What Is An REO Property?

What Is An REO Property?: "

What Is An REO Property?

R-E-O. Acronymns are great! A simple way to economize words, right? For instance R-E-O is the acronym for "Real Estate Owned" in the real estate world. Now that clears everything up right?

Hmmm.... no, not really. What does "Real Estate Owned" mean to you and me? Isn't all real estate owned by someone? Well, don't try to make too much sense out of this acronym or the words behind it. REO in simple terms is a bank owned home. In most cases someone owned it; that someone defaulted on payments and the bank took it back via the non-judicial foreclosure process (California) and is now attempting to sell it.

So you want a more in-depth explanation... You asked for it! REO is a class of home (for our purposes we'll stick to residential real estate) owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. This is usually the case in recent years as the amount owed on the home is probably higher than the value of this foreclosure property. As soon as the bank repossess the property it is listed on their books as bank REO or bank repos and categorized as "an asset (non-performing)".

Once a home enters distressed status (the borrower/home owner misses mortgage payments) the bank will want to determine the amount of equity that the property has. The bank's preferred method to determine the equity (or lack thereof) is to obtain a Broker Price Opinion (BPO) or order an appraisal. Based on the amount of equity that is determined from the BPO, the bank will decide whether to allow a short sale or to continue through the foreclosure process. If the bank is unable to sell the property through a short sale or at a foreclosure auction it will now become an REO property.

After repossession the home becomes classified as REO, the bank will go through the process of trying to sell the property on their own or obtain the service of an REO Asset Management firm. The bank will remove some of the liens and other expenses on the home and try to resell it to the public, either through future auctions or direct marketing through a real estate broker. The asset manager will also try to contact REO realtors that specialize in certain zip codes to help sell this bank owned property. REO homes are often in poor state of disrepair and maintenance but the list price of an REO is generally more reliable than the list price of a Short Sale. Real estate investors will often purchase these properties, as banks are not in the business of owning homes and the low price may compensate for the condition of the property.

Many larger banks have REO/asset management departments that field bids and offers, oversee upkeep, and handle sales. Most REO properties on the open market will be listed in Multiple Listing Service. Search here for Orange County REO Homes For Sale.

Have More Orange County Real Estate Questions?

Related Posts:
No State Income Tax On Debt Forgiven In A California Short Sale

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Home Prices in U.S. Cities Fell 3.1%

2011 March 29

The housing market remains weak, with falling prices and slumping sales for the sixth straight monthly decline.

The Standard & Poor’s/Case-Shiller Home Price Indices measure the US residential housing market and track changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.

Property values in 20 cities fell 3.1% from January 2010, the biggest year-over-year decrease since December 2009.

“The housing-market recession is not yet over, and none of the statistics are indicating any form of sustained recovery,” said David Blitzer, chairman of the S&P index committee.
“At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing.”

The median price of existing homes, which make up more than 95% of the market, slid 5.2% from a year earlier, according to the National Association of Realtors.

RealtyTrac projects foreclosure filings may climb about 20% in 2011, reaching a peak for the housing crisis. With unemployment near 9%, the number of distressed properties may increase and leading to more price declines as homeowners struggle to make mortgage payments.

Phoenix, AZ  down 9.1%
Detroit, MI  down 8.1%
Portland, OR  down 7.8%
Minneapolis, MN  down 7.6%
Chicago, IL  down 7.5%
Tampa, FL  down 7.0%
Atlanta, GA  down 7.0%
Seattle, WA  down 6.7%
Charlotte, NC  down 4.8%
Miami, FL  down 4.7%
Las Vegas, NV  down 4.4%
Cleveland, OH  down 3.8%
New York, NY  down 3.0%
Dallas, TX  down 2.8%
Denver, CO  down 2.3%
Los Angeles, CA  down 1.8%
San Francisco, CA down 1.7%
Boston, MA  down 0.6%
San Diego, CA  up 0.1%
Washington, DC  up 3.6%

Existing Home Sales Falls 9.6% in February 2011

One Realtor or Two?

