Are you wondering how this strategy of banks-not-foreclosing is working?
Here are the counts of active listings of detached homes around NSDCC:
| Town | REO | SS | Non REO/SS |
| Carlsbad | |||
| Carmel Valley | |||
| Encinitas | |||
| DM/SB/RSF | |||
| La Jolla | |||
| Totals |
The supply of distressed homes-for-sale is 4% of the total active listings, and once you subtract Carlsbad, distressed listings make up 2% of the total supply in the other areas.
It would be a great time for banks to unload!
Why would banks want to unload at these rates?
who is eating all the carrying costs for fannie and freddie to sit on all this inventory?
@avgjoe,
That ones easy, you and all the other American taxpayers!
Q: Why would banks want to unload at these rates?
A: Low interest rates = higher sales prices for home
A: High interest rates = Lower sales prices for homes
andrewa:
correction: “you and all the other FUTURE American taxpayers”.