Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley March 29, 2012
Things are going to be getting faster and faster for short sales, as the settlement between the 5 major banks and the state attorneys general go into effect. Requirements for short sales are being adopted by the five biggest mortgage servicers that should move the short sale process along faster, and better yet they have a bit built-in.
The servicer must let the borrower there are any needed documents missing within 30 day.
Servicers have 30 days to let the borrowers know what they decide on regarding the approval once they get the short sale request.
If a deficiency payment is needed the borrower immediately by the servicer and given a estimated amount of the deficiency.
An internal board must be established by the servicer to review all short sale that are requested.
And now the bit, if the servicer (bank) is in violation (taking longer then 30 days on more then 10% short sales requested) can be fined 1 million for the first one and 5 million for repeaters.
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation…Short Sale
| Monthend Numbers | |||||||||||||
| Feb | Jan '12 | Dec | Nov | Oct | Sep | Aug | July | June | May | Apr | Mar | Feb | |
| Listed | 561 | 601 | 599 | 732 | 797 | 813 | 679 | 631 | 646 | 620 | 561 | 690 | 443 |
| Pending | 495 | 581 | 522 | 572 | 568 | 585 | 542 | 468 | 502 | 518 | 487 | 504 | 414 |
| Sold | 308 | 416 | 476 | 467 | 557 | 545 | 413 | 369 | 392 | 374 | 384 | 389 | 299 |
| % CHG Month over Month | |||||||||||||
| Listed | -7.1% | 0.3% | -22.2% | -8.9% | -2.0% | 16.5% | 7.1% | -2.4% | 4.0% | 9.5% | -23.0% | 35.8% | |
| Pending | -17.4% | 10.2% | -9.6% | 0.7% | -3.0% | 7.4% | 13.7% | -7.3% | -3.2% | 6.0% | -3.5% | 17.9% | |
| Sold | -35.1% | -14.4% | 1.9% | -19.3% | 2.2% | 24.2% | 10.7% | -6.2% | 4.6% | -2.7% | -1.3% | 23.1% | |
| % CHG Current Month over Same Month Last Year | |||||||||||||
| Listed | 21.0% | 8.5% | 7.3% | 20.9% | 32.1% | 21.0% | -1.9% | -7.0% | -2.0% | -0.6% | -27.6% | -6.1% | -57.3% |
| Pending | 16.4% | 32.5% | 23.0% | 27.3% | 32.7% | 9.4% | 8.3% | -1.5% | -15.3% | 5.4% | -43.3% | -34.3% | -50.5% |
| Sold | 2.9% | 28.6% | 11.3% | 25.5% | 38.8% | 10.8% | 9.0% | -11.7% | -19.6% | -11.5% | 14.8% | -31.6% | -21.1% |
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 | 1,224 | ||
| Total Active Core Area | 866 | ||
| Total Active REO's | 157 | ||
| Total Short Sale | 326 | ||
| Pending MTD/Projected | 451 | 482 | |
| Sold MTD/Projected | 343 | 367 | |
| Percent Sold Over List Price | 41.27% | ||
| Sold Last Month / % of Difference | 308 | 19.04% | |
| Last Year Month / % of Difference | 389 | -5.74% | |
| Active Listing Mix (Core) | |||
| REO % of TTL | 18.13% | ||
| Short Sale % of TTL | 37.64% | ||
| REO+SS % of TTL | 55.77% | ||
| Traditional Sale % of TTL | 44.23% |
Absorption Rate*
Current Month 4.0 Months
At Last Months Rate 5.5 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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