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May 13, 2008 at 11:32 PM #203825May 14, 2008 at 12:20 AM #203792EugeneParticipant
If I go to http://www.realtytrac.com and put in the zip codes for some of the harder hit areas, there seems to be more bank owned properties out there than total inventory listed on the MLS.
http://www.realtytrac.com does not limit results to the zip code you enter. If you type in 91977, it will show you every REO in Spring Valley, Bonita, Lemon Grove, and La Mesa. If you type in 92014 (Del Mar), it will show you REOs from Solana Beach and Mira Mesa.
May 14, 2008 at 12:20 AM #203874EugeneParticipantIf I go to http://www.realtytrac.com and put in the zip codes for some of the harder hit areas, there seems to be more bank owned properties out there than total inventory listed on the MLS.
http://www.realtytrac.com does not limit results to the zip code you enter. If you type in 91977, it will show you every REO in Spring Valley, Bonita, Lemon Grove, and La Mesa. If you type in 92014 (Del Mar), it will show you REOs from Solana Beach and Mira Mesa.
May 14, 2008 at 12:20 AM #203840EugeneParticipantIf I go to http://www.realtytrac.com and put in the zip codes for some of the harder hit areas, there seems to be more bank owned properties out there than total inventory listed on the MLS.
http://www.realtytrac.com does not limit results to the zip code you enter. If you type in 91977, it will show you every REO in Spring Valley, Bonita, Lemon Grove, and La Mesa. If you type in 92014 (Del Mar), it will show you REOs from Solana Beach and Mira Mesa.
May 14, 2008 at 12:20 AM #203740EugeneParticipantIf I go to http://www.realtytrac.com and put in the zip codes for some of the harder hit areas, there seems to be more bank owned properties out there than total inventory listed on the MLS.
http://www.realtytrac.com does not limit results to the zip code you enter. If you type in 91977, it will show you every REO in Spring Valley, Bonita, Lemon Grove, and La Mesa. If you type in 92014 (Del Mar), it will show you REOs from Solana Beach and Mira Mesa.
May 14, 2008 at 12:20 AM #203818EugeneParticipantIf I go to http://www.realtytrac.com and put in the zip codes for some of the harder hit areas, there seems to be more bank owned properties out there than total inventory listed on the MLS.
http://www.realtytrac.com does not limit results to the zip code you enter. If you type in 91977, it will show you every REO in Spring Valley, Bonita, Lemon Grove, and La Mesa. If you type in 92014 (Del Mar), it will show you REOs from Solana Beach and Mira Mesa.
May 14, 2008 at 1:35 AM #203765garysearsParticipantTotal El Cajon MLS (according to ziprealty): 954
Total El Cajon REO and Auction (realtytrac): 764
If you include NODs (realtytrac): 1263If you use the map search function on realtytrac to zoom out and recenter so only what appear to be San Diego county is included (Poway is north limit, Alpine is east limit):
REO and Auction properties: ~ 13,300
Including NODs: ~ 28,500It looks to me like there are several months of inventory at current sales rates if you only include the REOs. Am I missing something?
For some reason I can’t get foreclosureradar.com search function to work right now but it lists properties by zipcode. You should easily be able to crosscheck those numbers against the MLS.
It would be interesting to track REO/Auction and NODs vs MLS for different zip codes. I think that for Spring Valley and Encanto it is possible the total MLS inventory is about the same as REO and Auction inventory. The distressed and “wish I could sell” inventory has to be just staggering.
“Wish I could sell” and “If I can sell” is starting to be a phrase I’m hearing at work.
May 14, 2008 at 1:35 AM #203843garysearsParticipantTotal El Cajon MLS (according to ziprealty): 954
Total El Cajon REO and Auction (realtytrac): 764
If you include NODs (realtytrac): 1263If you use the map search function on realtytrac to zoom out and recenter so only what appear to be San Diego county is included (Poway is north limit, Alpine is east limit):
REO and Auction properties: ~ 13,300
Including NODs: ~ 28,500It looks to me like there are several months of inventory at current sales rates if you only include the REOs. Am I missing something?
For some reason I can’t get foreclosureradar.com search function to work right now but it lists properties by zipcode. You should easily be able to crosscheck those numbers against the MLS.
It would be interesting to track REO/Auction and NODs vs MLS for different zip codes. I think that for Spring Valley and Encanto it is possible the total MLS inventory is about the same as REO and Auction inventory. The distressed and “wish I could sell” inventory has to be just staggering.
“Wish I could sell” and “If I can sell” is starting to be a phrase I’m hearing at work.
May 14, 2008 at 1:35 AM #203817garysearsParticipantTotal El Cajon MLS (according to ziprealty): 954
Total El Cajon REO and Auction (realtytrac): 764
If you include NODs (realtytrac): 1263If you use the map search function on realtytrac to zoom out and recenter so only what appear to be San Diego county is included (Poway is north limit, Alpine is east limit):
REO and Auction properties: ~ 13,300
Including NODs: ~ 28,500It looks to me like there are several months of inventory at current sales rates if you only include the REOs. Am I missing something?
For some reason I can’t get foreclosureradar.com search function to work right now but it lists properties by zipcode. You should easily be able to crosscheck those numbers against the MLS.
