A fraud follow-up by Kelly at the Voice of San Diego: All of the 81 condos from the Sommerset Villas, Sommerset Woods and Westlake Ranch complexes involved in the scam have been repossessed. Twenty-four have yet to find new buyers. But the other 57 have resold for...
Worm brought up some valid concerns about our future, and how certain events could impact the real estate market. Anyone considering a move should seriously consider any and all potential hazards, so let's examine. My comments are in italics: 1. The Fed quits...
From NMN: A Rumson, N.J., company is giving underwater borrowers a reason not to walk away from their homes, a move that could help prevent further deterioration in the value of a sizable chunk of the problem loans and properties still bogging down the market. The...
A reader wanted an opinion on this quote from the latest CNN survey: "Foreclosure sales will pick up this spring as mortgage servicers figure out who can qualify for a modification and who can't," said Zandi. The bank reps on Monday's conference call both talked about...
On Monday, CR had this SS post and graph on the increase in short sales. The information used was part of a package that included a national audio conference held that day about short sales, and the upcoming HAFA, which begins April 5th. There were three speakers,...
Kelly at the Voice of SD reviews the current market conditions in the San Diego real estate market at this link, here's an excerpt: There were 9,243 active homes and condos for sale on the Multiple Listing Service on Tuesday, according to Klinge. That number pales...
The guys who made the video that aired on February 8th describing the IndyMac/FDIC/One West deal have responded to the FDIC's press release, and are standing by their story: http://www.thinkbigworksmall.com/mypage/player/tbws/23622/1580248 Apparently the FDIC doesn't...
Julie brought up the mark-to-market accounting requirement for banks. I don't think the banks worry much about marking to market. Of the 43 Countrywide/B of A listings I've sold, I can't think of one of the foreclosed mortgages that was actually owned by them. CFC...
Hat tip to W.C. for including this article - I wanted to check this format too, where the author allows for embedding, is this readable on handhelds? I can opt for a skinnier format too:
Seen on CR, this summary on Bloomberg discusses the recent developments with short sales, DILs, and loan modifications. The article's ending: Short sales benefit a neighborhood because they clear out stagnant properties that may have an adverse effect on values, said...
