I hope the headline porn grabbed you! 😆 REO listings have increased lately around NSDCC, though they are still a small fraction of the overall marketplace (there have been 2,238 detached-home sales closed this year between Carlsbad and La Jolla). The short-sale...
Yesterday I saw a for-sale sign in front of an upcoming REO listing. It made me wonder, "How many REO and short-sale listings of detached-homes have we had this year around NSDCC? Here are the counts: REO: 5 Short Sales: 43 Non-distressed: 3,516 There's not much...
From CAR: After receiving comments from California tax practitioners and its own review of California law, the IRS has issued a clarification to its September 19, 2013 letter to Senator Barbara Boxer concerning short sales and taxes on the forgiven debt. The new IRS...
The MLS shows that 11% of the 1Q14 residential sales in SD County were REO and short sales, and this article shows 7.1% flips (hat tip to SD Squatter): Realty Trac, the nation’s leading source for comprehensive housing data, today released its Q1 2014 U.S. Home...
The elimination of short sales has had several benefits - one is a cheerier outlook on life by one easy-going realtor:
Here is investigative reporting for you. Jason Hidalgo from the Reno Gazette-Journal found that dual-agency short sales with a prearranged cash buyer accounted for more than 10 percent of Northern Nevada’s 2,096 single-family home short sales last year. He looked me...
From RealtyTrac: http://www.realtytrac.com/content/foreclosure-market-report/q1-2014-home-equity-and-underwater-report-8037 “The relatively high percentage of foreclosures with equity is surprising to many because it would seem homeowners with equity could easily...
Hat tip to Booty Juice! From calcoastnews.com: Timothy William Barnes, 37, pleaded guilty Monday to committing bank fraud. Barnes, a San Francisco resident, owned and operated Apex Properties Real Estate Brokerage in San Luis Obispo. Barnes is accused of...
After seeing Bernanke holding the smoking gun on Monday (where he said that he told banks to not disrupt the economy with their REOs), did you give up hope getting a deal on a distressed sale? If not, this might push you closer to believing. Here is the mix of NSDCC...
Can we make the case that short sales are the precursor to foreclosures? Those underwater probably won't sell unless pressure is being applied through the foreclsoure process. The 'waterfall' of banker events starts with a loan-mod attempt, and if that doesn't work,...
