As you see in the charts below the average sales price in Marvelous Marin County is about where it was in 2004 – 2005.
While the volume of homes selling has been mostly pathetic this year, we have seen a slight uptick in the past month. Encouraging, but we’re not out of the woods yet.
I think this will continue through next year, with more distres sales coming on the market. What is fueling the slight uptick in volume is realistic sellers who have learned that REOs are the competition and they must price accordingly.
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These statistics once again confirm that even in the conditions of financial crisis on the real estate market, the laws of competition were not repealed by anybody. On the contrary, only those will benefit who will be able to offer the optimum balance between price and quality.
I am looking at alternative new investment opportunities and I have found a new resource for Distressed Debt Investing through buying pre-foreclosure notes through auction. Has anyone been engaged in this activity. One sight that I have found offers auctions on these properties, and I would like to know if anyone has used them or knows of similar websites out there targeting Distressed Debt Investing… Check out http://www.RealtyNoteBid.com and let me know your thoughts…have you used them? Do you know anyone who has? Any feedback? Do you have any other resources / info that might help in my understanding this investment channel.