Just trying to understand some of this data

[temeculaguy]

This is a small sample confined to a particular area but may shore up foreclosure.com’s data. I am a cheap and arrogant bastard. This combination wont allow me to pay the subscription fee for foreclosure.com (which would cut into my porn website subscription budget) and the arrogance makes me think I can outsmart them. They give you a zestimate on the foreclosure page and a name on the preforeclosure page (they keep them there for a bit as inactive once they are foreclosures), I track both, use the gis and property tax website for the county to figure out the address using the name (tedious because you have to run all the apn’s on the street, for big streets I jog by and look for brown lawns). Then I run a grantee search online to verify the nod and not, then run the name in the newspaper legal classifieds to see the actual notice for the N.O.T. and get the debt amount. I have run about a hundred and all of them have fleshed out to be accurate. Furthermore I have found at least a dozen that never went into the MLS but some got for sale signs from out of county real estate offices and I have verified that they have sold to private paties that way, never going into the mls and selling for very low prices, almost making me angry that they didn’t go into the MLS. Conversely I have never found them on the MLS without first seeing them on foreclosure.com.

This is confined to a single zip code but may explain the data anamoly, my conclusion is the mls data is faulty, not foreclosure’s.

I can only offer my small sample tracked for about a year, I would do the sample in another area to verify my results but that would qualify as an obsessive compulsive disorder, for now I can justify my insanity and I hear that the meds have terrible side effects.

[SD Realtor]

Guys these are good explanations and may indeed help me shore up the data which was really the intent of the post. Late tonite, as that is when I am pretty much confined to longer postings, is when I will look into it. Hopefully more people can throw some ideas into the mix.

SD Realtor

[SD Realtor]

Guys these are good explanations and may indeed help me shore up the data which was really the intent of the post. Late tonite, as that is when I am pretty much confined to longer postings, is when I will look into it. Hopefully more people can throw some ideas into the mix.

SD Realtor

[SD Realtor]

Guys these are good explanations and may indeed help me shore up the data which was really the intent of the post. Late tonite, as that is when I am pretty much confined to longer postings, is when I will look into it. Hopefully more people can throw some ideas into the mix.

SD Realtor

[SD Realtor]

Guys these are good explanations and may indeed help me shore up the data which was really the intent of the post. Late tonite, as that is when I am pretty much confined to longer postings, is when I will look into it. Hopefully more people can throw some ideas into the mix.

SD Realtor

[SD Realtor]

Guys these are good explanations and may indeed help me shore up the data which was really the intent of the post. Late tonite, as that is when I am pretty much confined to longer postings, is when I will look into it. Hopefully more people can throw some ideas into the mix.

SD Realtor

[jpinpb]

Well, this begs the question. Why would you not list it in the MLS? If you are selling a place in a market that’s – being kind – sluggish, why would you limit yourself to anyone going by and seeing a sign? What if you live out of state, for example, moving here from No. Calif. You’re not jogging by and seeing a sign. I would think you’d want to get as much exposure as possible and sell the place quickly. This makes no sense to me at all. What the hey!

I’m really just wondering how any banks stay in business. First they give money away to anyone w/a popsicle stand. Then they let people live there for free for a year, then they don’t reduce the price of a home that’s foreclosed, don’t quickly accept offers that are reasonable and now you say they don’t list them in the MLS.

I try to learn and I get more confused. I feel like Spock right now.

[jpinpb]

Well, this begs the question. Why would you not list it in the MLS? If you are selling a place in a market that’s – being kind – sluggish, why would you limit yourself to anyone going by and seeing a sign? What if you live out of state, for example, moving here from No. Calif. You’re not jogging by and seeing a sign. I would think you’d want to get as much exposure as possible and sell the place quickly. This makes no sense to me at all. What the hey!

I’m really just wondering how any banks stay in business. First they give money away to anyone w/a popsicle stand. Then they let people live there for free for a year, then they don’t reduce the price of a home that’s foreclosed, don’t quickly accept offers that are reasonable and now you say they don’t list them in the MLS.

I try to learn and I get more confused. I feel like Spock right now.

[jpinpb]

Well, this begs the question. Why would you not list it in the MLS? If you are selling a place in a market that’s – being kind – sluggish, why would you limit yourself to anyone going by and seeing a sign? What if you live out of state, for example, moving here from No. Calif. You’re not jogging by and seeing a sign. I would think you’d want to get as much exposure as possible and sell the place quickly. This makes no sense to me at all. What the hey!

I’m really just wondering how any banks stay in business. First they give money away to anyone w/a popsicle stand. Then they let people live there for free for a year, then they don’t reduce the price of a home that’s foreclosed, don’t quickly accept offers that are reasonable and now you say they don’t list them in the MLS.

I try to learn and I get more confused. I feel like Spock right now.

[jpinpb]

Well, this begs the question. Why would you not list it in the MLS? If you are selling a place in a market that’s – being kind – sluggish, why would you limit yourself to anyone going by and seeing a sign? What if you live out of state, for example, moving here from No. Calif. You’re not jogging by and seeing a sign. I would think you’d want to get as much exposure as possible and sell the place quickly. This makes no sense to me at all. What the hey!

I’m really just wondering how any banks stay in business. First they give money away to anyone w/a popsicle stand. Then they let people live there for free for a year, then they don’t reduce the price of a home that’s foreclosed, don’t quickly accept offers that are reasonable and now you say they don’t list them in the MLS.

I try to learn and I get more confused. I feel like Spock right now.

