San Diego, CA 92115 Home Values Decline 11.4% - www.brianward.com

Over the past year the median $/Sqft of homes in San Diego zip code 92115 declined 11.4%.  However, property values peaked around August of 2010 and have declined more rapidly since.  When comparing the two most recent 3 months periods, property values have declined 8.7%.  These declines are likely due to the waning effect of the federal tax credit for new home buyers, which expired at the end of April 2010, and the influence of increasing mortgage interest rates in recent months.  Based on the number of sales over the past 3 months there are currently 5.9 months of housing inventory indicating a balanced demand/supply trend.  Properties sold after a median of 45 active marketing days over the past 3 months indicating a marketing time trend of less than 90 days.  According to the local MLS, 43% of all sales over the past 3 months were bank sales or short sales which is an effectively equal ratio compared with the same period last year when 44% of all sales were bank sales or short sales.  Bank sales and short sales are at historically high levels that are putting downward pressure on property values.

Brian Ward

San Diego, CA Home Appraiser

http://www.brianward.com

Carlsbad, CA 92009 Housing Statistics

When comparing the most recent 3 month period with the same period last year the median $/Sqft of properties in the the Carlsbad, CA zip code of 92009 increased 1.8% from $257.79 to $262.49, which is a negligible difference and indicates a stable property values trend.  There are currently 7.9 months of housing inventory indicating a balanced supply and demand trend.  Over the past 3 months, properties sold after a median marketing period of 31 days and an average marketing time of 60 days, indicating a marketing time trend of 0-3 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future.

Foreclosure / Short Sale Related Statistics:
Past 30 Days (MLS)
* 64 Total Sales
* 5% of all sales were bank sales
* 16% of all sales were short sales

1 Year Ago (MLS)
* 45 Total Sales
* 24% of all sales were bank sales
* 9% of all sales were short sales

Currently:
* 105 Bank owned homes (CoreLogic)
* 149 Properties in foreclosure (CoreLogic)
* 116 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)
* 26 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 75% of bank owned homes not actively listed in the MLS
* 28 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the local MLS.

Brian Ward
Real Estate Appraiser
brianwardappraisal@gmail.com

San Diego, CA 92111 Housing Statistics

When comparing the most recent 6 month period with the same period last year the median $/Sqft of properties in San Diego, CA 92111 decreased from $241.01 to $212.84 which is an 11.7% decrease but when comparing the most recent 6 month period with the previous 6 month period the median $/Sqft increased from $196.41 (8.4%) which indicates that the market is currently in an increasing property values trend.  There are currently 5.6 months of housing inventory indicating a balanced supply and demand trend.  Over the past month, properties sold after a median marketing period of 32 days and an average marketing time of 74 days, indicating a marketing time trend of 0-3 months.

There were 7 bank (REO) sales over the past month which was 18% of all sales and consistent with the same period last year when there were 9 REO sales which was 20% of all sales.  Similarly, there were 4 short sales over the past month (10% of all sales) and over the same period last year (9% of all sales).  Over the past month there were 12 new REO listings which was 19% of all new listings which is a decrease from the same period last year when there were 17 new REO listings which was 30% of all new listings indicating a decrease in the ratio of REO listings, although there is evidence that there may not a decrease in the supply of REO properties.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future.

Foreclosure / Short Sale Related Statistics:
Past 30 Days (MLS & CoreLogic)
* 39 Total Sales
* 18% of all sales were bank sales
* 10% of all sales were short sales

* 19% of new listings that are bank (REO) listings.
1 Year Ago (MLS)
* 45 Total Sales
* 20% of all sales were bank sales
* 9% of all sales were short sales

* 30% of new listings that are bank (REO) listings.
Currently:
* 67 Bank owned homes (CoreLogic)

* 107 Properties in foreclosure (CoreLogic)

* 64 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)
* 25 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 63% of bank owned homes not actively listed in the MLS
* 22 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the local MLS.

Brian Ward

Real Estate Appraiser

brianwardappraisal@gmail.com

Coachella, CA 92236 Housing Statistics

When comparing the most recent 3 month period with the same period last year the median $/Sqft of properties in the city of Coachella, CA increased from $78.46 to $85.03 which is an 8.4% increase and but indicates an increasing property values trend.  There are currently 9.1 months of housing inventory indicating a balanced supply and demand trend.  Over the past month, properties sold after a median marketing period of 49 days and an average marketing time of 90 days, indicating a marketing time trend of 0-3 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future.

Foreclosure / Short Sale Related Statistics:
Past 30 Days (MLS)
* 26 Total Sales
* 38% of all sales were bank sales
* 46% of all sales were short sales

1 Year Ago (MLS)
* 50 Total Sales
* 64% of all sales were bank sales
* 28% of all sales were short sales

Currently:
* 265 Bank owned homes (CoreLogic)
* 233 Properties in foreclosure (CoreLogic)
* 152 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)
* 74 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 72% of bank owned homes not actively listed in the MLS
* 30 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the local MLS.