Q: I am going to be selling my first house and buying another (hopefully) at or around the same time. Is it an easier process to use the same Realtor for both transactions? There is only approx. 35 miles between the old and new location, so I am thinking one Realtor should have knowledge of both areas. What has been your experience? Thanks. – Anonymous in South Carolina


A: Since both locations are reasonably close to each other I would recommend using one Realtor that you’ve handpicked and are comfortable with. The logistics and communication on both the purchase and the sale with be much easier with a single representative. They will be in complete control of both transactions and better positioned to coordinate both in a time frame that suits your needs.
Lee Dworshak is a Realtor® with Keller Williams LA Harbor Realty in Rancho Palos Verdes, CA.

The Realities of Real Estate: What buyers say they want from an agent

By BOB and DONNA McWILLIAMS, For The Capital

Published 03/27/11

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On the flip side, there are many ways a buyer's agent can be of service in the purchase of a home.

However, what buyers say they want from an agent isn't the same as the benefits they said they received after the sale was completed. This suggests that buyers are often unclear about the extent to which an agent can help, as well as the magnitude to which that contribution can affect their ability to make a good buy and smoothly complete a real estate transaction.
In the 2010 Profile of Home Buyers and Sellers, the National Association of Realtors thoroughly researches a wide variety of information regarding the home-buying process and how both buyers and sellers view the involvement of real estate agents. It provides some interesting insight as to how perceptions or expectations offer differ from reality.
 First, let's take a look at what buyers want most from a real estate agent.

WHAT BUYERS WANT MOST FROM REAL ESTATE AGENTS
                                                                All buyers    First-time buyers    Repeat buyers

• Help finding the right home to purchase        51 percent    50 percent       51 percent
• Help negotiating terms of sale                         14 percent    14 percent       14 percent
• Help with price negotiations                              12 percent    12 percent       12 percent
• Help with paperwork                                           10 percent    10 percent       10 percent
• Determine what comparable homes sell for     6 percent      5 percent        7 percent
• Determine how much home buyer can afford   3 percent      4 percent        1 percent
• Help find and arrange financing                          2 percent      3 percent        2 percent
• Other                                                                       3 percent      2 percent        3 percent

As the first chart shows, buyers overwhelmingly believe that the primary purpose of an agent is to help them find the right home to purchase. More than 50 percent say this is what they want from an agent. All other functions fall off significantly, with only 14 percent saying they want help negotiating the terms of the sale, and 12 percent saying they want help with price negotiations.

Interestingly, the responses also do not vary whether you're talking to first-time buyers or repeat buyers.

Those results are fairly consistent with popular misconceptions about what real estate agents do. For some buyers, they see agents as nothing more than a taxi service and a key to the door. Beyond that, many buyers appear to have what may be a false sense of security in their personal ability to negotiate a real estate deal and complete the process without much assistance. However, when buyers are asked to list the actual benefits provided by an agent, it becomes more apparent that agents are delivering a much broader array of services. The second chart shows what those figures look like.

BENEFITS PROVIDED BY A REAL ESTATE AGENT
                                                                                             All buyers    First-time buyers    Repeat buyers

• Help buyer understand the process                     66 percent    80 percent        53 percent
• Identify unnoticed propery features/faults           53 percent    55 percent        50 percent
• Negotiate better sales contract terms                 42 percent    43 percent        40 percent
• Improve buyer’s knowledge of search areas     42 percent    41 percent        43 percent
• Provide a better list of service providers            41 percent    41 percent        42 percent
• Negotiate a better price                                         34 percent    34 percent        34 percent
• Shorten buyer’s home search                              31 percent    32 percent        31 percent
• Expand buyer’s search area                                 22 percent    25 percent        20 percent
• Provide better list of mortgage lenders                21 percent    22 percent        20 percent
• Narrow buyer’s search area                                18 percent    17 percent        19 percent
• Other                                                                         2 percent      1 percent        2 percent

One number that jumps out here is how 80 percent of first-time buyers say the number one benefit provided by a real estate agent is "helping them understand the process."
On the surface, that might seem predictable, but when asked what they want out of a real estate agent, only 10 to 14 percent of first-time buyers said help with the process (paperwork, negotiations, etc.) was important. Although somewhat less significant, the discrepancy also existed for repeat buyers.

