You're probably not seeing this phenomenon yet in the real estate stats for Sacramento, but I'm telling ya that short sales are declining and equity sales are rising, and you can take that to the bank. I analyzed MLS a few days ago to see how many short sales were available and there were fewer than 10% of all the homes for sale in Sacramento. But I am also spotting it in my own real estate business.
I'm talking with sellers, looking at the comps, thinking that yes, they could do a short sale, but there might be a way to sell with equity. Other agents give me a hard time about it, but I am selling homes that might have been considered a short sale by another agent as an equity sale when sold by this Sacramento real estate agent.
Read more in my personal blog today about Rising Home Prices in Sacramento Knock Out Short Sales.