There are two ways of explaining numbers: Telling. And Showing.
After a six-year run as “The Stat Pack” we have decided that since another real estate company in town won’t let go of the name, we had to change things up. So for this month at least, we’re running with “The Fine Print” as our monthly market report.
When you read The Fine Print (see… it’s working!) you’ll see a market in the midst of dramatic shift and change. Over 70% of all sales right now are less than $250,000, and under $250,000, the months of inventory has decreased to less than six months. I ran a search for a buyer tonight that wanted a 3 bedroom, 2 bath, 1 car garage single family home between Woodmen, Austin Bluffs and I-25. They needed it in 45 days so I eliminated short-sales. Number for-sale: 2. One was a B of A Submarine, the nickname we’ve given the “bring us an ugly bidding war” listing that usually is a Bank of America default that is put out at an unreasonably low number to solicit maximum interest, Pavlovian response, a dozen offers, and usually a final settlement price above what it realistically ought to fetch. In this case, the single MLS photo seems to only deepen the mystery.
I can tell you this all day long… or Bill McAfee can.