Brian Ward
Real Estate Appraiser
brianwardappraisal@gmail.com

Palm Desert, CA Housing Statistics

When comparing the most recent 3 month period with the same period last year the median $/Sqft of properties in the city of Palm Desert, CA zip code of 92027 decreased from $161.70 to $159.50 which is a 1.4% decrease but indicates a stable property values trend.  There are currently 8.5 months of housing inventory indicating a balanced supply and demand trend.  Over the past month, properties sold after a median marketing period of 105 days and an average marketing time of 155 days, indicating a marketing time trend of 3-6 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future.

Foreclosure / Short Sale Related Statistics:
Past 30 Days (MLS)
* 68 Total Sales
* 22% of all sales were bank sales
* 13% of all sales were short sales

1 Year Ago (MLS)
* 65 Total Sales
* 35% of all sales were bank sales
* 2% of all sales were short sales

Currently:
* 287 Bank owned homes (CoreLogic)* 305 Properties in foreclosure (CoreLogic)
* 229 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)
* 61 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 79% of bank owned homes not actively listed in the MLS
* 34 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the local MLS.

Brian Ward
Real Estate Appraiser

brianwardappraisal@gmail.com

brianwardappraisal@gmail.com
http://www.palmdesertappraiser.com

Escondido, CA 92027 Housing Statistics

When comparing the most recent 3 month period with the same period last year the median $/Sqft of properties in the Escondido zip code of 92027 increased from $152.42 to $180.91 which is a 19% increase and indicates an increasing property values trend.  When comparing the most recent 3 month period with the previous 3 month period the median $/Sqft of properties decreased 2.9% indicating that although property values increased over the past year, it has stabilized recently.  There are currently 7.6 months of housing inventory indicating a balanced supply and demand trend.  Over the past month, properties sold after a median marketing period of 33 days and an average marketing time of 77 days, indicating a marketing time trend of under 3 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from foreclosures and other distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future.

Foreclosure / Short Sale Related Statistics:
Past 30 Days
* 48 Total Sales
* 19% of all sales were bank sales
* 26% of all sales were short sales

1 Year Ago
* 82 Total Sales
* 41% of all sales were bank sales
* 16% of all sales were short sales

Currently:
* 106 Bank owned homes
* 249 Properties in foreclosure
* 162 Properties with mortgages 60+ days late but not in foreclosure
* 42 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 60% of bank owned homes not actively listed in the MLS
* 24 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the local MLS.

Brian Ward
Real Estate Appraiser
Escondido@ca-appraiser.com
http://escondido.ca-appraiser.com/

San Diego, CA 92154 Housing Statistics

The median $/Sqft of properties over the past year changed +2.3% when comparing the most recent 3 month period with the same period last year, indicating a stable property values trend.  There are currently 7.4 months of housing inventory indicating a balanced supply and demand trend.  Over the past month, properties sold ofter a median marketing period of 40 days and an average marketing time of 76 days, indicating a marketing time trend of under 3 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from foreclosures and other distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future. 

Foreclosure / Short Sale Related Statistics:

Past 30 Days

* 56 Total Sales

* 29% of all sales were bank sales

* 27% of all sales were short sales

1 Year Ago

* 70 Total Sales

* 50% of all sales were bank sales

* 19% of all sales were short sales

Currently:

* 157 Bank owned homes

* 360 Properties in foreclosure

* 222 Properties with mortgages 60+ days late but not in foreclosure

* 66 Bank listings in MLS (active, in escrow, and awaiting bank approval)

* 58% of bank owned homes not actively listed in the MLS

* 24 Months of current and potential bank sale and short sale inventory for bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the MLS.

Brian Ward
Real Estate Appraiser

brianwardappraisal@gmail.com

San Diego, 92103 Housing Statistics

When comparing the most recent 6 month period with the same period last year, the median $/Sqft of properties in the San Diego zip code of 92103, the median price $/Sqft increased from $426.15 to $428.59 which is a 0.5% increase and indicates a steady property values trend.  There are currently 7.4 months of housing inventory indicating a balanced supply and demand trend.  Over the past month, properties sold ofter a median marketing period of 28 days and an average marketing time of 59 days, indicating a marketing time trend of under 3 months.  According to Sandicor MLS, the number of sales has decreased 28% while the ratio of bank sales and short sales to total sales has increased 256%.

Statistics indicate historically high foreclosure activity which suggests that future declines from foreclosures and other distressed selling activity, such as short sales, are possible.  They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.  A continuing supply of potential foreclosures indicate that the risk of property value declines will continue into the near future.

Foreclosure / Short Sale Related Statistics:

Past 30 Days

* 25 Total Sales

* 24% of all sales were bank sales

* 16% of all sales were short sales

1 Year Ago

* 32 Total Sales

* 9% of all sales were bank sales

* 6% of all sales were short sales

Currently:

* 98 Bank owned homes

* 56 Properties in foreclosure

* 49 Properties with mortgages 60+ days late but not in foreclosure

* 20 Bank listings in MLS (active, in escrow, and awaiting bank approval)

* 80% of bank owned homes not actively listed in the MLS

* 20 Months of current and potential bank sale and short sale inventory for bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the local MLS.

Brian Ward
Real Estate Appraiser

brianwardappraisal@gmail.com