REO SALES DATA FOR EL DORADO HILLS & FOLSOM, CA JUNE 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 June of 2008. The number or REO properties in the selected area increased by three, for a total of 30.

Of the 89 homes sold in the selected area in June (down from 125 in May), 30 were REO properties. This is the first time since I started this study that REO sales exceeded one third of all properties sold. A number of older REO listings sold in June, increasing the average days-on-market number to 65, 18 more than in May. Eight of the 30 REO properties had been on the market for more than 100 days, three had been on the market more than 200 days.

REO properties continue to move briskly. Multiple offers are very common and buyers now find themselves in a position of having to make offers over the asking price if they want to beat their buyer competition. This is a considerable change from just a few months ago. In June 43.3% of the closed REO sales were for amounts over the asking price. The market has made a large adjustment.

Another change in June was the sold cost-per-square-foot for REO properties compared to the same number for all properties sold. There was only an 8% savings. Over the past months the savings ranged from 11% - 14%.

The data follows. My apologies for the data alignment.

Folsom/El Dorado Hills Sold REO Properties June 2008.
Original Listing Price at SP as % SP as %
DOM Listing Price Time of Offer Sold Price Original Price Final Price
1 Fol 113 $339,900.00 $315,900.00 $275,000.00 80.91% 87.05%
2 Fol 56 $305,900.00 $289,900.00 $278,000.00 90.88% 95.90%
3 Fol 48 $319,900.00 $289,900.00 $289,900.00 90.62% 100.00%
4 EDH 30 $285,500.00 $285,500.00 $300,000.00 105.08% 105.08%
5 Fol 235 $294,900.00 $294,900.00 $305,000.00 103.42% 103.42%
6 EDH 4 $334,900.00 $334,900.00 $334,900.00 100.00% 100.00%
7 EDH 53 $383,900.00 $344,900.00 $350,000.00 91.17% 101.48%
8 EDH 65 $420,000.00 $385,000.00 $366,000.00 87.14% 95.06%
9 Fol 51 $420,000.00 $389,000.00 $370,000.00 88.10% 95.12%
10 Fol 19 $395,000.00 $395,000.00 $376,000.00 95.19% 95.19%
11 EDH 87 $414,900.00 $399,900.00 $380,000.00 91.59% 95.02%
12 Fol 9 $414,900.00 $429,000.00 $395,000.00 95.20% 92.07%
13 EDH 114 $445,000.00 $404,500.00 $408,000.00 91.69% 100.87%
14 EDH 5 $425,000.00 $425,000.00 $425,000.00 100.00% 100.00%
15 Fol 64 $529,900.00 $529,900.00 $450,500.00 85.02% 85.02%
16 EDH 105 $554,000.00 $509,500.00 $475,000.00 85.74% 93.23%
17 EDH 208 $542,000.00 $519,900.00 $477,000.00 88.01% 91.75%
18 EDH 14 $459,000.00 $459,000.00 $485,000.00 105.66% 105.66%
19 EDH 7 $494,900.00 $494,900.00 $500,000.00 101.03% 101.03%
20 EDH 52 $519,900.00 $519,900.00 $514,000.00 98.87% 98.87%
21 EDH 18 $459,900.00 $459,900.00 $525,000.00 114.16% 114.16%
22 Fol 141 $534,900.00 $534,900.00 $540,000.00 100.95% 100.95%
23 EDH 227 $649,000.00 $649,000.00 $620,000.00 95.53% 95.53%
24 Fol 34 $675,000.00 $626,000.00 $630,000.00 93.33% 100.64%
25 EDH 6 $664,900.00 $664,900.00 $664,900.00 100.00% 100.00%
26 Fol 52 $729,900.00 $694,900.00 $665,000.00 91.11% 95.70%
27 EDH 113 $769,900.00 $731,405.00 $725,000.00 94.17% 99.12%
28 EDH 18 $776,000.00 $776,000.00 $765,000.00 98.58% 98.58%
29 EDH 12 $720,000.00 $720,000.00 $800,000.00 111.11% 111.11%
30 EDH 70 $1,023,000.00 $984,900.00 $900,000.00 87.98% 91.38%
Averages 65 92.5% 95.3%

REO Sold Cost Per Square Foot: $185.00 92.0%
Total Sold Cost Per Square Foot: $201.00

Total Number of REO Homes Sold in November for area: 30 33.7%
Total Number of Homes Sold: 89