Sacramento foreclosures for January 2009

The current Sacramento real estate market is dominated by foreclosures, short sales and other distressed properties.  For the month of January, there were 1120 closed REO/foreclosed sales in the entire Sacramento county and there were only 1483 total home sales.  This number will be important to watch in the next few months as the moritorium on Fannie Mae and Freddie Mac on foreclosing on properties has ended.  While financing continues to be tough, buyers with some downpayment can get a good interest rate and those with some money or gifted funds should consider an FHA loan.  Athough the home needs to be in good condition in order to qualify for an FHA loan. 

Visit my site to  search all homes for sale  in  Sacramento.  Or you can search speficially for Sacramento foreclosures to look for that bargain.  Just remember with the foreclosures is that many are priced to attract multiple offers and many sell for thousands higher than the list price.

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