The South Lake Tahoe mls is showing that are closed sales are currently 45% REOs and Short Sales, is it similar elsewhere in other areas of California

Asked by Jennifer Fortune, South Lake Tahoe, CA Fri Mar 9, 2012

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Sasha Spiegel’s answer
Sasha Spiegel, Agent, Tahoe City, CA
Wed May 2, 2012
North Lake Tahoe seems to be a different market. The most REO and Short Sale closes was 34% but those numbers have really dropped this year.
North Lake Tahoe , Tahoe City and Truckee plus Squaw Valley , Alpine Meadows and Northstar have dropped the REO , short sale closes to 42% and I expect that to decline fast as there is very little inventory at this point. Only 16.4 % of the homes on the market or distressed sales.
0 votes
Suzanne Baker, Agent, Mammoth, CA
Mon Sep 3, 2012
The same is true for Mammoth and the Eastern Sierra region in general. We have only a few foreclosures presently.
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Suzanne, it is dropping here-hopefully good news for the future
Flag Mon Sep 3, 2012
Tina Lam, Agent, San Jose, CA
Sat Mar 10, 2012
Statewide, it's pretty close to 45%. In the south bay, it's been bouncing around the 40-55% range.
0 votes
Oggi Kashi, Agent, San Francisco, CA
Fri Mar 9, 2012
That's really high. In SF for 2012 about 22% of all closed MLS sales are REO or short sales. Here is the breakdown:

SFH (25% distressed)
Total sales 349
REO sales 47
Short sales 40

Condos (20% distressed)
Total sales 374
REO sales 34
Short sales 40

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
0 votes
That seems a bit more positive!
Flag Tue Mar 13, 2012
Jed Lane, Agent, Petaluma, CA
Fri Mar 9, 2012
In San Francisco the SFH REO rate is 12% over the last six months. The short sale's are 8%. In Condo's the REO's are 9% of sales and the Short's are 11% of sales.
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