So, where are all the foreclosures?

[blahblahblah]

It’s not mass collusion — it’s just that putting all of those foreclosures on the market would be financial suicide for them. They know that if the market is flooded with foreclosures, that will push home prices down which will in turn devalue all of their mortgage “assets” which will then mean that they’ve got a lot less money than they think they do. It’s a bad situation.

My guess is that they are waiting to get bailed out; they will battle to see who can become the biggest before they eventually implode because they will all want to be “too big to fail”. When they get bailed out for their losses then they might start unloading them. Or not — perhaps they’ll open new property management wings and just turn them into rentals and enjoy the rental income.

My bottom line take on this situation is that as long as bailout money is being thrown at this situation and as long as the government is involved, it is impossible to determine the real value of these assets. Would you want to buy something that you don’t know the real value of? I wouldn’t…

[Arraya]

Did fannie /freddie start renting yet? I know in my area they converted many of the multi-units to rentals.

[Arraya]

Did fannie /freddie start renting yet? I know in my area they converted many of the multi-units to rentals.

[Arraya]

Did fannie /freddie start renting yet? I know in my area they converted many of the multi-units to rentals.

[Arraya]

Did fannie /freddie start renting yet? I know in my area they converted many of the multi-units to rentals.

[Arraya]

Did fannie /freddie start renting yet? I know in my area they converted many of the multi-units to rentals.

[fun4vnay2]

Here is one forclosure prevented by Bank/Govt:

One of my colleague bought a house for half a million 4 years back and his monthly payment was $4K. With the recent divorce, he was unable to make mortgage payments and for the last 6/7 months he was not making payments hoping to do short sale.
He is a very nice/easy going simple guy but financially irresponsible who likes to drive $40k car with toy like $8K in his driveway.
Last week he told me that, bank did some deal with him taking advantage of bailout, now he is able to keep his house paying just $2k/month for next 30 years which is what he can afford.
I am very happy for my colleague since I like him personally though I know that we all are footing the bill for this bailout.
At the same time, I think I have missed an opportunity to get bail out from govt.
Sometimes, I think I should have bought a million dollar house in 2006 though I cant afford it but anyway I would have been bailed out by bank/govt.
Being over analytical/financial responsible kind of kicked me back.

[fun4vnay2]

Here is one forclosure prevented by Bank/Govt:

One of my colleague bought a house for half a million 4 years back and his monthly payment was $4K. With the recent divorce, he was unable to make mortgage payments and for the last 6/7 months he was not making payments hoping to do short sale.
He is a very nice/easy going simple guy but financially irresponsible who likes to drive $40k car with toy like $8K in his driveway.
Last week he told me that, bank did some deal with him taking advantage of bailout, now he is able to keep his house paying just $2k/month for next 30 years which is what he can afford.
I am very happy for my colleague since I like him personally though I know that we all are footing the bill for this bailout.
At the same time, I think I have missed an opportunity to get bail out from govt.
Sometimes, I think I should have bought a million dollar house in 2006 though I cant afford it but anyway I would have been bailed out by bank/govt.
Being over analytical/financial responsible kind of kicked me back.

[fun4vnay2]

Here is one forclosure prevented by Bank/Govt:

One of my colleague bought a house for half a million 4 years back and his monthly payment was $4K. With the recent divorce, he was unable to make mortgage payments and for the last 6/7 months he was not making payments hoping to do short sale.
He is a very nice/easy going simple guy but financially irresponsible who likes to drive $40k car with toy like $8K in his driveway.
Last week he told me that, bank did some deal with him taking advantage of bailout, now he is able to keep his house paying just $2k/month for next 30 years which is what he can afford.
I am very happy for my colleague since I like him personally though I know that we all are footing the bill for this bailout.
At the same time, I think I have missed an opportunity to get bail out from govt.
Sometimes, I think I should have bought a million dollar house in 2006 though I cant afford it but anyway I would have been bailed out by bank/govt.
Being over analytical/financial responsible kind of kicked me back.

[fun4vnay2]

Here is one forclosure prevented by Bank/Govt:

One of my colleague bought a house for half a million 4 years back and his monthly payment was $4K. With the recent divorce, he was unable to make mortgage payments and for the last 6/7 months he was not making payments hoping to do short sale.
He is a very nice/easy going simple guy but financially irresponsible who likes to drive $40k car with toy like $8K in his driveway.
Last week he told me that, bank did some deal with him taking advantage of bailout, now he is able to keep his house paying just $2k/month for next 30 years which is what he can afford.
I am very happy for my colleague since I like him personally though I know that we all are footing the bill for this bailout.
At the same time, I think I have missed an opportunity to get bail out from govt.
Sometimes, I think I should have bought a million dollar house in 2006 though I cant afford it but anyway I would have been bailed out by bank/govt.
Being over analytical/financial responsible kind of kicked me back.

