You will hear nothing but the truth backed up with facts from my blog.  Good, Bad or Ugly.  Nothing but the truth!  I have built my 20 year career here in Venice/Englewood with that integrity and I will give you nothing less here on my little space on the web.

What I am referring to when I state that the “pipeline is thinning” is that while sales(homes closed) were very good for the month of June, the number of homes under contract have been dwindling the last two months.  We have gone from 541 pendings in April and 538 pendings in May, to 439 pendings in June and 333 pendings to date in July with over half of those pending sales being short sales.  Good deals are staying on the market longer.  I want to reiterate “good deals are staying on the market longer”  I still believe it is a great time to pick up a great deal.  Prices are stable, this is a fabulous buyers market.

The inventory of Bank owned homes stay consistent, 70-90 homes in inventory.  Short sale inventory is increasing slightly, but the good news there is that banks are finally getting better at negotiating short sales versus foreclosing, that will help to keep our market stable and eventually start it back on the path to recovery.  Even the Feds have adopted the short sale “HAFA” program that they so conveniently excluded themselves from in the beginning.  If you missed my previous blog on “HAFA” be sure to go back and read it.  Look for a future article soon on the minor changes that FNMA and Freddie Mac made and adopted. 

Average days on the market - 127 and the list to sell ratio is at 93% 

If you have any questions about the market, if you are considering buying or selling real estate call, e-mail or text me.

I will continue to be YOUR Real Estate source.  I look forward to helping you!