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Signs of market stabilizing

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CSP 49

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Dec 2, 2008
Professional Status
Certified Residential Appraiser
State
Florida
I received the Market Pulse email published by the Orlando Board of Realtors. The median price increased from Nov. to Dec. from $166,000 to $169,900. The average price was still down from $207,500 to $204,100 but much less of a drop than the previous month going from $220,200 to $207,500. Sales volume was also up substantially from Nov. to Dec. by approximately 200 units from 1,110 to 1,305. That's a nice percentage increase.

I realize one month does not make a new trend but its nice to see some stabilization.
 

Karl

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Jan 15, 2002
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State
Arizona
How many were "Investor" purchases?? What concessions & have the sales been verified with documentation that they closed??
 

leelansford

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Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
I'd do further research before I would conclude that the recent activity is an indicator of a turn-around in the market.

One possibility: investors are taking advantage of the perceived bargains (REOs, Short Sales) and making some purchases.
 

Ken B

Elite Member
Joined
Feb 18, 2004
Professional Status
Certified General Appraiser
State
Florida
The Case-Schiller Index took a "breather" earlier this year in this area before continuing its slide into oblivion. I would not make any assumption regarding stablization until inventories and marketing times start to significantly decrease.
 

Mike Garrett RAA

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Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
It sure looks like it is stablizing IN MY MARKET.
 

Joe Booth

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Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
California
show us some graphs.
 

Joe Booth

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Professional Status
Certified Residential Appraiser
State
California
Here is one of mine. Fire away.
 

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Mr Rex

Elite Member
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Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
I'd hang my hat on "Realator" graphs and pro-jections. :huh:

You bethca.
 

CSP 49

Thread Starter
Member
Joined
Dec 2, 2008
Professional Status
Certified Residential Appraiser
State
Florida
2yearrunningrecap109.gif
 

Joe Booth

Junior Member
Joined
Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
California
Very nice CSP. In the second graph, are you showing the total number of pending versus the new pending versus the sales? If so what can we infer from this data?

It appears you are still in a declining market and you have some good activity.
 
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