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The figures are for residential properties only in the Lake
County area.. The information is from the NW MT Multiple Listing Service but
the math is mine… remember that I am no math wizard. Want to know how much
the foreclosures have affected our market?
I thought I’d run some numbers for that in addition to the
usual. Until all the foreclosures and short sales are gone we will not have
a “normal” market. People are still buying and selling property as they
always have, too. It's all part of the cycle just like the stock market. It
will get
better, I promise. Hang in there.
If you read the local newspapers you will see lots of notices of
foreclosure. Bear in mind that three notices are required to be published
for each instance. That pumps up the reading volume. A “short sale” occurs
when the lender is willing to take less in satisfaction of the mortgage than
what is actually owed. It is a lengthy process both as a homeowner or to buy
a property that is in “short sale status.” Call me if you have questions and
I’ll try to answer.
Let me know if you want to look at foreclosures or short
sale properties. There are special considerations and sometimes very
specific restrictions.
DOM= Days on Market —REO Real Estate Owned by Lender
|
Price Range |
Active
Current
Listings |
Active
Under
Contract |
DOM
Max 2011 |
Sold
2011
YTD |
Sold
YTD201
0 |
Avg DOM
To Closing
2011 |
REO
Active
YTD |
REO
Closed
YTD |
Short
Sale
Active |
Short
Sale
Closed |
|
0-$99,999 |
16 |
1 |
697 |
34 |
17 |
214 |
3 |
2 |
1 |
1 |
|
100,000-
149,999 |
3031 |
5 |
1422 |
30 |
27 |
208 |
5 |
3 |
2 |
0 |
|
150,000-
199,999 |
43 |
0 |
1281 |
25 |
22 |
235 |
1 |
7 |
0 |
0 |
|
200,000-
249,999 |
17 |
0 |
526 |
22 |
18 |
280 |
1 |
1 |
0 |
2 |
|
250,000-
299,999 |
35 |
2 |
1373 |
17 |
11 |
262 |
1 |
2 |
1 |
1 |
|
300,000-
349,999 |
29 |
0 |
1356 |
9 |
3 |
297 |
3 |
1 |
1 |
0 |
|
350,000-
399,999 |
25 |
0 |
812 |
2 |
11 |
197 |
1 |
1 |
1 |
0 |
|
400,000-
499,999 |
14 |
0 |
1013 |
7 |
9 |
237 |
1 |
4 |
0 |
1 |
|
500,000-
749,999 |
26 |
1 |
966 |
16 |
18 |
283 |
0 |
3 |
0 |
1 |
|
750,000-
999,999 |
17 |
0 |
411 |
6 |
5 |
179 |
0 |
1 |
0 |
0 |
|
1,000,000 |
31 |
1 |
1653 |
3 |
7 |
647 |
0 |
1 |
0 |
1 |
|
Totals
12/31/2011 |
283 |
10 |
###### |
171 |
148 |
247 |
22 |
26 |
6 |
7 |
Polson Real Estate Archived Articles
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