Rocklin Home Prices are UP UP UP - Rocklin Agent Allan Sanchez 
After years of decreasing home prices, Rocklin is on its way up! 2012 proved to be the real estate turn-around homeowners and sellers have been waiting for. Take a look at the year-over-year home prices in Rocklin. From December 2011 to December 2012, prices rose almost 20%. The average home price of a home sold in Rocklin in Decemeber 2012 was $338K! There are now more equity sales in Rocklin than distressed sales.
It's very interesting why we're seeing Rocklin home prices rise. The main reason is there is very low inventory of homes on the market. Buyers are coming to open houses in droves and driving prices up. As a Rocklin real estate agent, I'm getting multiple offers on every property I list and sellers are able to pick from several good offers.
The inventory of homes on the market is largly being controlled by the banks. There are fewer REOs/bank foreclosures every day. Banks really do not want to foreclose because it's a very long, expensive process for them. I'm only seeing foreclosures happen in the bleakest of circumstances: death of the homeowner, abandonment of the property without initiating a short sale, or not communicating with the bank or paying the mortgage for a very long time. Still, there are many people who owe more on their homes than they are worth and must sell. For these people, banks encourage short sales.
Rocklin short sales will still be a big part of the real estate market in 2013. For homeowners who bought or refinanced their home at the peak of the market, current home prices are still very far away. For those who can no longer afford their payment or must move, selling as a short sale often makes the most sense.
Let me know if you have a question about Rocklin home prices or short sales! Find out how to hire a Rocklin Real Estate Agent.
Rocklin Home Prices are UP UP UP - Rocklin Agent Allan Sanchez
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