Foreclosures in Pam Desert California
How many foreclosures are now available is Palm Desert? Whether it is condos in Golf communities or just homes not in developments, the number of foreclosures has been under 100 units (even at the peak see statistics at : http://www.claudinereal.com/Area_Sales_Statistics.htm ) the number showing at end of June was 48 only…and I believe that in my next report we will see this number decreasing.
The foreclosures all together did hit the Palm Springs area and Palm Desert in particular but more in Desert Hot Springs, Coachella, Indio or La Quinta areas which have been overbuilt and where the buyers were first time buyers (who could not afford to buy to start with) and the “flippers” who did not put anything down and had no problem letting the property go back to the bank.
Bank owned properties in Palm Desert
REO’s (bank owned properties) which in the overall are called foreclosures by most of the people are losing terrain and we are seeing their number decrease significantly. Yes there were deals to be made and a lot of smart buyers took advantage of the market.
It is still time you can go and browse and see ALL the bank owned properties in Palm Springs area available for sale : http://www.claudinereal.com/Foreclosures.htm
“the regular sellers” to my knowledge are still the best buys in town because sellers are more motivated, more flexible and “people” to talk compared to interacting with THE BANK.