Single Family Residential
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Actives: SBC~180 of which REO/Bank Owned~29 or 16%
HO~95 of which REO/Bank Owned~21 or 22%
Pendings: SBC~215 of which REO/Bank Owned~74 or 34%
HO~193 of which REO/Bank Owned~67 or 35%
Absorption Rate: SBC~.84
HO~.48 months supply of inventory
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Solds for the week: 10
High: $520,000 Equity Sale, Conv. 1st
Low: $159,000 REO/Bank Owned, Cash
Full-Price or Over: 5 or 50%
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Sale Type:
REO/Bank Owned~7 or 70%
Short Sale~1 or 10%
Equity Sale~2 or 20%
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Financing Type:
New Conv. 1st~4 or 40%
FHA Loan~5 or 50%
All Cash~1 or 10%
Market Update will be back next week….stay tuned!
Single Family Residential
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Actives: SBC~188 of which REO/Bank Owned~34 or 18%
HO~105 of which REO/Bank Owned~27 or 26%
Pendings: SBC~208 of which REO/Bank Owned~66 or 32%
HO~183 of which REO/Bank Owned~61 or 33%
Absorption Rate: SBC~.90 HO~.57 months supply of inventory
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Solds for the week: 10
High~$600,000 Short Sale, New Conv. 1st
Low~ $93,000 REO/Bank Owned, Cash
Full-Price or Over-Asking: 7 or 70%
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Sale Type
REO/Bank Owned~9 or 90%
Short Sale~1 or 10%
Equity Sale~0
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Financing Type
New Conv. 1st~4 or 40%
FHA Loan~4 or 40%
Cash~2 or 20%
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Wow! Kind of amazing that 70% of the Sold’s this week were at full price or over asking. It’s supply and demand….the inventory is low and the REO/Bank Owned inventory even lower. Interest rates remain very good and buyer’s are pressed to write their highest and best offer. Fishing a low ball offer usually just results in “The seller accepted another offer. Better luck next time”
Single Family Residential
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Actives: SBC~180 of which REO/Bank Owned~40 or 22%
HO~99 of which REO/Bank Owned~33 or 33%
Pendings: SBC~212 of which REO/Bank Owned~63 or 30%
HO~188 or which REO/Bank Owned~60 or 32%
Absorption Rate: SBC~.85 HO~.53 months supply of inventory
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Sold’s for the week: 14
High: $640,000 Equity Sale, New Conv. lst
Low: $167,000 REO/Bank Owned, New Conv. lst
Full-Price or Over-Asking: 10 or 71%
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Sale Type
REO/Bank Owned: 9 or 64%
Short Sale: 3 or 21%
Equity Sale: 2 or 14%
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Financing Type
New Conv. lst: 7 or 50%
FHA Loan: 4 or 29%
Cash: 3 or 21%
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Good numbers for a short week due to the holiday……everyone have a safe 4th of July holiday!
