WOW NOD and TRUSTEE SALES SKY ROCKET IN JUNE!!!!!!!!!

[Anonymous]

Hi Eugene,

Be careful when using the counts returned by sdarcc.com. Like most of the county recorder sites, you will notice that many documents numbers are included in the results multiple times – one for each party (i.e. husband and wife). Thus your count may be off by 30-50%.

Best Regards,
Sean O’Toole
Founder/CEO
ForeclosureRadar.com

[temeculaguy]

Sean, you threw your credentials down so I’m gonna take the opportunity to ask a burning question. BTW, nice to see a celeb in the house, welcome.

What steps does your site take to remove listings (be they nod, not or bank owned)? We have had many a discussion on the boards about using sites like yours for stats as opposed to leads. It has been my position that data sites like yours take a bit of a shotgun approach, throw a lot of raw data at you, and it is up to the viewer to sift through it, chase a few down and hopefully find their pot of gold. Others seem to think that the raw numbers of nods and nots can be used as hard statsitics regarding foreclosures. I have found many listings that were already sold, modified loans or whatever method of removing themselves from the foreclosure process but they still show up on the maps (I’m generalizing the various sites but have found it on yours as well).

Don’t take this as an attack, it isn’t meant to be one, I personally bought a house recently using the “stalking” method facilitated by your website, but through that journey I found many irregularities and errors that I don’t think your site or those like it should be used for it’s statistics, but rather for the raw data that you collect and organize as a way to get ahead of the game in a purchase strategy.

here is an example of one of the recent discussions when someone used data from your site to create a thesis. Please excuse my tounge and cheek humor, if you were a reguler here you would know that I am to taken with a grain of salt and sometimes a parental guidance warning.

http://piggington.com/shadow_inventory_1

[temeculaguy]

Sean, you threw your credentials down so I’m gonna take the opportunity to ask a burning question. BTW, nice to see a celeb in the house, welcome.

What steps does your site take to remove listings (be they nod, not or bank owned)? We have had many a discussion on the boards about using sites like yours for stats as opposed to leads. It has been my position that data sites like yours take a bit of a shotgun approach, throw a lot of raw data at you, and it is up to the viewer to sift through it, chase a few down and hopefully find their pot of gold. Others seem to think that the raw numbers of nods and nots can be used as hard statsitics regarding foreclosures. I have found many listings that were already sold, modified loans or whatever method of removing themselves from the foreclosure process but they still show up on the maps (I’m generalizing the various sites but have found it on yours as well).

Don’t take this as an attack, it isn’t meant to be one, I personally bought a house recently using the “stalking” method facilitated by your website, but through that journey I found many irregularities and errors that I don’t think your site or those like it should be used for it’s statistics, but rather for the raw data that you collect and organize as a way to get ahead of the game in a purchase strategy.

here is an example of one of the recent discussions when someone used data from your site to create a thesis. Please excuse my tounge and cheek humor, if you were a reguler here you would know that I am to taken with a grain of salt and sometimes a parental guidance warning.

http://piggington.com/shadow_inventory_1

[temeculaguy]

Sean, you threw your credentials down so I’m gonna take the opportunity to ask a burning question. BTW, nice to see a celeb in the house, welcome.

What steps does your site take to remove listings (be they nod, not or bank owned)? We have had many a discussion on the boards about using sites like yours for stats as opposed to leads. It has been my position that data sites like yours take a bit of a shotgun approach, throw a lot of raw data at you, and it is up to the viewer to sift through it, chase a few down and hopefully find their pot of gold. Others seem to think that the raw numbers of nods and nots can be used as hard statsitics regarding foreclosures. I have found many listings that were already sold, modified loans or whatever method of removing themselves from the foreclosure process but they still show up on the maps (I’m generalizing the various sites but have found it on yours as well).

Don’t take this as an attack, it isn’t meant to be one, I personally bought a house recently using the “stalking” method facilitated by your website, but through that journey I found many irregularities and errors that I don’t think your site or those like it should be used for it’s statistics, but rather for the raw data that you collect and organize as a way to get ahead of the game in a purchase strategy.

here is an example of one of the recent discussions when someone used data from your site to create a thesis. Please excuse my tounge and cheek humor, if you were a reguler here you would know that I am to taken with a grain of salt and sometimes a parental guidance warning.

http://piggington.com/shadow_inventory_1

[temeculaguy]

Sean, you threw your credentials down so I’m gonna take the opportunity to ask a burning question. BTW, nice to see a celeb in the house, welcome.

