The banks do not have a choice.

[stpiermj]

m&m
I am not 100% certain, but I believe the underlying issue is that banks who oversupply the market with distressed houses will cause the rate of depreciation of assets backed by mortgages to increase the rate of the imploding credit market and thus the rate of economic shrinking and ultimately the total amount of economic shrinkage. If a bank sells a home at a much lower value then it had assumed when assessing its assets, then it must readjust this assessment of its assets even lower. This means it can not borrow as much from Uncle Fed, It can not lend as much to you and me, It means investors lose more, it means possible bank rupture if everyone starts to sell at market demand prices. It means stock market collaspe and world wide recession (Maybe world wide recession then stock market collaspe).

[SD Realtor]

sd_bear that is the more insightful analysis I was looking for. Still not sure I buy into the banks holding back scenario but the time for an REO to be put on the market does vary. For instance the Mesa Norte property which has been discussed here in other threads went to trustee sale in June. It just hit the MLS yesterday. Is that the norm? Of course not. Then there are properties that go right to auctions such as REDC. Also as someone who has done alot of string searches in the MLS I would say widen the search and use alot of different terms… bank, lender, foreclosed, foreclosure, REO, Trustee… you see what I am saying? Also search in the confidential remarks fields as well. Also did you do your search on actives only? I assume you did your search on solds, pendings, actives, expireds, expireds and withdrawns. You would then have to pull out all of the duplicates. Also note any trustee sale made in say december and quite possibly november will/may not be on the MLS.

Given all of that I absolutely applaud you getting down and dirty and attempting to provide raw facts through your own data mining.

SD Realtor

[SD Realtor]

sd_bear that is the more insightful analysis I was looking for. Still not sure I buy into the banks holding back scenario but the time for an REO to be put on the market does vary. For instance the Mesa Norte property which has been discussed here in other threads went to trustee sale in June. It just hit the MLS yesterday. Is that the norm? Of course not. Then there are properties that go right to auctions such as REDC. Also as someone who has done alot of string searches in the MLS I would say widen the search and use alot of different terms… bank, lender, foreclosed, foreclosure, REO, Trustee… you see what I am saying? Also search in the confidential remarks fields as well. Also did you do your search on actives only? I assume you did your search on solds, pendings, actives, expireds, expireds and withdrawns. You would then have to pull out all of the duplicates. Also note any trustee sale made in say december and quite possibly november will/may not be on the MLS.

Given all of that I absolutely applaud you getting down and dirty and attempting to provide raw facts through your own data mining.

SD Realtor

[SD Realtor]

sd_bear that is the more insightful analysis I was looking for. Still not sure I buy into the banks holding back scenario but the time for an REO to be put on the market does vary. For instance the Mesa Norte property which has been discussed here in other threads went to trustee sale in June. It just hit the MLS yesterday. Is that the norm? Of course not. Then there are properties that go right to auctions such as REDC. Also as someone who has done alot of string searches in the MLS I would say widen the search and use alot of different terms… bank, lender, foreclosed, foreclosure, REO, Trustee… you see what I am saying? Also search in the confidential remarks fields as well. Also did you do your search on actives only? I assume you did your search on solds, pendings, actives, expireds, expireds and withdrawns. You would then have to pull out all of the duplicates. Also note any trustee sale made in say december and quite possibly november will/may not be on the MLS.

Given all of that I absolutely applaud you getting down and dirty and attempting to provide raw facts through your own data mining.

SD Realtor

[SD Realtor]

sd_bear that is the more insightful analysis I was looking for. Still not sure I buy into the banks holding back scenario but the time for an REO to be put on the market does vary. For instance the Mesa Norte property which has been discussed here in other threads went to trustee sale in June. It just hit the MLS yesterday. Is that the norm? Of course not. Then there are properties that go right to auctions such as REDC. Also as someone who has done alot of string searches in the MLS I would say widen the search and use alot of different terms… bank, lender, foreclosed, foreclosure, REO, Trustee… you see what I am saying? Also search in the confidential remarks fields as well. Also did you do your search on actives only? I assume you did your search on solds, pendings, actives, expireds, expireds and withdrawns. You would then have to pull out all of the duplicates. Also note any trustee sale made in say december and quite possibly november will/may not be on the MLS.

