San Diego Housing Bubble News and Analysis

Just know that it is the worst in history.

At this point, the statistics are misleading and pointless.

They are no longer an indication of anything, except being understated, certainly not overstated.

With delays, moratoriums, modifications, workouts, and procrastinating, it is impossible to get an accurate gauge of the problem.

If servicers/lenders were reporting NOD's accurately on the same schedule every month, the numbers WOULD mean something.

The swings, the estimates, the averages and the median are nothing more than crap for the main stream media to report, and for the masses to believe as gospel.

It's just as foolish to look at housing inventory that is currently listed and conclude that those are the only houses for sale.

Liars, damn liars and statistics.

There are probably 5x the number of listings that would be up for sale IF prices were 10%-20% higher,
people would be thrilled to sell for just a bit more.

Many people would love to sell their house today but know that it is impossible because of what they owe, and they don't want to "lose money" so they are hanging on until the market improves.
Bwaaaaa HAAAA HAAAA.

No sense in listing it, but it's for sale at a price.

They are better off getting foreclosed on and staying for free for 9 months ++++++ but they haven't accepted this yet.
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On another note, Sheila Bair's plan is a joke.
Only if it's NOT in the borrower's best interest will they offer them a mod....

If FDIC is better off foreclosing, they will do that to protect the investor, not the mortgage slave.

Unfortunate victims that were preyed upon by mortgage scum are now being victimized by the govt on the premise of helping them..

Shame, crying shame.

I am shopping for a house. Having great difficulty because of narrow criteria. You comment made me wonder whether I might simply go door to door in neighborhoods I am interested in. "Wanna sell your house?"

Is there opportunity in becoming a realtor and getting listings by coaching people on the short sale process?

Fear, it's not a bad idea.

A close friend of mine in AZ had a guy knock on his door years ago and ask if Fear, it's not a bad idea.

A close friend of mine in AZ had a guy knock on his door years ago and ask if he wanted to sell his house...it wasn't an agent or tire kicker.

The guy offered a very fair price at the time and a deal was made. My friend's house had not been up for sale nor had he mentioned it being available.

The knock on the door was completely out of the blue.

Think outside the box, most people are afraid to.

Let me know if you need a mortgage after the "seller" says YES !
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Dealing with short sales is a huge waste of time.
There is no coaching of seller's needed, they have nothing to do with it.

It's up to the lender/servicer. They are the ones that need coaching.

Some people will be better off heading towards foreclosure.. Once the lender knows they are serious, they may not actually get there.

Lender's don't want houses, they want money.

The system is broken. > HLS

Check out the county property tax roles. I think it's public record and on-line. See who's way behind in paying their property taxes. I think this would be a strong indicator of someone's financial position on the property. As it takes the govt 5 years of non-payment before they actually go after the property. So it may be one of the first things people start to avoid paying in more trying times. Just a thought.