Next San Diego REDC Auction

[nostradamus]

Thanks SD that’s great data. Looks like some people got great-looking prices, others not so great but it’s still progress. Also nice to see there are still housing-related data being posted.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[Author]

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