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Posted by on Sep 17, 2012 in Bubbleinfo TV, REOs for sale | 5 comments | Print Print

Not Many ‘Bank Deals’

Are you wondering how this strategy of banks-not-foreclosing is working?

Here are the counts of active listings of detached homes around NSDCC:

Town REO SS Non REO/SS
Carlsbad
3
19
208
Carmel Valley
1
3
111
Encinitas
0
3
101
DM/SB/RSF
3
4
304
La Jolla
0
2
164
Totals
7
31
888

The supply of distressed homes-for-sale is 4% of the total active listings, and once you subtract Carlsbad, distressed listings make up 2% of the total supply in the other areas.

It would be a great time for banks to unload!

5 Comments

  1. Why would banks want to unload at these rates?

  2. who is eating all the carrying costs for fannie and freddie to sit on all this inventory?

  3. @avgjoe,
    That ones easy, you and all the other American taxpayers!

  4. Q: Why would banks want to unload at these rates?
    A: Low interest rates = higher sales prices for home
    A: High interest rates = Lower sales prices for homes

  5. andrewa:

    correction: “you and all the other FUTURE American taxpayers”.