We have been told that banks and servicers are now using short-sales, instead of foreclosures, as their primary defaulter-disposal method. It appears that the conversion is well underway in San Diego County - here are the number of residential distressed-sales and...
BofA conducted a realtor seminar today on REOs and short sales. Some of the highlights: 1. Short sales average three buyers per closing (average two fallouts before the third one sticks). 2. 18% of short sales have some elements of fraud. 3. They forgive...
This chart makes it looks like foreclosures are on the rise lately, but don't be too impressed - these monthly foreclosure counts are half of what they were two years ago. There are still 10,504 properties on the NOD and NOT lists in San Diego County, and of the 193...
From HW: As unpalatable as it sounds, a working paper paper from the National Bureau of Economic Research finds that delaying foreclosures and trying to keep distressed homeowners in their properties is actually worse for local housing economies. Their proposed...
Hat tip to Susie for sending in this follow-up story on the mistaken foreclosure: Alvin and Pat Tjosaas, a retired couple in Woodland Hills, Calif., had the bad luck of having their home mistaken for a neighboring foreclosed home and being cleared by contractors hired...
Hat tip to daytrip for sending this in, from CBSLA: The owners of a modest home near Twentynine Palms lost their cherished possessions after a bank mistakenly foreclosed their residence. A crew broke into Alvin and Pat Tjosaas’ desert home and took everything after...
From northjersey.com: Elvira Grau, the Englewood-based party planner who appeared on “The Real Housewives of New Jersey,” and her husband have lost their $3 million Cresskill home to foreclosure. It’s one of a growing number of high-end foreclosures — a sign that...
Hat tip to daytrip for sending this in, from jalopnik.com: (1965 Ferrari 275 GTB above) According to a tip from a Jalopnik reader, the owner of 12 Ferraris — plus an incongruous but very cool Ford Thunderbird — also owned a real estate company that went bankrupt....
From the latimes.com: Everyone knows that in real estate, it's location, location, location. So San Diego real estate agent Marco Manuel Luis arranged for a couple to buy a home in exclusive Rancho Santa Fe for more than $2 million. But now, because of his role in...
From CAR - scroll down to chart showing SD County #2 in state; only San Mateo County is lower: LOS ANGELES (Aug. 23) – A continued shortage of available homes on the market impeded California pending home sales in July, but pending sales were still higher from the...
