1/15/09: Here's a snapshot of the REO market in Fairfield as of the beginning of January 2009.
Items of note:
1.) Asking price and Selling price are merging: indicates that buyers and sellers both agree on price. This predicts the bottom of the market (for this segment in this market) as there is no downward pressure from buyers.
2.) Sales prices have adjusted downward dramatically over the last 6 months.
3.) Volume of REO activity has exploded - now dominating the market.
Questions or Copmments??? Call or email me...
Mitch Todd/Realtor
owner, Tam Realty
415-259-7082
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How about the increase of foreclosures and inventory, are these indicators of a bottom too?
Thank you,
Mike