[quote=CONCHO]The banks aren’t gonna list those REOs until they are forced to. And guess what, they aren’t going to be forced to because their buddies in the government will keep shovelling OUR money THEIR way. [/quote]
That is VERY true. I used to be of the belief who can last the longest, those who have to sell or those who want to buy. But if the banks don’t foreclose and take their sweet time about it, allowing buyers to stay in their house for free, well, what’s the rush.
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What sickens me most is the knowledge that quite a few people have done what I just described, AND THEY’RE GOING TO GET AWAY WITH IT with our government’s help. AAAARRRRGH!
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I feel your pain greatly.
UR – I monitor 92109, 92037, 92110, 92117, 92106, 92107, 92103, 92104, 92116, 92122, 92130. I’ve marked the NODs on SDL. I do all the SFR and in a few select zips I also mark the condos. The last month 9 out of 10 NODs were not listed for sale, as opposed to throughout last year, 9 out of 10 were listed.
I consider the NODs as stealth. I don’t have the numbers in front of me, but it seems a high percentage of NODs in the past eventually either were short-sold or became REOs.
The other factor that some bulls do not want to consider is the U6 BLS unemployment number which is now 15.6%. It is expected to rise. What impact will that have on future NODs or future sales or the economy in general.