[jpinpb]

Well, this begs the question. Why would you not list it in the MLS? If you are selling a place in a market that’s – being kind – sluggish, why would you limit yourself to anyone going by and seeing a sign? What if you live out of state, for example, moving here from No. Calif. You’re not jogging by and seeing a sign. I would think you’d want to get as much exposure as possible and sell the place quickly. This makes no sense to me at all. What the hey!

I’m really just wondering how any banks stay in business. First they give money away to anyone w/a popsicle stand. Then they let people live there for free for a year, then they don’t reduce the price of a home that’s foreclosed, don’t quickly accept offers that are reasonable and now you say they don’t list them in the MLS.

I try to learn and I get more confused. I feel like Spock right now.

[Rich Toscano]

Hi Adam — I always appreciate if someone wants to dig into the data better, but I’m not quite sure I understand the issue here because the disparity you cite seems pretty explainable.

One answer is that a disproportionate number of foreclosures are in the low end areas, and a disproportionate number of sales in the high end areas — so it makes sense that the number of total REOs sitting there per total sales would be lower than the number of SOLD REOs vs sales (ie, more REO inventory is stacking up).

Another answer if I’m understanding is that you are tracking closed REO sales, while I am tracking recorded NODs and NOTs. The lag time between an NOT and REO closing is probably 2 months bare minimum (3 wks to get from NOT to REO, another month or more to close the sale), and probably a lot longer with that. With NOD it’s far longer than that by many months.

RE. the data sources: I’m not sure what foreclosure.com is. I get the data from the San Diego Daily Transcript, who gets it from the country recorder’s office. I used foreclosureforum.com for the historical data (since they had it in tabular format) but extensively spot checked and found a 100% accuracy rate between foreclosureforum.com and the Transcript. So since both sites are independently getting this from the country, I’m pretty sure they are reporting what they get from the county correctly. I don’t have any explanation for why the county numbers would be different from your title database.

Rich

[Rich Toscano]

Hi Adam — I always appreciate if someone wants to dig into the data better, but I’m not quite sure I understand the issue here because the disparity you cite seems pretty explainable.

One answer is that a disproportionate number of foreclosures are in the low end areas, and a disproportionate number of sales in the high end areas — so it makes sense that the number of total REOs sitting there per total sales would be lower than the number of SOLD REOs vs sales (ie, more REO inventory is stacking up).

Another answer if I’m understanding is that you are tracking closed REO sales, while I am tracking recorded NODs and NOTs. The lag time between an NOT and REO closing is probably 2 months bare minimum (3 wks to get from NOT to REO, another month or more to close the sale), and probably a lot longer with that. With NOD it’s far longer than that by many months.

RE. the data sources: I’m not sure what foreclosure.com is. I get the data from the San Diego Daily Transcript, who gets it from the country recorder’s office. I used foreclosureforum.com for the historical data (since they had it in tabular format) but extensively spot checked and found a 100% accuracy rate between foreclosureforum.com and the Transcript. So since both sites are independently getting this from the country, I’m pretty sure they are reporting what they get from the county correctly. I don’t have any explanation for why the county numbers would be different from your title database.

Rich

[Rich Toscano]

Hi Adam — I always appreciate if someone wants to dig into the data better, but I’m not quite sure I understand the issue here because the disparity you cite seems pretty explainable.

One answer is that a disproportionate number of foreclosures are in the low end areas, and a disproportionate number of sales in the high end areas — so it makes sense that the number of total REOs sitting there per total sales would be lower than the number of SOLD REOs vs sales (ie, more REO inventory is stacking up).

Another answer if I’m understanding is that you are tracking closed REO sales, while I am tracking recorded NODs and NOTs. The lag time between an NOT and REO closing is probably 2 months bare minimum (3 wks to get from NOT to REO, another month or more to close the sale), and probably a lot longer with that. With NOD it’s far longer than that by many months.

RE. the data sources: I’m not sure what foreclosure.com is. I get the data from the San Diego Daily Transcript, who gets it from the country recorder’s office. I used foreclosureforum.com for the historical data (since they had it in tabular format) but extensively spot checked and found a 100% accuracy rate between foreclosureforum.com and the Transcript. So since both sites are independently getting this from the country, I’m pretty sure they are reporting what they get from the county correctly. I don’t have any explanation for why the county numbers would be different from your title database.

Rich

[Rich Toscano]

Hi Adam — I always appreciate if someone wants to dig into the data better, but I’m not quite sure I understand the issue here because the disparity you cite seems pretty explainable.

One answer is that a disproportionate number of foreclosures are in the low end areas, and a disproportionate number of sales in the high end areas — so it makes sense that the number of total REOs sitting there per total sales would be lower than the number of SOLD REOs vs sales (ie, more REO inventory is stacking up).

Another answer if I’m understanding is that you are tracking closed REO sales, while I am tracking recorded NODs and NOTs. The lag time between an NOT and REO closing is probably 2 months bare minimum (3 wks to get from NOT to REO, another month or more to close the sale), and probably a lot longer with that. With NOD it’s far longer than that by many months.

RE. the data sources: I’m not sure what foreclosure.com is. I get the data from the San Diego Daily Transcript, who gets it from the country recorder’s office. I used foreclosureforum.com for the historical data (since they had it in tabular format) but extensively spot checked and found a 100% accuracy rate between foreclosureforum.com and the Transcript. So since both sites are independently getting this from the country, I’m pretty sure they are reporting what they get from the county correctly. I don’t have any explanation for why the county numbers would be different from your title database.

Rich

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