Bank Owned (REO's) are going, going gone (almost) in San Ramon and Danville

The Stats tell the tale:

Here is a quick update of what's happening in San Ramon and Danville real estate. We hear alot about how many foreclosures there are and how many are still coming. BUT, the stats would lead me to believe that were winding down in my area.

SAN RAMON:

Total homes for sale: 354 REO's 27 (out of 354, or 7.63%) Short Sales 117 (out of 354 or 33.1%)

Total Homes Pending: 169

Total Sold since March 1st: 29

Danville:

Total homes for sale: 245 REO's 8 (out of 245 or 3.26%) Short Sales 43 (out of 245 or 17.6%)

Total Homes Pending: 59

Total Sold since March 1st: 30

So, for those of you that are expecting to pick up an easy bank owned property at a low price, I thing the time is ending. The good properties are selling very fast. Short sales are taking the place of bank owned homes and are becoming the "norm".

So, get your bank owned before it going, going, GONE!!!!!