Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley July 16 2009

Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley July 16 2009
As reported there is a 6.4% increase in prices in the resale for June 2009. This spike we believe is due to the non-release of over 1,000,000 foreclosures the banks are holding. Why are the bank holding on we can only speculate, government involvement? Banks are waiting for prices to push up? New programs are being putt into place and that takes time to implement. How may are of these are pre-foreclosures and are going to be sold short, we trust many more short sales are coming into the mark as phase 2 of the government mandate to first try to modify the loan. Step two, sell short and lastly foreclose.

If you have been on the sidelines hoping to jump into the market when it has hit the bottom, we believe we are there in the greater Antelope Valley, Palmdale - Lancaster area. As a niche market in northern Los Angeles County with price discounted as much as 60%.... Now is the time…

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	2
Price Increases	1
Price Reductions	13
Pendings	24
Solds	27
Expireds	10
Inactives	5

Month to Date and Projected open Escrows*

Total Active	1,194
Total Active Core Area	821
Total Active REO's	219
Total Short Paids	350
Pending MTD/Projected	277	/ 655

Absorption Rate*
Current Month 1.5 Months
At Last Months Rate 1.2 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.