Continuing on the subject of my previous post, here’s a look at the market composition of organic versus short sales versus bank REOs (Real Estate Owned – foreclosures or deed in lieu of foreclosures):
(click to enlarge)
So about 3/4 organic listings, 1/5 short sales, and about one in twenty are bank REOs.
Now take a look at the closed transactions over the past 30 days (from 10/14/09):
(click to enlarge)
Well, you can sure see where the action is - bank REOs. Only about one in twenty listings are REOs, but they disproportionately represented almost one in three of the total sales.
Surprisingly, it’s the organic sales that are most underrepresented. The proportion of short sale listings to short sale closings isn’t that different. And these are actual closings, not pendings. As you can see in my previous post, the majority of short sales that close go pending multiple times.
4 responses so far ↓
1 Posts about Short Sales as of October 15, 2009 // Oct 15, 2009 at 5:06 am
[...] rather than looking at its advantages. As always there are two sides to everything, so have [...] More short sale stats for Fife, Milton, Edgewood & Federal Way, WA – edgewoodblog.com 10/15/2009 Continuing on the subject of my previous post, here’s a look [...]
2 John // Oct 15, 2009 at 5:17 pm
Are you a professional journalist? You write very well.
3 Arsento // Oct 17, 2009 at 7:54 am
I liked it. So much useful material. I read with great interest.
4 Darlene Quan Nguyen // Mar 15, 2010 at 10:17 am
Dear Lee,
I would like to join in the Master Realty Group
How can I start ? And How is Realty Group policy ?
My contact :
Cel : 832-646-6655
H : 253-661-4235
Email : ndarlene9@yahoo.com
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