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Will there be an increase in short sales in Roseville, CA
(Roseville, CA)

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stewie posted on 24 Jul 2012 04:17 AM

With the robo signing case over and Governor Brown signing the California homeowner bill of rights that is due to take effect Jan 1, 2013, and talk of a shadow market of houses that have not hit the market will Roseville, CA see an increase in short sales, foreclosures, etc. in the coming months

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darenb replied on 29 Jul 2012 02:17 PM

We (RealtyTrac) expect to see an increase in short sales as lenders try to avoid the increasingly messy and risky foreclosure process that now opens them up to lawsuits even more with the Homeowners Bill of Rights.

 

At the same time, there are still many homeowners that are starting the foreclosure process in the Sacramento metropolitan statistical, where Roseville is located. Foreclosure starts in the Sacramento metro areas have increased on a year-over-year basis in four of the last five months.

 

Additionally, in Sacramento County, RealtyTrac data shows that 40 percent of homeowners with a mortgage are underwater by at least 25 percent, and those homeowners will be more likely to fall into foreclosure if the housing market and economy continue to bounce along the bottom.

 

Below is a video showing more about our outlook for foreclosures nationwide and in California.

 

 

Lastly

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