Real Estate Trends - Palmdale, Lancaster, Anaverde and the Greater Antelope Valley May 20 - 2010
You may have heard or seen a report on a new flood of foreclosures coming. The data is showing owners have miss at lest one mortgage payment in the first quarter of 2010. There’re assuming these folks are going into foreclosure in the months to come, we beg to differ, we believe these “one missed payment” borrowers are actually being told by the bank to do so albeit indirectly. The home owner for whatever reason is working hard to make there payment and can’t they have tried for a loan modification and did not qualify.
Now the bank tells then to sell using the short sale option, however they need to be late, thus they miss a payment. In our local real estate market short sales make up 31+ percent of the market. We don’t see anything on the horizon to influence this trend and expect short sales to dominate the real estate markets as bank owned did in 2008.
Foreclosure is not an option! Call Janet today at 661.733.0507 for a private consultation concerning your options.
Don't Wait! The Sheriff could be knocking on your door next! Call to see if you can avoid foreclosure!
Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Pre-foreclosures
| Monthend Numbers | |||||||||
| April | March | Feb | Jan '10 | Dec '09 | Nov | Oct | Sep | Aug | |
| Listed | 716 | 732 | 697 | 691 | 598 | 756 | 659 | 701 | 691 |
| Pending | 698 | 677 | 623 | 556 | 507 | 667 | 593 | 725 | 564 |
| Sold | 327 | 512 | 362 | 369 | 517 | 565 | 549 | 564 | 612 |
| % CHG Month over Month | |||||||||
| Listed | -2.23% | 4.78% | 0.86% | 13.46% | -26.42% | 12.83% | -6.37% | 1.43% | |
| Pending | 3.01% | 7.98% | 10.75% | 8.81% | -31.56% | 11.09% | -22.26% | 22.21% | |
| Sold | -56.57% | 29.30% | -1.93% | -40.11% | -9.28% | 2.83% | -2.73% | -8.51% |
Dailys* Statistics track the current Real Estate Market in the Antelope Valley, Palmdale & Lancaster.
| New Listings | 24 |
| Back on Market | 8 |
| Price Increases | 2 |
| Price Reductions | 14 |
| Pendings | 17 |
| Solds | 23 |
| Expireds | 4 |
| Inactives | 4 |
| Month to Date and Projected open Escrows* | |||
| Total Active | 1,285 | ||
| Total Active Core Area | 866 | ||
| Total Active REO's | 216 | 4 | Added |
| Total Short Sale | 278 | 1 | Added |
| Pending MTD/Projected | 296 | 459 | |
| Sold MTD | 230 | 357 | |
| Sold Last Month / % of Difference | 494 | -27.83% | |
| Last Year Month / % of Difference | 743 | -52.02% | |
| Active Listing Mix (Core) | |||
| REO % of TTL | 24.94% | ||
| Short Sale % of TTL | 32.10% | ||
| REO+SS % of TTL | 57.04% | ||
| Traditional Sale % of TTL | 42.96% |
Absorption Rate*
Current Month 1.7 Months
At Last Months Rate 2.4 Months
Historical High Active Listing - 5300+ Mid 2007 - Within the last 3 years our Low Active Listing were under 700
Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you! Call us today. If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV
Janet O'Brian is a Certified Short Sales Specialist by the National Association of Realtors® (SFR) and is ready to help you with your situation please visit her web-site.
(Quick Mapping Links for Core Areas)
Palmdale Lancaster Ana Verde Ritter Ranch Quartz Hill Leona Valley Lake Hughes Lake Elizabeth
*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping. All figures are Single Family Residential only.
Comments(0)