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October Real Estate Market Update 2012

10/24/2012 by 2 Comments

Watch the October 2012 Real Estate Market Update – Roseville and Rocklin on YouTube

**Each neighborhood has it’s own data, but we like to show you what’s going on in our two cities**
www.RosevilleAndRocklin.com

Definitions + Updates (repeated)

  • 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.

October Real Estate Market Update 2012

Learn more about our Team and listing your home with us!

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

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  • http://twitter.com/SacAppraiser Ryan Lundquist

    Nice job, guys. It’s always good to get a little market update. I’m really curious to see what happens to inventory in coming months – especially after the election.

    • Heather Ostrom

      Thanks Ryan! It will definitely be interesting to watch post-election the trends. Didn’t you have a great post on the election and agent comments recently? You’ll have to share again once we get closer to Nov 6th! :-) ~ I tell you, this has been one of the wildest October work months I have ever experienced. We’re working around the clock right now. Buyers are anxious (if not frustrated right now), by the lack of inventory. What is important for folks to note right now, is if you’re overpriced – this doesn’t necessarily equate to multiple offers – buyers are still savvy and expect certain items, particularly if this a “move-up” buyer and if it falls into the area they are targeting (example a particularly neighborhood or they’re targeting a certain school district). Investors and first-time buyers are definitely “duking it out” and it’s tough right now.

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