Short Sale Inventory Report - May 2010

By
Real Estate Agent with RE/MAX Realty 100

Short sales has become a vital part of the real estate market. As of 05/1/10, the short sale inventory in Chino is as high of 50% of all houses for sale (see chart below).

For under water homeowners who are considering a short sale, please contact me. I am an experienced short sale agent who can help you sell the house fast and successfully.

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Rainmaker
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Lynn Krogseng
Keller Williams Premier Partners - Vancouver, WA

Wow - our area, Clark County, Washington, has about 30% short sales in the available market.  Very interesting to see 50% - that's got to have a big effect on prices. 

May 10, 2010 12:57 PM #1
Rainmaker
36,900
Caroline Chai
RE/MAX Realty 100 - Diamond Bar, CA

Hi Lynn,

Yes, that's why we are seeing 50%-70% off from purchase price in 2006.  Neverthless, the demand is still very high making inventory level below one month supply in Chino. 

Investors are moving in.  At today's price, it is consider very good deal as investment property.  Since most homes were built in 2000-2010, it is very easy to rent out new homes making them ideal rentals with good return rate in Southern California.

May 10, 2010 01:07 PM #2
Rainer
365,752
Constantine Isslamow
Century 21 United Realty Inc. - Peterborough, ON
"Training and Accountability"

Pricing I would think will be a challenge moving forward.

May 10, 2010 01:42 PM #3
Rainmaker
36,900
Caroline Chai
RE/MAX Realty 100 - Diamond Bar, CA

Hi Constantine,

I do hope so.  The price dropped about 10% to 15% last year due to the large quantity of short sale and REO properties.  Despite of already low prices, I am still seening unbelievable listing price on short sale properties.  It will only be final if the bank approves the short sale price.

May 10, 2010 02:46 PM #4
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Rainmaker
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Caroline Chai

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