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January 18, 2009 at 9:36 AM #331313January 18, 2009 at 9:52 AM #330813
temeculaguy
ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM #331150ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM #331226ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM #331253ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:52 AM #331338ParticipantThat is an anectdotal circumstance being theorized as a national conspiracy, I’m not buying it. The banks are slow to foreclose because they are busy and because they are encouraged/hindered by the governement to find alternatives and work out loans. The redefault rate is high on workouts and ultimately most are foreclosed and sold. The year long process is frustrating and the banks see it as a last result but 70% of the inventory isn’t sitting vacant as part of a conspiracy. Most banks held off on December kick outs but if you run the nods/nots for January, you will see they are heating up again. I spent 18 months tracking the nods/nots and curbside analysis of a particular zip code in my maniacal quest to beat the system. The conspiracy theories were fun but every data anomolie had an explanation. The California forcing banks to jump through some hoops before foreclosing caused about a 6 week drought in foreclosures and December always slows down, but the data gets corrected in most cases and evens out. That’s the beauty of the invisible hand, you can;t always see it but it’s always there. Of all the properties I tracked from nod to not to list, they all made eventually, they just had different timelines for reasons that I was not privy to.
January 18, 2009 at 9:53 AM #330808NotCranky
ParticipantJust curious Adam, Are his listings then getting bid up? Is that the strategy.Listing low doesn’t seem like anything that any REO person wouldn’t do if the banks let them. Why does Scott stand out?
Are buyers opposite his listings getting better deals?
Is it this man?
http://www.zillow.com/profile/GRSPacificREO/January 18, 2009 at 9:53 AM #331145ParticipantJust curious Adam, Are his listings then getting bid up? Is that the strategy.Listing low doesn’t seem like anything that any REO person wouldn’t do if the banks let them. Why does Scott stand out?
Are buyers opposite his listings getting better deals?
Is it this man?
http://www.zillow.com/profile/GRSPacificREO/January 18, 2009 at 9:53 AM #331221ParticipantJust curious Adam, Are his listings then getting bid up? Is that the strategy.Listing low doesn’t seem like anything that any REO person wouldn’t do if the banks let them. Why does Scott stand out?
Are buyers opposite his listings getting better deals?
Is it this man?
http://www.zillow.com/profile/GRSPacificREO/January 18, 2009 at 9:53 AM #331248ParticipantJust curious Adam, Are his listings then getting bid up? Is that the strategy.Listing low doesn’t seem like anything that any REO person wouldn’t do if the banks let them. Why does Scott stand out?
Are buyers opposite his listings getting better deals?
Is it this man?
http://www.zillow.com/profile/GRSPacificREO/January 18, 2009 at 9:53 AM #331333ParticipantJust curious Adam, Are his listings then getting bid up? Is that the strategy.Listing low doesn’t seem like anything that any REO person wouldn’t do if the banks let them. Why does Scott stand out?
Are buyers opposite his listings getting better deals?
Is it this man?
http://www.zillow.com/profile/GRSPacificREO/January 18, 2009 at 10:03 AM #330818SD Realtor
ParticipantRus he had a listing on Chapalita in Encinitas recently. Comps were in 500’s and perhaps a bit higher and he listed at 360k. I would imagine the bidding pushed the home into the 400’s if not 500’s. He has another current listing in Southpark and the comps are I believe in the high 200s if not 300s and he priced it at 220k I think.
All his listings do get put on the MLS.
So yeah the listings that I know of do get bid up. As far as REOs getting priced right I agree that most of them do indeed get priced correctly but in his case they seem to get priced exceptionally low.
I compare him to like Earl Gervais who seems to get ALOT of REO properties and Earl doesn’t price as aggressively, but he still does price well and his homes also do get bid up.
January 18, 2009 at 10:03 AM #331155ParticipantRus he had a listing on Chapalita in Encinitas recently. Comps were in 500’s and perhaps a bit higher and he listed at 360k. I would imagine the bidding pushed the home into the 400’s if not 500’s. He has another current listing in Southpark and the comps are I believe in the high 200s if not 300s and he priced it at 220k I think.
All his listings do get put on the MLS.
So yeah the listings that I know of do get bid up. As far as REOs getting priced right I agree that most of them do indeed get priced correctly but in his case they seem to get priced exceptionally low.
I compare him to like Earl Gervais who seems to get ALOT of REO properties and Earl doesn’t price as aggressively, but he still does price well and his homes also do get bid up.
January 18, 2009 at 10:03 AM #331231ParticipantRus he had a listing on Chapalita in Encinitas recently. Comps were in 500’s and perhaps a bit higher and he listed at 360k. I would imagine the bidding pushed the home into the 400’s if not 500’s. He has another current listing in Southpark and the comps are I believe in the high 200s if not 300s and he priced it at 220k I think.
All his listings do get put on the MLS.
So yeah the listings that I know of do get bid up. As far as REOs getting priced right I agree that most of them do indeed get priced correctly but in his case they seem to get priced exceptionally low.
I compare him to like Earl Gervais who seems to get ALOT of REO properties and Earl doesn’t price as aggressively, but he still does price well and his homes also do get bid up.
January 18, 2009 at 10:03 AM #331258ParticipantRus he had a listing on Chapalita in Encinitas recently. Comps were in 500’s and perhaps a bit higher and he listed at 360k. I would imagine the bidding pushed the home into the 400’s if not 500’s. He has another current listing in Southpark and the comps are I believe in the high 200s if not 300s and he priced it at 220k I think.
All his listings do get put on the MLS.
So yeah the listings that I know of do get bid up. As far as REOs getting priced right I agree that most of them do indeed get priced correctly but in his case they seem to get priced exceptionally low.
I compare him to like Earl Gervais who seems to get ALOT of REO properties and Earl doesn’t price as aggressively, but he still does price well and his homes also do get bid up.
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