Has the Real Estate Dam Sprung a Leak?

Unlike in the fable I don’t think anyone will be trying to plug these leaks.  I have noticed in the past few weeks we are finally seeing some “cracks” in the dam holding back home sellers.  There has been an increase of homes being listed and quickly snatched up by thirsty buyers in just a few days.  The “regular” sales are showing up in greater numbers competing nicely against the bank owned REO’s and short sales.  Is the market changing?  Time will tell, and I can’t help myself but I am hopeful.

I love numbers, so here are some to consider:

For Auburn to Alta

New listings of single family homes since March 1, 2012:

109 new listings (26 are short sales, 21 are bank owned)

77 went pending (17 are short sales, 25 bank are bank owned)

Also 37 short sales received offer that have been sent to their lenders for approval (in real estate agent lingo Short Sale Contingent)

26 of the pended sales were just listed in March

64 sales closed (12 short sales, 20 bank owned, 32 regular sales)

23 of the closed sales had been on the market less than 30 days

And March is not over yet!

January & February 2012 had 102 new listings each,  January had 79 pended, 43 sold, while February had 112 pended and 61 sold.

Data provided by Metrolist and Trendgraphix

Want to play with numbers more?  You see more market data for various areas on my website.

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

 

Share

Colfax is Blooming

All Photos by Teri Andrews-Murch

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

 

Share

Buyers: Getting From Window Shopping to In The Door

Question:  Buyers with all the tools available these days to window shop from home for a new house when do you decide to take the next step?  Do you know what is the next step?

In the “old” days (pre-Internet) if you were thinking of buying a home you might spend a few  weekends driving around the neighborhoods, maybe visit a couple of open houses and then go see a real estate agent, who would point you to a lender and then with your budget set start going through the big book of listings.   For those of you that have never seen “the book”  it was quite interesting, pages and pages of homes with grainy black and white photos of the front printed on thin paper, never quite up to date because it didn’t come out everyday.

Now you can search from the comfort of your home, have new listings sent to your inbox on a daily basis, with color photos, virtual tours, aerial views, street views…….a visual feast.  So at what point do you get off the couch and where do you go once you are out the door?open door

In my opinion the start for every project after you have identified that you have the desire or need is BUDGET.  No matter if you are buying a new pair of shoes, a car, or a house you will have a budget.  For buying a home your budget is determined by either the size of your bank account if you are paying cash (or your parents bank accounts if you are using The Bank of Mom) or how much a lender is willing to lend you.  Your budget determines if you can start looking where you want to be or if you need to adjust your criteria and look elsewhere or wait.

Going out to talk to a lender or two can be painful for many of us, you have to face financial reality, you have to share your information with most likely a total stranger.  It takes a leap of faith and trust, but without that budget number you are just window shopping without a plan.  Find a lender that will take the time to explain the process and answer your questions, if you are walking out of their office more confused than when you went in, that might not be the lender for you.

Tired of window shopping? Take action & go see a lender!  You might get in that new home sooner than you thought.

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

Have Fun!

 

Share

Spring Home Selling Season

It’s fast approaching that time of year to start planting those for sale signs.

Sold Sign

 

If your thinking of selling your home this spring or summer now is the time to start getting mind focused and your house in order.  I’ve created a home evaluation and seller worksheet called 5 Steps to Selling Your Home with some ideas and tools to help you determine if you are in fact serious about selling your current home.  Click this link to download your free copy.

Good news seen on KCRA3 this morning I read on the bottom news scroll: ” Nearly one quarter of homes sold in 2011 were foreclosures or short sales” *  Why is that good news you ask?  In my mind that means the remaining 75% of sales were regular traditional sales!   What do you think?

Interest rates are still low, still a lot of buyer demand, if you are wanting to move up, down or over this may be your year.

*KCRA didn’t state a source for this info

 

Teri Andrews-Murch, Realtor, Ca DRE 01734030                                                                ph 530-798-0215 Lyon Real Estate, Auburn, Ca.     www.FoothillsHotProperties.com

 

Share