West Sacramento Short Sale Information- Shadow Inventory Update

Today let's talk about the 600 lb. Gorilla standing I he middle of the room - shadow inventory

Over the last couple of weeks the housing reports have been pretty positive indicating we may have hit bottom on home values free fall. While the general Sacramento, Placer, Yolo County area home prices are still 50% below the 2005 peak we have seem modest gains over that last few weeks.

So what is driving prices and why can't we sustain the growth? Simply put, it would seem the banks in general might be holding back foreclosure inventory but most importantly there are still 53.4% of Sacramento Metro households with negative equity averaging just over $100,000. Of those 53.4%, 8.2% or approximately 25,000 households are seriously delinquent. As of this writing there were only 2900 +/- homes for sale in the greater Sacramento, Placer and Yolo County area. The serious delinquent numbers indicate a number nearly 10 times those that are for sale -- TEN times. As these properties are released into the market either through West Sacramento Short Sale or foreclosure based on the law of supply and demand, they can't help but negatively influence home prices. That's economics 101.

Now I don't want to be a naysayer or be Negative Nelly on the market -- I mean let's face it, the better the West Sacramento Real Estate market is the better it is for all of us - but I do believe in telling it the way I understand it to be and the numbers are the numbers.

So what do we do about it? For those who are seriously delinquent, they need to understand the government is not going to bail them out. Nearly 40% of the Attorney Generals Settlement with the five largest banks has already been completed helping roughly 138,000 of the 11 million households that needed help. Heck the total number of households projected to be helped was only 500,000 of ELEVEN MILLION or 4.5%.

Your options are West Sacramento short sale or foreclosure and foreclosure should never be an option for you. The longer it takes this shadow inventory to clear out, the longer it will take to get America back on track.

Is a West Sacramento Short Sale Right for Me?

To get a better idea of when your West Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info for a free estimate or call me today for a free no obligation consultation or for the latest West Sacramento short sale information. Call me today and sleep better tonight; you'll be glad you did