So, where are all the foreclosures?

[blahblahblah]

CONCHO – if rents are declining and/or expected to decline, how will it benefit any investor to flood the market w/rentals? Is that already happening and maybe explaining why rents have declined some?

I think they will do it slowly like they are handling their sales, they won’t flood the market. Also if they get enough bailout money then the rents are just gravy; they might not like it if oversupply pushed rents down temporarily because they keep those assets until it makes sense to sell them later. The bailout money will give the holders of these toxic doo-doo mortgage assets heavily discounted properties to do with as they wish. They might sell some, they might rent some, who knows what they’ll do. One thing is certain — bailout money will remove the pressure on them, at least temporarily, so that they can avoid taking drastic measures. Of course little guys like you and me are hoping that they’ll be forced to, but then again, the laws are not made for little guys.

[SD Realtor]

Concho I couldn’t agree more with your post. PR the only “miscalculation” if there were any by the big boys was the pick and choose attitude of the government at the end of the Bush days. The sacrificial lambs that were thrown to the wolves certainly did not anticipate they would be tossed but it is an odds game right? Certainly you are correct that there were miscalculations with the speed of how fast some things happened.

Yet, in the end it is playing out how they wanted right? The only question that really needed to be answered was how the programs would be rolled out. As we know the money being rolled out behind the scenes dwarfs the public programs we are familiar with.

I tell you what though, I am not saying they are out of the woods yet, but the government has done exactly what they wanted. Now what they need to pray for is that the unemployment picture will not continue to push people into default.

For us Piggs hoping for more drops, this is what we really need.

[SD Realtor]

Concho I couldn’t agree more with your post. PR the only “miscalculation” if there were any by the big boys was the pick and choose attitude of the government at the end of the Bush days. The sacrificial lambs that were thrown to the wolves certainly did not anticipate they would be tossed but it is an odds game right? Certainly you are correct that there were miscalculations with the speed of how fast some things happened.

Yet, in the end it is playing out how they wanted right? The only question that really needed to be answered was how the programs would be rolled out. As we know the money being rolled out behind the scenes dwarfs the public programs we are familiar with.

I tell you what though, I am not saying they are out of the woods yet, but the government has done exactly what they wanted. Now what they need to pray for is that the unemployment picture will not continue to push people into default.

For us Piggs hoping for more drops, this is what we really need.

[SD Realtor]

Concho I couldn’t agree more with your post. PR the only “miscalculation” if there were any by the big boys was the pick and choose attitude of the government at the end of the Bush days. The sacrificial lambs that were thrown to the wolves certainly did not anticipate they would be tossed but it is an odds game right? Certainly you are correct that there were miscalculations with the speed of how fast some things happened.

Yet, in the end it is playing out how they wanted right? The only question that really needed to be answered was how the programs would be rolled out. As we know the money being rolled out behind the scenes dwarfs the public programs we are familiar with.

I tell you what though, I am not saying they are out of the woods yet, but the government has done exactly what they wanted. Now what they need to pray for is that the unemployment picture will not continue to push people into default.

For us Piggs hoping for more drops, this is what we really need.

[SD Realtor]

Concho I couldn’t agree more with your post. PR the only “miscalculation” if there were any by the big boys was the pick and choose attitude of the government at the end of the Bush days. The sacrificial lambs that were thrown to the wolves certainly did not anticipate they would be tossed but it is an odds game right? Certainly you are correct that there were miscalculations with the speed of how fast some things happened.

Yet, in the end it is playing out how they wanted right? The only question that really needed to be answered was how the programs would be rolled out. As we know the money being rolled out behind the scenes dwarfs the public programs we are familiar with.

I tell you what though, I am not saying they are out of the woods yet, but the government has done exactly what they wanted. Now what they need to pray for is that the unemployment picture will not continue to push people into default.

For us Piggs hoping for more drops, this is what we really need.

[SD Realtor]

Concho I couldn’t agree more with your post. PR the only “miscalculation” if there were any by the big boys was the pick and choose attitude of the government at the end of the Bush days. The sacrificial lambs that were thrown to the wolves certainly did not anticipate they would be tossed but it is an odds game right? Certainly you are correct that there were miscalculations with the speed of how fast some things happened.

Yet, in the end it is playing out how they wanted right? The only question that really needed to be answered was how the programs would be rolled out. As we know the money being rolled out behind the scenes dwarfs the public programs we are familiar with.

I tell you what though, I am not saying they are out of the woods yet, but the government has done exactly what they wanted. Now what they need to pray for is that the unemployment picture will not continue to push people into default.

For us Piggs hoping for more drops, this is what we really need.

