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El Dorado Hills REO (Bank owned) Properties - November 2011 Market Report

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Real Estate Agent with Lyon Real Estate - El Dorado Hills CA DRE# 01499004

El Dorado Hills REO (Bank owned) Properties - November 2011 Market Report

It's been five years since the first REO (bank owned) listing hit the El Dorado Hills Real Estate Market - October 2006.  Though the inventory has never been a big percentage as far as our overall listings they comprised a big percentage of our sales for much of that time.  In October of 2008, REOs were 12.2% of our total listings and 44.6% of our total sales.  October of 2011 statistics, show they were 10.3% of our total listings and 17.8% of our total sales. 

REOs (bank owned) listings in El Dorado Hills last month sold for $40 per square foot less than Regular Sales and $6 per square foot less than Short Sales making them a great deal for the most part.  Because they are priced so well, they also tend to sell very close to list price and sometimes even over the list price. 

Following are two charts showing REO activity in the El Dorado Hills Market.  The first from Trendgraphix shows the listings verses the sales for the past 5 years since their emergence in our market.  And the second shows you the comparison of REOs to Short Sales and Regular Sales. 

Chart showing El Dorado Hills REO homes for sale and sold for the past 5 years.


Chart showing Oct 08 El Dorado Hills Home listings vs Oct 11 Home listings.

As you can see in this chart, our proportion of REOs in comparison to total market share has stayed basically the same.  We keep hearing that there are many more foreclosures out there in the shadows but for now they are fairly steady in El Dorado Hills and a great deal if you happen to get one!

If you are considering purchasing an El Dorado Hills REO property, it is really important to have your Realtor pull comparables for you on that property.  Listings that are under priced will often times have multiple offers.  If you are considering purchasing a REO property, let's talk!


More El Dorado Hills Market Reports

El Dorado Hills Market Report - November 2011

El Dorado Hills Short Sales Market Report and History


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I am a REALTOR® in El Dorado Hills with Lyon Real Estate. Though living in El Dorado Hills is my passion, I am happy to help you with your real estate needs throughout the Sacramento Valley. For more information on me or our wonderful area visit my website at www.DeeDeeRiley.com or email me at driley@golyon.com.

 

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By DeeDee Riley 2011 *All Rights Reserved*El Dorado Hills REO (Bank owned) Properties - November 2011 Market Report

Comments (6)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

El Dorado Hills REO (Bank owned) Properties - November 2011 Market Report

Dee Dee Riley is El Dorado Hills real estate expert.  Contact Dee Dee for all your El Dorado Hills California real estate needs.

Nov 28, 2011 04:56 PM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

DeeDee - Another great market update on REO's in your area.  I like how you broke your information down on a per-square foot basis.  What a great way to show what a deal an REO is over a short sale or standard listing and how you can't afford to wait on those listings if you want to buy one.  Nicely done.

Nov 28, 2011 08:08 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Laura,

 

I'm not as maticulous as Dee Dee man MAAN! She done did good lol.

 

Dee Dee,

Your skills are pretty good! I also like the default photo you have! Such a wonderful smiling face :D <--- pun intended. Hahaha!

Nov 28, 2011 10:17 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

DeeDee, great information for buyers and sellers to now what distressed inventory is out there.   

Nov 29, 2011 10:51 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is excellent information for anyonce considering purchasing an El Dorado REO, DeeDee.

Nov 29, 2011 04:07 PM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

Hi Deedee. This is a very comprehensive market report that will be very helpful to buyers and sellers. Thanks for sharing this.

Nov 29, 2011 04:41 PM