Bank Owned vs. Short Sales vs. Regular Sales

Taking a look at the MLS listings using a small sample of 80 homes and comparing the Bank Owned vs. the Short Sales vs. the Regular sales.  Here is what I found for Stockton, Modesto and Sacrament, California

Here is what I found from 80 single family listings in Stockton, CA:

• 49 are Bank Owned listings
• 23 are Short Sale listings
•  8 are regular listings

 Here is what I found from 80 single family listings in Modesto, CA:

• 25 are Bank Owned listings
• 19 are Short Sale listings
• 35 are regular listings

Here is what I found from 80 single family listings in Sacramento, CA:

• 47 are Bank Owned listings
• 27 are Short Sale listings
•  8 are Regular listings

Just looking at this small comparison:  I'd say people are getting their homes taken from them instead of getting them sold through the short sale process.  This tally is from one area of each of the cities, so you can just imagine how the neighborhoods are looking with all the foreclosed homes.  The good thing about short sale listings is that the property is usually occupied until after closing.  Most all the bank owned homes are vacant, which invites vandalism and that UN"kept" look.   With so many homes foreclosed on, the values of the other homes are falling just from what it is doing to the neighborhood.  Lenders are still not catching on or trying to help the homeowners with short sales. 

When should a homeowner start their short sale?   It is best to begin a short sale when the homeowner realizes they can no longer afford the mortgage, so that the property can be marketed properly and they can receive a high offer.

What are your neighborhoods looking like? 

Need a Short Sale Specialist? 

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Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Perfect Financial Solutions and we also focus in Short Sales and the Pre-Foreclosure process.  Our consultations are free.  Our aggressive marketing plan includes on-listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at  866-750-8282 or email at US.

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