The foreclosure limbo game in Sacramento

I’m reminded of limbo when thinking about distressed sales in Sacramento County. Both short sales and foreclosures used to absolutely dominate the market several years ago, but nowadays they just keep going lower and lower and lower (like limbo). Let’s digest some market trends together below.

Short sales and foreclosures in Sacramento County - by Sacramento Appraisal Blog

Bank-owned sales used to represent over 70% of the market five years ago, but now they are only 4.7% of all sales in Sacramento. That is an amazing shift, don’t you think? Short sales have also seen a rapid decline as they have decreased by nearly 19% over the past 12 months so they now only make up 15.3% of all sales.

Short sales and foreclosures in Sacramento County - by Sacramento Real Estate Appraiser

It still sounds alarming to think that 1 in 5 sales in Sacramento County is either a foreclosure or short sale, but this is a significant improvement from five years ago when 84% of all sales were distressed (in the entire county). This is a good reminder that change takes time.

Share the Trends: Feel free to share the graph and chart above in your newsletter or on your blog, Facebook or any other social place. The only thing I ask is you keep the images intact and link back to my blog. See my sharing policy for more information. Enjoy.

Question: I’ve been seeing quite a few short sales sell VERY low. What are you seeing out there?

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