Update On Our Street

A number of houses on our street in Elk Grove have been listing as short sales lately, and I get the feeling the wheels are being greased on the foreclosure machine. One neighbor of ours just listed their house as a short sale after receiving a Notice of Default last month. Turns out they hadn't made a payment in 30 months! The house originally "sold" in early 2008 for around $300K, and is now pending for under $220K. The real stunner is when I ran older sales for our neighborhood, I found an identical house that sold in 1990 at the height of the previous bubble, for, you guessed it, $220K! That's 21 years with negative appreciation!

Sacramento Regional Real Estate Trends for May 28, 2011

Summary Of Changes for Sacramento County
	Week of 2011-05-28	Since 2011-05-21			Since 2010-05-29
		Direction	#	%	Direction	#	%
Inventory	7347		-116	-1.60%		-224	-3%
Median Asking Price	$159500		$250	0.200%		-$20500	-11.4%
Average Asking Price	$196684		$1399	0.700%		-$26713	-12%
Average Asking Price Per SQFT	$117		$0	0%		-$16	-12%
SIT Inventory	3335		-80	-2.29%		-104	-3%
FIT Inventory	460		-23	-4.79%		-97	-17.3%
New Listings	764		-129	-14.3%		-138	-15.2%
Price Drops	565		21	3.899%		95	20.20%
Price Increases	54		26	92.90%		11	25.60%

Four County Inventory Levels

Inventory on 2011-05-28: 11257

Asking Price Levels

Price Inventory Levels

Asking Price Distribution

Troubled Inventory Levels

Flipper Market Share

Sellers In Trouble Market Share

Sellers In Trouble Days Since Last Sale

Asking Price Average Percent Loss