Sunday, January 25, 2009

Weekly Active/Pending counts SFV & Ventura - 01/24/09

I'm going to post the weekly inventory counts for Ventura County and the San Fernando Valley as more time goes by this data set will become more useful. I have broken out the Short sale and Foreclosure (REO) inventory to better track demand. Eventually the data will either turn into tables or graphs but right now I am putting it out there so others can find and use it for there own purposes.


San Fernando Valley:
Single Family Homes
Active - Total 3522
Active - Short sale 1296
Active - REO 512
Backup - Total 334
Backup - Short sale 145
Backup - REO 71
Pending - Total 1192
Pending - Short sale 437
Pending - REO 498
Distressed active / Total active = 51.3%

Distressed pending / Total Pending = 78.4%


Condo
Active - Total 1172
Active - Short sale 574
Active - REO 198
Backup - Total 89
Backup - Short sale 42
Backup - REO 23
Pending - Total 380
Pending - Short sale 116
Pending - REO 199
Distressed active / Total active = 65.8%
Distressed pending / Total Pending = 82.8%

Ventura County:
Single Family Homes
Active - Total 2010
Active - Short sale 502
Active - REO 253
Contingent - Total 581
Contingent - Short sale 365
Contingent - REO 111
Pending - Total 609
Pending - Short sale 115
Pending - REO 354
Distressed active / Total active = 37.5%
Distressed pending / Total Pending = 77.3%
Release from Showing 272

Condo
Active - Total 709
Active - Short sale 203
Active - REO 144
Contingent - Total 192
Contingent - Short sale 129
Contingent - REO 44
Pending - Total 170
Pending - Short sale 38
Pending - REO 90
Distressed active / Total active = 48.9%
Distressed pending / Total Pending = 75.2%
Release from Showing 60

7 comments:

Rob Dawg said...

VenCo Distressed as a percentage of pending. Wow.

Effective Demand said...

I see the possibility of a big slowdown in sales (or just lack of growth in sales) coming mid-year if more distressed inventory doesn't come on the market soon. With servicers catching up due to SB 1137 and the economy in general I don't think distressed inventory will be a problem.

Noz said...

I'm seeing ALOT of homes that are listed in REDFIN that are ACTIVE then CONTIGENT and then drop back to ACTIVE.

Interesting.

Effective Demand said...

Noz. The Back On Markets happen with about a third (that is an eyeball/WAG for Ventura, not an exact measure) of the Contingent and/or Pending statuses.

For the Valley they track BOM a bit better, I'll have a post up in a bit with the latest stats.

Onsoku said...

Just discovered your blog via Calculated Risk. Good info/ammo for me to present to my wife when I talk to her about housing. She is interested in 3436 Fairmont, 93036. It's her "dream" home, so we're going to make a go of it. They are asking 620k for it, which when I factor in the normal appreciation and upgrades, seems like a good price....

I want to offer 600k for it, but I don't want to risk the offer not being accepted...

Effective Demand said...

Onsoku

REOs can be tough to ask for a reduced price when they have low DOM. But even if your offer is rejected, the banks aren't emotional bratty seller you can just submit a higher offer.

That listing looks like it is pending, Is an agent telling you that you it is currently active?

Onsoku said...

Thanks for the info...yes, I'm told it's pending, but most of the RE sites are still showing it as active.

Thanks