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March 28, 2008 at 11:08 AM #177961March 28, 2008 at 11:08 AM #177967barnaby33Participant
Almost seems like a typo, 40% of all listings are short sales, wow. Looks like it took 3 months to go from 30% to 40%. It also looks like linear growth. By June short sales should be the majority. 6-9 months after that REO should be the majority.
Josh
March 28, 2008 at 11:08 AM #177975barnaby33ParticipantAlmost seems like a typo, 40% of all listings are short sales, wow. Looks like it took 3 months to go from 30% to 40%. It also looks like linear growth. By June short sales should be the majority. 6-9 months after that REO should be the majority.
Josh
March 28, 2008 at 11:08 AM #178063barnaby33ParticipantAlmost seems like a typo, 40% of all listings are short sales, wow. Looks like it took 3 months to go from 30% to 40%. It also looks like linear growth. By June short sales should be the majority. 6-9 months after that REO should be the majority.
Josh
March 28, 2008 at 11:14 AM #177613stansdParticipantJosh,
Don’t take that 40% as an absolute indicator, only a relative one. There is double counting in the way the # of short sales are being captured (frankly, there is some potential for this to even overstate even the relative changes).
I won’t bore you with the details (I think it’s earlier in the thread somewhere), but my take thus far is that it’s not truly 40% that are short, but that the % short is increasing.
Stan
March 28, 2008 at 11:14 AM #177966stansdParticipantJosh,
Don’t take that 40% as an absolute indicator, only a relative one. There is double counting in the way the # of short sales are being captured (frankly, there is some potential for this to even overstate even the relative changes).
I won’t bore you with the details (I think it’s earlier in the thread somewhere), but my take thus far is that it’s not truly 40% that are short, but that the % short is increasing.
Stan
March 28, 2008 at 11:14 AM #177972stansdParticipantJosh,
Don’t take that 40% as an absolute indicator, only a relative one. There is double counting in the way the # of short sales are being captured (frankly, there is some potential for this to even overstate even the relative changes).
I won’t bore you with the details (I think it’s earlier in the thread somewhere), but my take thus far is that it’s not truly 40% that are short, but that the % short is increasing.
Stan
March 28, 2008 at 11:14 AM #177980stansdParticipantJosh,
Don’t take that 40% as an absolute indicator, only a relative one. There is double counting in the way the # of short sales are being captured (frankly, there is some potential for this to even overstate even the relative changes).
I won’t bore you with the details (I think it’s earlier in the thread somewhere), but my take thus far is that it’s not truly 40% that are short, but that the % short is increasing.
Stan
March 28, 2008 at 11:14 AM #178068stansdParticipantJosh,
Don’t take that 40% as an absolute indicator, only a relative one. There is double counting in the way the # of short sales are being captured (frankly, there is some potential for this to even overstate even the relative changes).
I won’t bore you with the details (I think it’s earlier in the thread somewhere), but my take thus far is that it’s not truly 40% that are short, but that the % short is increasing.
Stan
March 29, 2008 at 10:08 AM #178064CostaMesaParticipantThank goodness that esmith posted the definition of ‘FB’ on urbandictionary.com. π I’m a bit slow sometimes.
Anyway… I’m starting to get curious about how the various financial institutions will react to this situation. I was in Sunnyvale last weekend and the Downey Savings branch had a big sign saying that they’re directly selling repos with great loan terms – essentially passing the existing loan off onto a new customer at who knows what price. Is it just me or is this form of direct marketing a new twist to this saga?
tks – cm
March 29, 2008 at 10:08 AM #178419CostaMesaParticipantThank goodness that esmith posted the definition of ‘FB’ on urbandictionary.com. π I’m a bit slow sometimes.
Anyway… I’m starting to get curious about how the various financial institutions will react to this situation. I was in Sunnyvale last weekend and the Downey Savings branch had a big sign saying that they’re directly selling repos with great loan terms – essentially passing the existing loan off onto a new customer at who knows what price. Is it just me or is this form of direct marketing a new twist to this saga?
tks – cm
March 29, 2008 at 10:08 AM #178421CostaMesaParticipantThank goodness that esmith posted the definition of ‘FB’ on urbandictionary.com. π I’m a bit slow sometimes.
Anyway… I’m starting to get curious about how the various financial institutions will react to this situation. I was in Sunnyvale last weekend and the Downey Savings branch had a big sign saying that they’re directly selling repos with great loan terms – essentially passing the existing loan off onto a new customer at who knows what price. Is it just me or is this form of direct marketing a new twist to this saga?
tks – cm
March 29, 2008 at 10:08 AM #178430CostaMesaParticipantThank goodness that esmith posted the definition of ‘FB’ on urbandictionary.com. π I’m a bit slow sometimes.
Anyway… I’m starting to get curious about how the various financial institutions will react to this situation. I was in Sunnyvale last weekend and the Downey Savings branch had a big sign saying that they’re directly selling repos with great loan terms – essentially passing the existing loan off onto a new customer at who knows what price. Is it just me or is this form of direct marketing a new twist to this saga?
tks – cm
March 29, 2008 at 10:08 AM #178518CostaMesaParticipantThank goodness that esmith posted the definition of ‘FB’ on urbandictionary.com. π I’m a bit slow sometimes.
Anyway… I’m starting to get curious about how the various financial institutions will react to this situation. I was in Sunnyvale last weekend and the Downey Savings branch had a big sign saying that they’re directly selling repos with great loan terms – essentially passing the existing loan off onto a new customer at who knows what price. Is it just me or is this form of direct marketing a new twist to this saga?
tks – cm
March 31, 2008 at 12:48 PM #178823sdrealtorParticipantUpdate time!
Short sales 7,164 up from 7,031.
Countywide we are at 17,888 up from 17,792.
All in all, a very stagnant market. Lots of offers floating around. Deals are hard to put together and take more time as many require lender approval. Lots of activity on the low-end of 450 and below. Foreclosures sell quickly with many offers when priced right.
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