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Census Tract <br />State <br />FORECLOSE <br />VACANCY <br />MAX <br />6059089004 <br />CA <br />18 <br />12 <br />18 <br />6059074803 <br />CA <br />18 <br />11 <br />18 <br />6059074701 <br />CA <br />18 <br />a <br />18 <br />6059074802 <br />CA <br />19 <br />13 <br />19 <br />6059074805 <br />CA <br />18 <br />5 <br />18 <br />6059074801 <br />CA <br />18 <br />14 <br />18 <br />6059075202 <br />CA <br />17 <br />12 <br />17 <br />6059075100 <br />CA <br />17 <br />11 <br />17 <br />6059075003 <br />CA <br />18 <br />11 <br />18 <br />6059075002 <br />CA <br />20 <br />13 <br />20 <br />6059074602 <br />CA <br />19 <br />12 <br />19 <br />6059074200 <br />CA <br />19 <br />15 <br />19 <br />6059074103 <br />CA <br />16 <br />12 <br />16 <br />6059074102 <br />CA <br />19 <br />7 <br />19 <br />6059074702 <br />CA <br />18 <br />10 <br />18 <br />6059074601 <br />CA <br />18 <br />14 <br />18 <br />6059074901 <br />CA <br />18 <br />14 <br />18 <br />6059075004 <br />CA <br />16 <br />10 <br />16 <br />6059089105 <br />CA <br />17 <br />12 <br />17 <br />6059099202 <br />CA <br />18 <br />9 <br />18 <br />6059099248 <br />CA <br />19 <br />11 <br />19 <br />Average Max Score <br />18 <br />Qualified <br />(b) Market Conditions and Demand Factors <br />(1) Market Absorption <br />During the City's initial NSP 2 Application, these four census tracts had similar market conditions <br />and demand factors and the initial target geography area. At the time of application, the City <br />selected a random sample of abandoned and foreclosed homes that were on the market in its <br />target area as of October, 2008. Staff then reviewed data on these same homes as of June, 2009 <br />and determined that, on average, the real estate market in this area is capable of absorbing each <br />month approximately 10 percent of the existing inventory of abandoned and foreclosed homes. <br />An analysis of a random sample of homes sold during this period indicated that, on average <br />they were on the market for 135 days prior to being sold. The City obtained this foreclosure <br />data from First American Corel-ogic, Inc., a subsidiary of First American Company that specializes <br />in real estate data collection and analysis. <br />NSP 2 Substantial Amendment - City of Santa Ana Page 2 <br />29A -4 <br />