Life & Real Estate in Eugene, Springfield & Lane County, Oregon

Here is a post on the future of the short sale that has attracted lots of comments on ActiveRAIN.

But here is also my frank prediction for short sales in 2011:

Whether short sales continue as a big market segment is solely up to the banks....in two ways.

1) The banks are wanting regular sale prices for short sale properties.  That will only work for buyers if lenders shorten the processing period to be equivalent to an ordinary loan. 

Some lenders think they have. None have.  Buyers still expect a price premium.  If banks are unwilling to speed up or price down, short sales will go the foreclosure route more and more.

2) Short sales have now been going on in large numbers for some time. They have been chosen by sellers based upon a general promise that they can buy again sooner.

Many short sellers are not anxious to buy soon.  But if large numbers try and fail to be approved in the mysterious 2-3 year window the industry has been talking, watch out for a lot of negative press for the short sale...and a serious "come to Jesus" moment for the industry - both banks and brokerages.

I believe 2011 will tell the tale on these two variables...in a big way:   one way or the other.

What a sad....and all too common...tale.

It would suffice as a "condensation" of our economic problems as a nation.

Publicly-held corporations are killing this country.  They are not capitalism.  The privately held companies are the real capitalism.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN SPRINGFIELD, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

THURSTON

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

 NOTE:  IN  2005 THE ACTIVE INVENTORY AT THE END OF THE MONTH WAS EQUAL TO OR SLIGHTLY LOWER THAN THE NUMBER OF CLOSED SALES DURING THOSE MONTHS OF MAY.

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN SPRINGFIELD, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

HAYDEN BRIDGE

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

 NOTE:  IN 2004 AND 2005 THE ACTIVE INVENTORY AT THE END OF THE MONTH WAS EQUAL TO OR SLIGHTLY LOWER THAN THE NUMBER OF CLOSED SALES DURING THOSE MONTHS OF MAY.

NOTE:  THE RMLS SPLIT HAYDEN BRIDGE OUT OF THE (SW) SPRINGFIELD MARKET AREA BEGINNING IN 2003.

DATA FOR THAT COMBINED AREA IS NOT SHOWN IN THESE CHARTS.

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN EUGENE, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

WEST EUGENE

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

And a decade of Average Prices for Closed Sales
for Homes in Eugene, Oregon for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median for homes sold would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN EUGENE, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

SOUTHWEST EUGENE

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN EUGENE, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

EAST EUGENE

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN EUGENE, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

BETHEL - DANEBO

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN EUGENE, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

RIVER ROAD

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.

THE MOST MEANINGFUL LOOK AT DATA FOR HOMES FOR SALE IN EUGENE, OR

 IS TO COMPARE

THE CURRENT MONTH WITH THE SAME MONTH IN PRIOR YEARS

So for the

SANTA CLARA

RMLS Market Area, HERE ARE:

A decade's worth of supply (Active Listings) and demand (Closed Sales)
for the

Months of NOVEMBER

2001 - 2010:

And a decade of Average Prices for Closed Sales
for the

Months of NOVEMBER

2001 - 2010:

These average sales prices represent the arithmetic mean for those residential closed sales in this RMLS market area.   The mix of homes sold varies over time.  The average price for some months is drastically affected by an unusual number of homes selling at the TOP or BOTTOM of the range of prices.  A history of the variation in the statistical median would make for a better comparison but is unavailable from RMLS.