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Saturday, June 21st, 2008 at 1:24 PM

REO Counts

 

Here is the latest count of SD County properties owned by lenders, and how they compared to September 24, 2007, plus some additional banks to track for next time:

Bank                  9/24/07            6/21/08

Deutsche             628                       904

Bank of NY        363                       579

HSBC                    262                      414

CFC                          87                         98

Total                 1,340                  1,995       +49%

WFB                                                    524

WaMu                                                278

BofA                                                     87

Total                                              2,884

These are SFRs and condos only, but include a few properties whose owner has deeded over the ownership to a bank in a trust – maybe a couple of dozen?

Here are the REOs in our target neighborhoods held by Deutsche, HSBC, BoNY, and CFC – I’m going to check to see how many of these are on the open market.  Care to guess the percentage? :

REOs%20prime%20zips2-1.jpg

 

REOs%20prime%20zips2-2.jpg

REOs%20prime%20zips2-3.jpg

 

 

Posted on Saturday, June 21st, 2008 at 1:24 PM in REO Counts | 9 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 9 Responses

  1. 25%?

    sean | June 21st, 2008 at 7:39 pm

  2. 14%

    The Blur | June 21st, 2008 at 7:45 pm

  3. 18%

    Angela | June 21st, 2008 at 7:48 pm

  4. 20%

    Simone | June 21st, 2008 at 9:02 pm

  5. 11%

    neil diamond | June 21st, 2008 at 9:55 pm

  6. 20% (or 21%, if duplicates are not allowed) :)

    Any comment on CFC showing only a marginal increase, while the other lenders are all up around 50%? Or is it pretty common knowledge that CFC is sandbagging their foreclosures to make their stats look less horrible until after BofA is choking on them?

    Nick | June 22nd, 2008 at 12:28 am

  7. CFC only gets stuck owning those that default in the first 12 months. I’m guessing that CFC originated all, or almost all, of the loans (and properties owned) by the other three, Deutsche, HSBC, and US Bank, because CFC is the servicing agent/trustee when disposing of those properties.

    I haven’t checked yet, but I’ll guess that 95% of the CFC-owned properties are on the market, while 35% are listed of those they are servicing.

    Jim the Realtor | June 22nd, 2008 at 1:23 am

  8. 30%

    ocrenter | June 23rd, 2008 at 4:57 am

  9. In the link for San Diego County REOs, I see some ridiculously low prices for some of the sales. A sales price can be 4-5 times less than min bid. Am I missing something? Here’s an example –

    SITE ADDR: 4855 COLE ST SAN DIEGO 92117 SALE DATE-PRICE: $35,680.00
    PARCEL#: 360-070-14-2 BR,BA,SQFT 2,2,936 TBMPG: 1248-1E YBUILT: 1968 USE CODE Condominium (Residenti
    PH:
    NOD DATE: 01/25/2008 LOAN AMNT: $175,000.00 LOAN DATE: 11/24/2004 DELQ$: $9,596.00 NOD DOC#: 2008-0036046
    MIN BID: $187,585.00
    REO DATE: 06/03/2008 BUYER: WASHINGTON MUTUAL BANK FA SALEPRICE: $35,680.00

    ars20 | June 24th, 2008 at 11:51 pm

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