A Study of Recent South Lake Tahoe, CA Short Sales

February 17th, 2010 categories: For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, short sales, South Lake Tahoe Statistics, South Lake Tahoe, CA

South Lake Tahoe short sales

There may not be as big a difference as you might think!

We're starting a new 8-part series on South Lake Tahoe, CA short sales after this post, and we thought as reference it would be interesting to explore the numbers first.

(our new series on short sales starts tomorrow here)

In most of our prior reports on distressed properties, we have looked at them as a whole in comparison to sales of properties that are not distressed. In other words we have not taken a separate look at either bank owned sales or short sales for the purposes of comparing them to each other.

This then  is the first time we have looked at short sales specifically in comparison to both sales of homes that are not, and to bank owned sales. The results we found are surprising, and the bottom line is short sale values are not as low as one might think.

A Comparison of Short Sales v. Non Short Sales in the last 180 days:
Here's what we're looking at in summary: (see chart below)

  • The difference in the median sold price of a short sale is $10,500 lower than that of a sale of a non-distressed house (2.8%).
  • The difference in the average sold price of a short sale is $78,813 lower than that of a non-distressed house (16.5%)
  • The price reduction off original list price is $38,505 more than that off a non-distressed house (42.3%)
  • The short sales takes 83 more days to sell
  • The short sale is $38 lower in price per square foot.
  • The short sale is 28 square feet larger.
  • The shot sale is 3 years newer.

The summary above comes from the chart below:

A study of South Lake Tahoe, CA short sales in the last 180 days.

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This entry was posted on Wednesday, February 17th, 2010 at 4:35 pm and is filed under For Buyers, For Sellers, Foreclosures, Lake Tahoe Real Estate, short sales, South Lake Tahoe Statistics, South Lake Tahoe, CA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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