I hope the headline porn grabbed you! 😆 REO listings have increased lately around NSDCC, though they are still a small fraction of the overall marketplace (there have been 2,238 detached-home sales closed this year between Carlsbad and La Jolla). The short-sale...
After seeing Bernanke holding the smoking gun on Monday (where he said that he told banks to not disrupt the economy with their REOs), did you give up hope getting a deal on a distressed sale? If not, this might push you closer to believing. Here is the mix of NSDCC...
Remember this from September? The use of third parties to help Fannie Mae sell its REO properties is coming to an end. Fannie Mae notified remaining vendors that the government-sponsored enterprise will transition all REO sales work completely to Fannie Mae's in-house...
Why would people list their home as a short-sale? Because their lender is applying pressure to either make payments, short-sale, or be foreclosed. At least that is the old-fashioned way of banking. It's possible that, after months or years of delinquency, some might...
The counts of local bank-owned properties are not out in the open, and people are wondering - are there loads of REOs waiting to hit the market? Here are the SD County REOs from the tax rolls, compared to April 8, 2008: Lender 4/8/08 Today Deutsche 1,066 49 US Bank...
Wouldn't it make sense for banks to be unloading REOs when all we see are bidding wars everywhere? Initially we thought that the drop-off in foreclosures was because banks were pushing people to short sale instead. With this being the last year of debt-tax exemptions,...
With the tax exemption of debt-relief expiring at the end of the year, we keep thinking that there will be a surge of short-sale listings coming to market. Not only is there NOT a surge of short-sale listings, there's not a surge of ANY listings, relatively. Here are...
REO sales will peak when the banks decide to peak them. From HW: The sale of properties repossessed through foreclosure may not peak until 2013, keeping home prices from a meaningful recovery for some time, analysts estimated Monday. Nearly half of the more than...
From Sean at www.foreclosureradar.com: Five major lenders made announcements last week that they would be suspending certain foreclosure activities in various states. These lenders included Ally (GMAC), JPMorgan Chase, Bank of America, Litton and PNC. While this...
These days, every time you read the news you'll see another expert talking about the shadow inventory coming home to roost. Depending on the guesser, there will be somewhere between 3 million and 8 million homes that get foreclosed in America over the next 1-10...