What steps does your site take to remove listings (be they nod, not or bank owned)? We have had many a discussion on the boards about using sites like yours for stats as opposed to leads. It has been my position that data sites like yours take a bit of a shotgun approach, throw a lot of raw data at you, and it is up to the viewer to sift through it, chase a few down and hopefully find their pot of gold. Others seem to think that the raw numbers of nods and nots can be used as hard statsitics regarding foreclosures. I have found many listings that were already sold, modified loans or whatever method of removing themselves from the foreclosure process but they still show up on the maps (I’m generalizing the various sites but have found it on yours as well).

Don’t take this as an attack, it isn’t meant to be one, I personally bought a house recently using the “stalking” method facilitated by your website, but through that journey I found many irregularities and errors that I don’t think your site or those like it should be used for it’s statistics, but rather for the raw data that you collect and organize as a way to get ahead of the game in a purchase strategy.

here is an example of one of the recent discussions when someone used data from your site to create a thesis. Please excuse my tounge and cheek humor, if you were a reguler here you would know that I am to taken with a grain of salt and sometimes a parental guidance warning.

http://piggington.com/shadow_inventory_1

[temeculaguy]

Sean, you threw your credentials down so I’m gonna take the opportunity to ask a burning question. BTW, nice to see a celeb in the house, welcome.

What steps does your site take to remove listings (be they nod, not or bank owned)? We have had many a discussion on the boards about using sites like yours for stats as opposed to leads. It has been my position that data sites like yours take a bit of a shotgun approach, throw a lot of raw data at you, and it is up to the viewer to sift through it, chase a few down and hopefully find their pot of gold. Others seem to think that the raw numbers of nods and nots can be used as hard statsitics regarding foreclosures. I have found many listings that were already sold, modified loans or whatever method of removing themselves from the foreclosure process but they still show up on the maps (I’m generalizing the various sites but have found it on yours as well).

Don’t take this as an attack, it isn’t meant to be one, I personally bought a house recently using the “stalking” method facilitated by your website, but through that journey I found many irregularities and errors that I don’t think your site or those like it should be used for it’s statistics, but rather for the raw data that you collect and organize as a way to get ahead of the game in a purchase strategy.

here is an example of one of the recent discussions when someone used data from your site to create a thesis. Please excuse my tounge and cheek humor, if you were a reguler here you would know that I am to taken with a grain of salt and sometimes a parental guidance warning.

http://piggington.com/shadow_inventory_1

[Rt.66]

TVG, Incase you missed this informative post from Lucky In OC on the link you provided:

————–
“Lucky In OC

FDIC banking info:
http://www2.fdic.gov/SDI/SOB/

Past Due and Nonaccrual Assets – 30-89 days:
. Total:
. Q1-2009 158.3 B
. Q4-2008 157.9 B
. Q4-2007 108.0 B

. Construction and land development:
. Q1-2009 20.2 B
. Q4-2008 17.0 B
. Q4-2007 11.4 B

. 1-4 family residential properties:
. Q1-2009 75.0 B
. Q4-2008 78.8 B
. Q4-2007 51.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 14.7 B
. Q4-2008 11.4 B
. Q4-2007 7.5 B

Assets past due 90 or more days:
. Total:
. Q1-2009 91.1 B
. Q4-2008 75.5 B
. Q4-2007 31.5 B

. Construction and land development:
. Q1-2009 6.4 B
. Q4-2008 5.0 B
. Q4-2007 1.9 B

. 1-4 family residential properties:
. Q1-2009 57.0 B
. Q4-2008 46.1 B
. Q4-2007 14.3 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 3.0 B
. Q4-2008 2.2 B
. Q4-2007 0.9 B

Assets in nonaccral status (Foreclosures?):
. Total:
. Q1-2009 203.2 B
. Q4-2008 160.0 B
. Q4-2007 79.4 B

. Construction and land development:
. Q1-2009 55.5 B
. Q4-2008 46.4 B
. Q4-2007 18.4 B

