1st Quarter 2010 SOLD figures up a little over 2009 1st Quarter
Don’t pop the champagne corks just yet, but the numbers seem to be stabilizing.
Check the 1st quarter list of 2-4 unit sales on my website at:
http://keithabees.com/2010%20SmallIncomeProperty%20COMPS%201st%20QRT%202-4units.pdf
1st Quarter Summary
Sales were up 10% over 2009,
Volume was up 20%
Average price per sale was up 9.5%
$/SF is up $10
Days on Market went down to under a 100.
Bank owned sales were about the same but up to over 40% of all sales vs 33% for all of 2009.
The increases are good news but because 2009 numbers were so poor, we need to keep the enthusiasm in check for a while. Improvement in prices, volume and days on the market must be tempered by the rising bank owned sales.
Increasing bank owned sales do not expand the market for the current owner but do offer some good entry points for new investments. Bank owned properties tend to be priced more realistically than privately owned properties and lenders negotiate aggressively to get the properties off of their books.
The 1st quarter generally is the slowest quarter. We need to watch the 2nd quarter to see if the trends continue and the 3rd quarter to see if volume and sales will up enough to beat out 2009’s dismal numbers.
Stay Tuned!
Monday, April 19, 2010
Sunday, April 11, 2010
FRIENDS- THE END IS HERE / NEAR!
No, I haven't joined a cult!
I built my web site http://www.keithabees.com in 1997 on the MS FrontPage platform. FrontPage is no longer supported by Microsoft. With it its functionality dwindling, the time has come to retire the ole girl and the equally neglected www.keithabeeshomes companion site. One of the reasons to get this blog going was to help in the transition to a new website platform and a move to using more social media.
If you have any experience converting a FrontPage site, I would love to hear from you. My host has suggested I go with MS Expressions.
I hope to have a new and much more usable site up by June 2010. The intension is to continue with an independent site where I can still keep the Small Income Property Investor up to date with local sales, market trends and useful information. I will also have a companion site for single family homes to replace www.keithabeeshomes. If you have any ideas or thoughts on what to include on the new sites, I would greatly appreciate hearing from you.
As always, feel free to contact me directly.
1-800-573-0002 toll free / 303-202-2221direct / 303-808-8202 cell or text / invest@keithabees.com
I built my web site http://www.keithabees.com in 1997 on the MS FrontPage platform. FrontPage is no longer supported by Microsoft. With it its functionality dwindling, the time has come to retire the ole girl and the equally neglected www.keithabeeshomes companion site. One of the reasons to get this blog going was to help in the transition to a new website platform and a move to using more social media.
If you have any experience converting a FrontPage site, I would love to hear from you. My host has suggested I go with MS Expressions.
I hope to have a new and much more usable site up by June 2010. The intension is to continue with an independent site where I can still keep the Small Income Property Investor up to date with local sales, market trends and useful information. I will also have a companion site for single family homes to replace www.keithabeeshomes. If you have any ideas or thoughts on what to include on the new sites, I would greatly appreciate hearing from you.
As always, feel free to contact me directly.
1-800-573-0002 toll free / 303-202-2221direct / 303-808-8202 cell or text / invest@keithabees.com
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