Let's keep the videos shorter - the first two seen in this Carlsbad tour were foreclosed in the last two weeks, but what will become of the remaining new homes/lots on the last street has yet to be determined:
Turbo REO Tour
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REOs Coming to Market
REO Rancho
There has only been one house in the Covenant close under $1,000,000 so far, the 1,862sf one on 3.16 acres at 6427 Paseo Delicias: http://www.sdlookup.com/MLS-090036222-6427_Paseo_Delicias_Rancho_Santa_Fe_CA_92067 It had listed for $1,320,000 in June, but had to lower...
Pre-Approved Short Sales
Sean and the folks at Foreclosureradar.com are very gracious in providing their data, though I don't like this - fewer trustee sales, and more cancellations. If the trend continues, we'll have fewer REO listings, which are typically well-priced and vacant, and instead...
Sleuthing
More auction-list and REO properties; these are in Del Mar and Leucadia, west of the I-5 freeway. But first, some short-sale advice for listing agents:
Crazy Suzy
hat tip to the Leucadia Blog for sending over Suzy's story, plus they mentioned the Encinitas Extreme Home Makeover house in foreclosure too: http://www.theleucadiablog.com/2009/12/encinitas-monster-house-and-extreme.html...
Sending a Message?
In the previous post, we saw that second mortgage holder Bank of America was willing to take nothing now, and allow the first lender to foreclose - rather than accept $10,000. Let's examine the possible reasons why this happened. 1. Banks are stupid - a crass...
All-Lagoon
The 4 br/3.5 ba, 3,265sf house at 3291 Avenida La Cima in Carlsbad has sat vacant all year, and was being offered as a short sale, listed for $925,000. The owner bought it new in 2003 for $694,500, and had refinanced at least three times. The latest left her with a...
F-List Review
Folks have been wondering about what details could be culled from the foreclosure list. We'll give the benefit of the doubt and omit those on the NOD list - they might be able to save themselves, or get a loan mod. Let's just look at the 100 SFRs valued between...
REO Nights
Stop the whining. You should be grateful for the opportunity to spend hours driving around in the middle of .....well, um...Hellhole Canyon: I mentioned the business opportunity because the pot-house video a few months back generated more calls from buyers than all...
Only The Shadow
Here's one more 16-page report on shadow inventory, with many charts and graphs: http://matrix.millersamuel.com/wp-content/3q09/Amherst%20Mortgage%20Insight%2009232009.pdf An excerpt: The single largest impediment to a recovery in the housing market is the large...