Given all of that I absolutely applaud you getting down and dirty and attempting to provide raw facts through your own data mining.

SD Realtor

[SD Realtor]

sd_bear that is the more insightful analysis I was looking for. Still not sure I buy into the banks holding back scenario but the time for an REO to be put on the market does vary. For instance the Mesa Norte property which has been discussed here in other threads went to trustee sale in June. It just hit the MLS yesterday. Is that the norm? Of course not. Then there are properties that go right to auctions such as REDC. Also as someone who has done alot of string searches in the MLS I would say widen the search and use alot of different terms… bank, lender, foreclosed, foreclosure, REO, Trustee… you see what I am saying? Also search in the confidential remarks fields as well. Also did you do your search on actives only? I assume you did your search on solds, pendings, actives, expireds, expireds and withdrawns. You would then have to pull out all of the duplicates. Also note any trustee sale made in say december and quite possibly november will/may not be on the MLS.

Given all of that I absolutely applaud you getting down and dirty and attempting to provide raw facts through your own data mining.

SD Realtor

[Bugs]

The word from a couple insiders is that their banks and the others that they’re aware of are disposing of the properties as soon as they can get them through the system. No reserves, no holdbacks; they simply don’t have the resources to attempt to outwait the market.

FWIW.

[Bugs]

The word from a couple insiders is that their banks and the others that they’re aware of are disposing of the properties as soon as they can get them through the system. No reserves, no holdbacks; they simply don’t have the resources to attempt to outwait the market.

FWIW.

[Bugs]

The word from a couple insiders is that their banks and the others that they’re aware of are disposing of the properties as soon as they can get them through the system. No reserves, no holdbacks; they simply don’t have the resources to attempt to outwait the market.

FWIW.

[Bugs]

The word from a couple insiders is that their banks and the others that they’re aware of are disposing of the properties as soon as they can get them through the system. No reserves, no holdbacks; they simply don’t have the resources to attempt to outwait the market.

FWIW.

[Bugs]

The word from a couple insiders is that their banks and the others that they’re aware of are disposing of the properties as soon as they can get them through the system. No reserves, no holdbacks; they simply don’t have the resources to attempt to outwait the market.

FWIW.

[sd_bear]

Unfortunately you give me too much credit SD Realtor. I am simply the messenger, not the data miner. The fine folks at californiahousingforecast.com are the ones who performed the search and pulled the information. I only wish I had access to the MLS to be able to perform my own searches.

I knew everyone here (including myself) was very interested in seeing actual numbers, or at least good estimates to what the banks were holding vs. releasing.

[sd_bear]

Unfortunately you give me too much credit SD Realtor. I am simply the messenger, not the data miner. The fine folks at californiahousingforecast.com are the ones who performed the search and pulled the information. I only wish I had access to the MLS to be able to perform my own searches.

I knew everyone here (including myself) was very interested in seeing actual numbers, or at least good estimates to what the banks were holding vs. releasing.

[sd_bear]

Unfortunately you give me too much credit SD Realtor. I am simply the messenger, not the data miner. The fine folks at californiahousingforecast.com are the ones who performed the search and pulled the information. I only wish I had access to the MLS to be able to perform my own searches.

I knew everyone here (including myself) was very interested in seeing actual numbers, or at least good estimates to what the banks were holding vs. releasing.

[sd_bear]

Unfortunately you give me too much credit SD Realtor. I am simply the messenger, not the data miner. The fine folks at californiahousingforecast.com are the ones who performed the search and pulled the information. I only wish I had access to the MLS to be able to perform my own searches.

I knew everyone here (including myself) was very interested in seeing actual numbers, or at least good estimates to what the banks were holding vs. releasing.

[Author]

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