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A Little Later than Normal...

By Lowell Caro Jr.

Real Estate Agent with Keller Williams

November 19, 2007 01:05 AM

OK, I'm getting slack on you guys! I was at a conference early last week and that put me behind the power curve for the rest of the week! Wow, I really didn't think that not being here would set me back so much!

Anyway, here are your numbers for this week, straight out of the MLS!

Lowell Caro, Jr. Your Real Estate Market Advisor

Weekly MLS Market Snapshot

As of COB: Monday, November 19, 2007 @ 6:45 am

Catagory	Number	Totals	Vacant	Percentages
SFR Inventory	21,856		10,146	46.42%
Condo Townhome Inventory	5,634		3,155	56.00%
Total		27,490	13,301	48.38%
Total Contingents and Pending	2,315		1,384	59.78%
Total		29,805	14,685	49.27%
Short Sales (EA/ER)	4,062		1,518	37.37%
Repos (estimated EA/ER)	2,012			N/A
Total Distressed		6,074		22.10%
Total Sold in last 30 Days	1,087		788	72.49%
Sold short sales		69		6.35%
Sold REOs		190		17.48%
Months of inventory at current rate of consumption (29,805/1087)			27.41950322

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Ryan Smith

South Texas Land Team, LLC. - Pleasanton, TX

Wow. Great Stats. Well not really. But at least you have a lot of inventory for buyers to choose from.

Nov 19, 2007 01:09 AM

Lowell Caro Jr.

Keller Williams - Las Vegas, NV

REO Broker and Market Advisor

Yeah thanks, I've been working out! ha ha ha! It is really a great time for buyers. I've been finding SMOKIN' deals, especially on bank repos...which did I mention are on the rise?

Nov 19, 2007 01:15 AM

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Lowell, my REO specialists in my area say there are good deals here too. They are even having some auctions coming up in December. I think the market will have turned when that inventory gets worked down. You are very good with the stats!

Nov 21, 2007 02:23 AM

Mike and Dawn Lewis

The Lewis Team at Keller Williams - San Diego, CA

The Lewis Team at Keller Williams in San Diego CA

Lowell,

Thanks for putting out the stats for your clients, home buyers and home sellers in your area and us too. The numbers don't look so great if your selling but if you're buying the choices look pretty good.

Mike Lewis

Nov 21, 2007 04:07 AM

Hey Gary, thanks for the comment. I have a couple of growing REO accounts myself and 3 of the last 4 buyer transactions I've done have been REO properties. I agree that we'll be able to see the market turning, but I don't think it will happens too soon. It may stabilize with more buyers seeing the opportunities and more REOs balancing each other out. But, if it doesn't happen that way, I believe that our inventory will increase before it decreases significantly. It may sound negative, but I see it as a positive thing. Home prices will be affordable again and MAYBE the market will stabilize for a while.

Mike, thanks for the comment as well. I want to grow up to be like you. The stats you put on your blog are great! I like the raw numbers but I need to work on the presentation!

Hope you both had a great Thanksgiving as well as everyone else out there in AR!!!

Nov 24, 2007 03:30 PM

Renée Donohue~Home Photography

Savvy Home Pix - Allegan, MI

Western Michigan Real Estate Photographer

A little later than normal but I think I pulled numbers the same day! Cheers to great minds thinking alike and I love to see the stats in a different format!

Nov 29, 2007 01:59 PM

A Little Later than Normal...

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