For this being the last scheduled year for the debt-tax exemption, the distressed listings are sure dripping out slowly around here.

Here are the number of January short-sale and REO listings in NSDCC:

Year Short-sales REOs Percent of all new listings
2010
49
17
16%
2011
44
10
10%
2012
38
14
13%
2013
14
9
4%

The 4% mark should be the point where we can say that this is a retail, non-distressed environment – what we used to call a seller’s market.

It means that sellers can probably expect 1% to 5% more than the last nearby comparable sale, and maybe more if everything goes right (better location, upgraded look, lack of other choices, and experienced listing agent).

Respect one thing – the buyers have the money.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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