American Canyon Homes for Sale are mostly Short Sales.

We are now about half way into May and spring is here in the Napa Valley. Just like the growing flowers, Napa Real Estate and homes for sale are growing too. Traditionally this is the time of year that real estate activity begins to ramp up and this year the trend continues, albeit in smaller numbers than, say, a few years ago. So maybe it is fair to say the home buying and selling season has officially begun. Having said that, the season is far different than those in the past due to obvious problems in the Financial world. Let’s take a look here and see how this affects both the buying and selling of homes here.

Still showing signs of the mortgage meltdown, American Canyon leads Napa with the largest portion of distressed homes. Currently there are 59 active listings and 40 of those listings are either short sales or foreclosures. That is 74.5% of all listings of homes for sale are distressed. When we look at the new listings or releases, that number jumps. All listings beginning on May 1st through today have a 86% ratio of distressed to traditional sales, and out of that there are 3 new short sale listings for every new REO or Foreclosure listing. I guess it would be fair to say that Short Sales are clearly the dominant force for homes. Here is the challenge, for anyone familiar with the short sale process, the banks do not make it easy for either buyers or sellers to complete the transactions and this not only discourages everyone involved it also keeps potential buyers from jumping into the home buying market. This is why the REOs or Foreclosure properties tend to sell much quicker. Even though banks are still problematic to work with, there are fewer hurdles to climb once the property is a REO. Now some banks are getting it and are spending more efforts to approve and process these short sales, but we are still a long way away from this being anything like normal.

Here are my May 15th BEST BUYS of American Canyon Homes for Sale!

One important thing here is to make sure if you are interested in buying and selling a distressed home to get an expert to make things go better. Contact us for help or more information, we are the experts.

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