Do Special Conditions of Sale Affect Salabilty?

While writing my last post it occurred to me that also tracking closings per type of “special condition of sale” would be an interesting exercise.

As of today our MLS is showing 4,305 listings [Reno-Sparks residential]. Breaking out these by the new “Special Condition of Sale” field yields:

"Special Conditions of Sale"
Reno-Sparks Residential Listings
April 24, 2008
"Special Condition of Sale"	#	%
Bank Owned	409	9.5
Relocation	20	0.5
Short Sale	503	11.7
Subject to Court Approval	24	0.6
Other	273	6.3
None	2,869	66.6
Not yet specified	207	4.8
total	4,305	100.0

Just as I plan to do with the Pendings tracked in my last post, I will monitor these listings for 30, 60 and 90 days and report on how many have closed. My goal is to get a handle on the types of sales that have a higher propensity of closing.

Posted by Guy Johnson, MBA, EcoBroker on 04/28/2008 08:15 PM

Comments (4)

reno, homes, housing, market

This post has been included in Nevada Information Washoe County, NV Information Reno, NV Information

4 Comments on Do Special Conditions of Sale Affect Salabilty?

I've done this before while teaching my Real Estate Licensing class. Usually my message is "Not every seller sells with the same motivation."

04/28/2008 08:23 PM

by Blogger To Be Named Later

I look at those numbers and say it is time to become a short sale expert in your market. I will be interested to see the results of your study.

04/28/2008 08:28 PM

by Chris Compton (RE/MAX Greater Atlanta)

Excellent resource- I wish I had a handle on how to do easily do these kinds of charts in my own market!

04/28/2008 08:46 PM

by Bo Buchanan, Blue60.com Directory for Real Estate Pro's & IllinoisHouseHunter (Blue60.com & Kettley Realtors)

Even with your tracking, the conditions are sometimes more site and/or seller/buyer specific than stats will indicate or recognize.

04/28/2008 08:55 PM

by Heath Coker, Broker Owner (Cape Group Real Estate & REindex.com)

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Real Estate Agent: Guy Johnson, MBA, EcoBroker (Chase International)

Guy Johnson, MBA, EcoBroker
Reno, NV
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Chase International

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I regularly contribute to the Reno Realty Blog. This popular blog describes itself as "Musings on the Reno Sparks real estate market". Find it here: Reno Realty Blog

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