Appraiser Adjustment Matrix
Area Moreno Valley Date 11/23/2010
|
Square Footage |
0-3 Months |
4-6 Months |
Difference |
|
2800-3000 |
$235,000 |
$230,950 |
$4050 |
|
2600-2800 |
$223,000 |
$227,500 |
$-4500 |
|
difference |
$12,000 |
$3450 |
////////////////// |
|
2400-2600 |
$198,250 |
$216,000 |
$-17,750 |
|
difference |
$24,750 |
$11,500 |
////////////////// |
|
2200-2400 |
$206,000 |
$196,400 |
$9600 |
|
difference |
$-7750 |
$19,600 |
////////////////// |
|
2000-2200 |
$184,250 |
$188,950 |
$-4700 |
|
Difference |
$21,750 |
$7450 |
////////////////// |
|
1800-2000 |
$168,000 |
$172,500 |
$-4500 |
|
Difference |
$16,250 |
$16,450 |
////////////////// |
|
1600-1800 |
$165,500 |
$160,000 |
$5000 |
|
Difference |
$2500 |
$12,500 |
////////////////// |
|
1400-1600 |
$143,300 |
$140,000 |
$3300 |
|
difference |
$22,200 |
$20,000 |
////////////////// |
|
1200-1400 |
$130,000 |
$131,000 |
$-1000 |
|
difference |
$13,300 |
$9000 |
////////////////// |
|
Difference TOTAL |
$105,000 |
$99,950 |
$-10,500 |
|
Divide by 8 |
$13,125 |
$12,494 |
////////////////// |
|
Divide by 9 |
////////////////// |
///////////////// |
$-1167 |
|
Divide by 200 sq' |
= $ per Sq' $66 |
= $ per Sq' $62 |
////////////////// |
|
Divide by 90 days |
////////////////// |
///////////////// |
= $ per day $-13 |
Data used is median sales prices in the area - for either current to 3-months or 4-6 months; by house square footage ranges. In the gray boxes in the difference between the 2 median prices per the adjacent ranges. Data results: the difference in the most recent 3-month period per square foot was $66 (for the prior 3-month period $62 per square foot (= market derived square footage adjustment). And the data is showing homes are losing value between the 2 time periods at the rate of $13 per day (= a loss of almost $400 per month). Next chart shows the decline in the most recent 1-month period in the number of homes sold in 2009 (351) vs. 2010 (229) in Moreno Valley. Most of the current listings (50%) are short sales; last year in the same time period most of the sales were REOs - this year most sales are short sales. Short sales take the longest to sell, and the standard sales pull the highest prices. Prices year-over-year have increased; but the most recent data shows prices declining. Other research (listings vs. pending sales) finds we are approaching 5 months of standing inventory - about 1-year ago (12.7.2009) we had 2 months of inventory.
|
|
Total Number |
% Standard |
% REO |
% Short Sales |
||
|
Active Listings |
847 |
19% |
24% |
50% |
||
|
Pending Sales |
177 |
22% |
49% |
26% |
||
|
Closed Sales |
229 |
24% |
31% |
38% |
||
|
Sold 1-year ago |
351 |
15% |
58% |
24% |
||
|
Median sold prices |
Standard Sq' |
REO per Sq' |
Short per Sq' |
Standard DOM |
REO DOM |
Short sales DOM |
|
2009 |
$97 |
$82 |
$82 |
31 |
24 |
137 |
|
2010 |
$101 |
$89 |
$86 |
38 |
55 |
121 |
Comments (0)Subscribe to CommentsComment