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

Continuing in my quest to learn about the REO sales in the El Dorado Hills and Folsom, CA areas I present the sales data for May of 2008. The number of REO properties that sold in May increased by one from April.

The number of REO properties in May that were on the market for two weeks or less climbed to 48.1% while the number of properties that had been on the market for longer than 60 days decreased to 14.8% of those sold. Several were on the market for a very long time, skewing the Days on Market figure.

REO properties also continue to sell for less per square foot than do the general population of homes sold in the same area for May of 2008, 88.2% to be precise.

There are also a large number of REO properties that sold for at or above the final asking price. One would suspect that buyers are negotiating for additional funds to complete needed repairs and to cover closing costs.

Folsom/El Dorado Hills Sold REO Properties--May 2008
Original Listing Price @ SP as % SP as %
DOM Listing Price Time of Offer Sold Price Original Price Final Price
1 Fol 216 $267,900.00 $229,800.00 $229,800.00 85.78% 100.00%
2 Fol 12 $280,900.00 $280,900.00 $290,000.00 103.24% 103.24%
3 Fol 18 $339,900.00 $339,900.00 $305,000.00 89.73% 89.73%
4 Fol 3 $299,000.00 $299,000.00 $310,000.00 103.68% 103.68%
5 Fol 3 $339,900.00 $339,900.00 $320,000.00 94.15% 94.15%
6 Fol 45 $374,900.00 $369,90 0.00 $327,000.00 87.22% 88.40%
7 Fol 15 $324,900.00 $324,900.00 $334,000.00 102.80% 102.80%
8 Fol 4 $354,900.00 $354,000.00 $349,000.00 98.34% 98.59%
9 Fol 6 $319,900.00 $319,900.00 $350,000.00 109.41% 109.41%
10 EDH 6 $379,900.00 $379,900.00 $379,900.00 100.00% 100.00%
11 Fol 40 $375,900.00 $375,900.00 $380,500.00 101.22% 101.22%
12 Fo 28 $449,000.00 $429,000.00 $395,000.00 87.97% 92.07%
14 Fol 191 $403,900.00 $403,900.00 $400,000.00 99.03% 99.03%
15 Fol 4 $409,900.00 $409,900.00 $420,050.00 102.48% 102.48%
16 EDH 60 $459,900.00 $424,900.00 $425,000.00 92.41% 100.02%
17 EDH 0 $420,000.00 $420,000.00 $440,000.00 104.76% 104.76%
18 Fol 72 $499,900.00 $424,900.00 $441,000.00 88.22% 103.79%
19 EDH 9 $444,900.00 $444,900.00 $471,000.00 105.87% 105.87%
21 EDH 26 $524,900.00 $524,900.00 $507,000.00 96.59% 96.59%
22 Fol 4 $494,000.00 $494,000.00 $525,000.00 106.28% 106.28%
23 Fol 46 $625,000.00 $625,000.00 $575,000.00 92.00% 92.00%
24 EDH 358 $674,500.00 $607,050.00 $590,000.00 87.47% 97.19%
25 EDH 34 $619,900.00 $619,900.00 $619,900.00 100.00% 100.00%
26 EDH 10 $671,900.00 $671,900.00 $650,000.00 96.74% 96.74%
27 EDH 10 $924,900.00 $924,900.00 $924,900.00 100.00% 100.00%
AVERAGES 47 97.4% 99.4%

REO Sold Cost Per Square Foot: $ 179 (88.2%)
Total Sold Cost Per Square Foot: $ 203

Total Number of REO Homes Sold in May for area: 27 (21.6% of total)
Total Number of Homes Sold: 125