Now that the MLS has a special box for marking bank-owned listings, let’s track their progress lately – are more foreclosed properties coming on the market yet?
San Diego County, Attached and Detached:
| Week Of | # New Listings | Marked PEND | Closed |
| 7/5-11 | |||
| 7/12-18 | |||
| 7/19-25 | |||
| 7/26-8/1 | |||
| 8/2-8 | |||
| 8/9-15 |
New listings are in decline, new pendings are hot and getting hotter, yet getting them closed looks to be tougher now. Loan servicers have to be in overwhelm mode, or just laughing at us.
That’s a pretty big drop in two weeks. Any theory? Could it be that everyone in New York is in the Hamptons this month and no one is around to approve loans?
Jim, Please ask your Old Pal Honest Funny Yunny what he Thinks about THIS: English transltion:
The NAR is next: The music has stopped and there are No Chairs. The last train has left the station.
A holy shit moment for the US Economy: National Asso of Homebuilders shutting down
From: The Executive Officers Council [mailto:eoc@nahb.mmsend.com]
On Behalf Of The Executive Officers Council
Sent: Tuesday, August 18, 2009 3:38 PM
Subject: NAHB to Shut Down Operations August 24 – 28
Dear Executive Officers,
As NAHB President and CEO Jerry Howard reported to the NAHB Board of Directors in May, NAHB will be closed for business for eight days in 2009 and will reduce compensation for the entire staff. Jerry noted that “this shut down plan, along with other cost-cutting measures that have already been adopted, is being implemented to help the Association save millions of dollars.”
As a reminder, under the plan NAHB will shut down its operations for the final week of August (August 24 through 28) and the three days prior to the Thanksgiving holiday (November 23, 24 and 25). In addition, all staff compensation will be cut by a commensurate amount. During this shut down, NAHB staff will not be in the office or generally available via phone or e-mail. Staff will answer any messages received during the closure when they return to the Office and normal business operations are resumed.
NAHB.org, a key communication tool for the Federation, will remain up and operational for your review during this time. Should you have a question or concern and are uncertain as to where it should be directed, you can review the NAHB Subject and Staff Directories at: http://www.nahb.org/contact, or leave a message with the NAHB Service Center via phone or e-mail at: 800-368-5242 x0 or info@nahb.org. Again, responses to any waiting e-mails will not take place until NAHB returns to normal business operations.
Your flexibility and support during this challenging time is appreciated.
Regards,
The Executive Officers Council
You Reap what you Sow.
My guess is less cash buyers, more loans from first time buyers which require longer approvals.
And, if you look at a month ago the ratios are the same; 243/212 : 198/x = 172. Or, as JtR put it, “static”.
Aren’t we in a new bull market?Last I checked real estate is a no lose investment according to the professionals.
I’ll take the last laugh…