Back in the old days there were 100-500 foreclosures per year in SD County: We've already had 1,504 properties get foreclosed in the first half of 2013, so historically we're still at elevated levels. But with the county averaging 3,000+ total sales per month, lenders...
Hat tip to Ken for sending in this article from Forbes: http://www.forbes.com/sites/morganbrennan/2013/06/24/3-reasons-the-bubble-like-surge-in-home-prices-wont-last/ An excerpt that suggests one reason why prices are going up: In some cases banks are choosing to hold...
Thanks to daytrip for sending in this article about banks foreclosing on 11% more homes in May than in April: http://www.usatoday.com/story/money/business/2013/06/13/foreclosure-home-price-inventory/2415831/ They haven't got the memo yet in San Diego though - there...
Several readers have suggested that the CA Homeowners Bill of Rights has been the cause of the slowing foreclsoure activity - and now Barclays agrees. From dsnews.com: The California Homeowner Bill of Rights (HBR) is the main driving force behind the recent slowdown...
If banks aren't going to at least threaten to foreclose on the non-payers, then no surprise that more are testing the system - from HW: Mortgage defaults increased nationwide in the fourth quarter as more Americans began to default on all types of consumer debt. The...
With the strategy of not-foreclosing working so well for the banks, you can probably say that REO and short-sale listings are winding down. How did we do? While it is likely that REO and short-sale listings will continue for years, the media keeps touting how the...
National inventory in green on left - it looks like they expect another 50% drop next year! On the right, they are predicting that there will be less than 1 foreclosure filing per 1,000 households by the end of next year. The banks figured it out - just stop...
Our friends at Dr Housing Bubble Blog noted that foreclosure notices were rising last month - for those hoping for more inventory, it would be a welcome relief to see the banks on the move. If a surge of REO listings hit the market right after the Super Bowl, it...
I'm not sure if this displayed previously, but it was researched by one of the big data gatherers (initials C-L) about the Carmel Valley zip code 92130: Total number of homes in that zip code: 14,331 Total number of Neg Am loans: 282 Total number of SFRs with neg-am:...
The number of SD properties foreclosed in 3Q12 were less than half of the number of foreclosures in 3Q10, but the ratio of third-party buys compared to those going back to the beneficiary has been changing. Two years ago, 76% of the trustee sales went back-to-bene,...
