Summary Of Changes for Sacramento County |
| | Week of 2009-08-29 | Since 2009-08-22 | Since 2008-08-30 |
| Direction | # | % | Direction | # | % |
| Inventory | 6642 |  | 12 | 0.200% |  | -2262 | -25.3% |
| Median Asking Price | $198000 |  | $0 | 0% | | -$21900 | -10% |
| Average Asking Price | $258808 | | $34 | 0% | | -$23185 | -8.20% |
| Average Asking Price Per SQFT | $147 | | $0 | 0% | | -$17 | -10.4% |
| SIT Inventory | 3011 | | -16 | -0.5% | | -1407 | -31.8% |
| FIT Inventory | 657 | | -17 | -2.5% | | -1341 | -67.1% |
| New Listings | 671 | | 64 | 10.5% | | -245 | -26.7% |
| Price Drops | 294 | | -46 | -13.5% | | -349 | -54.3% |
| Price Increases | 35 | | -5 | -12.5% | | 8 | 29.59% |
Four County Inventory Levels
Inventory on 2009-08-29: 11169
Asking Price Levels
Price Inventory Levels
Asking Price Distribution
Troubled Inventory Levels
Flipper Market Share
Sellers In Trouble Market Share
Sellers In Trouble Days Since Last Sale
Asking Price Average Percent Loss
Asking Price Total Dollar Losses
(millions)
Weekly Inventory Price Changes
Weekly Inventory Price Changes
4 comments :
Interesting story out about TARP:
http://www.businessinsider.com/henry-blodget-hank-paulson-looking-smarter-all-the-time-taxpayers-doing-fine-on-tarp-2009-8
Ill be honest. I never thought we would see a dime of that 700Billion we lent out - not one. Yet so far we got at least 10% of it back.
Yes a good percentage of it (AIG, GM, Etc.) is gone for good, but out of curiosity, how much of that 700BB do you all think we will get back?
The 700 billion figure is just scratching the surface of what went out via the Treasury and Fed. There's no way of knowing what we'll get back since we don't know how wrecklessly the bailout money will be used or how those bets will turn out.
Dean Baker said the other day: "Any moron can figure out how to make money by borrowing from the Fed at almost no cost and then buying government bonds or government insured bonds that pay 3.5 percent to 4.5 percent".
Given the structure of our Fed based banking system, it's hard for big banks NOT to make money. That they managed to dig themselves such a deep hole and got rewarded for it doesn't bode well for our potential ROI.
BTW: Am I going to have to change my name to "patient lone renter" soon? Seems like things are heading that way :)
Ran into an old friend who has been working repos and fixers for the past year. Interesting in that inventory is low, he is getting only a fraction of what he bids on, pays cash, beats buyers with loans almost all the time with a lower cash offer vs they're higher offers that require a lender to perform (we've all heard most don't hit their promises on time).
Interesting in that is meshes with another friend who is an REO manager for a bank, mostly ignores offers from buyers using loans, prefers cash quick close deals. EVEN IF THE PAPER SAYS THE OFFER IS LESS. Got to hit the quarterly closing goals.
Pretty clear signs that the low end REO market is a wholesale market, cash rules, BS walks.
Sippn
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