After a few months of minimal activity on the Corridor, it has taken a 180 deg turn. In March thru May, three, two and four units were put into escrow. But all of a sudden, in June eleven units went into escrow. What makes the data even more interesting are the Days on Market (DOM). While they remained in the m90+ range for Backup status, they moved to 155 in June. That indicates to me that a lot of these properties have spent their course and owners can no longer hang onto the units, so prices are lowered sufficiently for Buyers to pull the trigger. It’s a long way off from the rate at the height of the market, but an indication of where we are going in 2011.
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About Lynn and Mark Rogo
Respected throughout the brokerage community for their honesty, integrity & strong work ethic, Mark & Lynn Mirisch Rogo are proud to offer the highest caliber of personal service that delivers results. Mark brings to his career extensive knowledge & experience in finance, business management & real estate investments that give him a definite edge in today’s competitive marketplace. As a lifelong resident of Beverly Hills & Westwood, Lynn has widespread knowledge of the marketplace, giving her a definite edge in helping buyers & sellers achieve their goals.
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