Foreclosure activity

[Eugene]

I’ve just reactivated my ForeclosureRadar account this week. Some of my old searches:

San Elijo Hills (1 mile from San Elijo Rd / Elfin Forest Rd):
1/27/08: 11 REOs, 21 defaults
3/10/08: 10 REOs, 21 defaults
6/19/08: 10 REOs, 47 defaults (!)

4S Ranch (1 mile from Dove Canyon Rd / Camino Del Norte):
1/27/08: 3 REOs, 12 defaults
3/10/08: 3 REOs, 16 defaults
6/19/08: 7 REOs, 20 defaults

Eastlake/Otay Ranch (1 mile from Hunte Pkwy / Olympic Pkwy):
1/27/08: 21 REOs, 65 defaults
3/10/08: 35 REOs, 75 defaults
6/19/08: 37 REOs, 101 defaults

all searches are for 2000+ sq.ft. SFR’s with 4+ bedrooms.

By the time these defaults make it to the MLS, housing market will be in deep hibernation. This winter should be entertaining.

[gdcox]

For info esmith, please advise how they get data on REOs.

[gdcox]

For info esmith, please advise how they get data on REOs.

[gdcox]

For info esmith, please advise how they get data on REOs.

[gdcox]

For info esmith, please advise how they get data on REOs.

[gdcox]

For info esmith, please advise how they get data on REOs.

[Eugene]

I think they track results of foreclosure auctions, record anything that goes back to lender as a REO, then remove them as they become aware of sales. They are good at tracking foreclosures (a house can be recorded on the day of the auction) but they are not quite as good at learning about sales (for example, one of 7 REOs they see in 4S has actually been sold on 6/11, they just don’t know that yet).

[Eugene]

I think they track results of foreclosure auctions, record anything that goes back to lender as a REO, then remove them as they become aware of sales. They are good at tracking foreclosures (a house can be recorded on the day of the auction) but they are not quite as good at learning about sales (for example, one of 7 REOs they see in 4S has actually been sold on 6/11, they just don’t know that yet).

[Eugene]

I think they track results of foreclosure auctions, record anything that goes back to lender as a REO, then remove them as they become aware of sales. They are good at tracking foreclosures (a house can be recorded on the day of the auction) but they are not quite as good at learning about sales (for example, one of 7 REOs they see in 4S has actually been sold on 6/11, they just don’t know that yet).

[Eugene]

I think they track results of foreclosure auctions, record anything that goes back to lender as a REO, then remove them as they become aware of sales. They are good at tracking foreclosures (a house can be recorded on the day of the auction) but they are not quite as good at learning about sales (for example, one of 7 REOs they see in 4S has actually been sold on 6/11, they just don’t know that yet).

[Eugene]

I think they track results of foreclosure auctions, record anything that goes back to lender as a REO, then remove them as they become aware of sales. They are good at tracking foreclosures (a house can be recorded on the day of the auction) but they are not quite as good at learning about sales (for example, one of 7 REOs they see in 4S has actually been sold on 6/11, they just don’t know that yet).

[gdcox]

If so that is impressive. I wonder if they have total REOs for areas over time. Just wondering. if the method is as you describe they would be picking up as well property owned by investors in mortgaged backed securities (for they are no owned by banks as they were securitised). In that case it is ‘real estate owned ‘ by banks and other financial investors.

On their method, as described by you, just because it is ‘Reo’ does not mean it is all on the market, and the proportion of REO on the market is a key factor. I guess Reos on the market is not tracked by anyone?

[gdcox]

If so that is impressive. I wonder if they have total REOs for areas over time. Just wondering. if the method is as you describe they would be picking up as well property owned by investors in mortgaged backed securities (for they are no owned by banks as they were securitised). In that case it is ‘real estate owned ‘ by banks and other financial investors.

On their method, as described by you, just because it is ‘Reo’ does not mean it is all on the market, and the proportion of REO on the market is a key factor. I guess Reos on the market is not tracked by anyone?

[gdcox]

If so that is impressive. I wonder if they have total REOs for areas over time. Just wondering. if the method is as you describe they would be picking up as well property owned by investors in mortgaged backed securities (for they are no owned by banks as they were securitised). In that case it is ‘real estate owned ‘ by banks and other financial investors.

On their method, as described by you, just because it is ‘Reo’ does not mean it is all on the market, and the proportion of REO on the market is a key factor. I guess Reos on the market is not tracked by anyone?

[gdcox]

If so that is impressive. I wonder if they have total REOs for areas over time. Just wondering. if the method is as you describe they would be picking up as well property owned by investors in mortgaged backed securities (for they are no owned by banks as they were securitised). In that case it is ‘real estate owned ‘ by banks and other financial investors.

On their method, as described by you, just because it is ‘Reo’ does not mean it is all on the market, and the proportion of REO on the market is a key factor. I guess Reos on the market is not tracked by anyone?

[Author]

Posts