Foreclosures in Town?
Posted by CityBlogCA on May 28th, 2007
Can anyone speak to the issue of foreclosures in Brentwood, California? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Brentwood?
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Before we speak about foreclosures in Brentwood, one must understand how we got to where we are today.
In 1997, Brentwood CA was the 2nd most rapidly growing city in the United States, behind Las Vegas NV.
As a rsult, with all of the new construction, prices lower than other cities in the area, and other factors, Brentwood wnet through a building boom unlike anything we had seen before. In 1980, Brentwood had about 6,000 residents. Today we have over 45,000.
Anyway, as of today (January 7, 2008) there are 200 active listings on the multiple listing service noted as bank owned, with more pending sale and more that have not yet been placed on market.
Prices are quite negotiable and the banks are taking offers that include requests for closing costs.
If you have any questions, please contact me.
John Case
Intero Real Estate
(925) 308-7045