ResalesMarket Conditions: Yolo County, California
Ken and Linda Pillard, market experts in Yolo County, California, say default notices have jumped from 197 to 488 since 2007.
But despite those figures, they say this market is showing promising signs for buyers, who are in the perfect position to take advantage of low interest rates and extraordinary inventory.
The Pillards report that contracts for home sales are up, and buyers are competing with multiple offers. In Yolo county alone there 177 home sales in June.
And, they say, record inventory is offering buyers a wealth of choices in Woodland Esparto, Winters and Davis. Davis in particular has done very well in holding its value.
So what does the future hold for this area?
The Pillards say prices may continue to spiral down until the current inventory of REO"s are sold, but country property prices remain stronger than homes in town due to lack of inventory and fewer foreclosures there.
They say the bright spot for this market is without a doubt the current outstanding interest rates. And as REO properties fall off the market, this area will only get stronger.
For more information on this market, contact Ken & Linda Pillard today at:
LindaPillardHomes.com.
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