Analysis 24 January 2010

 I suspect that this past week may be the harbinger of things to come – more Listings than Sales in the Zip Code.

In the past seven days, there were 27 new listings, and 10 homes went into Pending. Ten more from many weeks past also closed escrow, but they may have been in escrow for many months so it is the Listings and Pendings that capture my mind in a set time.

Now, I further suspect that some of those 27 were just previously listed homes that were taken off the market for the Holidays, but still 27-10 is a “fur piece” from what has been the “new norm” for the past several months when we had virtual equality between Listings and Pendings.

With more than three million homes scheduled to go into Foreclosure this year, we may see many weeks like this. We can only hope for a continuation of reluctance on the part of lenders to flood the market – flooding the market is NOT in their enlightened self-interest – and we can also hope for a good sales market.

Counting on smart money management from lenders is asking for what is not, and never has been. Guess we should just trust to luck – that actually has more promise.

In The Meadows there were two new Listings;

Price $     Address                             Est SF     Beds Bath Story Yr Blt     #Ac     Markt Time

289,800 26855 COUGAR PASS ROAD 864     2         1         2     1955     7.54         5

699,900 10136 Boulder Knolls Dr.     2500         3         3         1     2000     1.18         4

No Meadows homes went into Pending or Closed escrow this past week.

There was no Realtor Caravan this past week, but perhaps there will be one on Thursday if the weather holds.