Bank-owned (REOs) and Short Sales Lead Sacramento's Market

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Real Estate Agent with RE/MAX Gold DRE #00697006

Here are a few charts from Trendgraphix that I thought you would find interesting. It shows the amount of homes on the market, the number of pending and the closed sales as of October 2008. The big chart directly below is the non-REOs for sale in Sacramento county, and you can see how the inventory is falling as more sellers remove their homes from the market:

Non reos in Sacramento

The charts below show the tri-county region of REOs and bank-owned homes on the left versus non-reos on the right. You can easily see where the interest is in today's market. But it doesn't mean that the non-reos aren't a good deal because many sellers are pricing their homes to compete with REOs and short sales. It's definitely a good time to be a buyer in Sacramento.

reos in sacramento

If you are interested in pursuing a bank-owned home or a short sale, please feel free to call or email me. I have my own inventory of short sale listings and provide expert negotiation for buyers of foreclosures and short sales.

Elizabeth Weintraub Land Park Real Estate Agent in Sacramento

Photo: Trendgraphix

The Short Sale, by Elizabeth Weintraub, coming from Archer Ellison in January 2009.

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Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Tags:
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585,107
C Tann-Starr
Tann Starr & Associates, Inc. - Palm Bay, FL

Good morning Elizabeth. Thank you for sharing these market statistics with us. Enjoy your day. Love, C.

Nov 19, 2008 01:24 AM #1
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Looks like inventory overall is going down which is a good thing.

Nov 19, 2008 01:56 PM #2
Rainmaker
2,579,059
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Those foreclosure/bank-owned figures are astounding, aren't they Elizabeth!

Nov 19, 2008 02:31 PM #3
Rainmaker
2,190,136
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Thanks for stopping by, C, Terry and Myrl. The nice thing about the inventory declining is it leaves the serious sellers who are competing with the foreclosures. Hmmm . . . should a buyer buy a turnkey home from an owner or a home in need of repair from an REO when both homes are priced the same? No brainer.

Elizabeth Weintraub Land Park Real Estate Agent in Sacramento

Nov 21, 2008 12:09 PM #4
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