I’m heading to an appraisal inspection shortly in Roseville and I wanted to share some preliminary research. I find it interesting to take a panoramic glimpse of citywide data like this. What do you see in these trend graphs below? What stands out to you? The graphs are based on all single family residential sales and listings in Roseville from Sacramento Metrolist. I’d love to hear your comments below.
While on the subject of Roseville, I wanted to mention that one of my Twitter friends, Realtor Steve Ostrom of Coldwell Banker, posted an interesting video a couple of weeks ago about shadow inventory in Roseville and Rocklin. It’s interesting to look at what the numbers are saying. How many houses are in the process of foreclosure? How many loans have defaulted but not listed on the market yet? Statistics like this are very important to watch and they can be indicators of what is to come too. If you can’t see the video below, then click HERE.
Ryan,
I think all the statistical analysis being done today is really helping us see the whole picture compared to years ago. I know it helps me understand the market better. The news said the next wave of foreclosures would hit the market soon, I guess this is it. Thanks for the informational posts.
I agree with you, Tom, about statistical analysis.
Our area has been interesting to say the least. The big news last year was that REO inventory was going to flood the market, but it never did. We’ll see if we see something more happen this year. I know I’ve been getting more work lately from certain asset managers (still nothing like they were giving me in 2008, but still an increase over three to six months ago).
Has your market been bombarded with foreclosures?
Wow, thanks Ryan for the share! Steve will be honored to be a part of your post. I am going to share your post as well. Cheers to future business and catch you on Twitter.
When you make a good video, it should be shared, right? 🙂 Thanks for in turn sharing the post. That’s very cool of you. By the way, everyone, make sure to follow Heather on Twitter at http://www.twitter.com/RosevilleRockLn.
Ryan,
Great post! I especially like the chart format you use for the past sales in Roseville. We have found that the market under $350,000 is really moving, but over $500,000 is much slower. Your charts completely back that up. Keep up the good work!
Thanks Steve. I appreciate the encouragement. It’s amazing to see the decline of the upper end of the market.
I’ll look forward to future Ostrom videos. Hopefully more will come soon….