They must have had everything from polar bears to the red river hogs living in this house:
Stench
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Short Sales
Mortgage-Debt Forgiveness
I haven't seen any official N.A.R. statement regarding an extension of the tax exemption of debt relief, but there was a mention here in the first paragraph from their tax counsel:...
Short Sale Stink
Last week we discussed a situation in Chula Vista where two short-sale frauds were potentially undermining the ability of others to sell for top dollar. Shady short-sales erode the faith and trust in the system - which could cause participants to make erroneous...
Short-Sale Cannibalism
Sent in by an anonymous flipper. Fifteen percent of this year's NSDCC sales have been round-tripped: We’ve purchased a couple at trustee sale recently where the “comps” are all short sales and REO’s. Typically it’s never a problem getting 5 – 10% more than a...
Appreciation in NSDCC?
Rich Toscano noted here that the low-inventory conditions might cause some appreciation: Months of inventory, which measures how many homes are for sale compared the rate at which they are being purchased, was notably lower than in recent Januaries past: There was...
Cool Hand Lisa
From HW: A new Senate bill aims to speed up the short-sale process by requiring mortgage lenders or servicers to respond within a mandated timeline or face potential fines. The bill, introduced late last week by Sen. Lisa Murkowski, R-Alaska, gives the servicer 75...
Foreclosures Slowing
From CoreLogic: Completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. In December 2011 there was a month-over-month decrease in completed foreclosures to 55,000 from 57,000 in November 2011. The December 2011 completed foreclosures...
Distressed vs. Non
Yesterday CR showed the breakdown of distressed sales year-over-year for different cities here. Let's look at our last six months, the period during which short-sale approvals have sped up, and compare to the previous year. A comparison of NSDCC detached listings sold...
Kamala Says Fair Deal
Excerpts from the latimes.com: California walked away with the biggest chunk of this week's landmark foreclosure settlement partly because of the state's size but also because of Bank of America's desire to escape the legacy of its Countrywide problems. The nation's...
Bank Fights Back
Hat tip to SM for sending this in from the ocregister.com: It was a $2 million Laguna Beach dream house six years in the dreaming, building and litigating, but it was taken from Mark Zigner in less than a minute on Thursday, in an auction on the courthouse sidewalk. I...
