Silicon Valley REO Jason C. Lee 408 998 1300 www.svreo.com Jason@svreo.com
Months Of Inventory Oct. 2007 45.0 40.0
39.2 38.4
35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0
25.4 25.0
23.0 20.2 19.7 19.0 11.7 11.5 7.2 7.0 6.8 5.6 5.0 4.6 4.3 3.6 3.3
1.5
Months Of Inventory October 2008 20.0 18.0 16.0
17.3 15.9 15.4
14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0
10.4 8.4 8.2 8.1 7.9 7.8 7.5 7.4 7.1 6.6 6.1 6.0 5.8 5.2 4.5 4.4 4.3
Months Of Inventory Oct. 2009 12.0 10.0 8.0 6.0
9.7 6.9 5.3 5.2 4.3
4.0 2.0 0.0
3.8 3.8
3.2 3.1 3.1 3.0 3.0 3.0 2.6 2.5 2.5 2.4 2.4 2.4
1.6
7000
Mar-98 Jun-98 Sep-98 Dec-98 Mar-99 Jun-99 Sep-99 Dec-99 Mar-00 Jun-00 Sep-00 Dec-00 Mar-01 Jun-01 Sep-01 Dec-01 Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09
Santa Clara County Mar. 1998 - Oct. 2009 Current Inventory
6000
5000
4000
3000
2000
1000
0
7000
Mar-98 Jun-98 Sep-98 Dec-98 Mar-99 Jun-99 Sep-99 Dec-99 Mar-00 Jun-00 Sep-00 Dec-00 Mar-01 Jun-01 Sep-01 Dec-01 Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09
Santa Clara County Mar. 1998 - Oct. 2009 Closed Sales Current Inventory
6000
5000
4000
3000
2000
1000
0
7000
Mar-98 Jun-98 Sep-98 Dec-98 Mar-99 Jun-99 Sep-99 Dec-99 Mar-00 Jun-00 Sep-00 Dec-00 Mar-01 Jun-01 Sep-01 Dec-01 Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09
Santa Clara County Mar. 1998 - Oct. 2009 Closed Sales Current Inventory Average Sales Price
4000
3000 1,050,000
6000 950,000
5000 850,000
750,000
650,000
2000 550,000
1000 450,000
0 350,000
Santa Clara County Jan. 7th, 2009 3500 3151 3000 2500 2000
1818
1500 1156 1000
760
797
858
847 489
500
201
0 Active Pending Sold last 60 Days Bank Owned
Active Pending Sold last 60 Days Short Sales
Active Pending Sold last 60 Days Regular
Santa Clara County November 16, 2009 3000 2622
2583 2500 2000
1739 1500
1270
1000 741 503
500
659
546
224 0 Active Pending Sold last 60 Days Bank Owned
Active Pending Sold last 60 Days Short Sales
Active Pending Sold last 60 Days Regular
Santa Clara County Jan. 7th, 2009 4000
3151
3000 2000
1818 1156
1000
760
858
797
489
201
847
0 Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned
Active Pending Sold last 60 Days
Short Sales
Regular
Santa Clara County November 16, 2009 3000 2500 2000 1500 1000 500 0
2622
2583
1739 1270 224
503
741
Active Pending Sold last 60 Days Bank Owned
659
546
Active Pending Sold last 60 Days Short Sales
Active Pending Sold last 60 Days Regular
4/19/2007 5/10/2007 5/31/2007 6/21/2007 7/12/2007 8/2/2007 8/23/2007 9/13/2007 10/4/2007 10/25/2007 11/15/2007 12/6/2007 12/27/2007 1/17/2008 2/7/2008 2/28/2008 3/20/2008 4/10/2008 5/1/2008 5/22/2008 6/12/2008 7/3/2008 7/24/2008 8/14/2008 9/4/2008 9/25/2008 10/16/2008 11/6/2008 11/27/2008 12/18/2008 1/8/2009 1/29/2009 2/19/2009 3/12/2009 4/2/2009 4/23/2009 5/14/2009 6/4/2009 6/25/2009 7/16/2009 8/6/2009 8/27/2009 9/17/2009 10/8/2009 10/29/2009
Santa Clara County Apr. 5, 2007 – Nov. 12, 2009
REO NOD
450
400
350
300
250
200
150
100
50
0
12-Nov-2009 Notices New of Trustee Default: Sales:
REOs
SOLD
173
158
69
23
Year to date:
11750
10156
2507
478
2008 YTD:
10518
6990
6415
265
This Week:
Mar-98 May-98 Jul-98 Sep-98 Nov-98 Jan-99 Mar-99 May-99 Jul-99 Sep-99 Nov-99 Jan-00 Mar-00 May-00 Jul-00 Sep-00 Nov-00 Jan-01 Mar-01 May-01 Jul-01 Sep-01 Nov-01 Jan-02 Mar-02 May-02 Jul-02 Sep-02 Nov-02 Jan-03 Mar-03 May-03 Jul-03 Sep-03 Nov-03 Jan-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Jan-05 Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07 Mar-07 May-07 Jul-07 Sep-07 Nov-07 Jan-08 Mar-08 May-08 Jul-08 Sep-08 Nov-08 Jan-09 Mar-09 May-09 Jul-09 Sep-09
Santa Clara County Mar. 1998 - Oct. 2009 30 Years Rate Average Sales Price
8.7 1,050,000
8.2 950,000
7.7 850,000
7.2 750,000
6.7 650,000
6.2
5.7 550,000
5.2 450,000
4.7 350,000
Santa Clara County Jan. 7th, 2009 4000
3151
3000 2000
1818 1156
1000
760
858
797
489
201
847
0 Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned
Active Pending Sold last 60 Days
Short Sales
Regular
Santa Clara County November 16, 2009 3000 2500 2000 1500 1000 500 0
2622
2583
1739 1270 224
503
741
Active Pending Sold last 60 Days Bank Owned
659
546
Active Pending Sold last 60 Days Short Sales
Active Pending Sold last 60 Days Regular
California Civil Code Sections 1695 The property is residential one-to-four units, and The owner currently resides in at least one of those units, and An NOD (Notice of Default) has been recorded against the property, and The buyer does not intend to live in the property (i.e., the buyer is an investor).
Short Sale Practice •Realtor Short Sale Vs. Investor Short Sale •HUD-1 Vs. Netsheet •Success Rate •What Short Sale Is and What It Is Not •At the lenders discretion •Not an entitlement •Short Sale Documents
Short Sale Practice •Short Sale Process •Common Short Sale Mistakes •Top 10 List •Listing agents and Negotiators •Home owners •Buyers and Investors •Changes in Short Sale Processing •Government Mandate •Lenders and their investors