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El Dorado Hills Short Sale Information And El Dorado County Short Sale and Foreclosure Report

El Dorado County Short Sales 07 25 10

El Dorado County Short Sales 07 25 10

The Graph Above and Chart Below Show a Decline In Active Short Sales in El Dorado County, While Pending Short Sales, Approved Short Sales And Close Short Sales Have Dramatically Increased in El Dorado County Since Last Summer!

1 month 1 year
May 10 June 10 % Change June 09 June 10 % Change
For Sale 187 203 8.6% 227 203 -10.6%
Sold 40 46 15% 21 46 119%
Pended 59 98 66.1% 48 98 104.2%

So active  short sales have declined and the number of El Dorado County  short sale closings are increasing.  This means that more of our inventory is actually being cleared before foreclosure in El Dorado County and that homes are being sold as short sales instead of going back to the bank as a foreclosure and sold as an REO later.  The next graph shows what is happening in El Dorado County Foreclosed homes that have been sold as REO (Bank Owned) properties in the past 12 months:

El Dorado County REO Last 12 Months 07 25 10

El Dorado County REO Last 12 Months 07 25 10

You can see that foreclosed homes sold as REO in El Dorado County have definitely not established a trend over the past year and that they have bounced around all over the board.  The chart below helps put overall changes in Bank Owned Foreclosures (or REO Homes) in El Dorado County in perspective

1 month 1 year
May 10 June 10 % Change June 09 June 10 % Change
For Sale 121 137 13.2% 128 137 7%
Sold 64 67 4.7% 60 67 11.7%
Pended 44 57 29.5% 59 57 -3.4%

Get Answers To Your Particular Situation:

With banks, servicers, investors and the government trying everything they can (except across the board loan modifications with principle reductions and work-outs that make sense!) to extend and slow down the foreclosure process, what does the future of the El Dorado County Foreclosure Market look like?  Well, I think more of the same:  Extend, pretend, drag out the inevitable, long hold times trying to get through to someone to help, new government loan modification programs that don’t work, foreclosure trustee sales postponed, more foreclosure moratoriums, etc.   …anything but facing  the fact that hundreds (thousands?) of El Dorado County homeowners are struggling and need some type of long term solution or the only resort is Short Sale or Foreclosure.

El Dorado County foreclosure notices, including notice of default and notice of trustee sale have gone up over the past year, and up higher in June than in May also, so it will be interesting to see how this plays out.

Questions about the foreclosure process? Feel free to Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

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