Oakland Duplex Sales and the Next REO Wave

Checking out the current sales stats in the West Oakland and East Oakland zipcodes of 94601, -03, -07 and -21 we find that sales have skyrocketed this year over last, due to plummeting prices ($180,000 median Mar '08 v. $138,000 Mar '09). The result is that there is only a TWO months supply of duplexes on the market in these hot areas. So, although inventory is currently low, another REO wave is about to break. The various moratoria are about to be lifted, sending a large inventory of new properties to the market. Look for this in early to mid-May.