Home market watcher Steve Thomas at the recently renamed Altera Real Estate in Aliso Viejo reports that the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 5,453 last week, -144 vs. two weeks earlier or a -2.6% change. The report also notes:
- Since mid-July’s peak, the number of distressed homes listed for sale is 8% lower. Last time there were fewer distressed homes for sale? The first week of April.
- As a percent of all listed homes for sale, distressed properties were 42.9% of the market last week vs. 43.3% two weeks earlier.
- Since Dec. 27, the number of distressed homes on the market has grown 1,702 while the non-distressed supply is 4,495 lower.
Here’s a look at various slices of the O.C. market as of last Thursday: total inventory listings; distressed property listings; and the share distressed listings have of total inventory supply on a percentage basis in each niche …
| Slice | All inventory | Distressed | Share |
|---|---|---|---|
| By price … | |||
| • O.C. $0-$500k | 6,875 | 4,269 | 62% |
| • O.C. $500k-$750k | 4,167 | 847 | 20% |
| • O.C. $750k-$1m | 1,750 | 258 | 15% |
| • O.C. $1m-$1.5m | 1,184 | 103 | 9% |
| • O.C. $1.5m-$2m | 654 | 27 | 4% |
| • O.C. $2m-4m | 761 | 13 | 2% |
| • O.C. $4m+ | 253 | 1 | 0% |
| All O.C. | 12,722 | 5,453 | 43% |
| • Attached | 4,838 | 2,436 | 50% |
| • Detached | 7,884 | 3,023 | 38% |
| County high share … | |||
| • Santa Ana | 1,228 | 972 | 79% |
| • Anaheim | 856 | 653 | 76% |
| • Garden Grove | 445 | 318 | 71% |
| County low share … | |||
| • Corona Del Mar | 176 | 3 | 2% |
| • Seal Beach | 228 | 7 | 3% |
| • Laguna Woods | 434 | 15 | 3% |
Other recent real estate reports …
- Double-digit rent increases coming to O.C.?
- O.C.’s late Sept. home price at 5-year low
- Wells Fargo uses varied approach to selling O.C. foreclosures
- Real estate slump holds ‘tremendous opportunities’
- Huntington Beach’s late Sept. homes sales up 19%
- North O.C. draws largest rent hikes
- Late Sept. homebuying up 29% in Irvine
Check out these O.C. trends…
- A doggone difficult time for people with dogs to rent
- Food Network star thrills fans at Williams-Sonoma
- Economic upheaval shocks business owners
- Irvine recession proof, but Newport at risk?
- KDOC pulls plug on ‘Daybreak OC’ newscast
- Billionaire Samueli’s sentencing delayed until August
- Economic recovery plan — plastic surgery
- O.C. rent increases becoming a rarity
- Sam’s Club offers cheap membership fee for holidays
- Time Warner Cable plans more channels in O.C. despite fines
steve thomas is a realtor with an agenda-
his numbers are skewed and worthless-
everyone and his brother knows banks
have been holding foreclosures off the market-
this is the best article yet on the bailout– dont believe me?
check it out
..
http://market-ticker.denninger.net/archives/614-Congress-Anna-Schwartz-Says-Youre-Wrong.html?ref=patrick.net
Home market watcher Steve Thomas …
You misspelled “cheerleader.”
Seriously, everyone knows why we’ve experienced a momentary dip in the massive foreclosure wave presumably including Mr. Thomas. SB 1137. Okay, that leaves two possibilities. Either Mr. Thomas does know what he’s talking about or he’s deliberately obscuring the truth behind his “data.”
Total inventory…
6875
+4167
+1750
+1184
+654
+761
+253
______
= 15,644
That is a difference of 2,922 more than the total Steve shows of 12,722, or a margin of error of 23%.
Distressed inventory…
4269
+867
+258
+103
+27
+13
+1
_______
= 5518
That is a difference of 65 more than the total Steve shows of 5453, or a margin of error of 1%.
These types of errors in Steve’s numbers happen every time his data gets posted. How no one in the press has held him accountable is beyond me. I could maybe let it slide if the margin of error was typically around 1%, but 23% is just ridiculous. It is time to find out why his numbers never add up month after month.
Steve Thomas…
RE Cheerleader: Pass
Statistics: FAIL