Avoid Foreclosure Today

Sacramento Region Market Update 2008-2009

 

Nationwide residential real estate sale increased 6.5% in December 2008.

Low interest rates and low-priced foreclosures dominated home sales last year.

 

Sacramento Region 2008

 

• High volume of foreclosures sold in 2008.
• Lenders saw many homeowners attempting to refi due to low interest rates.
• Refinance often failed due to loss of equity.
• Washington DC and Sacramento mandates slowed foreclosures in  2008.
• Foreclosure backlog created for 2009. Many properties stand empty.
• Short sales and foreclosure alternatives were attempted but were not a significant factor in sales.
• 10 to 50 offers per foreclosure pulled down neighborhood values. 
• South Sacramento, North Sacramento, & Elk Grove were hit hard in the first round of foreclosures.
• Government failed to identify and fix toxic assets in banks’ portfolios.

 

Sacramento Region 2009

 

• Foreclosures will increase starting in March 2009 due to the expiration of government moratoriums.
• Increasing short sale activity in better neighborhoods in 2009 in the Sacramento region with more success.
• Lenders more willing to negoiate rather than foreclose.
• There will be a tsunami of new foreclosures in better neighborhoods as new loans adjust.  Eldorado Hills,  Folsom,  Placer County will be hard hit by end of 2009.
• Foreclosures will increase for years in better neighborhoods from alt-a and other adjustable products used by middle class.
• Inflation will begin to take hold in 2009 and rates will begin to increase.
• Homeowners will discover loss of equity as they attempt to refi.
• California Governor will implement furloughs which will cut state workers pay.
• De-flationary pressure will remain dominate in real estate market.

 

Solutions for 2009

 

I will provide you with a complimentary book entitled “Foreclosure Solutions – A Homeowners Handbook”.

Chapter 1 Do’s & Don’ts, Basic Advice you need to know.

Chapter 2  Keeping your Home  Six Strategies to Save your home.

Chapter 3  Foreclosure Avoidance  Four strategies to avoid foreclosure.

Chapter 4  Consequences of foreclosure.

Chapter 5  Deficiencies per IRS.

Chapter 6  Using Services of a Pro

 

Foreclosure or Short Sale may not be your only alternative.  Loren  Ransier (916) 439 -3588 or www.sacramento.me.