Comments Off | Saturday, July 11, 2009
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”