Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley February 5 - 2010
For the first time in two years active resale home in the greater Antelope Valley is above 1,300, with active core over 900. Banks seem to be releasing some of their stockpile of REOs. Short Sale are keeping pace with the REOs at present.
With the First time buyer ($8,000) and repeater ($6,500) tax credit being extended through the end of April now is the time to make the jump and buy.
Heard on NPR “In the days before the housing crisis, the idea of a bank foreclosure filled a homeowner's mind with dread and shame. Now, with so many Americans owing more on their homes than they're worth, some people are taking a whole new approach: essentially saying, "Foreclose on me, please." It's more technically known as a "strategic default.”
You don’t need to let the bank foreclose you can sell for less than the balance of your loan and in many cases have a less significant hit to you credit score. A strategic default might make sense at first blush, however it will stick with you for years. Need to buy a car, can’t do bad credit, getting back into a home could take 10 years, Rent? With a short sale you will have a better shot at getting back your good credit sooner.
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures
Monthend Numbers
| |
Jan '10 |
Dec '09 |
Nov '09 |
Oct '09 |
Sep '09 |
Aug '09 |
| Listed |
691 |
598 |
756 |
659 |
701 |
691 |
| Pending |
556 |
507 |
667 |
593 |
725 |
564 |
| Sold |
369 |
517 |
565 |
549 |
564 |
612 |
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 |
41 |
|
| Back on Market |
6 |
|
| Price Increases |
3 |
|
| Price Reductions |
11 |
|
| Pendings |
32 |
|
| Solds |
22 |
|
| Expireds |
7 |
|
| Inactives |
6 |
|
Month to Date and Projected open Escrows*
| Total Active |
1,301 |
|
|
| Total Active Core Area |
908 |
|
|
| Total Active REO's |
256 |
8 |
Added |
| Total Short Sale |
264 |
5 |
Added |
| |
|
|
|
| Pending MTD/Projected |
103 |
577 |
66.0% |
| |
|
|
|
| Sold MTD |
68 |
381 |
|
| Sold Last Month |
369 |
3.2% |
|
| Last Year Month |
600 |
-36.5% |
|
Active Listing Mix
| REO % of TTL |
28.2% |
| Short Sale % of TTL |
29.1% |
| REO+SS % of TTL |
57.3% |
| Normal % of TTL |
42.7% |
Absorption Rate*
Current Month 1.9 Months
At Last Months Rate 2.5 Months
Historical High 5300+ Mid 2007
Richard & Janet O'Brian Real Estate Agents in California 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/. Or Keller Williams Realty AV
Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.
(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.
