The lag to market

[gdcox]

Here is an ‘official view’ of the lag to market.

‘S&P said that it now assumes that foreclosures will take 15 months to process, and REO disposition another eight months on top of that, citing “current market conditions.”’

I think this means a 23 month delay from foreclosure (NOT?). Presumably this means todays NOT level affects the market on average 15 months later.

Are the REOs counted as part of the stock on the market.

Can any of you experts comment on this please.

[SD Realtor]

I am no expert but an REO is not considered part of actual inventory until it is actively for sale on the market. Also this is just my humble opinion. I have seen varying degrees of time it takes for an REO to get onto the market, from a few weeks to a few months. I have also seen many a NOT have the trustee sale delayed for many times. My listing in Lakeside was supposed to go to trustee sale back in like November of 07 and we had offers on it and kept getting the NOT pushed out… We finally closed escrow 3 days ago so we had PLENTY of stays of execution while Wilshire Credit Corp processed the short sale.

SD Realtor

[SD Realtor]

I am no expert but an REO is not considered part of actual inventory until it is actively for sale on the market. Also this is just my humble opinion. I have seen varying degrees of time it takes for an REO to get onto the market, from a few weeks to a few months. I have also seen many a NOT have the trustee sale delayed for many times. My listing in Lakeside was supposed to go to trustee sale back in like November of 07 and we had offers on it and kept getting the NOT pushed out… We finally closed escrow 3 days ago so we had PLENTY of stays of execution while Wilshire Credit Corp processed the short sale.

SD Realtor

[SD Realtor]

I am no expert but an REO is not considered part of actual inventory until it is actively for sale on the market. Also this is just my humble opinion. I have seen varying degrees of time it takes for an REO to get onto the market, from a few weeks to a few months. I have also seen many a NOT have the trustee sale delayed for many times. My listing in Lakeside was supposed to go to trustee sale back in like November of 07 and we had offers on it and kept getting the NOT pushed out… We finally closed escrow 3 days ago so we had PLENTY of stays of execution while Wilshire Credit Corp processed the short sale.

SD Realtor

[SD Realtor]

I am no expert but an REO is not considered part of actual inventory until it is actively for sale on the market. Also this is just my humble opinion. I have seen varying degrees of time it takes for an REO to get onto the market, from a few weeks to a few months. I have also seen many a NOT have the trustee sale delayed for many times. My listing in Lakeside was supposed to go to trustee sale back in like November of 07 and we had offers on it and kept getting the NOT pushed out… We finally closed escrow 3 days ago so we had PLENTY of stays of execution while Wilshire Credit Corp processed the short sale.

SD Realtor

[SD Realtor]

I am no expert but an REO is not considered part of actual inventory until it is actively for sale on the market. Also this is just my humble opinion. I have seen varying degrees of time it takes for an REO to get onto the market, from a few weeks to a few months. I have also seen many a NOT have the trustee sale delayed for many times. My listing in Lakeside was supposed to go to trustee sale back in like November of 07 and we had offers on it and kept getting the NOT pushed out… We finally closed escrow 3 days ago so we had PLENTY of stays of execution while Wilshire Credit Corp processed the short sale.

SD Realtor

[temeculaguy]

I’m a rubber meets the road amatuer expert. I track numerous places from nod, to brown lawn, to not, to listing, all as a consumer not a professional and I have never seen 23 months in the 100-200 places I watch. 3-12 months is 95% of them. I wouldn’t make any plans based on that data since the curbside data is completely different. There is a high volume right now and one that I am tracking is at 4 months from nod, with no not. I like that house so I am watching it but it has exceeded others so it may be going through a “workout” or the lender is swamped but I guarantee the nod gets removed or it goes not within a few months, not years.

That 8 month reo dispo is the time on the market and that is up to the seller and their pricing. I’m seeing more and more repos hit the market at 20% below the last comp and selling within a week, I think the author of that report is using time on market averages which includes FB’s and their overpriced resales which never sell, skewing the data.

[temeculaguy]

I’m a rubber meets the road amatuer expert. I track numerous places from nod, to brown lawn, to not, to listing, all as a consumer not a professional and I have never seen 23 months in the 100-200 places I watch. 3-12 months is 95% of them. I wouldn’t make any plans based on that data since the curbside data is completely different. There is a high volume right now and one that I am tracking is at 4 months from nod, with no not. I like that house so I am watching it but it has exceeded others so it may be going through a “workout” or the lender is swamped but I guarantee the nod gets removed or it goes not within a few months, not years.

That 8 month reo dispo is the time on the market and that is up to the seller and their pricing. I’m seeing more and more repos hit the market at 20% below the last comp and selling within a week, I think the author of that report is using time on market averages which includes FB’s and their overpriced resales which never sell, skewing the data.

[temeculaguy]

I’m a rubber meets the road amatuer expert. I track numerous places from nod, to brown lawn, to not, to listing, all as a consumer not a professional and I have never seen 23 months in the 100-200 places I watch. 3-12 months is 95% of them. I wouldn’t make any plans based on that data since the curbside data is completely different. There is a high volume right now and one that I am tracking is at 4 months from nod, with no not. I like that house so I am watching it but it has exceeded others so it may be going through a “workout” or the lender is swamped but I guarantee the nod gets removed or it goes not within a few months, not years.

That 8 month reo dispo is the time on the market and that is up to the seller and their pricing. I’m seeing more and more repos hit the market at 20% below the last comp and selling within a week, I think the author of that report is using time on market averages which includes FB’s and their overpriced resales which never sell, skewing the data.

[temeculaguy]

I’m a rubber meets the road amatuer expert. I track numerous places from nod, to brown lawn, to not, to listing, all as a consumer not a professional and I have never seen 23 months in the 100-200 places I watch. 3-12 months is 95% of them. I wouldn’t make any plans based on that data since the curbside data is completely different. There is a high volume right now and one that I am tracking is at 4 months from nod, with no not. I like that house so I am watching it but it has exceeded others so it may be going through a “workout” or the lender is swamped but I guarantee the nod gets removed or it goes not within a few months, not years.

That 8 month reo dispo is the time on the market and that is up to the seller and their pricing. I’m seeing more and more repos hit the market at 20% below the last comp and selling within a week, I think the author of that report is using time on market averages which includes FB’s and their overpriced resales which never sell, skewing the data.

[temeculaguy]

I’m a rubber meets the road amatuer expert. I track numerous places from nod, to brown lawn, to not, to listing, all as a consumer not a professional and I have never seen 23 months in the 100-200 places I watch. 3-12 months is 95% of them. I wouldn’t make any plans based on that data since the curbside data is completely different. There is a high volume right now and one that I am tracking is at 4 months from nod, with no not. I like that house so I am watching it but it has exceeded others so it may be going through a “workout” or the lender is swamped but I guarantee the nod gets removed or it goes not within a few months, not years.

That 8 month reo dispo is the time on the market and that is up to the seller and their pricing. I’m seeing more and more repos hit the market at 20% below the last comp and selling within a week, I think the author of that report is using time on market averages which includes FB’s and their overpriced resales which never sell, skewing the data.

[gdcox]

Temulcaguy. Thanks for that. Please advise what FB is.

[gdcox]

Temulcaguy. Thanks for that. Please advise what FB is.

[gdcox]

Temulcaguy. Thanks for that. Please advise what FB is.

[gdcox]

Temulcaguy. Thanks for that. Please advise what FB is.

[Author]

Posts