Santa Maria Valley Foreclosure Statistic February 2008

Like much of the county, including California, foreclosed(REO) properties continues to affect the housing market,  Market dynamics continues as more REO's enter the market and affect both home prices and sales.   Based on numbers from sorted by Assessor's Parcel Numbers shows a sharp increase in sold REO properties from the same time last year. 

For example, in January 2007, sales produced 2 REO sales; in January 2008 REO sales increased 37.  February 2007 sales produced 2 REO sales; February 2008 sales were 53.  The percentage from January 2008 to February 2008 REO sales, a 43% increase in REO sales in one month.  Sales trends of REO sales will most likely grow as adjustable loans adjust this year and high inventories continue to place downward pressure on home prices.    

 REO sales compared to total sales in Santa Maria Valley

• Jan 2007    2    to    71
• Feb 2007    2    to    84
• Mar 2007    3    to   91
• Apr 2007     5    to   90
• May 2007   10   to 100
• June 2007  10  to 109
• July  2007  16 to  82
• Aug 2007   22  to 96
• Sep 2007   28   to 80
• Oct 2007  18  to 70
• Nov 2007  31 to 71
• Dec 2007   33  to 87
• Jan 2008  37  to 61
• Feb 2008  53 to 95

Would you like a free email with foreclosure or short sale properties?  Email me a request at cesarbautista@kw.com including your name, area of interest, type of home, price range, and your telphone(optional) and I'll email you properties information within 24 hours.   

It is a buyers market and I can help you find home.