Single Family Residential
Actives: SBC~184 of which REO~35 or 19%
HO~101 of which REO~30 or 30%
Pendings: SBC~215 of which REO~87 or 40%
HO~192 of which REO~79 or 41%
Absorption Rate: SBC~.86 HO~.53 months supply of inventory
Sold’s for the week: 18
High: $560,000 ~ REO, New Conv. 1st
Low: $140,000 ~ REO, FHA Loan
Full-Price or Over-Asking: 12 or 67%
REO~14 or 78%
Short Sale~2 or 11%
Equity Sale~2 or 11%
New Conv. 1st~9 or 50%
FHA Loan~6 or 33%
VA Loan~2 or 11%
Cash~1 or 6%
There you have it. Still nearly 70% of the Sold’s were at full price or above.
In the lower price ranges multiple offer’s are still the order of the day. Buyer’s must be prepared to put their best foot forward if they find something they really like.
I hear from other agents everyday they sometimes write 10 or more offer’s for a buyer before they get one accepted.