More from HW: The FHFA set off a firestorm of discussion in 2011 when it announced an REO-bulk sales initiative that aims to repair the hardest-hit housing markets by selling off bulk assets to investors who have the ability to turn those properties into rentals. The...
Even though this RealtyTrac report mentioned how foreclosures had dropped significantly in 2011, the latimes.com couldn't resist starting off their coverage with these two scary paragraphs: California and other states are likely to see an enormous wave of long-delayed...
Today I was on the first broker preview of the year (filming "Ride Along with JtR"), when I came across this REO in Del Mar Heights. The assistant was running open house, and said it had just been inputted onto the MLS - but it's not on the open market as of this...
Two foreclosures that exemplify what to expect in 2012:
From npr.org: Investors from Asia are taking advantage of housing prices that have plummeted in recent years, buying foreclosures and short sales at below what it would cost to build them. Kevin Chu's Hong-Kong investment firm owns property in Las Vegas, but he's...
From the Daily Pilot: COSTA MESA — It will be a Charlie Brown Christmas after all. Though Jim Jordan's foreclosed home at 2269 Santa Ana Ave. now belongs to Wells Fargo, the plywood psychiatry booth, character cutouts, Santa Claus stage in the backyard and other...
DOB sent in this latest bank-speak which was seen in a few media outlets, like the SFBT: CEO Brian Moynihan said Tuesday that the pace of selling its foreclosed home inventory is picking up as “tons” of investor cash comes into the market. “Where you’ve had the...
REO sales will peak when the banks decide to peak them. From HW: The sale of properties repossessed through foreclosure may not peak until 2013, keeping home prices from a meaningful recovery for some time, analysts estimated Monday. Nearly half of the more than...
Hat tip to JG! Bank of America has been "working on their system". In July, they conducted 258 trustee sales of properties throughout San Diego County - either sold to third parties or back-to-bene. Yesterday they blew out 79 properties in one day! There are several...
Here are the recent foreclosure stats for San Diego County. It appears that the banks/servicers have found a steady rut for their foreclosure production: It's hard to believe that NODs are down 15%. It's doubtful that they'll deviate from the plan if it is working? ...
