"Statistics are like bikinis. What they reveal is suggestive, but what they conceal is vital." ~Aaron Levenstein Home Sales August 2009 Sonoma County!

All Listings-The REO and Short-Sale segments below are NOT in addition to these numbers but are simply what COMPRISES or makes up, these base numbers!

Base Numbers:    #      DOM (Days on the market)              Median Home Price

Actives:                  1506 DOM: 121                                     $625,000 Median

CTS:                      1087  DOM: 116                                    $299,000

Pend:                    226    DOM: 103                                    $315,000

Sold:                     450    DOM: 101                                    $325,000

Sold'08:                 466    DOM:  93                                    $355,000  ONLY down 8.5% over last year! Good News Here! Compare this  to the historic 25-30% slips of the past few years!! Can you spell "Bottom"??But wait! If the REO market comes roaring back count on this number to falter and fall. That's IF the Asset Managers insist on "dumping" inventory.

REO:

Actives:                  126    DOM: 41                                     $281,200  Median

CTS:                      146    DOM: 45                                     $256,200

Pend:                     63     DOM: 44                                     $196,500

Sold:                      151    DOM: 55                                    $251,300  Down 18% over ‘08

08 Sold:                 202    DOM: 68                                     $305,450  Sales down 25% over ‘08

 Short-Sale:

Actives:                  162   DOM 95                                       $335,475  Median

CTS:                      658!!DOM 143                                      $275,000

Pend:                    71     DOM  166                                    $280,000

Sold:                     79     DOM: 177                                    $276,700

08 Sold:                49     DOM: 151                                     $340,000 down 19.5% from '08 

 Conclusions:  

•·         Sales for SS are UP 62% from '08 but are the lowest since March of '09 and down from the "historic" high of 107 in June.

•·         Days on the market for SS still BIG. A smidgen under 6 months!

•·         If you do short-sales only you'd better have it down! The high DOM time is most likely due to Realtor/Agents taking on "SS" that just won't ever close, no hardship, no insolvency, just a disgruntled homeowner and/or NOT KNOWING how to process the sale.

•·         Look at how high the Median is for ALL Active Listings: A whopping $625,000 reflective of the skinny inventory of the REO and Short-Sale markets!

•·         The proof though is in the Pendings AND Sales!

•·         Lack of REO inventory is causing much frustration amongst Buyers AND their Realtors! The competition is making Realtor/Agents bid way over the asking just to get looked at!

•·         The Asset Managers are getting hip to the "overbid" ploy and some Reo Agents are being told to have the big offers be prepared to either remove their "appraisal contingency" at offer acceptance or have their earnest money deposit be forfeited should they NOT get the appraisal!

•·         Short-Sales once again account for a staggering 60+% of ALL CTS!  But ONLY 17.5% of Sales!!

•·         Nothing to really "hang your hat on" as far as the amount of Shorts being completed.