stepping_up_IHB
New member
In the little microcosm of my neighborhood I estimated that somewhere around 25% of the homes total will have gone through a distressed sale and approximately half of them have cycled through. They are currently selling today for about 54% off peak and sell quite quickly at that price. This isn't Santa Ana, but it's also not the East Side of CM. I'm just wondering if this is about what is expected for a not nice but not bad neighborhood.
The other thing I"m wondering, is how the second half that hasn't cycled yet will affect the prices. Short sales seem to be going through and the REO's get snapped up within days lately. I figure it's probably going to take another year and a few months to get through this second half that need to cycle through. There has only been one house that is not distressed even attempt to sell and he has his at such a WTF price that it ain't going anywhere. If they are moving fast at current asking prices, how much further will they fall?
The other thing I"m wondering, is how the second half that hasn't cycled yet will affect the prices. Short sales seem to be going through and the REO's get snapped up within days lately. I figure it's probably going to take another year and a few months to get through this second half that need to cycle through. There has only been one house that is not distressed even attempt to sell and he has his at such a WTF price that it ain't going anywhere. If they are moving fast at current asking prices, how much further will they fall?