When Will a New Wave of Foreclosures Hit the Sacramento Region?

Inspections up to June 5 2009 063If you have been following real estate trends in the Greater Sacramento Region, you have probably noticed that overall there have been fewer foreclosure listings over the past few months and therefore an increased demand for bank-owned properties (resulting in multiple offers and many times offers over asking price). Banks have been holding on to some of their distressed inventory and not releasing these properties on the market. Well, it looks like a moratorium for 90 days may go into effect today per CBS 13 in Sacramento. All of us in the real estate industry have expected a wave of foreclosures to hit the market for many months now, but it looks like that won’t happen for at least another 90 days. Investors, clients and agents have been telling me that this wave would come in March, but then the buzz was June, and then July, and maybe now September. We shall see. What do you think of this?

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