Are lenders relaxing FICO requirements? We believe it is starting right now. We have seen the average credit 
(FICO) score required to get a home loan at about 700. This is higher than scores needed before to the collapse and has remained for about a year or so. Also surviving loan broker’s shows FICO scores have been holding steady for the last 3 quarters. Now we are seeing scores under 680. Additional market indicators also see the home loan stabilizing and show some softening of lending standards and a relaxing of credit availability.
Lenders have upped the amount from 3.2 times the income of the borrower to 3.5 times currently. They are also backing off on the loan to value which have been around 75% and now a much as 83% LTV. This is great news for buyers as lenders are loosening some requirements and opening up more capital. As we move into the home buying season easing of credit will help but I believe it won’t impact prices much.
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation…Short Sale
| Monthend Numbers | |||||||||||||
| Jan '12 | Dec | Nov | Oct | Sep | Aug | July | June | May | Apr | Mar | Feb | Jan '11 | |
| Listed | 601 | 599 | 732 | 797 | 813 | 679 | 631 | 646 | 620 | 561 | 690 | 443 | 550 |
| Pending | 581 | 522 | 572 | 568 | 585 | 542 | 468 | 502 | 518 | 487 | 504 | 414 | 392 |
| Sold | 416 | 476 | 467 | 557 | 545 | 413 | 369 | 392 | 374 | 384 | 389 | 299 | 297 |
| % CHG Month over Month | |||||||||||||
| Listed | 0.3% | -22.2% | -8.9% | -2.0% | 16.5% | 7.1% | -2.4% | 4.0% | 9.5% | -23.0% | 35.8% | -24.2% | |
| Pending | 10.2% | -9.6% | 0.7% | -3.0% | 7.4% | 13.7% | -7.3% | -3.2% | 6.0% | -3.5% | 17.9% | 5.3% | |
| Sold | -14.4% | 1.9% | -19.3% | 2.2% | 24.2% | 10.7% | -6.2% | 4.6% | -2.7% | -1.3% | 23.1% | 0.7% | |
| % CHG Current Month over Same Month Last Year | |||||||||||||
| Listed | 8.5% | 7.3% | 20.9% | 32.1% | 21.0% | -1.9% | -7.0% | -2.0% | -0.6% | -27.6% | -6.1% | -57.3% | -25.6% |
| Pending | 32.5% | 23.0% | 27.3% | 32.7% | 9.4% | 8.3% | -1.5% | -15.3% | 5.4% | -43.3% | -34.3% | -50.5% | -41.8% |
| Sold | 28.6% | 11.3% | 25.5% | 38.8% | 10.8% | 9.0% | -11.7% | -19.6% | -11.5% | 14.8% | -31.6% | -21.1% | -24.2% |
Current Statistics tracking the Real Estate Market in the Antelope Valley, Palmdale & Lancaster Core areas. Homes For Sale
| Month to Date and Projected Opened Escrows* | |||
| Total Active | 1,472 | ||
| Total Active Core Area | 1,065 | ||
| Total Active REO's | 203 | ||
| Total Short Sale | 448 | ||
| Pending MTD/Projected | 383 | 411 | |
| Sold MTD/Projected | 266 | 286 | |
| Percent Sold Over List Price | 48.87% | ||
| Sold Last Month / % of Difference | 416 | -31.32% | |
| Last Year Month / % of Difference | 297 | -3.80% | |
| Active Listing Mix (Core) | |||
| REO % of TTL | 19.06% | ||
| Short Sale % of TTL | 42.07% | ||
| REO+SS % of TTL | 61.13% | ||
| Traditional Sale % of TTL | 38.87% |
Absorption Rate*
Current Month 4.2 Months
At Last Months Rate 6.9 Months
Historical High Active Listing - 5300+ Mid 2007 - Within the last 3 years our Low Active Listing were under 700 in Nov '09
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 by the National Association of Realtors® (SFR) and is ready to help you with your situation Short sale Help. She can Stop Foreclosures Now!
(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.
Keller Williams Realty AV Ranked #1 in the Antelope Valley 661.733.0508 to list your home.
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