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