Focus on Mission Hills

This week, the wheel comes around to Mission Hills again. For a description of the area, go see my first post on it from last year.

We've had some very light activity up there in recent months. In fact, when I went to look for active listings up there in our MLS this morning, I found nothing. Not a single active listing. So I expanded the search to CCRMLS (you may recall from the 2009 3rd quarter update that I added that as a source for some stats). I usually don't look there for my neighborhood reports, because it usually isn't necessary, but when things are this thin, you look for data points everywhere you can. So now I can report that we have two active listings up there. One is a short sale, and the other is a traditional seller.

Boy, that was a long walk for two listings.

Since I've brought in CCRMLS for the active unite, I'll combine the rest of the numbers in for this report. We have 4 pending sales up there today, 2 short sales and 2 traditional sellers. And we've had two sales in the past three months, one REO and one short sale.

Where has all the activity gone? Part of the lack of activity is that it appears that distressed sales have been down in this area in recent months. That may be changing. I see 3 houses up there that have gone back to the bank but are not yet listed. Also, I can track 9 unresolved trustee sales and 3 default filings up there right now, so we may start to see a few more listings up here a little bit down the line. In any case, it appears that this area, like most of market, has been pretty stable for a while, with nicer homes selling at around the $200,000 level, and fixers going for 10-30% less depending on the condition.