Bargain Prices on Bank-Owned Properties Attract Buyers in 2008

Favorable interest rates and a large inventory of bargain-priced bank-owned properties brought Sacramento homebuyers back to the real estate market in growing numbers during the fourth quarter of 2008, fueling a second consecutive quarter of triple-digit year-over-year percentage increases in home sales, according to a report by the research division of Prudential California Realty based on a analysis of MLS data.

In Sacramento County, 5,365 homes were sold during the fourth quarter of 2008, a 138 percent increase from 2,259 homes sold during the same quarter of 2007. The Sacramento area’s fourth quarter performance follows a 141 percent year-over-year increase of sales in the third quarter of 2008. Local observers estimate that as many as 70 percent of the quarter’s closed home sales involved a bank-owed property. Click the image below to read this article in it’s entirety. 

If you would like to know more specific information about the value of your home or are thinking about buying in Sacramento County, give us a call at 916.434.6455 or email us.

You can SEARCH MLS Listings In Sacramento County at your convenience. SIGN-UP for FREE MLS Listing Notifications and you will be emailed new listings that meet your specific criteria for properties for sale in all neighborhoods. This is a great way to stay informed of the hottest listings and have an edge on the competition because you’ll see Sacramento County listings before everyone else! 

Click on the image below to read or print the entire report.

If you enjoyed this post, make sure you subscribe to my RSS feed!