I am still unable to get MLS statistics for the Inland Valley Board of Realtors they have not updated their data since December 2007. As soon as this data is available I will analyze and report on it.
We continue riding along a low point in the market, only time will tell if this condition continues in the Inland Empire of California. This comment is made from my observations from the street and in tracking foreclosure and individual city activity, watch out though as SB 1137 may change the numbers in the short term.
Statistics and Analysis
Inland Valley Board of Realtors data is presently not available.
Some stats from Foreclosureradar.com about Notice of Defaults (NOD's), Notice of Sales (NOS's) and Foreclosures in San Bernardino County. NOD's and NOS's continue to be running at very high levels. NOD's are have increased 4.3% from last month and up 110.1% from last year. NOS's are up 2.7% from last month and up 233.8% from last year. The real tell of the condition of the foreclosures is the percentage of NOS's that are canceling, presently we are at 11%, during stable or appreciating markets it is as high as 60%.
Notice of Defaults Notice of Sale Cancellation of Sale
January 07 4,033 1,981 315
February 08 3,496 1,352 225
March 08 4,035 2,615 246
April 08 4,150 2,982 318
May 08 4,106 3,365 292
June 08 4,281 3,451 391
Overall, my opinion is that this market will continue to slide downward for some time. Between September and February of 2009 we will really see a blood bath. SB 1137 may have an impact on the numbers in the short term but since it did not provide any real help to the homeowners it will just delay the inevitable.
For complete County by County analysis in the Inland Empire, go directly to Empire Realty's market blog, this is where we break down the analysis in further detail.
It's important to stay in tune with the changes in the market. Call Empire Realty for your next personal real estate consultation at (909) 579-6611, or visit us on the web at Empire Realty.
Empire Realty where Superior Full Service at a Discount Lives!!!
Take a look at our Marketing Plan.
We are the Internet experts, with Featured and Enhanced Listings n Realtor.com and total exposure at over 25 different on-line home sites you know your home will get to a Buyer. If you are buying or selling in La Verne, Claremont, Upland, Alta Loma, Rancho Cucamonga, Fontana, Mira Loma, Corona, Riverside, Chino, Chino Hills, Ontario, Montclair or anywhere in the Inland Empire, call Empire Realty for premium full service and information at a discount.
Comments(0)