A few other points. (Very telling of where our problems are regarding lending/underwriting)
For all of San Joaquin Co. Jan 09 to date only 63 Homes sold between $500,000 and $999,999 for same period last year 120 Sold. 48% Decrease
For all of San Joaquin Co. Jan 09 to date only 5 Homes sold from $1,000,000 and Above for same period last year 12 Sold. 60% Decrease
Foreclosures represent approximately 75% of ALL Pending and Sold properties in San Joaquin County. Our REO listing inventory currently only comprises approximately 25% of listed properties (we know the ‘shadow inventory’ is out there), Short Sales now comprise approximately 50% of listings.
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Its true that the home sales are decreasing rapidly but did not hit the bottom. So Keep focus on the situation.
ReplyDeleteBoise real estate