354 Active Listings, of those listings 66 are either REO or Short Sale listings comprising 19% of the total. As usual, these calculations are made on sales activity of single family homes in the City – County areas of the South Tahoe Area Realtors MLS data.
186 Sold listings in the past three months with distressed properties making up 37% of those homes closed. 55 – 30% REO Listings 14 – 7% Short Sale Listings
Pending listings are made up of 75% of either REO or Short Sales.
The trend in which distressed properties are a minority of the inventory and a majority of those homes that are selling seems to have shifted down a bit. I will venture to say that “real sellers” have realized that their homes will sell if priced competitively and buyers would rather deal with a “real seller” rather than a bank and certainly rather than a short sale, which is anything but “short’. It is all about the well priced property. Let’s see what happens in the next month with the pending listings being comprised of 75% distressed properties. We’ll see how many of the short sale buyers get tired of the wait and snatch up a well priced home that not a distress sale. More Later.