[danthedart]

You really think logistics is the problem? I think its all the foreclosure moratoriums. In summer 2008 they were cranking out REOs at a fairly brisk pace or at least MUCH faster than they’re doing it now. This makes me think:

1) They did not have a premeditated plan before the bust to hold back foreclosures. They may have come up with this plan in the last 6 months, but not before last summer.

2) Logistics are not playing a part in getting the REOs on the market. They were able to do it logistically in summer 2008, they should be able to logistically do it now.

[danthedart]

You really think logistics is the problem? I think its all the foreclosure moratoriums. In summer 2008 they were cranking out REOs at a fairly brisk pace or at least MUCH faster than they’re doing it now. This makes me think:

1) They did not have a premeditated plan before the bust to hold back foreclosures. They may have come up with this plan in the last 6 months, but not before last summer.

2) Logistics are not playing a part in getting the REOs on the market. They were able to do it logistically in summer 2008, they should be able to logistically do it now.

[danthedart]

You really think logistics is the problem? I think its all the foreclosure moratoriums. In summer 2008 they were cranking out REOs at a fairly brisk pace or at least MUCH faster than they’re doing it now. This makes me think:

1) They did not have a premeditated plan before the bust to hold back foreclosures. They may have come up with this plan in the last 6 months, but not before last summer.

2) Logistics are not playing a part in getting the REOs on the market. They were able to do it logistically in summer 2008, they should be able to logistically do it now.

[danthedart]

You really think logistics is the problem? I think its all the foreclosure moratoriums. In summer 2008 they were cranking out REOs at a fairly brisk pace or at least MUCH faster than they’re doing it now. This makes me think:

1) They did not have a premeditated plan before the bust to hold back foreclosures. They may have come up with this plan in the last 6 months, but not before last summer.

2) Logistics are not playing a part in getting the REOs on the market. They were able to do it logistically in summer 2008, they should be able to logistically do it now.

[danthedart]

You really think logistics is the problem? I think its all the foreclosure moratoriums. In summer 2008 they were cranking out REOs at a fairly brisk pace or at least MUCH faster than they’re doing it now. This makes me think:

1) They did not have a premeditated plan before the bust to hold back foreclosures. They may have come up with this plan in the last 6 months, but not before last summer.

2) Logistics are not playing a part in getting the REOs on the market. They were able to do it logistically in summer 2008, they should be able to logistically do it now.

[jpinpb]

danthedart – it took them a long time to get it on the market in the summer of 2008. I remember seeing places w/NODs from the end of 2007 that didn’t get foreclosed upon until the summer of 2008. They have dragged this out for a very long time.

The only properties I’ve seen go from NOD to foreclosure in 3 months are the for certain investor properties, NODs getting mailed to a different address than the property receiving the NOD. The property does not get listed. They don’t attempt a short sale. W/in 3 months, the bank just takes it back.

Those were not very many. Most were trying to do short sales and the process was dragged out. Then the moratoriums, then the holidays. And here we are.

[jpinpb]

danthedart – it took them a long time to get it on the market in the summer of 2008. I remember seeing places w/NODs from the end of 2007 that didn’t get foreclosed upon until the summer of 2008. They have dragged this out for a very long time.

The only properties I’ve seen go from NOD to foreclosure in 3 months are the for certain investor properties, NODs getting mailed to a different address than the property receiving the NOD. The property does not get listed. They don’t attempt a short sale. W/in 3 months, the bank just takes it back.

Those were not very many. Most were trying to do short sales and the process was dragged out. Then the moratoriums, then the holidays. And here we are.

[jpinpb]

danthedart – it took them a long time to get it on the market in the summer of 2008. I remember seeing places w/NODs from the end of 2007 that didn’t get foreclosed upon until the summer of 2008. They have dragged this out for a very long time.

The only properties I’ve seen go from NOD to foreclosure in 3 months are the for certain investor properties, NODs getting mailed to a different address than the property receiving the NOD. The property does not get listed. They don’t attempt a short sale. W/in 3 months, the bank just takes it back.

Those were not very many. Most were trying to do short sales and the process was dragged out. Then the moratoriums, then the holidays. And here we are.

[jpinpb]

danthedart – it took them a long time to get it on the market in the summer of 2008. I remember seeing places w/NODs from the end of 2007 that didn’t get foreclosed upon until the summer of 2008. They have dragged this out for a very long time.

The only properties I’ve seen go from NOD to foreclosure in 3 months are the for certain investor properties, NODs getting mailed to a different address than the property receiving the NOD. The property does not get listed. They don’t attempt a short sale. W/in 3 months, the bank just takes it back.

Those were not very many. Most were trying to do short sales and the process was dragged out. Then the moratoriums, then the holidays. And here we are.

[Author]

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