This would suggest that the whole house-buying deal isn't quite as easy as some first suspect. As with most things, we often don't know what we don't know.  Making an offer on a house might initially look like nothing more than agreement on a price, the selection of a move-in date and some quibbling over a few inspections or repairs. Ah, if it were only that simple.  In today's intensely litigious world, home sale contracts are routinely 50 pages or more, and there are countless places where you can get yourself in trouble if you don't know what you're doing.  The benefits buyers attribute to agents in the area of negotiations also increases dramatically when going from a list of "what I want" to a list of "what benefits I got."
Many buyers fancy themselves to be master negotiators. But having the ability to pull an inside straight at a Saturday night poker game or drive a hard bargain at a garage sale doesn't necessarily translate to the talent and experience required to effectively cut a good deal on a piece of property. Plus, the pot you're playing for in a real estate transaction is a whole lot bigger than what's on the table in that card game.

Negotiating a real estate contract of sale is not a time for amateur hour or a place to learn by trial and error. Some buyers think the negotiation is all about the price. But that's just one of a dozen or so considerations that must be properly combined to deliver the best possible deal. Even among agents there is a wide range of skills, ability and tactical finesse when it comes to the art of negotiation.

In sum, buyers frequently think they want certain things from an agent. Then, when they actually get into the process, they rapidly find out that what they need is quite different.
So, if you're a first-time buyer - or one that's been around the block a few times - remember that this process is constantly changing. If you get the guidance of a good agent, you'll substantially your chances of achieving success.
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Bob and Donna McWilliams are practicing real estate agents with more than 20 years of combined experience in the Annapolis area. Their Web site is www.BobDonna.com, and you can email them at McWilliams@BobDonna.com.

A Cautionary Tale for Selling Your Home on Your Own For Sale By Owner (FSBO) By Alison Shuman

A Cautionary Tale for Selling Your Home on Your Own For Sale By Owner (FSB

 By Alison Shuman

Selling your home on your own sounds like a good idea - you can save some money and who knows your neighborhood better than you do?
One critical thing you MUST know about selling FBSO is who the potential buyers are for your home.

Let's step back for a minute.
What do most people do when they want to buy a home?
Most start their search on the Internet, drive around on the weekends and visit a lot of Open Houses.
When they're getting serious about buying, they contact a real estate agent, frequently someone referred to them by a friend or co-worker. Good agents will qualify the buyers before investing a lot of time in them. A good agent will make sure they are serious, have been pre-approved by a lender, and have a time line in mind that has them purchasing a home within the next month or two - essentially, as soon as a home that is a good match is located.
Other buyers don't call an agent. Instead, they continue to search on the Internet, visit Open Houses, and some of them will also scour the local newspaper ads for homes for sale as FSBOs.

Let's ask this question:
Why would a potential buyer forgo the services of a licensed real estate professional? Buyer's agents are paid by the Seller, not the Buyer, so why would any buyer NOT want free services from a professional when those services come at no cost to them?

Those services include:

1. Tailored listings, frequently pre-viewed by the agent for suitability to the client.
2. Introductions to mortgage and inspections professionals who can help their clients through the home buying process.
3. Guided tours with colorful printed maps highlighting areas that may be of interest to the buyers, etc.
4. All of the paperwork prepared, reviewed, copied, emailed, delivered, etc. for their convenience.
5. Quick access to market data about recent sales, so they know what they'll need to pay for the type of property they want.
6. Expert advice on the suitability of a property for the buyer's intended purposes.

What kind of buyers wouldn't be interested in these services?
Buyers who think they are going to get a good deal by buying from a seller that doesn't have to pay a real estate commission, i.e. someone who is selling FSBO.

If you're planning to FSBO, you might be wondering why this doesn't work out perfectly - since you also hope to avoid paying a commission.

The answer is simple: these buyers know you aren't paying a commission and they're going to reduce the price they're willing to pay for your property by the amount of commission you're saving. You heard that right - they think THEY should benefit from that commission savings - the same money you expected to be putting in your OWN pocket by selling your home on your own.
Think about that - you've spent your own time, and own money to sell your home. You made the fliers, wrote the ads for the paper, set up accounts and paid to have your home listed on a bunch of FBSO web sites. You hosted multiple open houses, fielded dozens of phone calls from prospective buyers, cleaned up for their visits, and walked them through your home. You had the home appraised prior to offering it for sale so you KNOW what the home is worth in the local market. You planted signs in your yard and at the entrance to your neighborhood. You did all of the work to get your home sold FSBO so you could save the commission that you would have had to pay if you had hired a real estate agent to perform these services for you.

