Monday Morning Numbers 8/16/10

Good morning! It's time once again to take the temperature of the Lompoc real estate market. If I can just get the market to hold this thermometer under its tongue for a few minutes...

Active Listings: 120

Contingent Listings: 38

Pending Listings: 45 (22.2% of the inventory)

New listings: 18

Months of inventory: 5.2
Click here for the updated price per square foot chart.

We had what might have been the highest activity week we've seen in our market all year. Lots and lots of "hotsheet" entries every day. Of the 18 new listings, 10 were distressed properties this week. Despite a lot of churn, the numbers don't look much different than they did last week. Inventory is still slowly edging up week by week, and sales activity is slower than it was in the first half of the year, but still pretty solid.

I've been remiss in mentioning it here, but we are having a Foreclosure Avoidance Seminar this week at our office. There are two sessions from which to choose - Wednesday at 7:00 PM or Saturday at 10:00 AM. We'll be giving an overview of the foreclosure process and some solutions to help prevent that sad fate, to include short sales. And we'll have Patrick Chandler from Bank of America Home Loans to talk about some of the loan modification and refinance options that might be available. If you know anybody who has been struggling with their mortgage payments - and I think almost all of us know somebody - please let them know about this event. If anybody has any questions about it, call me at 757-3762.