It would be interesting to track REO/Auction and NODs vs MLS for different zip codes. I think that for Spring Valley and Encanto it is possible the total MLS inventory is about the same as REO and Auction inventory. The distressed and “wish I could sell” inventory has to be just staggering.
“Wish I could sell” and “If I can sell” is starting to be a phrase I’m hearing at work.
May 14, 2008 at 1:35 AM #203899garysearsParticipantTotal El Cajon MLS (according to ziprealty): 954
Total El Cajon REO and Auction (realtytrac): 764
If you include NODs (realtytrac): 1263If you use the map search function on realtytrac to zoom out and recenter so only what appear to be San Diego county is included (Poway is north limit, Alpine is east limit):
REO and Auction properties: ~ 13,300
Including NODs: ~ 28,500It looks to me like there are several months of inventory at current sales rates if you only include the REOs. Am I missing something?
For some reason I can’t get foreclosureradar.com search function to work right now but it lists properties by zipcode. You should easily be able to crosscheck those numbers against the MLS.
It would be interesting to track REO/Auction and NODs vs MLS for different zip codes. I think that for Spring Valley and Encanto it is possible the total MLS inventory is about the same as REO and Auction inventory. The distressed and “wish I could sell” inventory has to be just staggering.
“Wish I could sell” and “If I can sell” is starting to be a phrase I’m hearing at work.
May 14, 2008 at 1:35 AM #203866garysearsParticipantTotal El Cajon MLS (according to ziprealty): 954
Total El Cajon REO and Auction (realtytrac): 764
If you include NODs (realtytrac): 1263If you use the map search function on realtytrac to zoom out and recenter so only what appear to be San Diego county is included (Poway is north limit, Alpine is east limit):
REO and Auction properties: ~ 13,300
Including NODs: ~ 28,500It looks to me like there are several months of inventory at current sales rates if you only include the REOs. Am I missing something?
For some reason I can’t get foreclosureradar.com search function to work right now but it lists properties by zipcode. You should easily be able to crosscheck those numbers against the MLS.
It would be interesting to track REO/Auction and NODs vs MLS for different zip codes. I think that for Spring Valley and Encanto it is possible the total MLS inventory is about the same as REO and Auction inventory. The distressed and “wish I could sell” inventory has to be just staggering.
“Wish I could sell” and “If I can sell” is starting to be a phrase I’m hearing at work.
May 14, 2008 at 3:13 AM #203881CA renterParticipantMaybe lenders are holding off on foreclosures because Barney Frank threatened them (with regulation?? Ack!) if they didn’t “pause” foreclosures:
House Financial Services Committee Chairman Barney Frank (D-MA) waved a bit of a stick in the face of loan servicers, saying that “Servicers should put a pause in some foreclosures until they can wait to see exact details of this as it moves forward. If after this we continue to get very little participation by services, I can guarantee you that the servicer industry will look very different a year from now than they do today. If after everything we do in this cooperative way falls short, then you are going to see legislation that puts some very real restrictions on the role of servicers and give many more rights to the borrowers.”
http://www.mortgagenewsdaily.com/522008_FHA_Short_Pay_Loans.asp
May 14, 2008 at 3:13 AM #203914CA renterParticipantMaybe lenders are holding off on foreclosures because Barney Frank threatened them (with regulation?? Ack!) if they didn’t “pause” foreclosures:
House Financial Services Committee Chairman Barney Frank (D-MA) waved a bit of a stick in the face of loan servicers, saying that “Servicers should put a pause in some foreclosures until they can wait to see exact details of this as it moves forward. If after this we continue to get very little participation by services, I can guarantee you that the servicer industry will look very different a year from now than they do today. If after everything we do in this cooperative way falls short, then you are going to see legislation that puts some very real restrictions on the role of servicers and give many more rights to the borrowers.”
http://www.mortgagenewsdaily.com/522008_FHA_Short_Pay_Loans.asp
May 14, 2008 at 3:13 AM #203832CA renterParticipantMaybe lenders are holding off on foreclosures because Barney Frank threatened them (with regulation?? Ack!) if they didn’t “pause” foreclosures:
House Financial Services Committee Chairman Barney Frank (D-MA) waved a bit of a stick in the face of loan servicers, saying that “Servicers should put a pause in some foreclosures until they can wait to see exact details of this as it moves forward. If after this we continue to get very little participation by services, I can guarantee you that the servicer industry will look very different a year from now than they do today. If after everything we do in this cooperative way falls short, then you are going to see legislation that puts some very real restrictions on the role of servicers and give many more rights to the borrowers.”
http://www.mortgagenewsdaily.com/522008_FHA_Short_Pay_Loans.asp
May 14, 2008 at 3:13 AM #203781CA renterParticipantMaybe lenders are holding off on foreclosures because Barney Frank threatened them (with regulation?? Ack!) if they didn’t “pause” foreclosures:
House Financial Services Committee Chairman Barney Frank (D-MA) waved a bit of a stick in the face of loan servicers, saying that “Servicers should put a pause in some foreclosures until they can wait to see exact details of this as it moves forward. If after this we continue to get very little participation by services, I can guarantee you that the servicer industry will look very different a year from now than they do today. If after everything we do in this cooperative way falls short, then you are going to see legislation that puts some very real restrictions on the role of servicers and give many more rights to the borrowers.”
http://www.mortgagenewsdaily.com/522008_FHA_Short_Pay_Loans.asp
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