on this post - (1) PostsWe’ve created a page on the blog that allows you to search all of the Redding and Shasta County bank-owned (REO) properties and reposessions (REPO’s). These properties have all already gone back to the banks at the courthouse steps and have actually been listed in the Shasta MLS with a brokerage.
Click here to search all REPO’s in the Shasta MLS!
CALIFORNIA HOME SALES UP UN JULY
California Real Estate market gave signs of relief. Home sales went up 12.3 percent in July compare to the same month last year. According the Quick Data, a company that monitors Real Estate Activity nationwide.
Of the homes sold 44.8 percent were foreclosure resales.
The median home price last month was 318,000 down 3% from 328,000 for the month before and down 33.5 percent from July a year ago. Most of the drop in home prices is due to the depreciation properties are facing because of the mortgage meltdown.
Not even the most knowledgeable Real Estate indicators know exactly where the market is going. Foreclosure activity is at record levels, banks are asking for tougher requirements, non-owner occupied homes are almost impossible to re-finance.