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Walnut Creek Short Sale Statistics

by Scott Fuller on November 1, 2011
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Walnut Creek Short sale

Dean Lescher Regional Performing Arts Center in downtown Walnut Creek

 Walnut Creek short sale properties can be well worth the wait of a short sale approval if you can get a great deal on a property. We are continuing to see more homes where the seller has decided they cannot continue to make their mortgage payment, and with most loan mod programs not being successful, a short sale is a great option for them. From a buyer’s perspective, this can be an opportunity to get a great deal.

There are currently 38 active Walnut Creek short sale listings, ranging in list price from $91,900-$1,500,000, and ranging in days on market from 2 days to 512 days.

There are currently 119 Walnut Creek short sale homes pending, ranging in list price from $74,000-$1,325,000.

According to year to date statistics, there have been 141 Walnut Creek short sale homes sold in 2011, ranging from $80,000-$1,194,900. Days on market for homes sold in 2011 range from 1-532. We expect Walnut Creek short sales to remain strong throughout the rest of 2011 and well into 2012, thus reducing the number of foreclosures yet still providing great deals to homeowners.

As is shown in the data, short sales in Walnut Creek occur at all price ranges, including condos, townhomes, single family homes, and land. This can mean buyers in all categories including first-time buyers, move-up buyers, retirees, etc can all find a potentially great deal on a short sale in Walnut Creek. Many short sale homes can be purchased at a discount from 5% all the way up to 20% off the fair market value. What’s more, the longer a property stays on the market, the more likely the sellers lender will be to negotiate a lower price if they feel the home will not sell at market price. As long as the listing agent is diligent in marketing the home and can prove that to the short sale lender, there is can be room for negotiation. Many lenders are becoming more aggressive in working with the seller to get the home sold since they do not want to end up owning the home and having to sell it as a REO property. They usually make more money allowing the short sale then they would if they had to own it. A lot of this of course depends on who actually owns the loan.

We expect short sales to continue to rise, so if you are in the market for a Walnut Creek short sale property at a discount, contact us. East Bay Short Sale Group works with buyers and sellers in all areas of Walnut Creek. Please contact us regarding your Walnut Creek short sale!

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