California

REO (BANK OWNED) SALES DATA FOR EL DORADO HILLS, CA OCTOBER-2009

11-20-09

Mike West

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Office: (916) 337-0658

Mobile: (916) 337-0658

El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR OCTOBER 2009

This is a continuation of my monthly report on Bank Owned home sales for El Dorado Hills, CA. This report covers REO homes sold in October of 2009, the latest in my study of over two years.

There were 22 REO homes sold in October, up from 14 in September. The average days-on-market jumped to 43, up from the record low of eleven days in September. There were three homes that sold in October that had been on the market for 249, 127 and 108 days respectively, which had an effect on this statistic. Of the REO homes sold, 31.9% were on the market for two weeks or less.

The 22 homes sold represent 40% of all homes sold in El Dorado Hills.

Bank owned and Short Sales represent a majority of the home sales in today's market.

The cost per square foot of REO homes in October decreased to $ 149, down from $ 158 in September. The cost per square foot of all homes sold in October dropped twelve dollars, to $ 156.

The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO sales represented a 4.4% savings for REO buyers.

The overall sales price for REO homes was 101.9% of the final asking price. Only 36.4% of the REO homes that sold did so for less than the asking price.

At this writing there are 321 homes on the market in El Dorado hills, representing a 5.8 month inventory. We have edged into a seller's market.

The actual, measurable savings is the difference in cost per square foot between REO homes sold and the cost per square foot of all homes sold: in October, seven dollars per square foot. That is a $ 17,500 savings on a 2500 square foot home, still a tidy sum.

THe data follows:

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Follow Us on Twitter!

11-20-09

Robert Foust |North Orange County | Fullerton Real Estate | Brea Real Estate

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Office: (714) 626-2000 x345

Mobile: (714) 322-9097
Secondary: (714) 992-0170

The link is just off to the left! What's Twitter? Ok we think the way it's usually used is kinda wierd. We're not sure why anybody would want status updates of what others are always doing. Anyway, we have found a cool use for it and are going to use it to give our information-hungry clients the latest real estate information, hot properties for sale, and things they really really should know.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.

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REO (BANK OWNED) SALES DATA FOR FOLSOM, CA OCTOBER -2009

11-20-09

Mike West

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Office: (916) 337-0658

Mobile: (916) 337-0658

Folsom, CA REO (BANK OWNED) SALES DATA FOR OCTOBER 2009

This is a continuation two year study of Bank Owned home sales data for Folsom, CA. This report covers REO homes sold in October of 2009.

There were 19 REO homes sold in October, up from 11 in September. That is a 72.8% increase. The days-on-market increased from 20 in October to 27 in September. The primary reason for the increase is that one home that had been on the market for 156 days sold last month, skewing the average days-on-market figure. The fact that 52.7% of the REO homes sold in two weeks or less shows that REO homes are still selling quickly.

The 19 homes sold represent 27.6% of all homes sold in Folsom, within the normal range for this study.

The overall home inventory in Folsom is presently 250, a 3.6 month inventory, down from 4.7 in August, indicating a continuing strong seller's market. At this rate there will be a shortage of available homes very soon. A neutral market is considered a 6 month inventory.

The cost per square foot of REO homes in October decreased to $ 163, down from $ 170 in August. The cost per square foot of all homes sold in October decreased to $ 180, down two dollars from September. Prices are still trending downward but more slowly than in the past few years.

The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO sales represented a 9.4% savings for REO buyers.

The overall sales price for REO homes was 99.5% of the final asking price. In October only 31.6% of the REO homes that sold did so for less than the asking price!

However, the banks are still pricing these homes well and in September there was a seventeen dollar per square foot savings, compared to the cost of all homes sold. That is still a $ 42,500 savings on a 2500 square foot home, something worth considering when selecting a home.

The data follows:

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Sacramento County Sales Statistics

11-20-09

Jim Harris

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Office: (916) 801-3940

Mobile: (916) 801-3940

Hello Neighbors,

My apologies for the drop in blog activity.

We are just coming back up to speed after Strep Throat and Scarlet Fever ran through the household. Not much fun!

Blog activity will probably be slow until early December too, as we will be with family for Thanksgiving.

HAPPY THANKSGIVING to all of you!

Here's one bit of market data to keep you going...

In Sacramento County for the last month - 25.2% of home sales were funded with all cash. Roughly 27.6% of home sales were with FHA first time buyer type loan products.

39% of homes were bought with conventional loan products (likely using standards driven by FHA).

What does it mean?

A bit over half of the activity last month was a continuing battle between investors and first time Buyers.

I'm pulling for the first time Buyers!

Again, Happy Thanksgiving,

Jim

www.NeighborlyGroup.com

www.NeighborlyRealt.com

www.NeighborlyFinancial.com

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The Best Phone System for Real Estate Professioanls. This will Grow your Business.

11-20-09

Don Alexander

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Office: (619) 581-4255

Mobile: (619) 581-4255
Secondary: (619) 581-4255

Grow your Real Estate Business with the best communication system. This will make your Small Business have a BIG Business Presence. http://www.sysnito.com/?crid=11667&linkID=130

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