Saturday, April 11, 2009

Lots of empty homes..

This is Ventura County March 2009 sales broken down by sales type (Fair Market, Short sale, Foreclosure/REO) and within each group sales broken down by Occupant type (Owner, Tenant, Vacant). For REOs they were all empty but some had the wrong flag set but other flags indicate they were vacant, I left the data as pulled since it didn't really matter that much. For Fair Market sales I think it is important to note the number of vacant homes. An owner of a vacant home is going to be much more motivated than one living in a home while selling. Tenant and Owner occupied homes provide some sort of economic benefit to the owner. I will have to see if I can come up with a comparable chart for the SFV.

I'm still trying to figure out a way to quantify the current market, many of the sales coming through are significantly (5%) discounted from list, especially if over 30 Day On Market. Simple SP / LP ratio doesn't captures it enough but one thing is clear the sales are being so good because the sellers have become much more flexible and realistic on selling terms.

1 comment:

Rob Dawg said...

Let us not forget the vacant new homes not on the MLS like the dozens if not hundreds at Riverbottom in Oxnard.