Thanks to SJ for sending this along, authored by Sean at foreclosureradar: http://www.foreclosuretruth.com/blog/sean/waiting-catch-wave-surge-reo-listings-unlikely Sean: For a number months now I've been telling reporters and others that I didn't think we would see...
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 7/5-11 229 236 229...
This youtube video tour highlights the north side of 4S Ranch (West RB, 92127) where the density is high, Mello-Ruze higher, and timing bad - this 3,390sf house was sold new in April, 2005 for $847,000. I checked the sales when I returned, and they are healthy: Sq....
You gotta feel for the guy in the second clip:
The first two properties featured are already bank-owned, and the third has their trustee-sale date bearing down on them - and we're not fooling around with subprime crackerboxes anymore: Most of the defaulters I have spoken with claim that they are just doing a loan...
The house next door to the one featured here on Heritage (last house in video) had closed escrow in February for $850,000, and since then it looked like the ER market could be firming up, because four others closed in the mid-$800,000s: Street Sq. Ft. Sales Price Date...
The foreclosure tsunami appears to be on its way - new defaults, re-defaults, and foreclosure numbers are rising, and there's still the backlog of those who are attempting to loan mod that will eventually get denied. According to foreclosureradar, there are 4,047...
from the latimes.com: http://www.latimes.com/business/la-fi-default31-2009jul31,0,173542.story About 1 in 10 Californians with a home loan is now in default, and there's growing evidence that the mortgage meltdown is spreading to commercial real estate. The home...
Why is the foreclosure/short-sale/loan mod process all mucked up? From the N.Y. Times: http://www.nytimes.com/2009/07/30/business/30services.html?_r=1 “For many subprime servicers, late fees alone constitute a significant fraction of their total income and profit,”...
This tour of San Elijo Hills includes a house sold in March by one of the Lopez Brothers, who ran Century 21 Eldorado. The Mortgage Fraud Blog has a good summary of their specific fraudulent acts:...
