The price at which 50% of priceswere higher and 50%were lower.
Add all prices and divide by thenumber of sales.
Sales price to list price ratio or theprice paid for the property divided bythe asking price.
Days of Inventory, or how manydays it would take to sell all theproperty for sale at the current rateof sales.
Property under contract to sell thathasn’t closed escrow.
Number of properties actively forsale as of the last day of the month.
Susan Strouse, B.S., M.A.
Strouse Realty GroupAmerican Dream Realty
5522 Scotts Valley Dr.Scotts Valley, CA 95066(831) 338-6481Susan@StrouseRealtyGroup.comhttp://www.StrouseRealtyGroup.com
Notices of default, the first step in the foreclosure pro-cess, in Santa Cruz County decreased 41.3% in Febru-ary from the year before. Notices were down 14.3%from January.Notices of sale, which set the date and time of an auc-tion, and serve as the homeowner's final notice beforesale, were up 13% year-over-year, and up 2.4% fromJanuary.After the filing of a Notice of Trustee Sale, there areonly three possible outcomes. First, the sale can becancelled for reasons that include a successful loanmodification or short sale, a filing error, or a legal re-quirement to re-file the notice after extended postpone-ments. Alternatively, if the property is taken to sale, thebank will place the opening bid. If a third party, typicallyan investor, bids more than the bank's opening bid, theproperty will be sold to the third party; if not, it will goback to the bank and become part of that bank's REOinventory.
In January, cancellations were up 17.7% year-over-year, and up 11.1% from January.Properties going back to the bank dropped in Februaryfrom January by 7%. Year-over-year, properties goingback to the back declined 11.7%. This is good news.But, the total number of homes that have had a noticeof default filed increased by 11.6% in February com-pared to February 2010. Although, they were down9.4% from January.The total number of homes scheduled for sale in-creased by 1.8% from January, and, were up 5.5%year-over-year.Unfortunately, the total number of homes owned by thebanks was up 24.97% year-over-year. Ouch!