Distressed and bank-owned properties make up nearly 75% of the Sacramento market.
March 31st, 2009 Categories: Mortgage and Loans, Real Estate News, Real Estate Trends, Sacramento Home Buyers, Sacramento Real Estate
With the inventory falling at the same time prices fall and mortgages rates fall, our Sacramento area market is a tough place to buy a house right now. Competition is fierce for the best priced homes and many buyers, especially first time homeowners looking for closing cost credits and/or repairs, inspections and contingencies are losing out to investors with cash, who will buy as-is.
Nowhere is this more true than in the under $100,000 market.
Prices have fallen to well under $100.00 per square foot in many areas, for homes that would have cost over twice as much just a few short years ago.
We are seeing more foreclosures, though and the inventory should be increasing over the next couple of months…
