End of the First Quarter – Banked Owned Info
A few new listings came on the market over the weekend so it sparked my curiosity as to how many bank owned are still on the market for all of the Carson Valley area.. After a quick search on the MLS, the number was revealed.. 100 homes and condos. And mind you, this is all “Active” listings (not in pending status) and is just for Carson Valley (Ranchos, Minden, Downtown, Genoa, Johnson Lane, Topaz, etc.).
Here are all the listings, check them out..
On another note, the end of the 1st quarter in the year 2011 just wrapped up.. Going over some numbers, the market is still moving in all areas which is good news! The flip side of that is the types of sales these homes were. There were 143 total sales in the Carson Valley. Out of that 143, 81 sales were either Bank Owed or Short Sales, the remaining 62 were regular sales (or other notes sales). To put that in perspective, 56.6% of the first quarter sales were distressed.
Now, I compared those numbers to 2010.. end of 1st quarter 2010, total sales in Carson Valley were at 125. Out of that, 65 were distressed sales (Bank Owned or Short Sales) which is 52%. From those numbers, looks like we are not making much progress towards recovery.. Then I looked a little deeper at the numbers.. follow me..
Sold Short Sales 2010 1st Qu: 28
Sold Bank Owned 2010 1st Qu: 37
Sold Short Sales 2011 1st Qu: 42
Sold Bank Owned 2011 1 Qu: 39
Overall, my opinion, the banks are finally processing the Short Sales more efficiently! More Short Sales are closing on average, it’s worth it to try for a short sale than to just walk from your house..! And just in case you didn’t know, I am certified to process Short Sales thru the Distressed Property Institute. Call me and I’ll tell you more! Nice little thought for this lovely Sunday afternoon.. Enjoy it!
Jenny’s Contact Information:
Tahoe Office | 212 Elks Point Rd., Ste. 440 | Zephyr Cove, NV 89448
Minden Office | 1700 County Rd., Ste C | Minden, NV 89423
Direct (775) 200.0787 | Voice (775) 241.8258 | Fax (775) 588.5395
Jenny L. Johnson, Realtor, CDPE