Weekly Scorecard 10-4-10

By George Thurtle

Still trying to get caught up. This one is one week behind but does give an idea of the continuing trends. The closed sales are still high compared to the pending sales but the pending sales seem to be picking up. Probably in a couple of months these numbers will be coming closer together. This is a reversal of the past where the pending sales were almost twice the closed sales but the pending numbers were very unreliable given that a number of them were short sales and eventually fails to close. The most impoartant fact of these numbers is that the pending sales seem much more reliable. Also as noted in the foreclsure report it appears that many more short sales are closing successfully as indicated by the overall falling amount of distressed inventory and the rapidly declining notice of trustee sales.

My antidotal experience I am seeing presently is that some short sales are being processed in less than 60 days. Even those with second mortgages in place.  

The spreadsheet is here: Weekly scorecard 10-4-10

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