Do you think you have been keeping up with what’s been going on in real estate? How well do you know the Auburn area real estate market?
The statistics that I
used for the Auburn area real estate quiz are from November 2010 and November 2011.
Here goes! Test your knowledge:
1. There were fewer properties on the market in 2011 than in 2010.
True or False
2. There were more pending sales in 2010 than in 2011.
True or False
3. 67% of the pending sales in of 2011 were distressed properties.
True or False
4. There were the same number of sales in November of 2011 as of 2010.
True or False
5. The listing inventory in Placer County was down by 36% in 2011.
True or False
6. There were fewer sales in Placer County in 2011 compared to 2010.
True or False
7. Auburn Real Estate activity represents 10% of the entire Placer County real estate market.
True of False
8. The new anti-deficiency legislation protects individuals from a deficiency judgement after completion of an approved short sale. On July 15, 2011, the legislation was expanded to include junior real estate mortgage liens. The protection was also expanded to include owner occupied as well as investment properties and mortgage liens that have been refinanced.
True or False
9. The anti-deficiency legislation expires at the end of 2012.
True or False
10. Many well-known economists predict that the real estate market will begin to stabilize in 2012.
True or False
ANSWERS
1. True, the listing inventory is down by 25%! The Auburn area has gone from 168 listings in November 2010 to 126 listings in November 2011.
2. False, pending sales are up by 27%. It’s interesting to note that 32 of the 48 pending sales in November of 2011 were either short sales or reo’s.
3. True
4. True, for all intents and purposes the number of closed sales were the same. 2010 saw 32 closed sales compared to 30 closed sales in 2011.
5. True, there were 1683 listings in all of Placer County in 2010 compared to 1075 listings in 2011.
6. False, placer counties pending sales increased by 41%.
7. True
8. True
9. True, if one has been contemplating a short sale or foreclosure consult a real estate attorney. The protection may not be extended beyond 2012.
10. True, 2012 could be the beginning of a stabilized market.
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