Remember from my July 18th post “Napa Valley Real Estate, a Tale of Two Times Two Markets“ was the number of distressed sales (in foreclosure, a short sale or a bank owned property, REO) increasing for homes priced $800,000 to $2,000,000, especially up valley. By up valley I mean the Cities of St. Helena, Calistoga, Angwin, Deer Park, Oakville, Rutherford and the Town of Yountville. Today, there are 4 distressed sales of 82 active listings in this price range, compared to 3 of 87 on June 2nd. (Sorry but I was gone for July) Keep tuning in for this as a new monthly stat I will regularly tract from now own. Next look September 1st. Seems like my comments in last months post about the supposed shadow inventory of distressed properties in this price range in the Napa Valley is just not happening??? Even the Wall Street Journal is speaking out about this, “Debate Rages Over Supply of Foreclosed Homes“.
Continued Tracking of Napa Valley Distressed Properties in the $800,000 to $2M Range, now 6 of 90
This is Curtis and would like to hear what you think.
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