[fun4vnay2]

Here is one forclosure prevented by Bank/Govt:

One of my colleague bought a house for half a million 4 years back and his monthly payment was $4K. With the recent divorce, he was unable to make mortgage payments and for the last 6/7 months he was not making payments hoping to do short sale.
He is a very nice/easy going simple guy but financially irresponsible who likes to drive $40k car with toy like $8K in his driveway.
Last week he told me that, bank did some deal with him taking advantage of bailout, now he is able to keep his house paying just $2k/month for next 30 years which is what he can afford.
I am very happy for my colleague since I like him personally though I know that we all are footing the bill for this bailout.
At the same time, I think I have missed an opportunity to get bail out from govt.
Sometimes, I think I should have bought a million dollar house in 2006 though I cant afford it but anyway I would have been bailed out by bank/govt.
Being over analytical/financial responsible kind of kicked me back.

[jpinpb]

All I can say is the other day I went through my 10 ZIP codes (92109, 92027, 92110, 92106, 92107, 92103, 92104, 92116, 92122, 92130) of NODs/foreclosures and marked them on SDL.

I didn’t mark condos in all the ZIPs. I didn’t write how many NODs/foreclosures they were, but I’ll say comfortably that 9 out of 10 NODs/foreclosures were not listed for sale, not even attempting to sell, not trying to do a short sale. Nothing.

I’ve been marking NODs/foreclosures on SDL for over a year. Last year about 9 out of 10 were for sale and the one that holding out would eventually list and/or just be taken back by the bank and immediately go to sale.

I am perplexed by the low inventory w/the high NODs. I do not know what to make of it. I wonder if it is intentional. I wonder if the banks just unloaded it M2M and now we will have to wait to see what the private investors do. I wonder if all of them are in the process of loan mods. It’s quite voluminous.

The inventory is 13k something and even if half the NODs in the past three months were listed, we’d be looking at over 15k of listings.

[jpinpb]

All I can say is the other day I went through my 10 ZIP codes (92109, 92027, 92110, 92106, 92107, 92103, 92104, 92116, 92122, 92130) of NODs/foreclosures and marked them on SDL.

I didn’t mark condos in all the ZIPs. I didn’t write how many NODs/foreclosures they were, but I’ll say comfortably that 9 out of 10 NODs/foreclosures were not listed for sale, not even attempting to sell, not trying to do a short sale. Nothing.

I’ve been marking NODs/foreclosures on SDL for over a year. Last year about 9 out of 10 were for sale and the one that holding out would eventually list and/or just be taken back by the bank and immediately go to sale.

I am perplexed by the low inventory w/the high NODs. I do not know what to make of it. I wonder if it is intentional. I wonder if the banks just unloaded it M2M and now we will have to wait to see what the private investors do. I wonder if all of them are in the process of loan mods. It’s quite voluminous.

The inventory is 13k something and even if half the NODs in the past three months were listed, we’d be looking at over 15k of listings.

[jpinpb]

All I can say is the other day I went through my 10 ZIP codes (92109, 92027, 92110, 92106, 92107, 92103, 92104, 92116, 92122, 92130) of NODs/foreclosures and marked them on SDL.

I didn’t mark condos in all the ZIPs. I didn’t write how many NODs/foreclosures they were, but I’ll say comfortably that 9 out of 10 NODs/foreclosures were not listed for sale, not even attempting to sell, not trying to do a short sale. Nothing.

I’ve been marking NODs/foreclosures on SDL for over a year. Last year about 9 out of 10 were for sale and the one that holding out would eventually list and/or just be taken back by the bank and immediately go to sale.

I am perplexed by the low inventory w/the high NODs. I do not know what to make of it. I wonder if it is intentional. I wonder if the banks just unloaded it M2M and now we will have to wait to see what the private investors do. I wonder if all of them are in the process of loan mods. It’s quite voluminous.

The inventory is 13k something and even if half the NODs in the past three months were listed, we’d be looking at over 15k of listings.

[jpinpb]

All I can say is the other day I went through my 10 ZIP codes (92109, 92027, 92110, 92106, 92107, 92103, 92104, 92116, 92122, 92130) of NODs/foreclosures and marked them on SDL.

I didn’t mark condos in all the ZIPs. I didn’t write how many NODs/foreclosures they were, but I’ll say comfortably that 9 out of 10 NODs/foreclosures were not listed for sale, not even attempting to sell, not trying to do a short sale. Nothing.

I’ve been marking NODs/foreclosures on SDL for over a year. Last year about 9 out of 10 were for sale and the one that holding out would eventually list and/or just be taken back by the bank and immediately go to sale.

I am perplexed by the low inventory w/the high NODs. I do not know what to make of it. I wonder if it is intentional. I wonder if the banks just unloaded it M2M and now we will have to wait to see what the private investors do. I wonder if all of them are in the process of loan mods. It’s quite voluminous.

The inventory is 13k something and even if half the NODs in the past three months were listed, we’d be looking at over 15k of listings.

[Author]

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