No “Foreclosure Deluge” in South Lake Tahoe, CA… Yet!
(Lake Tahoe Real Estate Blog / January 26, 2011 / Richard Bolen)
Here’s an update of all South Lake Tahoe, CA home listings by month since Jan 1, 2010. The purpose this study is to detect any increases in foreclosure listings, and to see if there have been any notable changes in traditional home listing patterns.
The subtext of this, of course, is to determine if the sky is falling, which is the basis of much reported assertions and predictions of a foreclosure deluge that is sure to come. We have been seeing these predictions since the beginning of 2009; they haven’t come yet, which is not to say they never will.
There’s a chart below, and in it are the total homes for sale listings by month for 2010. Also are looks at the number of bank owned (REO) and short sales listed per month, and the percentage of distressed properties listed per month compared to home listings that were not distressed.
What’s interesting to us is there are still homes on the market that were listed in 2007 and 2008, and there are some 55 homes on the market for sale that were listed in 2008 and 2009.
The Bottom Line :
A study of South Lake Tahoe, CA homes for sale listings in 2010 reveals:
- There are no new distressed listings in 2011 as of today (Jan. 26, 2011).
- Listing volume follows traditional annual patterns: more homes for sale in the middle of 2010 than at the beginning or end.
- The incidence of bank owned and short sale listings has varied, rather than notably increased throughout 2010.
- For the most part, the volume of distressed listings generally follows traditional listing patters, however, with more in the middle quarters of 2010 than at either end.
- The greatest percentage of distressed listings was in the first three months of 2010 (Q1).
- The least percentage of distressed listings was in the second quarter of 2010 (Q2).
- The greatest number of distressed listings was in the third quarter of 2010 (Q3).
- The least number of distressed listings was in the second quarter of 2010 (Q2).
The Details :
2011 South Lake Tahoe, CA listings: (as of right now)
Bank Owned: 0
Short Sales: 0
Total number listings: 20
Lets look at South Lake Tahoe homes for sale listings by quarter for 2010 to date:
Continue reading “South Lake Tahoe, CA Distressed Property Listings by Month” on our main blog.
Previous Lake Tahoe Real Estate Blog posts:
Nov 23, 2010: South Lake Tahoe, CA Homes for Sale listings by month
Jul 1, 2010: South Lake Tahoe Foreclosures… no change yet.
May 11, 2010: Where is the new foreclosures deluge?
Nov 15, 2009: October Foreclosures down… what does it mean?
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