Walnut Creek California Real Estate
Here's the latest on foreclosures and real estate trending in Walnut Creek, CA
In general, you might say, that the Walnut Creek real estate market has something for everyone. You want doom and gloom, you can find a pocket or two of doom and gloom in Walnut Creek. You want clear skies and smooth sailing – well, now you're asking too much, but there are some neighborhood pockets where Chicken Little would feel out of place.
Yahoo Foreclosures shows the following number of Walnut Creek homes in the foreclosure process:
- 94595 = 12
- 94596 = 48
- 94597 = 60
- 94598 = 33
The majority of Yahoo's figures reflect Notice of Defaults, the first step in the foreclosure process. Most NODs do not result in foreclosures (though the percentage is up due to current conditions)
RealtyTrac shows the following for Walnut Creek, CA.
|
Zip Code |
Pre-Foreclosure |
Auction |
Bank Owned |
|
94595 |
378 |
121 |
241 |
|
94596 |
368 |
115 |
232 |
|
94597 |
378 |
121 |
241 |
|
94598 |
440 |
119 |
273 |
The figures for zips 95 & 97 are identical, so I think RealtyTrac’s program is seeing these as identical areas. If we ignore 94595, we have a total of 1186 Walnut Creek homes in pre-foreclosure, 255 in the auction process, and 746 banked owned properties in Walnut Creek.
The number of homes escrows being closed in Walnut Creek averages 5 to 10 a week since last October (these are resales not new home sales). At that rate, we would be lucky to see the existing difficulties cleaned up by the end of 2008 even if no new distressed inventory entered the market.
Walnut Creek is an excellent buyers market. The community has a great deal to offer couples and families. The commute from Walnut Creek into Oakland, Berkeley, or San Francisco is relatively easy due to the city’s location at the crossroads of 24 and 680. And of course, we are all feeling better now that Neiman Marcus may come to the Broadway Plaza.
