You’re welcome. One thing I’ve really noticed about this down-turn in the real estate market is that it is very far from “normal” or like anything that’s come before it here in CA. So I would think outside the box about this whole scenario.i.e…it’s so bad this time that lenders are in serious trouble and they hold the debt. How does it effect them? How will they behave based on this threat to their survival?
It may not be too long before they stop automatically sending out NOD’s at three months of non-payments. They may start sending out “counseling appoinments” or something along these lines to avoid the process and get the loan changed, etc….or they may wait to send out NOD’s for 5 months? I dont know, but odds are they will get very creative in order to hide the dissaster that is confronting them.
So I would not out a lot of faith in the standard data points like inventory on the MLS. “This aint your dads recession.”
