Home : Blogs : Rosemary Brooks -Mother & Daughter (866)-750-8282 : Mother & Daughter Blog

Bank Owned vs. Short Sales vs. Regular Sales

Taking a look at the MLS listings using a small sample of 80 homes and comparing the Bank Owned vs. the Short Sales vs. the Regular sales. Here is what I found for Stockton, Modesto and Sacrament, California

Here is what I found from 80 single family listings in Stockton, CA:

49 are Bank Owned listings
23 are Short Sale listings
8 are regular listings

Here is what I found from 80 single family listings in Modesto, CA:

25 are Bank Owned listings
19 are Short Sale listings
35 are regular listings

Here is what I found from 80 single family listings in Sacramento, CA:

47 are Bank Owned listings
27 are Short Sale listings
8 are Regular listings

Just looking at this small comparison: I'd say people are getting their homes taken from them instead of getting them sold through the short sale process. This tally is from one area of each of the cities, so you can just imagine how the neighborhoods are looking with all the foreclosed homes. The good thing about short sale listings is that the property is usually occupied until after closing. Most all the bank owned homes are vacant, which invites vandalism and that UN"kept" look. With so many homes foreclosed on, the values of the other homes are falling just from what it is doing to the neighborhood. Lenders are still not catching on or trying to help the homeowners with short sales.

When should a homeowner start their short sale? It is best to begin a short sale when the homeowner realizes they can no longer afford the mortgage, so that the property can be marketed properly and they can receive a high offer.

What are your neighborhoods looking like?

Need a Short Sale Specialist?

For a FREE MARKET EVALUATION of your home Call us or visit http://www.motheranddaughterrealty.com/

Check out: Real Estate Terms/Definitions. And take a look at Mother and Daughter Blog for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Perfect Financial Solutions and we also focus in Short Sales and the Pre-Foreclosure process. Our consultations are free. Our aggressive marketing plan includes on-listing advertising. If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas. If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

Check us out on website: http://www.motheranddaughterrealty.com

Rosemary Brooks

Patrick Williams & Associates

Mother and Daughter Realty Team

PH: 866-543-0461

FAX: 866-815-1649

EMAIL: info@motheranddaughterrealtyteam.net

WEBSITE: www.motheranddaughterrealtyteam.com

Posted by Rosemary Brooks -Mother & Daughter (866)-750-8282 on 01/26/2008 09:08 PM

Comments (8)

bank owned, short sale, listings, foreclosure, stockton, modesto, sacramento, rosemary brooks

Originally posted at: Mother & Daughter Blog: Bank Owned vs. Short Sales vs. Regular Sales

This post has been included in California Information San Joaquin County, CA Information

8 Comments on Bank Owned vs. Short Sales vs. Regular Sales

JAN

2008

Good review and you need to be on top of your market which is forever changing. Better times ahead I hope

E Jeffrey ~ so true. Things are changing at a rapid pace and I want to be ready for the up swing!

JAN

2008

There are numerous short sales hitting the market and the banks are taking a long time to respond. Buyers are not willing to wait. Lengthy and time consuming process for both the agents and the buyers in most cases.

Matthew ~ this is the main problem and then they just might not approve the sale. This is where the stress overweigh the patience. Sometimes it helps to explain clearly to the buyer, seller and sometimes the other agent that it does require patience with the lender. This is a big decision and it does take that time to go through their process.

That is pretty much all you can do. And pray~

Rosemary great research. I hope that you were able to follow up on that news story we talked about. It was called, 'The House of Cards'. I am going to keep up with your post on the Stockton area. We can all learn from each others.

Take care,

Warmest regards