Influence on of REO sales on MCM

We recently did our Business Plan to Sell a 3 bedroom Mid-Century Modern for a client in Rancho Mirage. Naturally, part of that is to look at recent sales activity. Here’s what we found;


Each bar shows how many homes were sold in that month. This supports our conclusion that sales are increasing, even if prices aren’t . So we looked at the next layer of the onion, and found things aren’t quite so good. 12 of the 17 sales this year in this group were distressed sales (bank-owned or REO, and short sales).


Still, non-REO sales are increasing. Furthermore, there is only 1 Active short-sale property in this group on the market, as of the date of this writing, so regular sales have less competition at the moment. Not shown here is a detectable trend that distressed sale prices are slightly increasing.

We might conclude that REO sales have drawn Buyers back in to the market, and this is good for all homeowners. Things are still tough though and you will need good marketing to sell your home.

Leave a Reply

Your email address will not be published. Required fields are marked *