The counts of local bank-owned properties are not out in the open, and people are wondering - are there loads of REOs waiting to hit the market? Here are the SD County REOs from the tax rolls, compared to April 8, 2008: Lender 4/8/08 Today Deutsche 1,066 49 US Bank...
Institutional investors entered the housing market at a rapid pace this past year, but their level of purchasing activity is relatively small compared to the overall market. For instance, Blackstone Group is expected to be the largest institutional purchaser in 2013,...
Wouldn't it make sense for banks to be unloading REOs when all we see are bidding wars everywhere? Initially we thought that the drop-off in foreclosures was because banks were pushing people to short sale instead. With this being the last year of debt-tax exemptions,...
How many short sales and REOs are happening in the elite areas of NSDCC? 12% Detached Sales between April 1 and July 31 in Del Mar, Solana Beach, RSF, and CV: Type # of Sales Avg $/sf % of Total SS & REOs 48 $297/sf 12% Non-SS&REOs 338 $431/sf 88% Total 386 $414/sf...
With the tax exemption of debt-relief expiring at the end of the year, we keep thinking that there will be a surge of short-sale listings coming to market. Not only is there NOT a surge of short-sale listings, there's not a surge of ANY listings, relatively. Here are...
We thought the August blip of increased NOD filings might be a one-time event, but it looks like the servicers are keeping up the pace. Hopefully it'll translate into more trustee sales: Unfortunately, we know that a surge of NODs and about $4 will get you a cup of...
From HW: Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb. More than 25,300 repossessed homes held by Freddie Mac sold in the third quarter, down 13.5% from the nearly 30,000...
Someone asked, "JtR, why do you keep posting stories about the can-kicking programs being employed by the government?" The answer is because the media and government keep insisting that we can't handle a flood of foreclosures, and that together, they'll do whatever is...
In August we saw a spike in NODs, mostly due to Bank of America's increased output. It was mentioned here that last month's NODs appeared to be slowing. But I just figured out that the NOD reporting by foreclosureradar.com runs about 10 days behind - even though they...
Yesterday's graphs from foreclosureradar weren't the most recent; but these are the latest available. I think we'll see an increase in NODs for the 3Q11 - those totals should be out soon: The banks are giving plenty of latitude these days: The cancellations look like...
