The pie chart above illustrates data pulled for the Cities of Mandeville, LA 70448, 70471, as well Madisonville, LA 70447
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79 homes sold in Mandeville and Madisonville for the month of March 2012. WuHoo!! 79 is a significant increase, right at 33%, from the 53 homes sold the previous month of February, and is much closer to the positive numbers, (79 homes sold last December 2011), we had seen at the end of last year.
In the news recently has been the robo signing scandal and how the back log of foreclosures which was created by this scandal is now beginning to be processed. Therefore we are going to see an increase in the number of foreclosures soon and hence an increase in the number of REOs hitting the market (since the banks buy back many of their foreclosures, due, in my opinion, to the bailouts, the consumer and / or investor is not given much of an opportunity to purchase these distressed properties at the foreclosure sales.) However, unless you are looking at a short sale, or possibly a smaller bank who may need to liquidate a property for $.60 or $.70 on the dollar, there is not much which can be done on this front. If it were not for the bailouts we would, in my opinion, see many more homes sold at the Sheriff's auctions. However…
To piggy back with the robo signing scandal, and possibly bearing bad news; I will say, due to the, soon to be, increase of REOs on the market, there will be another decrease in the already hard hit home prices for the last quarters of 2012, and maybe into 2013 as well. However by then end of 2012, the USA will know who will be the president for the next 4 years, and confidence in a business friendly market may boost sales, however I cannot predict next week much less next year, so… Just make sure to vote.
The real estate market will absorb the influx regardless, and in doing so, it will probably have to drop a little in home values to absorb the extra bank owned properties. So home Seller's beware, this storm is not over yet. For home Buyer's their options will continue to increase and prices will continue to stay low. 2012 and 2013 should both be excellent years to buy a foreclosed home, and the market needs these homes scooped up as quickly as possible so, good Lord willing, every home owner may enjoy an appreciating real estate market.
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Download Homes Sold in Mandeville and Madisonville, LA; March, 2012
The attached Adobe PDF document contains:
•Property Address
•Age of Property
•Condition of Property
•Square Footage
•# of Beds
•# of Baths
•Original List Price
•Final Sold Price
•Final Sold Price per Square Foot
•# Days on Market
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Thank You
Marc Pellettiere
Wow, this is a pretty interesting pie chart you made here. It’s interesting to see just how much is open, and just how much had been sold. Thanks for sharing this.
The presidential election will hopefully boost the market. People are looking forward to it anxiously. Our country badly needs a push to get over the economic dull. I hope for a brighter future.