Thursday, August 14, 2008

The Growing Gap

I haven't reported on my screen scrape in some time. Several interesting things of note.

The number of homes pending sale has jumped again. We just hit a new record high, at my scrape yesterday. While the total number of homes meeting my criteria is still very high, the pending sale, and short sale homes make up the bulk of the listings these days. The list price differentials between the categories is what is the most interesting.

Average list price per square foot for homes in Folsom and EDH that meet my criteria -
Pending Sale -$174
Short Sale - $174
REO & Normal - $189

Thus, even though there are tons of homes for sale in the area, there is very little of interest on the market worth pursuing, except a couple REOs. We are attempting to negotiate a short sale, but my expectations are very low at this point.

1 comment:

Jacob said...

I say let this round of knife catchers have their fun. Think about buying next year depending on what the Alt-A mess does to the market.