Michael Soares Real Estate Group - Sacramento Residential Real Estate, Natomas Home

Light at the End of the Tunnel

For the past three years my thoughts were filled with uncertainty and great concern for Natomas. Banks were liquidating homes at an alarming rate with no concern or plan for the future. Values dropped in excess of 50% in our neighborhood. At long last the banks and government have realized how destructive that path has been, and the need to help our neighborhoods thought these trying times.

In the first half of 2010, we have seen a significant decline in bank owned properties, banks are postponing foreclosures and bank short sale departments are staffing up. The federal government, in conjunction with the largest national banks, have even established a standardized short sale procedure. The new belief is if a loan rate can be modified so that a homeowner can stay in their home - then modify it. Unfortunately, many people still cannot afford their current home and rather than foreclosing the banks are working with the homeowner to sell the home. When there is a valid hardship they are even considering a discounted payoff or short sale. This is oversimplified but short sales are the foreseeable future for Natomas Real Estate. The banks want to work with homeowners and the federal government is pushing banks for higher success rates. We finally have a positive option rather than foreclosure.
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Real Estate Areas of Expertise Sacramento West Sacramento Natomas Natomas Park North Natomas Natomas Creek Antelope Heritage Park West Lake

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