“In the first half of 2007, the county had a record 2,896 foreclosures” If we assume this rate, that 2007 will close at about 5800 foreclosures.
“Today, of the nearly 24,000 listings of resale houses, condominiums and mobile homes, roughly one-fifth were identified by Sandicor a local multiple listing service, as distressed properties either in foreclosure or approaching the stage where owners could lose their homes.” 1/5 means about 4800 as distressed. But that includes all the short sales and NODs that are not yet foreclosed.
It’s obvious that all the foreclosed properties are not on the market yet. Could we hit close to 30,000 listings in 2008 with distressed properties making up a larger proportion of that?
