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Simi Valley, CA, REO Market Report 3rd Quarter 2008, bank owned, foreclosures, homes, houses

By Rudy Detgen

Real Estate Agent with Troop Real Estate Inc.

October 12, 2008 12:10 PM

Simi Valley, CA, REO Market

Report 3rd Quarter 2008

Month of July
REO, Bank owned
Residential
Sold Properties: 48
Averages
Days on Market: 45
Square Feet: 1802
$/sq.ft.: 239.51
Original List Price: 442,137
List Price: 425,818
Sale Price: 415,710
SP%LP: 97.63
High: 975,000
Low: 165,000
Median: 387,500
REO % Sold Units: 49

Month of August 
REO, Bank owned
Residential
Sold Properties: 38
Averages
Days on Market: 53
Square Feet: 1783
$/sq.ft.: 235.59
Original List Price: 427,093
List Price: 410,147 
Sale Price: 405,892
SP%LP: 98.96
High: 770,000
Low: 179,000
Median: 385,000
REO % Sold Units: 43

Month of September 
REO, Bank owned
Residential
Sold Properties: 44
Averages
Days on Market: 47
Square Feet: 1601
$/sq.ft.: 228.75
Original List Price: 381,660
List Price: 364,237
Sale Price: 359,992
SP%LP: 98.83
High: 870,000
Low: 157,000
Median: 342,500 
REO % Sold Units: 47

Analysis: Days on market remaining stable averaging 48 days.
            Cost per square foot is still decreasing.
            Original list prices still decreasing.

New statistic was added:
            Percentage of sold units that were REO.
            Averaging a whopping 46%!

Prepared by:
            Rudy Detgen, Realtor
            Troop Real Estate
            Simi Valley, CA
            RDETGEN@SBCGLOBAL.NET


all data deemed reliable but not guaranteed

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