Monday, December 10, 2007

Santa Barbara South County Sales For November

I went back and looked at what CORT numbers I could find. The numbers I found went back to 1997. We almost did it, we almost hit double digits in the number of sales in the South County of Santa Barbara in November. I couldn't believe that the number we hit in October was ever going to be beaten, but it was and it didn't take long. Maybe December or January will be the winner and the number of sales will fall in to the double digits. I just can't seem to get a grip on what the bottom is going to be when it comes to the number of sales. We are certainly in our seasonal downturn and when you add the uncertainty the credit issues have thrown at every one's mental state of mind it goes to figure we are seeing historic lows in terms of the number of transactions. Lawyers Title had the pleasure of opening escrows today on 9 properties that were auctioned off by a builder over the weekend. If you ask me the buyers made good deals. The properties are brand new and have some very nice features and amenities. I think sellers are doing what it takes to draw buyers in to their properties. The number one thing is being realistic on a listing price. Now back to the CORT numbers, I couldn't find any months where there had been less than a 100 sales close. I looked all the way back to Jan of 1997. There were a handful of months below the 150 number, but there were many more months where there were over 300 closings. We are living in historic times. The next few months could be record breakers, but after that I think we are going to see things start picking up. See You In Escrow!

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