And now the buyers thinks that savings should be passed on to them.
None of this means that selling FSBO isn't worth a try. It just means that the more you understand the likely thought processes of the buyers you'll be seeing, the more you can be prepared to negotiate for what your home is really worth.

My name is Alison Shuman Masis, licensed Texas Realtor and co-owner of a real estate appraisal company, Appraisal IQ, in Austin Texas.
http://theappraisaliq.com

Article Source: http://EzineArticles.com/?expert=Alison_Shuman

Can Realtor Help Us Find Rent-to-own Home?

 

 

Can Realtor Help Us Find Rent-to-own Home?

Q: It has been almost a year since the short sale of our previous home. We don’t believe we will be able to qualify for a mortgage for a while yet. Do Realtors assist buyers in finding a situation where we could rent a home for a period of time (say, a year), with the intention of purchasing it at the end of that time period? Or is that not really something Realtors do?

A: An experienced Realtor will be able to put together for you a rent-to-own contract (also called a Lease Purchase). Don’t hesitate to call your Realtor to ask. If they are uncomfortable doing this type of contract, then ask to speak to their Branch Manager who will have the knowledge to be able to craft a Lease Purchase contract. A Lease Purchase is a GREAT way to lock in on today’s home prices, and live in a home to get to know the neighborhood, but be able to obtain the financing later. I would also suggest speaking to a lender now to outline your situation so that you can really be ready in a year to complete the purchase. Good luck!

Leah Hill Pham is a Realtor® with Windermere Wall Street Realty in Seattle, WA.

A: Yes, a Realtor can definitely help you find a rent-to-own home, also known as a lease with option to buy. A lease with a purchase option offers flexibility to a potential real estate buyer. The program works exactly like it sounds; it gives the renter the option to buy. For buyers a lease option can be a great way to go because it gives them an exclusive option to buy the property being rented and binds the seller but not the buyer.

Reasons to enter into a lease option include the better use of a buyer’s time and money by allowing a renter the time to secure financing, save money, reduce debt and acquire financing. Additionally, since the purchase option price of the home is usually fixed when the lease is signed, another plus in an up market can be when home values increase over the term of the lease while the fixed option price remains constant, a buyer/renter can actually be earning equity while renting. Done properly, a lease option can be quite a good deal for a buyer. On the down side, if the value of the property decreases over the term of the lease the buyer has lost nothing since he can simply walk away at the end of the lease term.

Another plus is that lease options typically apply a portion of the rent paid towards the down payment on the home and because of this they work as a great way for people to purchase a home when they don’t have the money readily available for a down payment. First time buyers should take a look at a lease option as a simple and effective way to defer buying a home while saving more for that down payment.

Lee Dworshak is a Realtor® with Keller Williams LA Harbor Realty in Rancho Palos Verdes, CA.

Read more: Can Realtor help us find rent-to-own home? | REALTOR.com® Blogs

Helping You Keep Your Home

 

 

Helping You Keep Your Home

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The U.S. Treasury Department has approved CalHFA's plan to use nearly $2 billion in federal funding to help California families struggling to pay their mortgages.
The Keep Your Home California programs are focused on assisting low and moderate income families stay in their homes, when possible, and leveraging additional contributions from mortgage servicers.

Primary objectives for the Keep Your Home California programs include:

• Preserving homeownership for low and moderate income homeowners in California by reducing the number of delinquencies and preventing avoidable foreclosures
• Assisting in the stabilization of California communities

Each of the Keep Your Home California programs is designed to address one or more aspects of the current housing crisis by doing the following:

• Helping low and moderate income homeowners retain their homes if they either have suffered a financial hardship such as unemployment, have experienced a change in household circumstance such as death, illness or disability, or are subject to a recent or upcoming increase in their monthly mortgage payment and are at risk of default because of this economic hardship when coupled with a severe decline in their home's value.
• Creating a simple, effective way to get federal funds to assist low and moderate income homeowners who meet one or all of the objective criteria described above. Speed of delivery will be balanced with fulfillment of the specific program's mission and purpose.
• Creating programs that have an immediate, direct economic and social impact on low and moderate income homeowners and their neighborhoods.
  

