Real Estate Trends - Palmdale, Lancaster, Anaverde and the Greater Antelope Valley February 26 - 2010

Real Estate Trends - Palmdale, Lancaster, Anaverde and the Greater Antelope Valley February 26 - 2010
Who benefits from the Short Sale?
Short sales are a win-win situation. Lenders, Mortgagees and Realtors all benefit from the successful short sale. Mortgagors get the majority of their money back, Mortgagees get the relief they need and are able to sell their property and avoid foreclosure, and Realtors can facilitate the transaction and receive compensation (commission the bank pays) from the sale of the property.

Why would banks forgive the difference?
To mitigate their losses, banks often accept a settlement of less than what is owed on the property. When faced with the option of getting the property ‘back’ through foreclosure, a short sale often makes a much wiser business decision for the bank.

This sounds too good to be true!?
Not really. Things that are ‘too good to be true’ usually don’t make good economic sense. The short sale makes good common and financial sense for the banks who grants them. The fact of the matter is, Mortgage companies and banks are NOT in the real estate business. They are in the LENDING business. The last thing they want is that property back.

Keller Williams Realty AV Ranked #1 in the Antelope Valley

Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures

Monthend Numbers

	Jan '10	Dec '09	Nov '09	Oct '09	Sep '09	Aug '09
Listed	691	598	756	659	701	691
Pending	556	507	667	593	725	564
Sold	369	517	565	549	564	61

Dailys* Statistics track the current Real Estate Market in the Antelope Valley, Palmdale & Lancaster.

New Listings	50
Back on Market	9
Price Increases	8
Price Reductions	17
Pendings	22
Solds	15
Expireds	5
Inactives	8

Month to Date and Projected open Escrows*
Total Active	1,357
Total Active Core Area	919
Total Active REO's	235	10	Added
Total Short Sale	295	3	Added
Pending MTD/Projected	547	589	58.0%
Sold MTD	317	341
Sold Last Month	369	-7.5%
Last Year Month	600	-43.1%
Active Listing Mix
REO % of TTL	25.6%
Short Sale % of TTL	32.1%
REO+SS % of TTL	57.7%
Normal % of TTL	42.3%

Absorption Rate*
Current Month 1.6 Months
At Last Months Rate 2.1 Months

Historical High Active Listing - 5300+ Mid 2007

Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you! Call us today. If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

(Quick Mapping Links for Core Areas)
Palmdale Lancaster Ana Verde Ritter Ranch Quartz Hill Leona Valley Lake Hughes Lake Elizabeth

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping. All figures are Single Family Residential only.