RMLS™ subscriber and appraiser Ralph Olsen has co-authored a paper with Dr. Scott Wallace of Washington State University in Vancouver. Hidden Dangers in Sale Price Per Square Foot Analysis discusses the dangers of using price per square foot as the sole means for valuing a particular property. REALTORS® should gain insight to appraisers’ methodology and why this common practice can provide misleading results!

Read Hidden Dangers in Sale Price Per Square Foot Analysis by Ralph Olsen and Dr. Scott Wallace.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the fourth quarter of 2016.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (4th Quarter 2016)
• Clark County, WA Distressed Properties (4th Quarter 2016)
• Lane County, OR Distressed Properties (4th Quarter 2016)
• Douglas County, OR Distressed Properties (4th Quarter 2016)
• Coos County, OR Distressed Properties (4th Quarter 2016)

Here are some additional facts about distressed residential properties in the fourth quarter of 2016:

All areas when comparing percentage share of the market, fourth quarter to third quarter 2016:
• When comparing fourth quarter to third quarter 2016, distressed sales as a percentage of new listings increased by 2.0% (5.9 v. 3.9%).
• In a comparison of fourth quarter to third quarter 2016, distressed sales as a percentage of closed sales decreased by 0.4% (4.7 v. 5.1%).
• Short sales comprised 1.0% of new listings and 0.8% of sales in the fourth quarter, up 0.3% and down 0.2% from the third quarter of 2016, respectively.
• Bank owned/REO properties comprised 4.9% of new listings and 3.9% of sales in the fourth quarter, up 1.7% and down 0.2% from the third quarter of 2016, respectively.

Portland metro when comparing percentage share of the market, fourth quarter to third quarter 2016:
• When comparing fourth quarter to third quarter 2016, distressed sales as a percentage of new listings increased by 1.3% (4.2 v. 2.9%).
• In a comparison of fourth quarter to third quarter 2016, distressed sales as a percentage of closed sales decreased by 2.6% (3.8 v. 6.4%).
• Short sales comprised 1.0% of new listings and 0.9% of sales in the fourth quarter, up 0.4% and down 0.8% from the third quarter of 2016, respectively.
• Bank owned/REO properties comprised 3.2% of new listings and 2.9% of sales in the fourth quarter, up 0.9% and down 1.8% from the third quarter of 2016, respectively.

Clark County when comparing percentage share of the market, fourth quarter to third quarter 2016:
• When comparing fourth quarter to third quarter 2016, distressed sales as a percentage of new listings increased by 0.8% (3.6 v. 2.8%).
• In a comparison of fourth quarter to third quarter 2016, distressed sales as a percentage of closed sales decreased by 0.8% (2.7 v. 3.5%).
• Short sales comprised 0.9% of new listings and 1.0% of sales in the fourth quarter, down 0.4% and unchanged for sales when compared to the third quarter of 2016.
• Bank owned/REO properties comprised 2.7% of new listings and 1.7% of sales in the fourth quarter, up 1.2% and down 0.8% from the third quarter of 2016, respectively.

RMLS™ is pausing its quarterly publication of distressed properties information with the closing of 2016. If distressed properties become a larger portion of residential home sales in the future, distribution of this data may begin again.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the third quarter of 2016.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (3rd Quarter 2016)
• Clark County, WA Distressed Properties (3rd Quarter 2016)
• Lane County, OR Distressed Properties (3rd Quarter 2016)
• Douglas County, OR Distressed Properties (3rd Quarter 2016)
• Coos County, OR Distressed Properties (3rd Quarter 2016)

Here are some additional facts about distressed residential properties in the third quarter of 2016:

All areas when comparing percentage share of the market, third quarter to second quarter 2016:
• When comparing third quarter to second quarter 2016, distressed sales as a percentage of new listings decreased by 0.2% (3.9 v. 4.1%).
• In a comparison of third quarter to second quarter 2016, distressed sales as a percentage of closed sales decreased by 1.7% (5.1 v. 6.8%).
• Short sales comprised 0.7% of new listings and 1.0% of sales in the third quarter, down 0.1% and 0.3% from the second quarter of 2016, respectively.
• Bank owned/REO properties comprised 3.2% of new listings and 4.1% of sales in the third quarter, down 0.1% and 1.4% from the second quarter of 2016, respectively.

