Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley July 14 2009

Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley July 14 2009
The start of another week in the greater Antelope Valley, Palmdale Lancaster area is not more of the same as Short Sales have taken over as the major type of available homes to purchase. As in my previous post two large banks have signed on to an internet based system styled after the REO model. We are projecting an increase in short sales in the Palmdale, Lancaster area to reach into the thousands over the next 12 to 18 months.

The system will streamline the notoriously slow Short Sale process to a more reasonable timeframe. Thus making both the seller (Bank) and the buyer much happier with the entire buying experience overall.

If you are looking to buy that dream home in the Antelope Valley you wait will be coming to and end soon as these Fast Track Short Sales come into the market…

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.

Dailys*

New Listings	38
Back on Market	14
Price Increases	4
Price Reductions	12
Pendings	27
Solds	42
Expireds	7
Inactives	11

Month to Date and Projected open Escrows*

Total Active	1,240
Total Active Core Area	847
Total Active REO's	236
Total Short Paids	354
Pending MTD/Projected	227	/ 582

Absorption Rate*
Current Month 1.7 Months
At Last Months Rate 1.3 Months

Historical High 5300+ Mid 2007

Team O'Brian 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/.

(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.