How many foreclosures do you think are currently “active” or available for purchase out of the 1,389 residential listings available on the Shasta MLS?  Think about it for a while and I’ll tell you at the end of the post so you can see how well you know our market!

Looking at today’s headlines I found some newly published statistics on the national foreclosure market courtesy of LA Times Online.

A real estate firm reported that the number of homes caught up in some stage of the foreclosure process in February fell 2% from the previous month to 308,524.  That number is up 6% compared with the same month a year earlier but marked the smallest year-over-year increase since January 2006, according to RealtyTrac Inc.

I was suprised to hear that California is now ranked fourth in Foreclosures behind Nevada, Florida and Arizona, with 1 in every 195 units being foreclosed upon in February (I thought we would be #2 behind Nevada).  Although this report is initially optimistic when hearing the information most in the industry are not as optimistic, knowing that the banks are taking longer than expected to communicate with possible buyers and the sellers of property and many more homeowners that have been struggling finanacially that will be facing the beginning of the foreclosure process soon.

Read the entire article “Fewer Homes Enter Foreclosure Process”

So…if you took my challenge at the top of the post…the answer is 169.  There are currently 169 available REPO’s in our market (with another 134 homes “pending” or in escrow).

Have a great day and let us know if we can help you find your REPO!

Clint Cronic, Broker & Mindy Cronic, MBA
Owners, Next Generation Real Estate Services
942 Merchant Street   Redding, CA 96002
530.227.0345  or contactus@sellingredding.com

DRE License #’s 01314114, 01458166

http://www.sellingredding.com

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