Not only was December 2012 a GREAT month for Real Estate Market Updates, the Ostroms also welcomed “Baby #3” to the World.
Below is probably one of my favorite real estate market updates, ALMOST as funny as our October 2012 Market Update. We want to be educational, professional, AND fun to work with in our jobs. Check out the video below – you won’t regret it. November numbers for December were phenomenal (but hard if you are a buyer as inventory are at record lows – less than one month of inventory).
**Each neighborhood has it’s own data, but we like to show you what’s going on in our two cities**
- Shadow Inventory: Homes that may have been issued a NOD, or home is a REO / foreclosure
- REO: Foreclosure (sometimes called a REPO) “Real estate owned” but means bank-owned – note each REO has it’s own set of bank criteria you might see generalized comments of how to approach REO offers as a buyer.
- Absorption Rate (number listed is based on a ‘monthly’ scale): defines inventory levels and how many months it would (theoretically) take to get all inventory sold on the active market.
- Newer Metrolist Addition for short sales: Pending Short Bank Approval. Now our “ACTIVE” and “PENDING” properties are an accurate depiction of actual AVAILABLE (Active) Inventory. Unlike before when “Short Sale Contingent” was the Only Option for Short Sales before they were “bank approved.” “Short Sale Contingent” STILL exists – please note, but it’s not seen as often because of the requirements of the seller to still allow showings and offers.
If you have any questions about what we are observing for
buyers + sellers – email, text (with your name), and/or give us a call.
Coldwell Banker Sun Ridge
916-308-2446 • RosevilleAndRocklin@gmail.com
4011 Woodcreek Oaks #110, Roseville 95747