Just trying to understand some of this data

[DWCAP]

I am not a conspiracy theorist, but doesnt it seem that a listing agent would want to leave REO outa the MLS listing? They are there to sell that property for the maximum possible. Their comissions and the banks $ recovery all depend on them selling fast, and at full price. Anything labeled “REO” is gonna get hit with a -10% off listing offer in this market, if not more. My poor and unMLS accessing memory tells me that this happened even with some of the few nice houses that have come up REO. So shouldnt the bias be to “accidently” not release that info as long as possible?

And dont tell me that agents are following all the rules about disclosure. How many times have you seen a house at 100+ days, or even 200+ days on market get removed from MLS, only to be relisted at 0 days on market the next day and have a note saying “priced to move…. get it before its gone”. Note the list price didnt move a wink and it’s still the same agent. (This is usually used in conjunction with the standard “we are expecting 3 offers tomorrow, so bid now” line. It is kinda hard to use that line if the house has been sitting for 8 months).

So, I guess if I was gonna question data, I would look to where the observed bias and inconstiancies in reporting are first. Especially if multiple independent spot checks of the .com data sets seems to hold up.

[Eugene]

January REO sales correlate with November or earlier NOTs.

Much earlier. There seems to be a 2-3 month delay just bringing NOTs on the market. Per Rich’s data there is a 12 month supply of houses on the market. We’ll be optimistic and say that banks are being aggressive in pricing and REOs sit on the market an average of 4 months before selling. Finally let’s say it takes a month for the sale to close.

Adding all together, January REO sales should correlate with June NOTs.

[Eugene]

January REO sales correlate with November or earlier NOTs.

Much earlier. There seems to be a 2-3 month delay just bringing NOTs on the market. Per Rich’s data there is a 12 month supply of houses on the market. We’ll be optimistic and say that banks are being aggressive in pricing and REOs sit on the market an average of 4 months before selling. Finally let’s say it takes a month for the sale to close.

Adding all together, January REO sales should correlate with June NOTs.

[Eugene]

January REO sales correlate with November or earlier NOTs.

Much earlier. There seems to be a 2-3 month delay just bringing NOTs on the market. Per Rich’s data there is a 12 month supply of houses on the market. We’ll be optimistic and say that banks are being aggressive in pricing and REOs sit on the market an average of 4 months before selling. Finally let’s say it takes a month for the sale to close.

Adding all together, January REO sales should correlate with June NOTs.

[Eugene]

January REO sales correlate with November or earlier NOTs.

Much earlier. There seems to be a 2-3 month delay just bringing NOTs on the market. Per Rich’s data there is a 12 month supply of houses on the market. We’ll be optimistic and say that banks are being aggressive in pricing and REOs sit on the market an average of 4 months before selling. Finally let’s say it takes a month for the sale to close.

Adding all together, January REO sales should correlate with June NOTs.

[Eugene]

January REO sales correlate with November or earlier NOTs.

Much earlier. There seems to be a 2-3 month delay just bringing NOTs on the market. Per Rich’s data there is a 12 month supply of houses on the market. We’ll be optimistic and say that banks are being aggressive in pricing and REOs sit on the market an average of 4 months before selling. Finally let’s say it takes a month for the sale to close.

Adding all together, January REO sales should correlate with June NOTs.

[Bugs]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

That’s one advantage to checking the current ownership on every listing. It’s time consuming, but it does have results.

[Bugs]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

That’s one advantage to checking the current ownership on every listing. It’s time consuming, but it does have results.

[Bugs]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

That’s one advantage to checking the current ownership on every listing. It’s time consuming, but it does have results.

[Bugs]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

That’s one advantage to checking the current ownership on every listing. It’s time consuming, but it does have results.

[Bugs]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

That’s one advantage to checking the current ownership on every listing. It’s time consuming, but it does have results.

[Eugene]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

Sometimes the property is described as “lender owned” (not “bank owned”).

Sometimes the only clue that the property is a REO is a statement like in #071093843

“The seller has never occupied the property and is exempt from supplying the buyer with a tds. This home is being sold in its current as is condition. ”

with variations (#086011794)

“Property sold as is … Seller is disclosure exempt.”

[Eugene]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

Sometimes the property is described as “lender owned” (not “bank owned”).

Sometimes the only clue that the property is a REO is a statement like in #071093843

“The seller has never occupied the property and is exempt from supplying the buyer with a tds. This home is being sold in its current as is condition. ”

with variations (#086011794)

“Property sold as is … Seller is disclosure exempt.”

[Eugene]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

Sometimes the property is described as “lender owned” (not “bank owned”).

Sometimes the only clue that the property is a REO is a statement like in #071093843

“The seller has never occupied the property and is exempt from supplying the buyer with a tds. This home is being sold in its current as is condition. ”

with variations (#086011794)

“Property sold as is … Seller is disclosure exempt.”

[Eugene]

I’ve seen a good number of listings that were REOs but were not advertised that way. Some of those included a clue about a motivated seller, but others didn’t.

Sometimes the property is described as “lender owned” (not “bank owned”).

Sometimes the only clue that the property is a REO is a statement like in #071093843

“The seller has never occupied the property and is exempt from supplying the buyer with a tds. This home is being sold in its current as is condition. ”

with variations (#086011794)

“Property sold as is … Seller is disclosure exempt.”

[Author]

Posts