Portland metro when comparing percentage share of the market, third quarter to second quarter 2016:
• When comparing third quarter to second quarter 2016, distressed sales as a percentage of new listings decreased by 0.4% (2.9 v. 3.3%).
• In a comparison of third quarter to second quarter 2016, distressed sales as a percentage of closed sales increased by 0.9% (6.4 v. 5.5%).
• Short sales comprised 0.6% of new listings and 1.7% of sales in the third quarter, down 0.1% and up 0.5% from the second quarter of 2016, respectively.
• Bank owned/REO properties comprised 2.3% of new listings and 4.7% of sales in the third quarter, down 0.3% and up 0.4% from the second quarter of 2016, respectively.

Clark County when comparing percentage share of the market, third quarter to second quarter 2016:
• When comparing third quarter to second quarter 2016, distressed sales as a percentage of new listings decreased by 0.4% (2.8 v. 3.2%).
• In a comparison of third quarter to second quarter 2016, distressed sales as a percentage of closed sales decreased by 1.7% (3.5 v. 5.2%).
• Short sales comprised 1.3% of new listings and 1.0% of sales in the third quarter, unchanged for new listings and down 1.5% when compared to the second quarter of 2016, respectively.
• Bank owned/REO properties comprised 1.5% of new listings and 2.5% of sales in the third quarter, down 0.4% and 0.2% from the second quarter of 2016, respectively.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the second quarter of 2016.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (2nd Quarter 2016)
• Clark County, WA Distressed Properties (2nd Quarter 2016)
• Lane County, OR Distressed Properties (2nd Quarter 2016)
• Douglas County, OR Distressed Properties (2nd Quarter 2016)
• Coos County, OR Distressed Properties (2nd Quarter 2016)

Here are some additional facts about distressed residential properties in the second quarter of 2016:

All areas when comparing percentage share of the market, second quarter to first quarter 2016:
• When comparing second quarter to first quarter 2016, distressed sales as a percentage of new listings decreased by 3.0% (4.1 v. 7.1%).
• In a comparison of second quarter to first quarter 2016, distressed sales as a percentage of closed sales decreased by 3.8% (6.8 v. 10.6%).
• Short sales comprised 0.8% of new listings and 1.3% of sales in the second quarter, down 0.7% and 0.6% from the first quarter of 2016, respectively.
• Bank owned/REO properties comprised 3.3% of new listings and 5.5% of sales in the second quarter, down 2.3% and 3.2% from the first quarter of 2016, respectively.

Portland metro when comparing percentage share of the market, second quarter to first quarter 2016:
• When comparing second quarter to first quarter 2016, distressed sales as a percentage of new listings decreased by 2.7% (3.3 v. 6.0%).
• In a comparison of second quarter to first quarter 2016, distressed sales as a percentage of closed sales decreased by 4.1% (5.5 v. 9.6%).
• Short sales comprised 0.7% of new listings and 1.2% of sales in the second quarter, down 0.7% and 1.0% from the first quarter of 2016, respectively.
• Bank owned/REO properties comprised 2.6% of new listings and 4.3% of sales in the second quarter, down 2.0% and 3.1% from the first quarter of 2016, respectively.

Clark County when comparing percentage share of the market, second quarter to first quarter 2016:
• When comparing second quarter to first quarter 2016, distressed sales as a percentage of new listings decreased by 2.6% (3.2 v. 5.8%).
• In a comparison of second quarter to first quarter 2016, distressed sales as a percentage of closed sales decreased by 0.8% (5.2 v. 6.0%).
• Short sales comprised 1.3% of new listings and 2.5% of sales in the second quarter, down 1.2% for new listings and up 0.6% when compared to the first quarter of 2016, respectively.
• Bank owned/REO properties comprised 1.9% of new listings and 2.7% of sales in the second quarter, down 1.4% and 1.4% from the first quarter of 2016, respectively.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the first quarter of 2016.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (1st Quarter 2016)
• Clark County, WA Distressed Properties (1st Quarter 2016)
• Lane County, OR Distressed Properties (1st Quarter 2016)
• Douglas County, OR Distressed Properties (1st Quarter 2016)
• Coos County, OR Distressed Properties (1st Quarter 2016)

