Today was our monthly sales breakfast meeting, where all 300 of the RE/MAX Properties agents gather to hear company statistics, get training, hear about new marketing programs, etc. One of the things I really like about RE/MAX, and especially our company, RE/MAX Properties, is that we aren't dragged into never ending meetings. It is very comforting to know our time is valued by the brokerage, and today was no exception. I won't go into a meeting summary, but one of the things that came out was our own companies efforts to help sell off some of the bank owned inventory we have, which is a very hot topic.
Just to dispel any misconceptions, the whole "distressed" property inventory (categorized as bank owned, foreclosure, corporate owned, short sale, pre-foreclosure, etc) in our MLS is only 11.6% of the listing inventory, so it is not as if a huge percentage of the homes for sale are really in this category. It was interesting to see however, that in October, this segment made up 18.8% of the sales. Even more interesting to me was that these homes sold on average 96.1% of the asking price, and the average time on market was only 67 days. The reason? They are usually priced to move right from the get go, so they don't sit long, and many buyers are interested in these, so they don't sell for so much less than asking price as you would think.

Todays Pikes Peak photo was taken at Memorial Park back in September.