NOD and NOT to Sales Ratios?

[La Jolla Renter]

What is the chance that a new NOD will end up being sold by MLS or at auction?

I have noticed a few pop up in La Jolla and am wondering if these will eventually be sold one way or another.

Anyone research this or have a gut feel?

[temeculaguy]

The numbers are changing, during a boom, very few nod’s end up being foreclosed on because the person not making the payment can just sell or refi. In a flat period or slow appreciation it’s probably 1 in 4 end up not’s or shorts. Alas, we are living in interesting times. What percentage of people upside down will pay cash to keep their credit? 1%? 2%? That’s probably the extent of it. Your only options if you can’t make the payment and are upside down is to let it go NOT or short sell, since the refi option has been taken away, anyone who loses their job or gets plowed over by a resetting arm is 90% likely to go NOT or short, IMO. A scenario rarely seen in history. I think we are at a tipping point with employment starting to take a hit, every layoff is now going to convert into a must sell scenario, finding a credit and sales market unable to absorb it.

[temeculaguy]

The numbers are changing, during a boom, very few nod’s end up being foreclosed on because the person not making the payment can just sell or refi. In a flat period or slow appreciation it’s probably 1 in 4 end up not’s or shorts. Alas, we are living in interesting times. What percentage of people upside down will pay cash to keep their credit? 1%? 2%? That’s probably the extent of it. Your only options if you can’t make the payment and are upside down is to let it go NOT or short sell, since the refi option has been taken away, anyone who loses their job or gets plowed over by a resetting arm is 90% likely to go NOT or short, IMO. A scenario rarely seen in history. I think we are at a tipping point with employment starting to take a hit, every layoff is now going to convert into a must sell scenario, finding a credit and sales market unable to absorb it.

[temeculaguy]

The numbers are changing, during a boom, very few nod’s end up being foreclosed on because the person not making the payment can just sell or refi. In a flat period or slow appreciation it’s probably 1 in 4 end up not’s or shorts. Alas, we are living in interesting times. What percentage of people upside down will pay cash to keep their credit? 1%? 2%? That’s probably the extent of it. Your only options if you can’t make the payment and are upside down is to let it go NOT or short sell, since the refi option has been taken away, anyone who loses their job or gets plowed over by a resetting arm is 90% likely to go NOT or short, IMO. A scenario rarely seen in history. I think we are at a tipping point with employment starting to take a hit, every layoff is now going to convert into a must sell scenario, finding a credit and sales market unable to absorb it.

[temeculaguy]

The numbers are changing, during a boom, very few nod’s end up being foreclosed on because the person not making the payment can just sell or refi. In a flat period or slow appreciation it’s probably 1 in 4 end up not’s or shorts. Alas, we are living in interesting times. What percentage of people upside down will pay cash to keep their credit? 1%? 2%? That’s probably the extent of it. Your only options if you can’t make the payment and are upside down is to let it go NOT or short sell, since the refi option has been taken away, anyone who loses their job or gets plowed over by a resetting arm is 90% likely to go NOT or short, IMO. A scenario rarely seen in history. I think we are at a tipping point with employment starting to take a hit, every layoff is now going to convert into a must sell scenario, finding a credit and sales market unable to absorb it.

[temeculaguy]

The numbers are changing, during a boom, very few nod’s end up being foreclosed on because the person not making the payment can just sell or refi. In a flat period or slow appreciation it’s probably 1 in 4 end up not’s or shorts. Alas, we are living in interesting times. What percentage of people upside down will pay cash to keep their credit? 1%? 2%? That’s probably the extent of it. Your only options if you can’t make the payment and are upside down is to let it go NOT or short sell, since the refi option has been taken away, anyone who loses their job or gets plowed over by a resetting arm is 90% likely to go NOT or short, IMO. A scenario rarely seen in history. I think we are at a tipping point with employment starting to take a hit, every layoff is now going to convert into a must sell scenario, finding a credit and sales market unable to absorb it.

[jpinpb]

TG – as was argued on another thread, there are people out there w/money and I’m sure they shop for houses in LJ.

But MPO, I agree that the percentages are high that homes will go to foreclosure or at least short sale.

[jpinpb]

TG – as was argued on another thread, there are people out there w/money and I’m sure they shop for houses in LJ.

But MPO, I agree that the percentages are high that homes will go to foreclosure or at least short sale.

[jpinpb]

TG – as was argued on another thread, there are people out there w/money and I’m sure they shop for houses in LJ.

But MPO, I agree that the percentages are high that homes will go to foreclosure or at least short sale.

[jpinpb]

TG – as was argued on another thread, there are people out there w/money and I’m sure they shop for houses in LJ.

But MPO, I agree that the percentages are high that homes will go to foreclosure or at least short sale.

[jpinpb]

TG – as was argued on another thread, there are people out there w/money and I’m sure they shop for houses in LJ.

But MPO, I agree that the percentages are high that homes will go to foreclosure or at least short sale.

[patb]

if you are a renter, a layoff won’t hit Default/foreclosure stats.

Now if you are a dual income family and you need both incomes
to support your F^&*ed mortgage a layoff will kill you.

if we have high unemployment i expect home ownership to fall by 20% or more.

[patb]

if you are a renter, a layoff won’t hit Default/foreclosure stats.

Now if you are a dual income family and you need both incomes
to support your F^&*ed mortgage a layoff will kill you.

if we have high unemployment i expect home ownership to fall by 20% or more.

[patb]

if you are a renter, a layoff won’t hit Default/foreclosure stats.

Now if you are a dual income family and you need both incomes
to support your F^&*ed mortgage a layoff will kill you.

if we have high unemployment i expect home ownership to fall by 20% or more.

[patb]

if you are a renter, a layoff won’t hit Default/foreclosure stats.

Now if you are a dual income family and you need both incomes
to support your F^&*ed mortgage a layoff will kill you.

if we have high unemployment i expect home ownership to fall by 20% or more.

[Author]

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