Can anyone estimate based on last month figures what percentage of those that go pending actually go through? What's the failure rate basically?
Good New for Real Estate
- Thread starter BrittanyBryson
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where is this information hidden away? i.e., what homes/lots when contingent this week?
How'd you do that?
All you need is MLS access. The "sales type" is your friend.
Incidentally, I've never been busier...
Good news! Can you give us some details?
Great News Joe! We have been swamped with showings and glad to report lots of offers. Some are working some are not but the bottom line is activity! We both know activity breeds activity! I have had a few deals where the seller has told the buyer to take a hike! Have not had that happen in awhile.
I'm not a realtor so I don't have the access you guys have to the MLS. Do you know what the current inventory numbers are as expressed in "months of inventory"?
As a Realtor, one of our searches is called a "hotsheet". This will allow us to go back 7 days and the search can include all properties at once. If you want to go back more than 7 days then you have to seacrch each individual property category. It is a little time consuming but can be done, for a real Buyer (Ha).
However, if a home went pending 30 days ago and then sold 2 weeks later then it is going to show as a sold (status). So, our program that we use is a fluid program. It is very easy for a recent 7 days period but a little more difficult for more than that.
Maybe another Realtor can give me information that I am not aware of.
Single Family Homes
Area 15- South Walton West
399 active
28 sold since 01/01/09
Area 17- West 30A
291 active
22 sold since 01/01/09
Area 18- East 30A
632 active
30 sold since 01/01/09
Condos:
Area 15
972 active
38 sold since 01/01/09
Area 17
156 active
9 sold since 01/01/09
Area 18
368 active
13 sold since 01/01/09
Single Family Homes
Area 15- South Walton West
399 active
28 sold since 01/01/09
Area 17- West 30A
291 active
22 sold since 01/01/09
Area 18- East 30A
632 active
30 sold since 01/01/09
Condos:
Area 15
972 active
38 sold since 01/01/09
Area 17
156 active
9 sold since 01/01/09
Area 18
368 active
13 sold since 01/01/09
How accurate is this? (margin of error)
In the Single Family Cat. 14 to 20 months of total inventory is not bad considering much is priced high. If there is a pickup in May and June the numbers could become under 12 months of inventory real easily. I know that as inventory decreases the rate of absorption increases dramaticly.