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If you are one of the many bottom fishers looking to pick up a Santa Ynez Valley property at distressed prices, you might be interested in knowing that my recent analysis indicated that only 13.9% of our current inventory qualify as such. At this time, there are only 15 short sale and 8 REO (foreclosed) active listings. Click for a complete list of current short sales or foreclosures. Overall, distressed properties have represented a third to a half of all sales for different periods over the past year.
Our entire residential inventory is currently 169 properties; generally, this number is closer to 225 properties. I suspect that there are many Sellers waiting in the wings for the market to improve.