In Alameda County CA, the numbers of short sales are increasing, whether it’s lower end homes or higher end homes. Many of the homeowners are either losing their jobs or pay cut due to the current economy. These homeowners cannot afford to pay higher mortgages and selling their property to avoid foreclosure.
In 2008, the short sale transactions were 1,318 and out of that 14 homes were 1 million plus homes. In 2009, short sale transactions were 3,898 and out of that 37 homes were million plus homes. So, the numbers were almost tripled in 2009 as compared to 2008. This year, it seems to be more short sales than last year.
As of today (1/17/10), there are 28 higher end short sale homes (700k+) available in Alameda County and out of that, 5 luxury homes are 1 million plus.
Below short sale homes are available (700,000+ price ranges) in these cities as of 1/17/10:
Alameda: $748,888
Berkeley: $980,000 – $1,295,000
Castro Valley: $807,000
Fremont: $820,000 – $970,000
Newark: $730,000 – $749,000
Hayward: $900,000
Livermore: $750,000 – $1,100,000
Oakland: $725,000 – $850,000
Pleasanton: $835,000 – $2,750,000
Union City: $805,000
Pending & Sold Short Sale Listings in 2010 ($700k and above):
Pending and Sold Short Sale Listings in 2009 ($700k and above):
Since January 2009, there were 180 homes which didn’t sell that mean either they had worked out with the bank to continue to live there or it went to foreclosure or simply just gave up the hope and letting it go to foreclosure. This number does not include those houses which were re-listed & sold or currently active on the market with lower prices. Couple of them which are active now were listed at million plus price but now it’s only in $800,000+.
Don’t give up hope if your home didn’t sell last time, my advice is to work with an experienced short sale agent who knows how to deal with lenders and how to market your property in this type of market to sell your house so that you can move on with your life without worrying about foreclosure.
Alameda County Higher End Short Sales Homes Are on Rise
There’s a new program, where you can short sale your current home and buy a smaller home at a much lower price with only 3.5% down using FHA loan. Click Short Sale and Buy for more information
For more information on short sale or would like me to assist you with short sale, please feel free to contact me at 510-366-9405.
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