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NOTE: These programs are only available to homeowners whose mortgage servicing company agrees to the terms and conditions governing the use of these funds. If your servicer is not currently participating in Keep Your Home California, you may want to call them and encourage them to do so. A homeowner cannot receive assistance if their servicer has not signed an agreement with CalHFA MAC. See a list of participating servicers and which programs they are currently offering.

Buyers Ready to Snatch Bargains This Spring

Daily Real Estate News  |  March 22, 2011  |    Share

Buyers Ready to Snatch Bargains This Spring 
Bargain prices on housing combined with low interest rates below 5 percent may bring the real estate market its busiest spring season in years, economists say. 

Distressed sales continue to put downward pressure on home prices, which may lure more buyers off the fence and ready to snag a deal during the typical prime-time buying season.

Some builders are ramping up discounts on new homes as well as boosting commissions to brokers to try to spark more transactions.

Sellers of existing-homes also are getting more competitive in pricing their homes. 

"After three years of the housing downturn, people are becoming much more realistic in terms of valuing their homes," says Lawrence Yun, chief economist at the National Association of REALTORS®.

An improved job market with better income potential may also motivate more people to buy, says David Berson of the PMI Group. 

“Household formations are also very important," Berson says. "Kids may have moved back in with their parents, or two people may have moved in together, because of job concerns. Now they can move into their own place."

While interest rates are sitting comfortably below 5 percent for now (30-year fixed rates averaged 4.76 percent last week), economists warn the attractive low rates won’t last long. 

"Few think mortgage rates are going lower," says Mark Zandi, Moody's Analytics chief economist. "It's more likely they will be 6 percent than 4 percent next spring. This lights a fire under buyers."

Source: “Discounts Expected in Spring Housing Market,” The Wall Street Journal (March 22, 2011)

February sales and price report

 

February sales and price report

California home sales decline in February as market adjusts to post-foreclosure freeze environment
 
LOS ANGELES (March 15) – Following three months of sales gains, California home sales posted a weaker-than-expected performance and declined in February, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). 
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 497,660 in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  February’s sales were down 9.0 percent from January’s revised pace of 547,080 and down 4.0 percent from the 518,390 sales pace recorded in February 2010.  The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the February pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

“With continued concerns about both the economy and housing market, consumers remain tentative moving forward with any home buying plans,” said C.A.R. President Beth L. Peerce.  “Nevertheless, current market conditions and loan rates at some of the lowest of all time continue to present attractive opportunities to those who are in a position to buy,” said Peerce.
The statewide median price of an existing, single-family detached home sold in California was $271,320, down 2.8 percent from a revised $279,140 in January and was down 2.5 percent from the $278,190 median price recorded for February 2010.  The February 2011 median price was the lowest since May 2009, when it was $263,440.

“The market pulled back in February, following three months of sales gains, when the ramifications of the robo-signing delays from last fall pushed sales into the period from November of last year to January,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “February’s sales drop indicates the effects of the foreclosure freeze are diminishing, and the market is returning to a more moderate sales pace,” she said.
Here are other highlights of C.A.R.’s resale housing report for February 2011:

• The Unsold Inventory Index for existing, single-family detached homes was 7.3 months in February, up from 6.7 months in January 2011.  The index was 6.0 months in February 2010.  The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
  
• Thirty-year fixed-mortgage interest rates averaged 4.95 percent during February 2011, compared with 4.99 percent in February 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.35 percent in February 2011, compared with 4.23 percent in February 2010.
  
• The median number of days it took to sell a single-family home was 64.4 days in February 2011, compared with 39.2 days for the same period a year ago.
  
• View Unsold Inventory by price point.

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS®   throughout the state, and represent statistics of existing single-family detached homes only.  County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  Due to the low sales volume in some areas, median price changes may exhibit unusual fluctuation.

