Sometimes, it seems like all we deal with right now is bank owned properties. So, just for sanity I calculated a few of my own statistics for Placer County, California. Out of the 2,561 residential homes sold since April 2008, almost 60% were not bank owned (REO) properties. If I just look at the past 30 days it's 62%. In talking with Chris Headrick of Mortgage & Investment Consulting, he sees even larger gains in the percentage when looking at specific communities within the county.
Good note for buyers - don't just focus on bank owned properties. There are many good buys out there from traditional sellers. Don't think all the 'good buys' are stressed sales! Shop around.
Originally Posted October 2nd 2008
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