Here are some additional facts about distressed residential properties in the first quarter of 2016:

All areas when comparing percentage share of the market, first quarter 2016 to fourth quarter 2015:
• When comparing first quarter 2016 to fourth quarter 2015, distressed sales as a percentage of new listings decreased by 3.0% (7.1 v. 10.1%).
• In a comparison of first quarter 2016 to fourth quarter 2015, distressed sales as a percentage of closed sales decreased by 2.1% (10.6 v. 8.5%).
• Short sales comprised 1.5% of new listings and 1.9% of sales in the first quarter of 2016, down 0.7% and up 0.2% from the fourth quarter of 2015, respectively.
• Bank owned/REO properties comprised 5.6% of new listings and 8.7% of sales in the first quarter of 2016, down 2.3% and up 1.9% from the fourth quarter of 2015, respectively.

Portland metro when comparing percentage share of the market, first quarter 2016 to fourth quarter 2015:
• When comparing first quarter 2016 to fourth quarter 2015, distressed sales as a percentage of new listings decreased by 3.2% (6.0 v. 9.2%).
• In a comparison of first quarter 2016 to fourth quarter 2015, distressed sales as a percentage of closed sales increased by 1.9% (9.6 v. 7.7%).
• Short sales comprised 1.4% of new listings and 2.2% of sales in the first quarter of 2016, down 0.7% and up 0.4% from the fourth quarter of 2015, respectively.
• Bank owned/REO properties comprised 4.6% of new listings and 7.4% of sales in the first quarter of 2016, down 2.5% and up 1.5% from the fourth quarter of 2015, respectively.

Clark County when comparing percentage share of the market, first quarter 2016 to fourth quarter 2015:
• When comparing first quarter 2016 to fourth quarter 2015, distressed sales as a percentage of new listings decreased by 1.2% (5.8 v. 7.0%).
• In a comparison of first quarter 2016 to fourth quarter 2015, distressed sales as a percentage of closed sales remained unchanged (6.0 v. 6.0%).
• Short sales comprised 2.5% of new listings and 1.9% of sales in the first quarter of 2016, down 0.9% for new listings and exactly matching sales when compared to the fourth quarter of 2015, respectively.
• Bank owned/REO properties comprised 3.3% of new listings and 4.1% of sales in the first quarter of 2016, down 0.3% and exactly matching the fourth quarter of 2015, respectively.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the fourth quarter of 2015.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (4th Quarter 2015)
• Clark County, WA Distressed Properties (4th Quarter 2015)
• Lane County, OR Distressed Properties (4th Quarter 2015)
• Douglas County, OR Distressed Properties (4th Quarter 2015)
• Coos County, OR Distressed Properties (4th Quarter 2015)

Here are some additional facts about distressed residential properties in the fourth quarter of 2015:

All areas when comparing percentage share of the market, fourth quarter to third quarter 2015:
• When comparing fourth quarter to third quarter 2015, distressed sales as a percentage of new listings increased by 3.7% (10.1 v. 6.4%).
• In a comparison of fourth quarter to third quarter 2015, distressed sales as a percentage of closed sales increased by 0.9% (8.5 v. 7.6%).
• Short sales comprised 2.2% of new listings and 1.7% of sales in the fourth quarter, up 0.7% and down 0.2% from the third quarter of 2015, respectively.
• Bank owned/REO properties comprised 7.9% of new listings and 6.8% of sales in the fourth quarter, up 3.0% and 1.1% from the third quarter of 2015, respectively.

Portland metro when comparing percentage share of the market, fourth quarter to third quarter 2015:
• When comparing fourth quarter to third quarter 2015, distressed sales as a percentage of new listings increased by 3.8% (9.2 v. 5.4%).
• In a comparison of fourth quarter to third quarter 2015, distressed sales as a percentage of closed sales increased by 1.3% (7.7 v. 6.4%).
• Short sales comprised 2.1% of new listings and 1.8% of sales in the fourth quarter, up 0.7% and 0.1% from the third quarter of 2015, respectively.
• Bank owned/REO properties comprised 7.1% of new listings and 5.9% of sales in the fourth quarter, up 3.1% and 1.2% from the third quarter of 2015, respectively.

