Percentage of Short Sales and REOs?

[cashman]

By, the way, Gary, you didn’t happen to grow up and go to school in the San Fernando Valley, did you? I had a very good friend in Jr. High named Gary Sears.

[cashman]

By, the way, Gary, you didn’t happen to grow up and go to school in the San Fernando Valley, did you? I had a very good friend in Jr. High named Gary Sears.

[lindismith]

Cashman I think you’re dead right.

[lindismith]

Cashman I think you’re dead right.

[garysears]

The main point I was trying to post originally: Of the 30 current listings in El Cajon for 2bd condos under $200K, 19 are either REOs (5) or short sales (14). The new “short sale” search function on ziprealty.com returns some REOs but not all. The bottom end of the market in El Cajon is definitely under stress. 8 of the 10 lowest listed prices were short or REO. The number of sub $200K listings has increased substantially in the last few weeks and prices continue to be reduced. I think 2/3 stressed properties at the bottom end of the market is going to continue to drag prices expectations down. The search for all properties in El Cajon listed about 10% as “short sales”. That % apparently includes a few, but not all REOs.

Cashman, I grew up in Montana and moved to S.D. in 2003.

[garysears]

The main point I was trying to post originally: Of the 30 current listings in El Cajon for 2bd condos under $200K, 19 are either REOs (5) or short sales (14). The new “short sale” search function on ziprealty.com returns some REOs but not all. The bottom end of the market in El Cajon is definitely under stress. 8 of the 10 lowest listed prices were short or REO. The number of sub $200K listings has increased substantially in the last few weeks and prices continue to be reduced. I think 2/3 stressed properties at the bottom end of the market is going to continue to drag prices expectations down. The search for all properties in El Cajon listed about 10% as “short sales”. That % apparently includes a few, but not all REOs.

Cashman, I grew up in Montana and moved to S.D. in 2003.

[(former)FormerSanDiegan]

Gary – Are you inadvertently hitting control characters (such as the less-than or greater-than symbols) or hitting the tab key ? Is so, than what is probably

[(former)FormerSanDiegan]

Gary – Are you inadvertently hitting control characters (such as the less-than or greater-than symbols) or hitting the tab key ? Is so, than what is probably

[Author]

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