The number of properties making it to the court house steps is on the rise - there has been a 50% increase roughly in SD County trustee-sales since the end of June (from 200 to 300). It's still a pittance, however, compared to the 14,493 properties in default in San...
From HW: Notice of default filings in California rose for the fourth-straight month in August climbing another 16.6%, according to ForeclosureRadar, which also began issuing data on foreclosure rates in four more states and unveiled new search functions on its web...
From NMN: Fannie Mae wants out of its defaulted residential mortgage holdings as quickly as possible and is warning loan servicers not to stand in its way. The government-sponsored enterprise notified servicers Tuesday that it will begin monitoring them to determine...
The amount of properties being foreclosed is still lower than the last two summers: Jun-Aug Back-to-Bene 3rd-Party Buys Total # of SD properties foreclosed 2008 5,685 186 5,871 2009 3,284 916 4,200 2010 2,211 901 3,112 But at least the recent trend is heading in the...
From the latimes.com - an excerpt: Competition at the auctions is brutal, said Bruce Norris of Norris Group, a real estate investment firm in Riverside. Norris unwittingly bought a house that was the site of a gruesome double murder. No one else bid -- a rare...
We're still using Derby Hill as a marker for pricing in Carmel Valley, and none have closed over $1.5 million this year (though one is pending, listed at $1.529 that sold in five days). Will this one sell? Would it dent the buyer enthusiasm? It's not a great...
Here's a video of a trustee sale on the court house steps in downtown San Diego (by Richard). Two comments: 1. There are still plenty of bidders showing up at the steps, but how many are buying? There were 474 trustee sales scheduled today in San Diego County of all...
This sounded like a big move: Eric Friedman is leaving his post as senior vice president of default servicing for OneWest Bank, formerly IndyMac, and will become president of PREO, an online marketplace for REO and short sales. Friedman, who held leadership roles...
The foreclosure tours are winding down - I'm glad I didn't get a bus!
Short sales have to be the best device for those determined to kick the can down the road - the processing delays are already legendary, and many end up in the black hole of goo. IF the servicer gets pressured about making a decision, they can resort to 'the big...
