Short Sale Natomas – SOLD by Agent Allan Sanchez

Short Sale Natomas – SOLD by Agent Allan Sanchez 

Here’s my latest SOLD Natomas short sale.  1900 Danbrook Drive #618 is an Amara condo in the Natomas Park neighborhood of Natomas.  It’s a very cute, low maintenance, 1 bedroom and 1 bath that closed for $87,000!  You may be thinking that $87K is a lot for a 1 bedroom condo but Natomas home prices are on their way up!  in 2012, prices in Natomas rose an average of just under 13%.  In fact, I originally had a buyer for this condo at $70,000 who decided it wasn’t a good buy.  He backed out and I ended up selling it for much more.  Too bad for buyer #1…he lost out on an almost immediate $17K of equity!

Yes…Natomas home prices my surprise you lately.  The LOW inventory of homes on the market is the reason prices are going up.  The banks are controlling much of the inventory.  They are resisting foreclosing on delinquent homeowners and instead encouraging them to short sale.  Despite a rise in Natomas home prices, there are still many who owe more than their home is worth.  If a home was purchased or refinanced at the peak of the market, there is still a long way for prices to rise.  If a homeowner is in that position and either can’t afford their payment or must move, a short sale really is a great option.

It will be interesting to see what the 2013 real estate market has in store.  By most accounts, prices will continue to rise, buyers will have an urgency to jump into the market, and inventory will remain low.  An increase of inventory from the banks or from sellers who’ve been waiting for enough equity to sell, may even out the market and slow rising prices.

Have a question about Natomas short sales or rising home prices, contact Natomas Real Estate Agent, Allan Sanchez.

Short Sale Natomas – SOLD by Agent Allan Sanchez