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Thursday, August 21st, 2008 at 2:24 PM

More Inquiry on O-side REOs

We’ve been following the same four agents who specilize in REO sales, and after this latest reading, I decided to investigate further – there must be more to these numbers:


Jun 11 – 328 Actives/98 Pendings = 3.35


Aug 21 – 382 Actives/111 Pendings = 3.44


Sep 20 – 425 Actives/97 Pendings = 4.38


Nov 9 -  486 Actives/128 Pendings = 3.80


Nov 25 – 484 Actives/138 Pendings = 3.51


Dec 14 – 446 Actives/147 Pendings = 3.03


Jan 15 – 474 Actives/149 Pendings = 3.18


Feb 7 -   482 Actives/187 Pendings = 2.57


Mar 13 – 477 Actives/205 Pendings = 2.33


Apr 18 – 467 Actives/247 Pendings = 1.89


May 13 – 418 Actives/298 Pendings = 1.40


June 10 – 344 Actives/288 Pendings = 1.19


June 27 – 261 Actives/261 Pendings = 1.00


July 30 – 169 Actives/195 Pendings = 0.87


August 21 – 121 Actives/147 Pendings = 0.82


Below is my worksheet used to find more facts.  These are the 60 Deutsche REOs in Oceanside currently (out of 61, the last one didn’t fit the page).  The summary:


26 of the 60 aren’t listed on the MLS yet (43%).


The 34 that are listed are spread around between 21 listing agents.  Good idea.


Here is the breakdown:


15 are active listings (price in dark blue)


17 are pending (price in red)


2 have closed (price in light blue)


The average difference between purchase price and list price is -43% (written in left column)


You can also get an idea of the ownership – even though Deutsche Bank is the owner of record, it’s really a bunch of different Deutsche Bank MBS/CDOs. 


The sale price column also shows you the price paid by the previous owner, and the date of sale.  There are only 10 of the 60 that were purchased prior to 2004, and who hit the housing ATM to get in trouble.  Fifty of the 60 were purchased since 2004, and did some version of the walk-away. 


Thanks to my lousy blog host, the best I could do was to make my worksheet an enclosure – click below:

Posted on Thursday, August 21st, 2008 at 2:24 PM in Foreclosure Agents | 3 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: 3 Responses

  1. It may say on tax rolls or other documents that Deutsche Bank or Bank of New York is the owner, but in almost every case they are acting as trustee for a securitization. The securitization is the actual owner of the property. Many of the servicers and foreclosure attorneys do not put on the actual name that should be listed. i.e. “Deutsche Bank as trustee for Aegis Asset Backed Securities Trust Series 2005-1”. Also, it is the servicer that decides who the agent will be and what price they will take. The servicer can be Countrywide, Wells Fargo, WAMU, Ocwen, Homeside, Wachovia, Litton, etc….

    Securitization Expert | August 21st, 2008 at 8:03 pm

  2. All those pendings. How many closings?

    Rob Dawg | August 21st, 2008 at 9:04 pm

  3. They have closed 947 this year!!

    They closed 763 all of 2007.

    Thanks for throwing a question my way – you know how it is blogging, some days you hit it big, other days…well let’s say this was one of those other days, judging by the response.

    Many people were graciuos to offer support on changing blog hosts and other related computer/tech areas. There are two problems with changing blog hosts:

    1. I lose all subscribers.
    2. I have to somehow transfer 1,000+ articles from the old blog. I don’t think anyone reads the old posts, but it was pointed out that they make for a great resume.

    I’d probably still change because my current host reminds me so much of Sandicor. They change the whole system with virtually no notice, and too bad, you just have to make do. That ticks me off, and days like today are too frustrating to endure.

    Jim the Realtor | August 22nd, 2008 at 1:04 am

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