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  • June 21, 2007 at 9:00 AM #9352
    sdrealtor
    Participant

    Too much political grandstanding going on around here lately. Time to give em somethin’ to talk about.

    Every week I get a NOD/NOT/REO report from my title officer. When I get it, I generally look for two key indicators of interest to me. The first is the distressed properties in the markets I follow. Not much has changed here and there is very little activity in them.

    Here is what has changed….and in a BIG BIG way. Since the beginning of this year the NOD report has been between 50 and 75 pages long (FYI-there are 4 properties on each page). Last weeks report went PARABOLIC! It was 144 pages long….gulp! The NOT list also roughly doubled in size. I think the NOD graph is about to start looking like the historical price graph did a few years back.

    June 21, 2007 at 9:17 AM #60961
    Anonymous
    Guest

    NODs up; employment down (see the BLS report on San Diego for May; seasonally adjusted employment is down, now, March to April to May); next week, BEA will release May personal consumption figures, and they will be weak.

    Ain’t paying (NODs up) because they can’t pay (employment down).

    And, more will be added to ‘can’t pay’ as risk premiums return to normal levels (i.e., long-term interest rates move up) and folks lose jobs due to the slow down in consumer spending.

    Maybe folks should substitute cheap chicken for expensive goat for their burnt offerings this evening.

    June 21, 2007 at 9:17 AM #60998
    Anonymous
    Guest

    NODs up; employment down (see the BLS report on San Diego for May; seasonally adjusted employment is down, now, March to April to May); next week, BEA will release May personal consumption figures, and they will be weak.

    Ain’t paying (NODs up) because they can’t pay (employment down).

    And, more will be added to ‘can’t pay’ as risk premiums return to normal levels (i.e., long-term interest rates move up) and folks lose jobs due to the slow down in consumer spending.

    Maybe folks should substitute cheap chicken for expensive goat for their burnt offerings this evening.

    June 21, 2007 at 9:21 AM #60965
    JJGittes
    Participant

    Particularly, what areas/zips have you seen the spike in?

    June 21, 2007 at 9:21 AM #61002
    JJGittes
    Participant

    Particularly, what areas/zips have you seen the spike in?

    June 21, 2007 at 9:26 AM #60967
    PD
    Participant

    Wow, what a jump! I think we will see some serious discounting this fall.

    June 21, 2007 at 9:26 AM #61004
    PD
    Participant

    Wow, what a jump! I think we will see some serious discounting this fall.

    June 21, 2007 at 9:45 AM #60973
    (former)FormerSanDiegan
    Participant

    Wow, what a jump! I think we will see some serious discounting this fall.

    Have to agree. IMO The next 18-28 months is when we’ll see the bulk of the declines for San Diego in this RE cycle.

    June 21, 2007 at 9:45 AM #61010
    (former)FormerSanDiegan
    Participant

    Wow, what a jump! I think we will see some serious discounting this fall.

    Have to agree. IMO The next 18-28 months is when we’ll see the bulk of the declines for San Diego in this RE cycle.

    June 21, 2007 at 9:48 AM #60978
    Alex_angel
    Participant

    Rates going up only means that doc will keep on growing in size. Expect the next one to be at least 200 pages.

    June 21, 2007 at 9:48 AM #61014
    Alex_angel
    Participant

    Rates going up only means that doc will keep on growing in size. Expect the next one to be at least 200 pages.

    June 21, 2007 at 9:51 AM #60981
    sdrealtor
    Participant

    Must have goat for burnt offerings. My pagan god demands that.

    June 21, 2007 at 9:51 AM #61018
    sdrealtor
    Participant

    Must have goat for burnt offerings. My pagan god demands that.

    June 21, 2007 at 10:12 AM #60987
    sdrealtor
    Participant

    JJ,
    All the usual suspects Chula Vista, El Cajon, Spring Valley, Escondido, Oceanside, Vista, San Marcos, Mira Mesa, Old Scripps and La Jolla Village.

    June 21, 2007 at 10:12 AM #61024
    sdrealtor
    Participant

    JJ,
    All the usual suspects Chula Vista, El Cajon, Spring Valley, Escondido, Oceanside, Vista, San Marcos, Mira Mesa, Old Scripps and La Jolla Village.

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