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North County Jim.
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June 21, 2007 at 10:19 AM #60989June 21, 2007 at 10:19 AM #61026
JJGittes
ParticipantOld Scripps is a surprise. The rest are not.
June 21, 2007 at 10:32 AM #60995sdrealtor
ParticipantThe Old Scripps part was in jest for SD Realtor’s benefit. The LJ Village was in jest for JG, Cyphire and a couple others.
Sorry but prime areas are still holding up very well.
June 21, 2007 at 10:32 AM #61032ParticipantThe Old Scripps part was in jest for SD Realtor’s benefit. The LJ Village was in jest for JG, Cyphire and a couple others.
Sorry but prime areas are still holding up very well.
June 21, 2007 at 10:32 AM #60993no_such_reality
ParticipantI suspect it will get much worse. When the rates were trending flat and people had a chance at a refi, our NOD to NOT rate was bad at 30%+. When the market continuing to soften, rates and loan service requirement tightening, I’m suspecting the NOD to NOT rate will likewise rise.
Now the question is will the banks step up the process on the foreclosure to move them back to REO and for sale status and get them on the market come January or will they languish and get them on the market come next June.
Imagine the potential perfect storm coming for San Diego in the spring. Annual year over year losses in the median, official recession in the economy, 1200+ foreclosures per month hitting the MLS and interest rates above 7% for great credit…
June 21, 2007 at 10:32 AM #61030ParticipantI suspect it will get much worse. When the rates were trending flat and people had a chance at a refi, our NOD to NOT rate was bad at 30%+. When the market continuing to soften, rates and loan service requirement tightening, I’m suspecting the NOD to NOT rate will likewise rise.
Now the question is will the banks step up the process on the foreclosure to move them back to REO and for sale status and get them on the market come January or will they languish and get them on the market come next June.
Imagine the potential perfect storm coming for San Diego in the spring. Annual year over year losses in the median, official recession in the economy, 1200+ foreclosures per month hitting the MLS and interest rates above 7% for great credit…
June 21, 2007 at 10:40 AM #61001ParticipantNSR,
You forgot to add frogs, vermin, boils, pestilence and death of the 1st born son.June 21, 2007 at 10:40 AM #61038ParticipantNSR,
You forgot to add frogs, vermin, boils, pestilence and death of the 1st born son.June 21, 2007 at 10:45 AM #61003ParticipantActually, I wouldn’t be that surprised about weakness in LJ (central) Village area. Lots of posers around there who stretched for 900 sf shacks and townhouses, so they too could be one of the beautiful people.
The oldies up the hill who are prop 13’d in will die in their houses though….probably literally.
Also, I concur about the better areas. In my 92009, 92011 and (northern 92024) stomping grounds, lots of pending signs are popping up on properties that were simply not grossly overpriced.
June 21, 2007 at 10:45 AM #61040ParticipantActually, I wouldn’t be that surprised about weakness in LJ (central) Village area. Lots of posers around there who stretched for 900 sf shacks and townhouses, so they too could be one of the beautiful people.
The oldies up the hill who are prop 13’d in will die in their houses though….probably literally.
Also, I concur about the better areas. In my 92009, 92011 and (northern 92024) stomping grounds, lots of pending signs are popping up on properties that were simply not grossly overpriced.
June 21, 2007 at 10:48 AM #61005North County Jim
ParticipantHere’s some numerical perspective from the last four foreclosure reports from a nameless title company without a firewall.
May 29 Report
201 NODs
190 NOTs
101 REOsJune 5 Report
222 NODs
139 NOTs
32 REOsJune 11 Report
92 NODs
55 NOTs
71 REOsJune 19 Report
699 NODs
333 NOTs
255 REOsOne data point doesn’t qualify as a trend but the latest report is very disturbing.
June 21, 2007 at 10:48 AM #61042ParticipantHere’s some numerical perspective from the last four foreclosure reports from a nameless title company without a firewall.
May 29 Report
201 NODs
190 NOTs
101 REOsJune 5 Report
222 NODs
139 NOTs
32 REOsJune 11 Report
92 NODs
55 NOTs
71 REOsJune 19 Report
699 NODs
333 NOTs
255 REOsOne data point doesn’t qualify as a trend but the latest report is very disturbing.
June 21, 2007 at 10:59 AM #61009ParticipantNC Jim,
That sounds about right. The one thing that jumps out is how low they were 2 weeks ago. Are we just seeing a catch-up week? I guess we’ll find out next week.June 21, 2007 at 10:59 AM #61046ParticipantNC Jim,
That sounds about right. The one thing that jumps out is how low they were 2 weeks ago. Are we just seeing a catch-up week? I guess we’ll find out next week.June 21, 2007 at 12:22 PM #61053PD
ParticipantThat June 19 report was startling.
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