2.8%
SOLD SHORT SALES (in the past six months): 8

Total # of vacant homes for sale in Tracy is 389..
Total # of Residential REO's(bank owned) for sale in the city of Tracy: 183 (2x last month)

# of REO's sold (closed) over past 6 months: 31
PENDING REO SALES: 18
Bank-owned(foreclosed homes on the MLS) have a 19% market share of available properties, 37% if you include short sales, not to mention that 40% of the homes for sale in Tracy are vacant. We have seen a huge increase in the amount of short sales(pre-foreclosures) on the market.


Modified mortgages: Lenders talking, then balking
Congress, banking regulators and President Bush all are promoting a potential way for subprime borrowers to avert foreclosure. Called loan modification or loan workout, it means changing a mortgage's terms to make the payments more affordable
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/09/13/MNJ8S1FKC.DTL&hw=loan+mod&sn=001&sc=1000