Monthly Statistics NOVEMBER 2010

Profile picture for Idaho House Hunter
November showed a slight drop in number of properties sold.....144 total. Over the past 18 months, we've had approximately 4,000 properties on the market, and have been selling just about 160 per month.... last month, November, we saw a drop to 144, however, higher priced properties rose in sales. November is typically a slow time, with the holidays. Ironically, although it is a BUYER'S MARKET, we're seeing several multiple offer situations on the properties that are selling.....investors and home buyers fighting over the great (screamin') deals! Marla Lopez THE HOUSE HUNTER Estate Properties [link removed by moderator]
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December 05 2010 - Coeur d'Alene
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4000 homes for sale, and only 140 sold??? sorry young lady but that means NOBODY is fighting over home for sale, that simply put, is one of the worst supply to demand ratios anywhere! 28 months of inventory where a balanced market is under 6, means this market is likely to see prices drop for literally years, and buying there today would be easily one of the worst financial decisions ever.
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December 05 2010
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It does appear inventory levels are way inbalanced.  I have to agree with Robert, buying in your area wouldn't be the best thing to do right now.  In Fort Myers, Florida or Lee County FL, we had inventory levels of this nature 24 months or so back, we have seen prices drop 67%, some areas of our market prices dropped 77%...yeah scary.  Homes that were financed for $120K, are now selling for $30K...Robert has probably seen similar numbers being that he is in AZ.  The good news if you want to start listing properties that will sell, start communicating to people the "true" value of the home and if that means they have to SHORT SALE, then start looking at companies specializing in Short Sale Negotiations, the company I use for all my transactions is www.capitalonemitigation.com.  They started in AZ, and are now in FL, but according to the office they help negotiate short sales nationwide. 
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December 06 2010
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I am sure glad I am in the Boise area instead of Northern Idaho as our list to sales ratios are much better.  We have been dropping since the peak in 2006.  In many price ranges we are back to about a six month supply.
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March 06 2011
 
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