The challenging thing for the local market with coming foreclosures is that prices tend to go down when there are more listings put out on the market (that is, too many listings). Foreclosures are distressed properties and when there is a surplus of supply, in addition to banks wanting to quickly sell off their inventory to cut losses, prices tend to be more aggressive. This is not always the case, but it is seen throughout the market and surely is a factor locally.

Can you keep a house rented? Well, one thing about this market is that there are more and more people who need to rent because they have lost houses due to foreclosure. There is definitely a demand for renting. Additionally, there are many investors purchasing properties in Rancho Cordova right now. It is more and more common to see all-cash deals or a good amount of cash put down. This is often on houses closer to the $100,000 level and not so much the upper end of the market.

The most challenging thing about renting or owning right now is the economy. Keeping jobs and income flowing into the household is a big challenge for many households and will be a factor for people in many different markets.

Let me know if you have further questions.