Clark County when comparing percentage share of the market, fourth quarter 2015 to third quarter 2015:
• When comparing fourth quarter to third quarter 2015, distressed sales as a percentage of new listings increased by 2.0% (7.0 v. 5.0%).
• In a comparison of fourth quarter to third quarter 2015, distressed sales as a percentage of closed sales decreased by 0.3% (6.0 v. 6.3%).
• Short sales comprised 3.4% of new listings and 1.9% of sales in the fourth quarter, up 1.5% for new listings and down 0.7% for sales when compared to the third quarter of 2015, respectively.
• Bank owned/REO properties comprised 3.6% of new listings and 4.1% of sales in the fourth quarter, up 0.5% and 0.4% from the third quarter of 2015, respectively.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the third quarter of 2015.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (3rd Quarter 2015)
• Clark County, WA Distressed Properties (3rd Quarter 2015)
• Lane County, OR Distressed Properties (3rd Quarter 2015)
• Douglas County, OR Distressed Properties (3rd Quarter 2015)
• Coos County, OR Distressed Properties (3rd Quarter 2015)

Here are some additional facts about distressed residential properties in the third quarter of 2015:

All areas when comparing percentage share of the market, third quarter to second quarter 2015:
• When comparing third quarter to second quarter 2015, distressed sales as a percentage of new listings increased by 0.1% (6.4 v. 6.3%).
• In a comparison of third quarter to second quarter 2015, distressed sales as a percentage of closed sales decreased by 0.7% (7.6 v. 8.3%).
• Short sales comprised 1.5% of new listings and 1.9% of sales in the third quarter, down 0.1% and 0.4% from the second quarter of 2015, respectively.
• Bank owned/REO properties comprised 4.9% of new listings and 5.7% of sales in the third quarter, up 0.2% and down 0.3% from the second quarter of 2015, respectively.

Portland metro when comparing percentage share of the market, third quarter to second quarter 2015:
• When comparing third quarter to second quarter 2015, distressed sales as a percentage of new listings decreased by 0.3% (5.4 v. 5.7%).
• In a comparison of third quarter to second quarter 2015, distressed sales as a percentage of closed sales decreased by 0.3% (6.4 v. 6.7%).
• Short sales comprised 1.4% of new listings and 1.7% of sales in the third quarter, down 0.2% and 0.5% from the second quarter of 2015, respectively.
• Bank owned/REO properties comprised 4.0% of new listings and 4.7% of sales in the third quarter, down 0.1% and up 0.2% from the second quarter of 2015, respectively.

Clark County when comparing percentage share of the market, third quarter 2015 to second quarter 2015:
• When comparing third quarter to second quarter 2015, distressed sales as a percentage of new listings decreased by 0.2% (5.0 v. 5.2%).
• In a comparison of third quarter to second quarter 2015, distressed sales as a percentage of closed sales decreased by 2.6% (6.3 v. 8.9%).
• Short sales comprised 1.9% of new listings and 2.6% of sales in the third quarter, down 0.5% for new listings and 0.7% for sales when compared to the second quarter of 2015, respectively.
• Bank owned/REO properties comprised 3.1% of new listings and 3.7% of sales in the third quarter, up 0.3% and down 1.9% from the second quarter of 2015, respectively.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

MLS Insight is a series about how things work at RMLS™.

RMLS™ is now the fifth MLS in the nation to be certified on the RESO Data Dictionary.

Yes, I’m yelling—because this is a major accomplishment, and it’s very hard to convey how much of an achievement it is because so many of the terms have to be defined. It’s not like saying we won the World Series or the Preakness or sold the most real estate, which most people would immediately understand and relate to.

• RESO is the data standards organization for real estate, whose mission is the standardization of both the process and real estate data that is shared throughout the industry.
• The Data Dictionary provides a common standard that defines real estate data in consistent terms and data structures across hundreds of MLSs, so that data can be more readily shared and understood.
• NAR requires that all affiliated MLSs adopt the RESO Data Dictionary January 1, 2016.

Kim Hutchinson, RMLS™ Data Quality Technician, worked for many hours to analyze and map RMLS™ data to the RESO Data Dictionary 1.3, making sure that there was congruence without compromising the accepted meaning of the data collected and to make changes under the hood to conform with data length and type requirements.

