Short sales and foreclosed properties are requested by buyers for most cities and Livermore is no different. Several years ago, they comprised between 60 and 70% of the market. The perception is that they are a better value, so buyers continue to ask about them specifically.
The graph below illustrates the percentage of total units sold in the distressed properties category as of June 30, is 44%.
Of the active listings currently on the market in Livermore, 26% are either short sales or bank foreclosures.
Foreclosures are readied for market far differently than in the beginning of the downtown, many close to move-in ready.
Inventories in Livermore have dropped dramatically, and with simple supply and demand, short sales and foreclosed properties are receiving multiple offers, often driving pricing up to that of regular sales. With the market moving at a much faster rate, we'll probably see a more balance between regular sales and distressed sales as buyers will have less bargaining power with short sales and foreclosed properties that they might once have had.
Find active listings for foreclosures and short sales in Livermore. (Scroll down to the bottom of the page to see the listings).
Comments(2)