Table Definitions _______________
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 32.1% in Marchfrom the year before. Notices were up 14.7% from Feb-ruary.Notices of sale, which set the date and time of an auc-tion, and serve as the homeowner's final notice beforesale, were down 22.3% year-over-year, and down16.9% from January. 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 11.7% year-over-year, and up 11.7% from February.Properties going back to the bank rose in March fromFebruary by 22.6%. Year-over-year, properties goingback to the back also rose 22.6%.The total number of homes that have had a notice of default filed declined by 20.1% in March compared toMarch 2010. They were down 2.7% from February.The total number of homes scheduled for sale de-creased by 6.3% from February, and, were down 3.9%year-over-year.Unfortunately, the total number of homes owned by thebanks was up 24.8% year-over-year. Ouch!