Categories
- Buying
- Benicia
- Investors
- Vallejo
- Solano
- Contra Costa
- Selling
- Market Update
- Loans / Financing
- Foreclosures / Short Sales
- Local Stuff
- Fun Stuff
- Vacaville
- Fairfield-Gr Valley
- Suisun City
- The Economy
- Viewpoint
- New Listings
- Resources
Archive
- July 2011 (1)
- June 2011 (2)
- May 2011 (2)
- April 2011 (3)
- March 2011 (6)
- February 2011 (4)
- May 2010 (5)
- April 2010 (30)
- March 2010 (7)
- February 2010 (6)
- January 2010 (11)
- December 2009 (15)
- November 2009 (10)
- October 2009 (20)
- September 2009 (13)
- August 2009 (15)
- July 2009 (10)
- June 2009 (9)
- May 2009 (18)
- April 2009 (14)
- March 2009 (14)
- February 2009 (22)
- January 2009 (21)
- December 2008 (7)
- November 2008 (1)
- October 2008 (2)
- September 2008 (8)
Antioch, Pittsburg & Vallejo 1-2-3 In Percentage Of Active Distress Sale Listings
January 9th, 2009 categories: Benicia, Contra Costa, Foreclosures / Short Sales, Market Update, Solano, Vallejo
For those communities that had the highest number of distress-sale listings last Fall, the news hasn’t gotten any better. In fact, it’s gotten slightly worse in places like Antioch, Pittsburg and Vallejo, 
where today nine out of every 10 listings are either a short sale or bank-owned.
Those three cities rank 1-2-3 in our market area, with distress properties accounting for 94%, 93% and 90% of their total listing inventory, respectively.
By comparison, the last time I prepared this report, back in late October, Antioch and Pittsburg each had 91% and Vallejo, 86%.
The news wasn’t much better for those right behind the Big Three: Suisun City, Oakley, Fairfield, and Concord, clocked in with 89%, 85%, 80% and 79%, respectively. Only Fairfield saw a decrease (albeit by a single percentage point). The other three cities all saw their percentages go up, including Concord, which jumped from from 72% in October to 79% today. Right behind Concord is Brentwood, at 77% (up from 76% in October).
In Vacaville, two-thirds of the listings (66%) are of the distress-sale variety, while Martinez (52%), Benicia (52%) and Pleasant Hill (49%) all have about one distress listing for every fair-market listing.
At the other end of the spectrum, even the region’s higher-priced communities are feeling more of a pinch than they were back in October. Compared to Antioch, Pittsburg and Vallejo, places like Alamo, Orinda, Moraga and Lafayette are hardly feeling the pinch. Yet, even in those towns, where you’ll find the fewest number of distress sales, the percentages are up from October.
Alamo at 13% has the lowest percentage, but that’s up from 9% in October. And Orinda (18% – 14%), Moraga (22% – 12%) and Lafayette 24% – 7%) also all have a higher percentage of distress sale listings today than they did a little over two months ago.
Rounding out the list, Danville (24% – 16%), Clayton (33% – 25%), and Walnut Creek (31% – 24%) all also show higher percentages in early January than they did in late October.
You can download the entire current report and see all the raw numbers, including the number of bank-owned, short sale and fair market listings for each of the 19 cities in our market area. You’ll see that Vallejo again leads the region in the number of REO (bank-owned) listings, with 531, followed by Antioch (407) and Fairfield-Green Valley (334). Those communities also are the short-sale leaders, with well over 200 short sale listings in all three communities.
As always, I welcome your comments. If you have questions about these figures or want to look at any of these communities more closely, we’ll be happy to assist you (as long as you’re not already in a working relationship with another real estate agent).
I plan to continue to compile my Distressed-Property Update on a regular basis (about every six weeks). So look for the next report towards the latter part of February...
