• NEWS 90.9 KXJZ Sacramento
  • 90.5 KKTO Tahoe/Reno
  • 91.3 KUOP Stockton
  • 88.1 KQNC Quincy
  • MUSIC 88.9 KXPR Sacramento
  • 91.7 KXSR Groveland/Sonora
  • 88.7 KXJS Sutter/Yuba City

Pre-foreclosure Sales Up



Share | |
(Sacramento, CA)
Thursday, August 25, 2011

Foreclosure listing firm RealtyTrac says pre-foreclosure sales in California between April and June jumped 38% from the previous three-months…and 9% from the same period last year.

"There seems to be a shift going on in California toward short sales as opposed to bank-owned sales."

RealtyTrac's Daren Blomquist says banks appear to be streamlining the short sale process.

He says the shift is a positive sign because short sales - which happen when the home is still in default and not fully bank-owned - help distressed homeowners.

"They are able to avoid having the foreclosure on their credit history. And then you're getting a new buyer right away on that house, if the lender waited and foreclosed on that house that house would probably be sitting vacant."

All foreclosure-related sales in California between April and June increased 12% from the previous three-months.  

We Get Support From:
Become a Supporter

We Get Support From:

Become a Supporter