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2012 in California
 2012 in California
In case you didn't see a release from the California Association of Realtors on November 1, the numbers they released confirms that which we are seeing now every day.
"Well qualified buyers are recognizing the once-in-a-generation opportunity to purchase a home in California and are jumping into the market," said C.A.R. President LeFrancis Arnold. "However, the fierce market conditions have forced many buyers to compete with all-cash offers and investors, setting off multiple offers and bidding wars, making it even more difficult for first-time buyers to become homeowners."
·Nearly six in 10 homes are receiving multiple offers in 2012, the highest level in the past 12 years.
·Seven of 10 REO sales/short sales received multiple offers while only half of equity sales received more than one offer.
· 41 percent of homes are selling without a markdown from the asking price, the highest level since 2005.
· In 2012, homes are selling faster with equity sales selling in 32 days compared to 67 days in 2011.
· REOs are selling in 30 days compared to 50 days in 2011.
·Short sales are taking 90 days compared to 141 days in 2011.
· 16 percent of sales ... more

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