Here is how I see it. Each bank and each home have specific investors involved along with the Fed controlling that bank and letting them know how many homes can be released. The bank has a decision to make. Do they let homes that have the potential of losing a large percentage go into a foreclosure or do they release homes that have a higher value on paper or a smaller percentage on the losing end? I suppose they chose the latter as banks seem to have very little say at this point while the FED has all or most of the control.
Certain areas with large lots that are currently being maintained may be an asset to the bank rather than foreclosing and forcing a much bigger liability, i.e. vandalism, dead lawns and so forth. Homes up in De Luz and other areas in the hills with large lots have a much greater potential of homeowners getting free rent than a home in the middle of Redhawk as the banks are well aware of the negative equity situation in those million dollar homes in the hills that are now worth much less.
I guess every opinion is exactly that. No one really knows what the hell is going on, but it makes for some good ideas.
TG, personally I disagree with what you said about the worst being behind us as I think this fall will produce some nasty data that will throw values under the bus again. The 2nd coming of the bubble bursting is near. Be prepared!