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

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February 2011 County Sales and Price Activity
Regional and Condo Sales Data Not Seasonally Adjusted

February 2011	Median Price of Existing Single-Family Homes
State/Region/County	Feb-11	Jan-11		Feb-10		MTM% Chg	YTY% Chg
CA Single-family	$271,320	$279,140	r	$278,190	r	-2.8%	-2.5%
CA Condo/Townhomes	$236,360	$228,050	r	$249,010	r	3.6%	-5.1%
Los Angeles Metropolitan Area	$266,830	$268,940		$264,380		-0.8%	0.9%
Inland Empire	$174,040	$173,720		$172,230		0.2%	1.1%
S.F. Bay Area	$444,020	$457,660		$482,970		-3.0%	-8.1%
S.F. Bay Area
Alameda	$458,060	$435,110		$464,750		5.3%	-1.4%
Contra-Costa (CentralCounty )	$516,670	$565,790		$618,300		-8.7%	-16.4%
Marin	$632,580	$657,890		$782,610		-3.8%	-19.2%
Napa	$354,760	$313,890		$336,840		13.0%	5.3%
San Francisco	$606,560	$597,760		$654,660		1.5%	-7.3%
San Mateo	$623,000	$587,500		$655,000		6.0%	-4.9%
Santa Clara	$525,250	$530,000		$550,000		-0.9%	-4.5%
Solano	$191,790	$192,170		$204,300		-0.2%	-6.1%
Sonoma	$315,340	$338,090		$356,710		-6.7%	-11.6%
Southern California
Los Angeles	$286,220	$305,470	r	$282,230		-6.3%	1.4%
Orange County	$496,540	$511,590		$534,700		-2.9%	-7.1%
Riverside County	$203,630	$197,550		$198,130		3.1%	2.8%
San Bernardino	$131,470	$138,040		$134,050		-4.8%	-1.9%
San Diego	$367,770	$370,100		$372,100		-0.6%	-1.2%
Ventura	$389,650	$411,760		$451,720		-5.4%	-13.7%
Central Coast
Monterey	$239,950	$258,000		$255,000		-7.0%	-5.9%
San Luis Obispo	$328,750	$342,450		$370,510	r	-4.0%	-11.3%
Santa Barbara	$380,000	$365,620		$380,770	r	3.9%	-0.2%
Santa Cruz	$451,000	$425,000		$500,000		6.1%	-9.8%
Central Valley
Fresno	$141,360	$136,020		$152,740		3.9%	-7.5%
Kern (Bakersfield)	$125,000	$127,000		$130,750		-1.6%	-4.4%
Kings County	$154,000	$147,140		$165,000		4.7%	-6.7%
Madera	$149,230	$146,150		$160,000		2.1%	-6.7%
Merced	$117,270	$100,620		$101,740		16.5%	15.3%
Placer County	$269,670	$261,930		$288,490		3.0%	-6.5%
Sacramento	$168,800	$171,690		$180,000		-1.7%	-6.2%
San Benito	$285,000	$280,000		$279,450		1.8%	2.0%
Tulare	$120,340	$113,330		$135,000		6.2%	-10.9%

February 2011	Sales
State/Region/County	MTM% Chg	YTY% Chg
CA Single-family	-9.0%	-4.0%
CA Condo/Townhomes	4.2%	-1.3%
Los Angeles Metro Area	-3.0%	-5.5%
Inland Empire	5.1%	-3.1%
S.F. Bay Area	-2.8%	-4.2%
S.F. Bay Area
Alameda	-6.3%	-17.6%
Contra-Costa (CentralCounty )	16.8%	18.6%
Marin	18.9%	2.9%
Napa	-15.7%	4.2%
San Francisco	-20.6%	3.1%
San Mateo	-4.2%	-3.0%
Santa Clara	-0.8%	-0.5%
Solano	-6.7%	-8.2%
Sonoma	-0.4%	-14.0%
Southern California
Los Angeles	-11.2%	-9.4%
Orange County	-6.9%	-7.7%
Riverside County	6.4%	-4.5%
San Bernardino	3.0%	-0.7%
San Diego	7.5%	-3.6%
Ventura	15.4%	14.4%
Central Coast
Monterey	11.6%	4.8%
San Luis Obispo	-11.6%	20.1%
Santa Barbara	9.6%	-0.8%
Santa Cruz	2.1%	4.3%
Central Valley
Fresno	-1.8%	4.3%
Kern (Bakersfield)	-19.5%	-6.5%
Kings County	-3.4%	26.7%
Madera	6.1%	20.7%
Merced	23.8%	-26.5%
Placer County	3.5%	14.4%
Sacramento	-3.4%	3.6%
San Benito	-2.3%	-4.5%
Tulare	0.4%	5.0%
Other Counties in CA
Amador	-30.0%	21.7%
Butte County	-3.2%	-3.2%
Humboldt	-42.5%	-17.6%
Lake County	-6.8%	25.5%

