I would guess that more than 80% of all sales are REO’s (bank owned properties) and most real estate professionals are learning how to work with the banks and asset managers. As I prepare CMA’s (competitive market analysis) for my clients the MLS data clearly shows an increase of pending sales and sold sales, but the sales prices are very low. 

It is very sad that many families have lost their home, but now there is an opportunity for many other Stockton home buyers. Very good financing is available using a 30 year fixed rate FHA (Federal Housing Administration) loan and the down payment is only 3%.