This week's stats in 92211

This week the median price in 92211 was $334,000. The inventory is up and Market Action is trending down recently. While days on the market appears trending lower, the overall conditions are weakening a bit.

In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general .

Local conditions are currently quite strongly in the Buyer's Market .

As an aside, a friend started the process of refinancing and their lender told them they were lucky because SCPD is in a stable market.

Sun City Stats for December

There are 187 active listings from $215,000 for a Villa to $1,025,000 for a Marseille on a double golf course lot.

There were 2 pending sales last month--one an Opal @ $249,000--1548 sq. ft. and $369,900 for a Cayman at 1632 sq. ft.

There were 9 closed escrows ( probably sold before the financial debacle) from $205,000 for a Hummel (not a short sale or an REO) 1128 sq. ft--sold ro $205,000 to $440,000 for an expanded Monaco-2323 sq. ft.

Interesting

President -elect Barack Obama recently named New York City housing commissioner Shaun Donovan to lead the U.S. Department of Housing and Urban Development. What you may not know is that Donovan once worked at Prudential . Before he joined New York's Housing Preservation and Development Department in 2004. Donovan was the managing director of Federal Housing Authority and affordable housing investments for Prudential Mortgage Capital Co.

Fed lowers rate

Fed has lowered rates lower than ever before and promises to do more to help the economy.

Did you know?

TV's , computers and other electronics account for 15% or $352,50 of an average household's annual energy bill? The energy consumed by idle devices --ones that are plugged in but are not being used--accounts for about $264. Best: Get a power strip so that multiple electronics can be plugged into one. strip that can be easily unplugged. Or, unplug each appliance each day when not being used-toasters, can openers, mobile chargers, etc.

The Bottom?

On Dec. 15, the Desert Sun said the economists thought we had hit bottom. What do you think?

Sun City Palm Desert Stats-November

There are 199 active listings presently on the market, from $229,000 for 1283 sq. ft to $1,025,000 for a Marseille on a double lot on the fairway.

From 11/01/08 to 11/30/08 there were 6 pending sales , from $229,000 for 1366 sq. ft, to $529,900 for a St. Tropez at 2588 sq. ft.

For the same period, there were 5 solds from $250,000 for 1548 sq. ft to $389,000 for a Montego with casita at 2034 sq. f. These were probably all put in escrow before the financial meldown on wall street.

If you look back at my blogs on stats for the previous months you can really tell the difference. However, the president of Real Data Strategies said Palm Desert has a "healthy" market so not as many foreclosures , therefore not as many sales. Palm Desert had 12% more sales this year than last and prices were down 16% over last year. Indio saw price declines of 45% from a year ago. Obviously more people had bad loans, in that area ,with all the new construction.