I checked the tax rolls by owner name to find the detached properties currently owned by lenders - there were only 1,991 of them, which is about how many detached properties sell every month. Don't be alarmed, the pushpins are the size of a city block until you zoom...
An excerpt and graph from Calculated Risk, click here for the full article: This graph from CoreLogic shows the breakdown of "shadow inventory" by category. For this report, they estimate the number of 90+ day delinquencies, foreclosures and REOs not currently listed...
Bank of America hasn't started up their foreclosure machine yet - here are the number of San Diego County properties they have foreclosed on recently: September: 259 October: 56 November: 1 You can see below that the REO results were building some momemtum between...
Reader "positive" said that 'ghostfaceinvestah', an MBS-trader who comments on Calculated Risk, trusts that LPS accurately reports the mortgage delinquencies and defaults data (I had mentioned my skepticism - Mark E., what do you think about LPS?). I did email LPS...
Hat tip to kwaping for sending this along, from the U-T: The developer of downtown San Diego's largest residential highrise said today that it is giving up on trying to sell any of the 679 condos and is returning deposits to dozens of buyers who had been awaiting the...
We noted how people still say that the banks are sitting on loads of shadow inventory, when, from the street view, it appears that servicers are getting them to market as fast as they can process 'em. Commentors pointed the shadow to those delinquent borrowers who...
Readers regularly send in articles for us to examine here - keep them coming! Tom sent in an article from realestatechannel.com that was also referenced in a mortgage blogger's post which Gordon sent in, looking for thoughts - thanks to the both of you! Both...
Today's LPS report noted a rise in mortgage delinquencies, and once the mainstream media got ahold of it, you would have thought that the sky was falling. They are drooling for bad housing news, and are quickly jump to many generalized conclusions. Why is anybody...
From SFGate: Want a read on the housing market's future? Ask a vulture investor. So-called vultures - also known as distressed-asset investors - make money by buying distressed assets, such as soured mortgage loans, and predicting which way the wind will blow to...
