Foreclosures affecting the market — coming soon to a town near you

[AKguy]

Perry–

I think your assumption that ‘rates continue to move up’ is suspect. If the tsunami you forecast should come to pass, or threaten to, I expect rates to go down as the Fed tries desperately to keep the economy afloat. No one knows the future, but it’s not exactly a perfectly free market out there. Not that lowering rates will keep prices from falling, but it might drag the whole process out.

[SD Realtor]

Okay sdr I will buy the beer…

you buy the bourbon and scotch…

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Bugs I am curious… I have also seen the nomenclature corporate owned.. I do not know what criteria you used in the search to gather your stats, (if you just looked in the remarks field and such) … but your numbers may even grow if you search on that string as well…
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SD Realtor

[SD Realtor]

Okay sdr I will buy the beer…

you buy the bourbon and scotch…

********

Bugs I am curious… I have also seen the nomenclature corporate owned.. I do not know what criteria you used in the search to gather your stats, (if you just looked in the remarks field and such) … but your numbers may even grow if you search on that string as well…
********
SD Realtor

[tangouniform]

My wife just looked at 3(!) mid-300k SFR REOs in a SGV zip east of LA. There’s more of these coming on-line. They’re all trashed, of course (one had “I already miss this house” scrawled on the wall).

REOs are hard to look at when they’re freshly listed. Too many remnants of another family’s desperation to be found on the property.

Curiously, one of the agents is still talking about doing 0 down financing! On a REO!

It’s just starting to get ugly in the areas where the loan sharks cruised the waters, taking the ARMs and legs of Spanish speaking swimmers with wet backs. Those sharks are living large in their SLKs while the foreclosed get to pack the F-150 with what will fit in a 2/1 crap-trap apt.

“Sell now or be priced in forever!” – The anti-NAR quote of the week.

[tangouniform]

My wife just looked at 3(!) mid-300k SFR REOs in a SGV zip east of LA. There’s more of these coming on-line. They’re all trashed, of course (one had “I already miss this house” scrawled on the wall).

REOs are hard to look at when they’re freshly listed. Too many remnants of another family’s desperation to be found on the property.

Curiously, one of the agents is still talking about doing 0 down financing! On a REO!

It’s just starting to get ugly in the areas where the loan sharks cruised the waters, taking the ARMs and legs of Spanish speaking swimmers with wet backs. Those sharks are living large in their SLKs while the foreclosed get to pack the F-150 with what will fit in a 2/1 crap-trap apt.

“Sell now or be priced in forever!” – The anti-NAR quote of the week.

[Author]

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