- This topic has 175 replies, 19 voices, and was last updated 16 years, 9 months ago by kewp.
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January 3, 2008 at 5:17 PM #128999January 3, 2008 at 5:34 PM #128731HereWeGoParticipant
Actually that looks like the total number of vacant homes, rather than the total number of bank-owned vacant homes. Obviously the vast majority are not for sale. A further breakdown of that 17.9 million inventory would be needed to really assess the situation (how many owned free and clear, how many REO, etc.)
Still, it’s a heck of a lot easier to decide to sell a vacant home than the home you occupy.
January 3, 2008 at 5:34 PM #128897HereWeGoParticipantActually that looks like the total number of vacant homes, rather than the total number of bank-owned vacant homes. Obviously the vast majority are not for sale. A further breakdown of that 17.9 million inventory would be needed to really assess the situation (how many owned free and clear, how many REO, etc.)
Still, it’s a heck of a lot easier to decide to sell a vacant home than the home you occupy.
January 3, 2008 at 5:34 PM #128906HereWeGoParticipantActually that looks like the total number of vacant homes, rather than the total number of bank-owned vacant homes. Obviously the vast majority are not for sale. A further breakdown of that 17.9 million inventory would be needed to really assess the situation (how many owned free and clear, how many REO, etc.)
Still, it’s a heck of a lot easier to decide to sell a vacant home than the home you occupy.
January 3, 2008 at 5:34 PM #128975HereWeGoParticipantActually that looks like the total number of vacant homes, rather than the total number of bank-owned vacant homes. Obviously the vast majority are not for sale. A further breakdown of that 17.9 million inventory would be needed to really assess the situation (how many owned free and clear, how many REO, etc.)
Still, it’s a heck of a lot easier to decide to sell a vacant home than the home you occupy.
January 3, 2008 at 5:34 PM #129004HereWeGoParticipantActually that looks like the total number of vacant homes, rather than the total number of bank-owned vacant homes. Obviously the vast majority are not for sale. A further breakdown of that 17.9 million inventory would be needed to really assess the situation (how many owned free and clear, how many REO, etc.)
Still, it’s a heck of a lot easier to decide to sell a vacant home than the home you occupy.
January 3, 2008 at 5:38 PM #128736guitar187ParticipantI think there is an underestimate of how big the bulk REO market is. A good portion of this stuff will get sold in Bulk to investors who will attempt to market them individually on their own.
If you could see the inefficiencies in Account Managers, Real Estate Agents, etc. trying to liquidate these properties you would understand why.
January 3, 2008 at 5:38 PM #128902guitar187ParticipantI think there is an underestimate of how big the bulk REO market is. A good portion of this stuff will get sold in Bulk to investors who will attempt to market them individually on their own.
If you could see the inefficiencies in Account Managers, Real Estate Agents, etc. trying to liquidate these properties you would understand why.
January 3, 2008 at 5:38 PM #128911guitar187ParticipantI think there is an underestimate of how big the bulk REO market is. A good portion of this stuff will get sold in Bulk to investors who will attempt to market them individually on their own.
If you could see the inefficiencies in Account Managers, Real Estate Agents, etc. trying to liquidate these properties you would understand why.
January 3, 2008 at 5:38 PM #128980guitar187ParticipantI think there is an underestimate of how big the bulk REO market is. A good portion of this stuff will get sold in Bulk to investors who will attempt to market them individually on their own.
If you could see the inefficiencies in Account Managers, Real Estate Agents, etc. trying to liquidate these properties you would understand why.
January 3, 2008 at 5:38 PM #129009guitar187ParticipantI think there is an underestimate of how big the bulk REO market is. A good portion of this stuff will get sold in Bulk to investors who will attempt to market them individually on their own.
If you could see the inefficiencies in Account Managers, Real Estate Agents, etc. trying to liquidate these properties you would understand why.
January 3, 2008 at 6:45 PM #128741kewpParticipantIt would be kind of funny if it wasn’t so sad.
This is what really kills me about the current monetary policy of the Fed. The banks are crying that they need cheap money to provide liquidity and stay solvent. When they are sitting on literally billions of dollars of hard assets (real estate).
However there is a catch-22 that once they start liquidating stuff, it will set comps and lower the net worth of whats left.
So we all end up paying for this via inflation. And the banks are going to get slammed anyways, as they are going to need to move the inventory at some point. They can’t hold it forever.
Or maybe they can. I guess time will tell.
January 3, 2008 at 6:45 PM #128907kewpParticipantIt would be kind of funny if it wasn’t so sad.
This is what really kills me about the current monetary policy of the Fed. The banks are crying that they need cheap money to provide liquidity and stay solvent. When they are sitting on literally billions of dollars of hard assets (real estate).
However there is a catch-22 that once they start liquidating stuff, it will set comps and lower the net worth of whats left.
So we all end up paying for this via inflation. And the banks are going to get slammed anyways, as they are going to need to move the inventory at some point. They can’t hold it forever.
Or maybe they can. I guess time will tell.
January 3, 2008 at 6:45 PM #128916kewpParticipantIt would be kind of funny if it wasn’t so sad.
This is what really kills me about the current monetary policy of the Fed. The banks are crying that they need cheap money to provide liquidity and stay solvent. When they are sitting on literally billions of dollars of hard assets (real estate).
However there is a catch-22 that once they start liquidating stuff, it will set comps and lower the net worth of whats left.
So we all end up paying for this via inflation. And the banks are going to get slammed anyways, as they are going to need to move the inventory at some point. They can’t hold it forever.
Or maybe they can. I guess time will tell.
January 3, 2008 at 6:45 PM #128985kewpParticipantIt would be kind of funny if it wasn’t so sad.
This is what really kills me about the current monetary policy of the Fed. The banks are crying that they need cheap money to provide liquidity and stay solvent. When they are sitting on literally billions of dollars of hard assets (real estate).
However there is a catch-22 that once they start liquidating stuff, it will set comps and lower the net worth of whats left.
So we all end up paying for this via inflation. And the banks are going to get slammed anyways, as they are going to need to move the inventory at some point. They can’t hold it forever.
Or maybe they can. I guess time will tell.
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