Resale report for Ada County August "09" 519 Sales reported so far, 274 of them are distressed, Check out the report here!
I just pulled up some preliminary numbers for August, we have a few more days of reporting but I wanted to give you guys a taste of what is coming. Its nice to have a snap shot of the market, that is up to date and not 1 month, or 2 months behind. Please download the excel spreadsheet to see all the data. Its pretty interesting. I think we are doing pretty good, the Distressed properties that sold this month are up a little bit. Last month we were at 36% (% of distressed properties sold) , and this month we are at 53%. We will continue to watch that number, I think the national number is around 31%. The good thing about that is that we get them off the market, and churn through them as quick as possible, it will return us quicker to a normal market if we can clean those up. The only problem that I see is that we had a rush of defaults last week for Ada County, I think we had around 209 (the highest amount that I have seen in 3 months) If we continue to push more distressed properties through the system, it just makes it longer for us to get are pricing to more stable level. We will continue to watch it, and we will let you know what is going on in the coming months. stay tuned for more info.
Jeremy
Ada County market Report
Comments 3 Comments
Great Job... The info is very good, and very helpful. I have found that if I download the excel file, and then work in excel, I can move through the data much easier. I know the data can not know or determine the features or amenities of a property, but these are what is the true basis of a true price per square foot. Sales price divided by square footage price, but doen't nescessarily represent a true value. In this world of REO's and Short Sales, this is becoming more and more evident. It is way to easy to just go off the sold comp of most likely a destressed property. Just ask any builder how the appraisals and comps are affecting their properties. I guess there is no magic bullet or pill. Keep the good stuff coming. Again... Great Job.
Charlie, You are right about the properties, (not knowing the amenity levels) its so hard to do that from MLS data, so we always need to take that into consideration when we process this data. For us local people that know some of the subs, we can assume things and that is about it.
Thanks for all your comments!