Latest numbers from Realtytrac.com:
Pre-Foreclosures - 2,833 properties
Auction - 545 Properties
Bank Owned - 1,260 properties.
Does this look like a "normal" market? Per the local real estate show on Saturday mornings, Bakersfield is in a "normal" market. Also, we now have 4,105 listings which is a 17.5 months supply and last week we had 160+ NOD's.
This sounds like a very bad market to me.
Saturday, May 19, 2007
Realtytrac Update
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5 comments:
that radio show is a joke. a love fest--no objective but I still try to listen
FYI, realtytrac is actually a horrible service to use when charting the foreclosure market, most of their information is anywhere between 7 to 14 days old.
Not knocking them or anything, but the numbers referred too at their site are acutally inaccurate.
I have never subscribed to realtytrac, however, based on the free part, I agree that it is a crappy service.
Unfortunately, it is the only free service I can post and link to. Their site has shown things increasing for the last year, so I think there is some value to it.
I agree, it is a great free indicator.
My comments were not made to offend, I subscribed to it years ago, and then resubscribed recently to see if it reported the preforeclosure and reo market more accurately and timely.
To no avail.
Farmers get paid not to produce crops when theres too much. Maybe developers and builders should put in for their subsidies now.
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