By John O’Dell How’s Nevada County’s residential sales going? Let’s take look at the years 2010 and 2011 from January to October of each year and compare the two. The Year 2010 from January to the end of October. There were a total of 1,619 listings. Total sales in that period were 750. Average list [...]
By John J. O’Dell The number of residential sales from June 8, 2008 to June 10, 2010 increased 77 percent, a dramatic increase in the last two years. In June of 2008, 64 residential properties sold. In June of this year, 113 residential properties sold. The average number of days for a residential property to [...]
The good news is that sales volume picked up 7 percent. In November of 2007 to November of 2008, 839 homes had been sold. From November 2008 to November 2009 897 homes were sold, an increase of 7 percent. The average sales price in November 2008 was $395,609. In November 2009 the average sales price [...]
Prices in Nevada County residential property continued to drop overall from July of this year compared to July of 2008. Overall, there was $290,919,175 in residential sales compared to $355,118,054 for the same period last year. The median price dropped from $414,858 to $347,989. Sales decreased only 2% compared to a median price drop of [...]
Smart investors are continuing to take advantage of the present foreclosure market. I don’t have an exact figure of how many foreclosures there are in Nevada County, but I just had one of my investors open escrow on two foreclosed homes in Nevada County. With some existing home prices under $200,000 in the county, there [...]
The National Community Reinvestment Coalition (NCRC) filed a consumer protection complaint to the Federal Trade Commission alleging Zillow.com is misleading consumers, real estate professionals and financial service providers. Humm, I don’t know too many consumers, real estate professionals and financial service providers that put much stock in home prices by Zillow.com or other on-line valuation [...]
Nevada County homes sales increased in the three months of April to June, 2009 compared to the same period in 2008 by 14%. Sales for the three month period in 2008 were 203 housing units compared to the three month period in 2009 of 231 housing units. However, the average sales price dropped 17% in [...]
Foreign real estate investors expect the U.S. real estate market to recover by the end of the second quarter of 2010, according to a survey released Wednesday by the Association of Foreign Investors in Real Estate (AFIRE). Survey respondents were optimistic about the prospects for good returns, with more than two-thirds planning to invest in [...]
California is imposing a 90-day moratorium on housing foreclosures under a new law that takes effect Monday, June 15, 2009. The law is expected to make lenders try harder to keep borrowers in their homes. Loan companies must prove they tried to modify the delinquent loans before they can begin foreclosing. But supporters acknowledge the [...]
Housing research organization IHS Global Insight estimates that the average U.S. home is undervalued by 12.2 percent, and many previously pricey communities are undervalued by considerably more. A recent study released by IHS used home prices, interest rates, area incomes, population density, and historic premiums and discounts to analyze housing values. It examined 330 [...]
