Per this site alone one and a half homes a day will be at the court house steps unless a greater fool steps up. 25 homes to hit steps up to 6/22/07 just 39 days worth. Currently 25 temecula houses are listed. Murrieta has ~30% more and i’m sure the numbers there are not good. Thing is, does this site list them all or just a few? This Recontrust is owned by Countrywide.
foreclosure.com lists 90 NOD’s that listed new during the last 9 days for Murrieta and 35 for Temecula. I ran some S.D. cities for comparison, Carlsbad-11, Oceanside-35, Esco-25, San Marcos-16, Vista-14.
Canary in a coal mine or is it possibly related to that big R.E. scam that involved possibly hundreds of murrieta homes. I thought that the scam was more than a few months ago, you’d think they would be getting close to foreclosure sale by now and not just getting their NOD’s, plus foreclosure.com lists the name of the owner and I didn’t see obvious duplicates. With and average of ten notices of default per day in a city of 90k, how long until there is blood in the streets. I don’t know the percentages of defaults to NOD’s but my guess is that it will close in on half because selling out or refi out just got significantly harder, that’s 5 per day in Murrieta hitting the courthouse steps by the time football season starts. It’s possible the other thread about DR horton in Murrieta slashing prices 20% is the result of someone at DR horton that saw this same info and is trying to get out of town while they can.
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