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55313 : Real Estate Advice

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Mon Jun 22, 2009
Elizabeth Fuller answered:
If we examine absorption rates - that is the number of homes currently on the market and the number of months it would take to "absorb" those, our metro area is running at about 10.5 months. The number of homes coming on the market each week affects that as does the fact that some homes get taking out of the pool if there is a sale "pending." Many of these are in that nebulous bank-owned, foreclosure and distressed pool. So called absorption is also affected by listings that run out without selling, others that are cancelled by sellers who decide to wait. A detail analysis of your area should be provided by your agent. He or she can properly assess a pattern over your specific neighborhood, compare like and unlike homes and see if a certain type of home sells sooner, etc. You sit down with your agent and set up the parameters of the analysis and see what you find. If you want more help, please contact me. No cost, no obligations, ... more
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