Davis Bank Owned/REO properties
Davis MarketRegionally we have likely only seen the the start of a cycle of bank owned properties entering the market. Michael Lyon, CEO of Lyon Real Estate estimates that only 20% of Bank Owned/REO (Real Estate Owned) properties have hit the market and the first peak will be the summer of 2008. While foreclosures and short sales are dominating certain sectors of the greater Sacramento Market, they are not a major factor in Davis Real Estate.
Here is the REO activity for the past 14 months in Yolo County. Graphs courtesy of Trendgraphix.
This is pretty typical of what can be found throughout the Sacramento region.
Here is the REO activity for Davis during this same time period:
The scale is a bit different on both graphs, but the numbers are striking. Currently there are a total of 6 short sales on the market in Davis. This is highest number of short sales that Davis has seen in this market however it is still very low compared to the overall region.
Date: 2008-01-25 17:17:42Views: 804