Short Sales in Pittsburg California 94565

Short Sales in Pittsburg California 94565

Short Sales in Pittsburg California 94565 are becoming the dominate part of the market.  There are 98 Short Sale Homes on the Market in Pittsburg California 94565 which is half of the active market.

Only 7 Short Sale Homes closed escrow in Pittsburg California 94565 in November and 19 Short Sale Homes closed escrow in December.

The sales pick up is encouraging and I have seen this in other areas in December, even thought that is a traditionally slow month.  What concerns me is that there are currently 155 Pending Short Sale Homes in Pittsburg California 94565.  These means that at this rate it could take 8 months to close that entire pending; assuming they were to all close.   

What I find interesting is the asking price for Short Sale Homes is actually higher on an average cost per SF Basis ($113.00) than the average SF cost of all the homes on the market ($111.00).  This may because many Short Sale homes are actually in really good shape compared to the rest of the market in Pittsburg California 94513. 

However, the actual Sales Price on Short Sale Homes is less on average based on SF.  In November Short Sales in Pittsburg California 94565 sold for $91.00 per SF on average while the overall average was $110.00.  In December Short Sales Sold for $104.00 per SF and the overall average per SF was $116.00.

I suspect an issue with the Short Sales is the prices need to be lowered in order to keep buyers interested as most buyers do not like the wait.  However, with the prices coming in lower on the Short Sales it takes even longer to get approval from the banks, only making the problems worse.

As a Buyer or a Seller of a Short Sale Home there are two important things you can do.  Make sure your Realtor has his/her SFR Designation (Short Sale and Foreclosure Resource) and request these Free Booklets on Selling and Buying a Short Sale Home.

I am a Realtor with an SFR Designation.  If you need assistance with real estate in Pittsburg California 94565 or beyond Contact Me Now!