To my clients, a quick Update on Mt. House. Inventory is still tight due to the foreclosure moratorium from various banks. Some banks are very slow in responding to offers even for REOs. However, I see more short sale listings getting close. That's a good sign because I am working on some of them :) Please ping me if you have any questions. Thanks for visiting my blog.
Yes, we have a lot of foreclosures in the area, but if you look at the housing inventory chart below. We had 80 months of inventory last year, but we are down to less than three months now. Houses are selling fast because of the low prices.
Also, Avg home prices in Mt. House have been stabilizing the last three months. Nobody can predict which way the market will go, but home prices are much more affordable now.
I am a Realtor® who specializes in Mountain House & Tracy, the gateway between the San Francisco Bay Area and Central Valley.
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