Winding doen 2009 and looking forward to the future you have to know where you have been if you want to know where you are going.
Planning my marketing and business plan for 2010, as an REO Listing Agent, I have taken the opportunity to examine how many REO Listings we (as a market - not my personal production) have had assigned just in the city of San Jacinto, CA, going back to January 1st, 2007.
By looking at the above chart it is apparant that from May of 2008 through May of 2009 that there was more than enough business to keep everyone happy and busy. The peak in assignments was October, 2008 with 158 REO homes for sale hitting the MLS, for the San Jacitno CA Real Estate marketplace. Since then there has been a steady decline with only a few peaks to stop the slide completely...to the point where we are at 56 or only 35.44% of the business assigned to this market, just 15 months earlier.
Looking at the City of San Jacitno Real Estate Inventory, as of this moment in time, there are a total of 228 active listings in the MLS of which only 50 are bank owned REO properties for sale - these are the homes that are realistically for sale and will sell, without a doubt. Then there are 127 Short Sale Listings - based on current trends, it is safe to assume that 10% of these will
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