Posted on July 20, 2012 by Corey Hart
Jul

20

2012

The June MarketWatch videos are live, we've posted the Northern Virginia report below.  Visit the Videos tab to view the latest video for your region or grab the embed code to add it to your site. While you're in website improvement mode, consider embedding the RBI Mid-Year Distressed Properties Report (below the video here) using the Share option in the player toolbar...after taking in the first-of-its-kind content of course)..

 

market analysis, videos
Posted on July 18, 2012 by Corey Hart
Jul

18

2012

With rumors of a new wave of distressed properties about to hit nationally, RealEstate Business Intelligence (RBI) decided to take a closer look at the distressed housing story in the Mid-Atlantic region. The report is posted below for easy viewing, and more importantly, sharing with any customers engaged in the short sale market segment. While our DC Metro and Baltimore Metro reports have shown a consistent decline in the number of distressed sales over the course of this year, this report looks even deeper into what's happening within these segments. A few highlights:

  • 23 of 45 jurisdictions saw a higher share of short sales compared to this time last year and 44 of 45 jurisdictions experienced a drop in the share of foreclosure sales.
  • The fallout rate for short sale contracts (47.9%) is significantly higher than for foreclosures (16.0%) or conventional sales (13.8%).
  • Once a contract is signed, it is taking short sales more than twice as long to settle as foreclosures or conventional sales.

Print the report, share via Twitter or embed it on your website using the links in the toolbar below.  More importantly, read through the entire report so that you have a clear understanding of what's happening with the average distressed property and confidently set expectations with your buyers and sellers going forward!

 

 

Comments: 1 |
Posted on July 10, 2012 by Corey Hart
Jul

10

2012

Rockville, MD – (July 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on June 2012 MRIS housing data.

OVERVIEW

Median sale prices continue to climb through most of the Washington Metro Area.  Price gains, decreasing days-on-market (average down 10 days from June 2011), and a tightening sale-to-list price ratio (up 2.0 percentage points from June 2011) are evidence that the diminishing inventory of homes for sale in the region is having an impact on the market.  The DC Metro Area posted its 16th consecutive month of year-over-year declines in active listings, and the pattern appears to be holding as new listings in June are at a historic low.  The condo market is showing signs of strength, outpacing detached homes and townhomes in June on year-over-year growth in sales, median price gains, and new contracts.

Posted on July 10, 2012 by Corey Hart
Jul

10

2012

Supply Continues to Shrink - Lowest New Listings in Fifteen Years

Rockville, MD – (July 10, 2012) – The following analysis of the Baltimore, MD Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on June 2012 MRIS housing data.

OVERVIEW

Median sale prices are on the rise throughout the Baltimore Metro Area, and metro-wide, have reached $250K for the first time in two years.  Despite the rising median prices, overall economic uncertainty could be a major factor in keeping many would-be sellers on the sidelines.  The quantity of active listings continues to drop, and the new listings entered in June are the lowest June-level since 1997.   The shrinking inventory of homes for sale in the region coupled with growing buyer activity is pushing prices up, and shortening the average days-on-market (down 14 days since June 2011).  Sale-to-original list price ratios have also narrowed (increasing 2.9 percentage points since June 2011), further evidence of a tightening market.  Detached homes are driving sales growth in the metro area; however the condo market posted the highest percentage growth of new contracts in June, and perhaps early evidence of a changing pattern.

Posted on June 29, 2012 by Corey Hart
Jun

29

2012

Question: After reading so many gloomy reports about "shadow inventory", does that mean there are more distressed sales this year than there were last year around here?

Answer: NO. Through May, short sales and foreclosures accounted for 27.3% of all sales in the MRIS area. This is down from 36.6% over the same stretch last year.

Question: Are both categories (short sales and foreclosures) down year-over-year?

Answer: NO. The percent of sales that are short sales is up slightly through May, from 12.9% in 2011 to 13.7% in 2012. Fortunately, the rate of foreclosed sales has gone down substantially. Foreclosures made up 23.7% of sales in Jan-May 2011. Through May 2012, foreclosures are only 13.6% of sales.

Question: Great, but surely there must be a handful of counties within MRIS that have seen at least a slight bump up in foreclosure sale rate?

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