Folsom Short Sale Specialist Reports Information and Stats

Folsom Short Sale Help, Folsom Short Sale Statistics and Folsom Short Sale Information
The increase in approved short sales or, pending short sales in Folsom are more proof that the administration’s pressure on servicers and banks to increase the number of approved short sales and loan modifications is working.  Why dont they work? Read; Sacramento Real Estate: Loan Mods Would Stop Many Sacramento Foreclosures
For the second time in sixty days, the number of short sales gone pending here in Folsom have increased dramatically month over month. They are still a smaller portion of our market mix than in many other Sacramento areas, but are becoming way mpre efficient. Tune in nest week or so when February’s numbers are available…

If Banks and Servicers want to stop foreclosures, they know they need to increase loan mods and Short Sales-

Folsom short sales are definitely closing at a much quicker and more consistent pace.  As this year unfolds, we will definitely see even more improvement in servicers and banks approving short sales quicker and more smoothly.
The writing is on the wall, here in Folsom.  Short sales are the only way some  people who bought in Broadstone, Empire Ranch or even The Parkway from 2004 to as late as 2008 who did not put a gob of money down are going to be able to sell in order to move, or stay out of foreclosure.
In  Folsom for January 2010, there were were 55 Total closing. Of those; 13 were short sales, or 23.6 %  of our closings for January. That percentage has nearly doubled in the last year and Will surely increase again this year!
Here are the stats for current active, current pending and homes solds in the last three months (Nov. Dec. and Jan) fin the City of Folsom.

Active: 147

Pending: 101

Sold: 184

Other: 0

Total: 432

	Bedrooms	Bathrooms	Square Feet	List Price	Selling Price	DOM/CDOM
Minimum	0	0.00	750	$95,000	$95,000	0/0
Average	3	2.57	2,011	$344,597	$354,080	83/102
Median	3	3.00	1,855	$329,000	$345,000	52/66
Maximum	6	5.00	5,286	$995,000	$875,000	791/791
Total Dollar Value					$65,150,751

Average DOM Breakdown and Average % of List Price received on Solds by Market time:

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	80	42	22	14	26
Breakdown %	43.48	22.83	11.96	7.61	14.13
Avg SP % LP	99.20	97.36	98.94	97.92	95.25

Average CDOM Breakdown and Average % of List Price received on Solds by Market time:

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	73	37	22	14	38
Breakdown %	39.67	20.11	11.96	7.61	20.65
Avg	99.20	97.47	98.90	98.30	95.98