New Rocklin Foreclosure Wave?
It’s been the real estate buzz for a few months now. Where’s all the Rocklin home inventory and where did all the foreclosures go? It’s turned into a mini seller’s market lately as inventory has significantly dropped…down 33% from last year. Buyer’s are in a frenzy. Multiple offers on all of my listings and sellers are getting at or over list price.
Foreclosures in Rocklin and the rest of California have been stalled while banks held back foreclosures during their robo-signing settlement. Now, that California has settled, foreclosure starts are up 28% in January as reported by Lender Processing Services. Inventory will again rise as these foreclosures turn into bank owned listings and more Rocklin seller’s start the short sale process.
What does this mean for Rocklin home buyers are sellers? If you’re trying to buy a house in Rocklin but not having much luck, hold tight! More inventory is coming and there will be less competition. Make sure you are working with an experienced Rocklin real estate agent who knows how to make your offer look attractive and get accepted.
If you are thinking about selling your Rocklin home, now’s the time. Take advantage of this small window of opportunity with less competition to sell your home before foreclosure competition decreases values and the number of buyers interested.
If you are behind on your mortgage payments, you may be part of this new foreclosure wave. Consider a Rocklin short sale. A short sale will stall the foreclosure and give you more time to stay in your home. You may get move-out assistance and a short sale is less damaging to your credit. You’ll be able to buy a new house much faster after a short sale than a foreclosure. See if you qualify for a Rocklin short sale.
Read more about the new wave of foreclosures.
New Rocklin Foreclosure Wave?
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