RealtyTrac today registers 358 properties in Pre-Foreclosure, 104 properties in Auction and 188 properties as Bank Owned (REO) in San Ramon zip code 94582.

In San Ramon zip code 94583 we find 392 properties in Pre-Foreclosure, 108 in Auction and 204 as Bank Owned Properties.

The big news on Friday from the National Association of Realtors was the inventory of unsold homes on the market climbed by 10.5% in April. The NAR also reposted an 8% drop in the medium home price and a 1% drop in sales.

Today, the Wall Street Journal is reporting that home sales are rising in some communities as lenders slash prices to move the rising inventory of bank owned properties on the market. The WSJ shows the medium price of a Contra Costa County home down 34% from a year ago and sales up 1.5% from April last year.

The WSJ is also reporting that almost one in five, or 18%, Realtors surveyed by the National Association of Realtors last year said they sold homes to international clients between April 2006 and April 2007.

For many foreign buyers, property in the U.S. is cheap. Foreign buyers also seem more optimistic about the long-term health of the U.S. market, says David Michonski, a certified international property specialist and chief executive of Coldwell Banker Hunt Kennedy in New York. "The foreign buyer has an unbridled confidence in the U.S. market that is lacking in the domestic purchaser today," he notes. "They view this as the bargain of a lifetime and are terribly excited about it."

We’ve been singing this tune for months now. The deals of a lifetime are out there right now for savvy buyers and investors.

If you are interested in foreclosures or bank owned properties, contact Craig (925) 984–4910. He heads up our efforts with foreclosures and distressed properties.

Investors should contact Paul (925) 963–4246. Being from The Netherlands, Paul offers foreing investors a great perspective on the value of investing in Bay Area real estate.