REO SALES DATA FOR EL DORADO HILLS & FOLSOM, CA--APRIL 2008

In my continuing quest to learn as much about REO property sales as possible, I present the sold data for Folsom and El Dorado Hills, CA. for the month of April 2008.

There has been the usual seasonal increase in activity overall. with 103 homes selling during the period. Of those, 26, or 25.2% of the sales were REO properties. The averave days on market increased markedly in April. There were quite a few long term REO listings that sold, although 38.5 % if the REOs were on the market for fourteen days or less.

Also noted is the fact that 42.3% of the REO properties sold for the asking price, OR MORE! Are buyers negotiating with the banks to get funding for repairs and upgrades?

Another interesting factor is that the price per square foot advantage for REO homes has lost ground against the cost per square foot for all homes sold. It has been consistently 11% - 14% lower. In April is was only 8.5% lower. You may draw your own conclusions.

Folsom/El Dorado Hills Sold REO Properties April 2008

Original Listing Price SP as % SP as %
DOM Listing Price at Offer Sold Price Original Final Price
1 Fol 3 $234,900.00 $234,900.00 $226,500.00 96.42% 96.42%
2 Fol 21 $289,900.00 $289,900.00 $260,000.00 89.69% 89.69%
3 EDH 234 $399,900.00 $320,900.00 $285,000.00 71.27% 88.81%
4 EDH 180 $299,900.00 $299,900.00 $290,000.00 96.70% 96.70%
5 EDH 103 $369,900.00 $299,900.00 $300,000.00 81.10% 100.03%
6 EDH 8 $315,000.00 $315,000.00 $294,900.00 93.62% 93.62%
7 Fol 3 $324,900.00 $324,900.00 $324,000.00 99.72% 99.72%
8 EDH 62 $264,900.00 $339,900.00 $330,000.00 124.58% 97.09%
9 Fol 211 $449,900.00 $419,900.00 $350,000.00 77.80% 83.35%
10 Fol 194 $345,000.00 $345,000.00 $355,000.00 102.90% 102.90%
11 EDH 22 $399,900.00 $399,900.00 $399,900.00 100.00% 100.00%
12 Fol 2 $399,900.00 $399,900.00 $400,000.00 100.03% 100.03%
13 EDH 30 $ 434,500.00 $434,500.00 $410,000.00 94.36% 94.36%
14 EDH 155 $529,900.00 $449,900.00 $445,000.00 83.98% 98.91%
15 EDH 233 $449,900.00 $455,000.00 $445,000.00 98.91% 97.80%
16 EDH 1 $449,900.00 $449,900.00 $449,900.00 100.00% 100.00%
17 EDH 5 $459,900.00 $459,900.00 $475,000.00 103.28% 103.28%
18 Fol 5 $484,900.00 $484,900.00 $494,500.00 101.98% 101.98%
19 EDH 152 $589,900.00 $514,900.00 $495,000.00 83.91% 96.14%
20 Fol 2 $504,900.00 $504,900.00 $504,900.00 100.00% 100.00%
21 Fol 13 $509,900.00 $509,900.00 $535,000.00 104.92% 104.92%
22 EDH 24 $535,000.00 $535,000.00 $550,000.00 102.80% 102.80%
23 EDH 99 $684,900.00 $609,900.00 $575,000.00 83.95% 94.28%
24 EDH 73 $598,000.00 $598,000.00 $590,000.00 98.66% 98.66%
25 Fol 51 $624,500.00 $609,900.00 $609,900.00 97.66% 100.00%
26 Fol 1 $709,900.00 $709,900.00 $725,000.00 102.13% 102.13%
AVerages 73 95.8% 97.8%

REO Sold Cost Per Square Foot: $184.00 91.5%
Total Sold Cost Per Square Foot: $201.00

Total Number of REO Homes Sold: 26 (25.2% of Total)
Total Number of Homes Sold: 103

My apologies for the alignment. I do not posses the skills to correct that problem.