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You are here: Home / Distressed Sales / Currently 75% of all Sales in Napa County Currently Under Contract are Distressed Sales

Currently 75% of all Sales in Napa County Currently Under Contract are Distressed Sales

August 29, 2009 by Curtis Van Carter Leave a Comment

Here are some enlightening facts from an article, Battling to buy a house in Napa, in the Napa Register today.
Unlike previous housing booms, this isn’t a traditional seller’s market buoyed by rising prices or reduced supply. Today, bank-owned properties and so-called “short sales” drive the market — both types commonly called distressed properties in the real estate industry. A short sale is when the lender agrees to list a property for less than what the homeowner owes on his or her mortgage.
Multiple Listing Service statistics, which track every home on the market, show that 75 percent — 239 of 317 — of the Napa County homes or condos currently under contract are distressed properties, such as bank-owned homes or short sales.

Additionally, 57 percent — 73 of 129 — of Napa County properties closed in the past 30 days were “distressed” properties.

Meanwhile, the pipeline of distressed homes remains full.

DataQuick statistics show that Napa County notices of default increased 6 percent in the second quarter of 2009 compared to second quarter of 2008. A notice of default marks the first step in the foreclosure process. But during the same period the number of trustee’s deeds recorded, the final step in a foreclosure, decreased 30 percent.

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Filed Under: Distressed Sales, Foreclosures, From Curtis, Napa Valley, RE Current Info Tagged With: Bay Area RE, CA Real Estate, Curtis Van Carter, Foreclosure, Napa Valley, RE Current Info, Short Sales

Curtis Van Carter, has been one of Napa Valley Real Estate's most knowledgeable and experienced agents. He has been characterized by his clients for his honesty and knowledge to make a home sale or purchase as smooth as possible. If you are interested in selling or listing a home please call or EMAIL Curtis here.

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Latest Yountville Real Estate

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Photo of 1522 Yountville Cross Road, Yountville, CA 94599 (MLS # 21722381)

1522 Yountville Cross Road , Yountville

  • Home size: 2,105 sq ft
  • Lot size: 43,560 sqft
  • Year built: 1960
  • 3 beds
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Photo of 6600 Yount Street #34, Yountville, CA 94599 (MLS # 21802160)

6600 Yount Street #34 , Yountville

  • Home size: 1,050 sq ft
  • Lot size: 871 sqft
  • Year built: 1990
  • 2 beds
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  • Listing provided by , Coldwell Banker B of V-Napa
Photo of 1986 Yountville Cross Road, Yountville, CA 94599 (MLS # 21807003)

1986 Yountville Cross Road , Yountville

  • Home size: 1,646 sq ft
  • Year built: 1982
  • 2 beds
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  • $799,500
  • Listing provided by , Portofino Realty Advisors
Photo of 1906 Oak Circle, Yountville, CA 94599 (MLS # 21808364)

1906 Oak Circle , Yountville

  • Home size: 1,666 sq ft
  • Lot size: 6,098 sqft
  • Year built: 1982
  • 3 beds
  • 2 baths
  • $1,879,000
  • Listing provided by , Gates Estates Sotheby's International Realty
Photo of 216 Vista Court, Yountville, CA 94599 (MLS # 21809429)

216 Vista Court , Yountville

  • Home size: 1,224 sq ft
  • Lot size: 1,742 sqft
  • Year built: 1979
  • 3 beds
  • 2 baths
  • $3,849
  • Listing provided by , Pacific Union International
previous
  • Photo of 1522 Yountville Cross Road, Yountville, CA 94599 (MLS # 21722381)

    1522 Yountville Cross Road , Yountville

    Home size: 2,105 sq ft Lot size: 43,560 sqft Year built: 1960

    Listing provided by , Gates Estates Sotheby's International Realty

    3 beds 2 baths $1,989,000

  • Photo of 6600 Yount Street #34, Yountville, CA 94599 (MLS # 21802160)

    6600 Yount Street #34 , Yountville

    Home size: 1,050 sq ft Lot size: 871 sqft Year built: 1990

    Listing provided by , Coldwell Banker B of V-Napa

    2 beds 2 baths $725,000

  • Photo of 1986 Yountville Cross Road, Yountville, CA 94599 (MLS # 21807003)

    1986 Yountville Cross Road , Yountville

    Home size: 1,646 sq ft Year built: 1982

    Listing provided by , Portofino Realty Advisors

    2 beds 2 baths $799,500

  • Photo of 1906 Oak Circle, Yountville, CA 94599 (MLS # 21808364)

    1906 Oak Circle , Yountville

    Home size: 1,666 sq ft Lot size: 6,098 sqft Year built: 1982

    Listing provided by , Gates Estates Sotheby's International Realty

    3 beds 2 baths $1,879,000

  • Photo of 216 Vista Court, Yountville, CA 94599 (MLS # 21809429)

    216 Vista Court , Yountville

    Home size: 1,224 sq ft Lot size: 1,742 sqft Year built: 1979

    Listing provided by , Pacific Union International

    3 beds 2 baths $3,849

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