Sunday, March 1, 2009

Sunday Stats

bar-graph-by-miamiamia-id-987804photo credit to MiamiAmia, courtesy of StockExchangeClick here to see the entire Sunday Stats series, and for historical perspective.  Click here for an explanation of the color coding.

Here’s this week’s stats chart covering The Phoenix Agents’ territory. If you click the pic, it’ll open in a new window.

3-1-2009 8-31-20 PM

I don’t have a comment about the stats on the chart this week. Seems like a jumble of red and green without logic to me.  Sometimes even a good Realtor temporarily says “I dunno.”

Anecdotal evidence from the trenches

I continue to see a steady stream of bargain-hunting buyers crawling out of the woodwork, cash or loan in hand and ready to scoop up a deal. I haven’t been this busy since the summer of 2005.

Multiple offers on REO bank owned properties continue to be the norm, especially in lower-end price ranges.

It seems to me that short sales in many middle-range prices are struggling to sell as buyers discover that REOs are a quicker purchase. On the other hand, I’ve heard from colleagues that the average short sale response time is about 8 weeks lately. That’s much improved from my personal experiences in 2008 when I waited 3 to 4 months for answers from the sellers’ lenders on short sales.

Check back next week to see if a pattern re-emerges in the Sunday Stats.