What is happening with the current market in Elk Grove and Elk Grove Short Sales?
Well, closings have gone up! This is as a result of a couple of factors. First, buyers have gotten more accustomed to them and are not as afraid to make offers on Elk Grove short sales and secondly, the lenders really are approving them faster! We are definitely closing more Elk Grove short sales and helping more homeowners avoid foreclosure!
Take a look at these statistics for Elk Grove short sales -
As you can see the inventory has steadily decreased for the past year as has our total inventory in Elk Grove. Actual closings were at their highest in December 2011 at 102 Elk Grove short sales closing! Also pending sales have stayed steady around the 150 mark for the past 6 months.
And although inventory has been steadily decreasing, prices on Elk Grove short sales have still been declining. Only a little each month and we are holding pretty steady around the $100 per square foot mark, however they have been decreasing a little each month.
And as I said previously, inventory has been steadily going down. We currently have only a 1.7 month of inventory on the market for Elk Grove Short Sales. This covers all 3 zip codes - 95624, 95757 and 95758. As of today, January 25, 2012, we have even less inventory in Elk Grove - 152 short sales are currently on the market.
So what does this all mean?
If you are an Elk Grove homeowner thinking about selling your Elk Grove home and you are upside down on your mortgage or behind in your payments, now is a good time to get your home on the market.
If you are a home buyer looking for an Elk Grove home, remember Elk Grove short sales are closing. Just make sure that your real estate agent asks the right questions about the short sale before you make your offer. If you would like a list of the right questions, give us a call at (916) 405-5737 and we will be happy to send them to you!
Remember, t
How much will a short sale cost me?
Are there credit consequences to a short sale?
Who is eligible for a short sale?
Questions to ask the listing agent?
What is a deficiency judgement?
When is it too late to list your home as a short sale?
Behind on payments - how long until the bank forecloses?
If you are interested in finding out more about the Elk Grove real etate market, buying foreclosure properties or short sales or about financing investment properties, make sure to check out our website at www.FindaHomeinElkGrove.com.
More information on the Elk Grove, California real estate market
Lori Mode and Bruce Durham, Keller Williams Realty - Elk Grove
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Our inventory has dropped thru the floor. Looks like yours has also.
Lori, the news just gets better day by day. Very Helpful Statistics!