**Each neighborhood has it’s own data, but we like to show you what’s going on in our two cities**
The FINAL real estate market update for 2012 – It was a WILD year!
- 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.
Not only was December 2012 a GREAT month for the Real Estate Market, the Ostroms also welcomed “Baby #3” to the World.
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