A guy commented on an old REO video that was one of my favorites of all-time. I remember it not only because an ice-cream truck was featured in the video (like so many of my REO videos back in the day) but also because a neighbor busted my chops for parking on the...
How bad was it back in the day? Will it ever get this bad again? This was my first REO listing in 2008. For comparison, the home next door sold for $482,000 about a year ago.
The real estate market was boisterous in last half of 2020, which made it easy to predict that once we got past the election and into the new year we'd probably see the Greatest Real Estate Frenzy Ever. Let's use February 22nd as the day the frenzy really kicked in....
Thanks to KCM for providing this report: According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought...
Hat tip to Susie who sent in this article about a law recently passed in California: The new rules apply to one- to four-unit properties sold at foreclosure auctions. If an investor wins one of those homes at auction, then people who want to live in it, as well as...
Wells Fargo foreclosed on this house in 2009 when the former owner owed about $1,066,000. They sold it for $705,000 in July, 2009, which was $61,500 over list price! The same buyers still own it. The latest sale of one of these models was in 2016 when the house two...
This is my eight minutes of TV fame - I was saying back then that virtual tours were inadequate:
Here's a reminder of the last crisis (this video is from February, 2011), when we all thought foreclosures would last forever. We listed for $709,000 and it sold for $675,000 in July, 2011 after 39 days on the market. It resold in August, 2018 for $980,000: What it...
The 10,022 sf space station above Carmel Valley has a $4,000,000 mortgage out on it when Union Bank foreclosed on it in 2010. They sold it for $2,475,000:
I'm not overly concerned about a virus - I have survived plenty: Sales history: 2004: $240,000 2009: $201,000 (my REO sale - list price was $199,900) 2013: $270,000 2018: $361,000