 
February 2011 County Unsold Inventory and Time on Market
Regional and Condo Sales Data Not Seasonally Adjusted

February 2011	Unsold Inventory Index					Median Time on Market
State/Region/County	Feb-11	Jan-11		Feb-10		Feb-11	Jan-11		Feb-10
CA Single-family	7.3	6.7		6.0		64.4	61.8		39.2
CA Condo/Townhomes	7.8	7.9		6.6		71.8	71.2	r	41.7
Greater Los Angeles Area	7.5	6.6		5.4		65.4	62.2		39.8
Inland Empire	6.3	6.4		4.9		58.8	54.8		33.3
S.F. Bay Area	7.0	6.3		6.0		71.7	70.1		51.2
S.F. Bay Area
Alameda	6.9	6.1		5.1		96.1	88.2		73.4
Contra-Costa (CentralCounty )	6.5	7.1		6.8		107.5	103.7		75.1
Marin	8.4	6.4		7.9		110.6	92.7		87.8
Napa	9.9	8.3		10.5		92.6	85.7		61.0
San Francisco	8.5	6.1		7.7		68.3	59.7		42.4
San Mateo	6.8	6.1		5.5		33.0	44.3		27.5
Santa Clara	5.4	5.1		5.0		39.3	44.6		25.0
Solano	7.8	7.1		6.3		62.6	58.7		32.5
Sonoma	8.1	7.9		6.7		80.2	81.8		67.6
Sourthern California
Los Angeles	7.8	6.6		5.8		61.9	59.2	r	36.1
Orange County	9.6	6.6		8.5		85.9	82.9		59.5
Riverside County	6.4	6.5		4.6		64.2	57.1		36.6
San Bernardino	6.2	6.3		5.3		53.4	50.9		29.0
San Diego	8.9	9.4		7.7		62.9	59.6		40.5
Ventura	7.2	6.7		5.0		85.3	78.3		55.3
Central Coast
Monterey	6.2	7.1		6.3		49.5	47.0		29.4
San Luis Obispo	8.4	7.3		10.1		80.6	96.9		75.5
Santa Barbara	9.5	10.8		8.9		98.5	70.7		53.6
Santa Cruz	8.1	8.0		7.7		69.5	54.0		33.1
Central Valley
Fresno	NA	NA		NA		46.7	50.3		31.4
Kern (Bakersfield)	6.9	5.5	r	4.7		NA	NA		NA
Kings County	6.7	6.4		NA		65.8	56.0		47.9
Madera	7.8	8.3		NA		50.3	58.2		71.5
Merced	5.3	6.2		NA		33.7	35.8		24.9
Placer County	NA	NA		NA		NA	NA		NA
Sacramento	4.0	4.0		4.8		52.8	48.8		26.7
San Benito	6.0	6.5		5.2		47.6	43.7		24.6
Tulare	6.7	7.3		6.2		50.2	42.5		25.9
Other Counties in California
Amador	10.0	7.1		15.6		129.7	95.8		105.5
Butte County	9.8	9.3		8.9		99.3	64.6		69.3
Humboldt	13.8	7.5		10.7		73.4	85.7		49.9
Lake County	8.4	8.0		9.3		112.8	121.0		85.2
Mariposa And Tuolumne	10.3	13.8		18.8		103.1	83.8		95.8
Mendocino	11.0	9.0		15.4		91.0	95.8		109.1
Shasta	10.5	8.9		10.7		76.8	74.9		52.5
Siskiyou County	NA	NA		NA		NA	NA		NA
Tehama	12.6	13.8		9.1		49.1	69.3		33.4