Not much has happened in the Land Park area of Sacramento and that might be a good thing. While a year ago at the same time, there had been no foreclosures for sale and only one short sale, this year we see two foreclosures sold and no short sales. This is a good thing. Calm and quiet in a certain neighborhood – in terms of real estate, especially – might be just what we need for prices to stabilize.

Unfortunately for Land Park residents, the neighborhood is not completely immune to the rest of Sacramento county. Although the majority of properties that sell here are non-distressed (85.7%) the price per square foot has still fallen 18.7% over last September. It now stands at $284.63 per square foot. The average sales price is now $382,786 – a drop of 17.8% over last September’s average.

There might be some real opportunties for buyers looking for a bargain in Land Park in the short sale category if lenders are willing to work with the sellers. In a relatively stable neighborhood such as this, there are currently 12 short sales and 2 foreclosures listed. Inventory for all sales currently sits at 5 months.

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