These days, every time you read the news you'll see another expert talking about the shadow inventory coming home to roost. Depending on the guesser, there will be somewhere between 3 million and 8 million homes that get foreclosed in America over the next 1-10...
Nick at the WSJ.com has an article (click here) about how the flow of foreclosures will drive pricing in the the real estate market. Some excerpts: Regulators relaxed mark-to-market accounting rules, giving banks more flexibility in valuing certain real-estate assets...
From NMN: Fannie Mae wants out of its defaulted residential mortgage holdings as quickly as possible and is warning loan servicers not to stand in its way. The government-sponsored enterprise notified servicers Tuesday that it will begin monitoring them to determine...
An example of a buyer who took a lowball shot at a listing that had some tell-tale signs: 1. A number of other active listings nearby that weren't selling, 2. Out-of-town REO listing agent, 3. A World Savings/Wachovia/Wells Fargo original loan amount of $687,000,...
Yes, I'm one of the active listings impacted by the subject property herein. The sellers and I are in the process of re-evaluating.
We try to keep focused on the SFR foreclosure activity in the North SD County Coastal region, but it takes a keen eye to see the truth. There has been very few top quality homes foreclosed on, and offered by the bank as REO listings - but we'll keep working on it!
Hat tip to Jason (aka osidebuyer). This nut had to call the TV-news crew on herself:
From the insider: The housing market will experience a tepid recovery in 2010 but continue to ail for the next couple of years, according to Zelman & Associates. “Most economists are more optimistic than I am,” noted Ivy Zelman, CEO, of the research analytics...
From HW: The amount of REO properties held by Citigroup reached $1.4bn in Q210, an 81% increase from the same time last year. In the second quarter of 2009, Citigroup held $789m in REO in North America. The latest total is a 10% increase from the $1.2bn in North...
