The inventory of houses around North SD County Coastal has been tight lately, is it getting any better? Here are the counts of new MLS listings of detached homes (includes many re-lists in new year too!) for the North SD County Coastal region, from December 1 to January 7th:
It seemed likely that by the time we got to 2011, the inventory would be a bank-controlled environment – where REO and short-sale listings would dominate. Here are the number of listings from the above counts that are marked as REOs and short-sales:
|Year||REOs||SS||Totals||% of All|
Not a lot of hope for deals there. A prominent REO-listing agent reported last week that they haven’t received a new assignment from Bank of America in months. While BofA’s self-inflicted robo-signing moratorium has been lifted, they are still behind last year’s pace. Here are the Recontrust foreclosures between Dec. 1 – Jan. 7:
|Year||# of SD Properties Foreclosed By Recontrust|
BofA is still foreclosing, but the drip system appears to be fully deployed. For the buyers hoping for a surge of more inventory, hang in there!