How is the Rancho Cordova real estate market doing compared to the rest of Sacramento county? What is the percentage of foreclosure sales (REO), short sales and total amount of distressed property sales (REO + Short Sales)? Let’s take a look below to glean some insight.
The information above is based on all residential sales listed in Sacramento Metrolist over the past two years. Overall, the percentage of bank-owned sales dropped by 5% in both Rancho Cordova and Sacramento County, while at the same time the percentage of Short Sales rose by 7% in both Rancho Cordova and Sacramento County. Over the past two years Rancho Cordova had a 7% lower foreclosure rate than Sacramento County and a 2% higher percentage of short sales.
Let me know if you have any questions at ryan@lundquistcompany.com or 916-595-3735 and feel free to comment below.
www.SacramentoAppraisalBlog.com Foreclosure and Short Sales Figures in Rancho Cordova Compared to Sacramento County
I’ve heard so much about the high foreclosure rate in Rancho that I assumed it was much higher than the County-wide statistics. By the information you are providing here, that doesn’t seem to be the case. I’m glad to know this. Having said that, we certainly want to see short sale figures drop but for the time being, it is best to be properly informed and for that I thank you! All the best to you.
Thanks Hector. You are right that the percentage of short sales going up looks to be a good thing for the market. It’s not ideal, but we need to deal with inventory and help repair the market. Good luck to you.