Total El Cajon MLS (according to ziprealty): 954
Total El Cajon REO and Auction (realtytrac): 764
If you include NODs (realtytrac): 1263
If you use the map search function on realtytrac to zoom out and recenter so only what appear to be San Diego county is included (Poway is north limit, Alpine is east limit):
REO and Auction properties: ~ 13,300
Including NODs: ~ 28,500
It looks to me like there are several months of inventory at current sales rates if you only include the REOs. Am I missing something?
For some reason I can’t get foreclosureradar.com search function to work right now but it lists properties by zipcode. You should easily be able to crosscheck those numbers against the MLS.
It would be interesting to track REO/Auction and NODs vs MLS for different zip codes. I think that for Spring Valley and Encanto it is possible the total MLS inventory is about the same as REO and Auction inventory. The distressed and “wish I could sell” inventory has to be just staggering.
“Wish I could sell” and “If I can sell” is starting to be a phrase I’m hearing at work.