Our Distribution Services staff has begun the process of reaching out to providers of services and products to our real estate community to let them know that the Data Dictionary filters are available for RETS feeds. We expect this will expand the availability of cost-competitive products useful to our subscribers in the future. The idea is that using a common standard will foster innovation and help to create more of a “plug-and-play” environment, where REALTORS® will be able to purchase software and use it with data from any MLS operating on the RESO standards.

I deferred my planned post focusing on our Training Department to share this news. If you have questions on any RMLS™-related topic that you would like to have answered, I encourage you to post a comment.

This chart shows the number of bank owned/REO properties and short sales in all areas of the RMLS™ system during the second quarter of 2015.

Below are links to additional charts for some of our larger areas.
• Portland Metro Area Distressed Properties (2nd Quarter 2015)
• Clark County, WA Distressed Properties (2nd Quarter 2015)
• Lane County, OR Distressed Properties (2nd Quarter 2015)
• Douglas County, OR Distressed Properties (2nd Quarter 2015)
• Coos County, OR Distressed Properties (2nd Quarter 2015)

Here are some additional facts about distressed residential properties in the second quarter of 2015:

All areas when comparing percentage share of the market, second quarter to first quarter 2015:
• When comparing second quarter to first quarter 2015, distressed sales as a percentage of new listings decreased by 2.6% (6.3 v. 8.9%).
• In a comparison of second quarter to first quarter 2015, distressed sales as a percentage of closed sales decreased by 4.0% (8.3 v. 12.3%).
• Short sales comprised 1.6% of new listings and 2.3% of sales in the second quarter, down 1.3% and 1.1% from the first quarter of 2015, respectively.
• Bank owned/REO properties comprised 4.7% of new listings and 6.0% of sales in the second quarter, down 1.4% and 2.9% from the first quarter of 2015, respectively.

Portland metro when comparing percentage share of the market, second quarter to first quarter 2015:
• When comparing second quarter to first quarter 2015, distressed sales as a percentage of new listings decreased by 2.0% (5.7 v. 7.7%).
• In a comparison of second quarter to first quarter 2015, distressed sales as a percentage of closed sales decreased by 3.4% (6.7 v. 10.1%).
• Short sales comprised 1.6% of new listings and 2.2% of sales in the second quarter, down 1.2% and 0.8% from the first quarter of 2015, respectively.
• Bank owned/REO properties comprised 4.1% of new listings and 4.5% of sales in the second quarter, down 0.8% and 2.6% from the first quarter of 2015, respectively.

Clark County when comparing percentage share of the market, second quarter 2015 to first quarter 2015:
• When comparing second quarter to first quarter 2015, distressed sales as a percentage of new listings decreased by 4.1% (5.2 v. 9.3%).
• In a comparison of second quarter to first quarter 2015, distressed sales as a percentage of closed sales decreased by 5.1% (8.9 v. 14.0%).
• Short sales comprised 2.4% of new listings and 3.3% of sales in the second quarter, down 2.0% for new listings and 1.7% for sales when compared to the first quarter of 2015, respectively.
• Bank owned/REO properties comprised 2.8% of new listings and 5.6% of sales in the second quarter, down 2.1% and 3.4% from the first quarter of 2015, respectively.

If you’d like more information or percentages of distressed residential sales in other areas not represented by our charts, please contact us at communications@rmls.com.

The National Association of REALTORS® (NAR) recently released a new tool to manage what potential clients learn about you on Realtor.com and major social media sites.

Have you claimed your free Realtor.com profile page yet?

The Realtor.com profile page is a one-stop portal that allows NAR members to connect with clients looking for a REALTOR® while searching for homes on Realtor.com.

The profile allows each REALTOR® to manage the display of information and client recommendations from a variety of social sites, including Facebook, Twitter, and LinkedIn. This means clients can easily find an experienced REALTOR® with a particular specialization or language, or discover a REALTOR® who has served someone they know. One-stop shopping for clients, and easy lead generation for brokers!

What do you need to start? A NRDS number and your browser. Claim your profile today on Realtor.com, then peruse the quick start guide to make the most of your new profile.