Impact of foreclosure in prices

[powayseller]

Oh, sorry, I didn’t mean any harm. This is all public information. It’s printed in the newspapers, and is on foreclosure.com. I must admit, I’ve wondered why most of you use xxx in the addresses. I find the xxx thing less clear, and prefer to just list the information that is already publicly available. I am not giving away anything confidential. I will go with the consensus on this one, though. Anybody else?

I noticed that most foreclosres in Poway are not listed on the MLS. I can only surmise that the homeowners are hoping to come up with the cash to avoid foreclosure.

[waiting hawk]

It’s all public info. Price to pay for being an F’B.

[sdrealtor]

Hawk,
This site is the least of their worries. It just looks bad to post it.

PS,
Thanx, I just think its better that way.

[powayseller]

Alright, no more names. But full addresses for clarity.

[CardiffBaseball]

PS,

Is that 9.95 per month (foreclosure.com) worth it in your mind? I am tracking Cardiff, and it looks like this might be a useful tool.

[powayseller]

Yes. It’s part real estate research, part snooping. I actually know several of the Poway families who are in preforeclosure, and it was eye opening that families who’d lived in their homes since the 1980s, in very good neighborhoods, had spent the equity out of their homes. As a subscriber to realtytrac.com, I could see the deed and loan history of the properties back to the 1980s.

Foreclosure.com however does not give you the lien history, but updates the NOD to Inactive status when it is paid up.

[CardiffBaseball]

OK I had started that other thread on what sites to use to track a market, but it appears you answered one question and that is realtytrac in terms of finding out historical info on housing.

[JES]

Why the focus on whether a home sells for less than the last purchase price? Sure, this may be an indication that the buyer is in trouble, but the same could be true if equity loans were taken out right up to the current comp value, like so many people are doing these days. And to prove that the market is falling we need to look at recent comps, and clearly there are huge drops going on right now. I know of a home in San Marcos, 92078, that was for sale for 825-845k, and the most recent comps were 810k and 860k. An offer came in back in September for 805k and they declined out of greed. They listed again after the holidays, and waitied, waited, reduced the price, and waited. In March they closed at 710k, over 100k less than the lower end of their original price! Another home on the same street has been listed for over 1 year…it started at 685k, sat for 6 months, then they tried unsucessfully to rent it for 5 months. They listed it again for 660k and it sat. Then they lowered it and it is finally in escrow for approx 580k, 100k less than their original asking price!

[sdrealtor]

The reason you focus on a particular home is that everyone is unique and arguements can be made for different (higher or lower) prices. With the same house you cant make that argument.

[Author]

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