Just did a check on how the market in my area is doing. I work out of Mission Viejo, CA Population is over 95,000
Total active on the market for
3/15/10- - 313 all homes. 5/13/10- - 349 all homes.
Short Sale Acti ve
3/15/10- -105 out of 313 5/13/10- - 118 out of 349
REO Active
3/15/10- 12 out of 313 5/13/10- - 19 out of 349
In Default Active properties
3/15/10- - 2 out of 313 5 /13/10- - 1 out of 349
In Probate this month are 2 property
That leaves 209 out of 349 as equity sellers for 5/13/2010
March in Mission Viejo wasn't looking good but that can be explained because there were more short sales on the market than standard sales. Equity sellers put their houses on the market in early spring, so we now have a larger inventory on the books for April and May. We are showing close to the same total of distressed properties on the market in May with only 137 out of 349. There is about the same percentage of equity sellers on the market now than had been in March. Equity sellers are at 59% of the market for Mission Viejo, CA
Did a check on what was sold during this same 2 month period and how many days they were on the market.
Sold REOs 3/15/09 to 5/13/10 total of 22 and average DOM 39
Sold Short Sales 3/15/10 to 5/13/10 total 50 and average DOM 128
Sold Standard Sales 3/15/09 to 5/13/10 total 119 and average DOM 64
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