. 1-4 family residential properties:
. Q1-2009 78.1 B
. Q4-2008 56.6 B
. Q4-2007 37.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 21.2 B
. Q4-2008 15.1 B
. Q4-2007 6.9 B

Loan Charge-Offs and Recoveries (YTD):
. Total:
. Q1-2009 40.5 B
. Q4-2008 109.6 B
. Q4-2007 53.5 B

. Construction and land development:
. Q1-2009 4.7 B
. Q4-2008 16.5 B
. Q4-2007 2.3 B

. 1-4 family residential properties:
. Q1-2009 11.2 B
. Q4-2008 27.2 B
. Q4-2007 8.0 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 1.1 B
. Q4-2008 2.7 B
. Q4-2007 1.0 B

Net Loans and Leases:
. Total:
. Q1-2009 7,540.5 B
. Q4-2008 7,700.1 B
. Q4-2007 7,804.0 B

. All real estate loans:
. Q1-2009 4,700.5 B
. Q4-2008 4,705.0 B
. Q4-2007 7.781.8 B

. Construction and land development:
. Q1-2009 566.9 B
. Q4-2008 590.9 B
. Q4-2007 629.5 B

. 1-4 family residential properties:
. Q1-2009 2,719.6 B
. Q4-2008 2,713.5 B
. Q4-2007 2,852.9 B

. Commercial real estate:
. Q1-2009 1,076.9 B
. Q4-2008 1,066.1 B
. Q4-2007 968.7 B

———————

Those figures are from the FDIC; is that a reliable enough source for ya? Those stats are UGLY, and getting worse. No bottom here, just a snowball gathering mass.

RealtyTrac under-reports. Properties pop-up and disapear for all sorts of reasons. I saw a house that has been empty for 6 months pop up on RT as preforeclosure and then two weeks later completely disapear from RT. Reason this time?The auction at the courthouse was postponed; the people stopped paying on it a 1.5 years ago and left 6 months ago, yet no foreclosure service shows this house. Its clearly not in the running for a loan mod.

RT are usually really quick at delisting a property once its status changes. Watch a foreclosure on RT that goes to one of those bogus REDC auctions. After the auction date the house will likely disappear from RT, sold or not.

I’m guessing you look at RT and see that Temecula is imploding and simply can’t believe so many people are not paying their mortgage. Temecula was not the first choice of many who live there, they settled because it was what they could afford during the bubble years. So its reasonable that they would throw in the towel on a house underwater by $200k before a guy in SD would.

Why keep paying when you can jingle-mail and start to save up to buy in SD when prices drop way below what they owed in Temecula?

Stop paying in TV in 2008, live free and save $2000. a month for 18 months (gives you $36k for a down), watch as SD RE values plummet for years and then jump back in 2013 when the foreclosure drops off your credit report. I bet they won’t have to wait that long as banks will have to practice foreclosure forgiveness or lose a big, BIG chunk of potential home buyers going forward.

[Rt.66]

TVG, Incase you missed this informative post from Lucky In OC on the link you provided:

————–
“Lucky In OC

FDIC banking info:
http://www2.fdic.gov/SDI/SOB/

Past Due and Nonaccrual Assets – 30-89 days:
. Total:
. Q1-2009 158.3 B
. Q4-2008 157.9 B
. Q4-2007 108.0 B

. Construction and land development:
. Q1-2009 20.2 B
. Q4-2008 17.0 B
. Q4-2007 11.4 B

. 1-4 family residential properties:
. Q1-2009 75.0 B
. Q4-2008 78.8 B
. Q4-2007 51.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 14.7 B
. Q4-2008 11.4 B
. Q4-2007 7.5 B

Assets past due 90 or more days:
. Total:
. Q1-2009 91.1 B
. Q4-2008 75.5 B
. Q4-2007 31.5 B

. Construction and land development:
. Q1-2009 6.4 B
. Q4-2008 5.0 B
. Q4-2007 1.9 B

. 1-4 family residential properties:
. Q1-2009 57.0 B
. Q4-2008 46.1 B
. Q4-2007 14.3 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 3.0 B
. Q4-2008 2.2 B
. Q4-2007 0.9 B

Assets in nonaccral status (Foreclosures?):
. Total:
. Q1-2009 203.2 B
. Q4-2008 160.0 B
. Q4-2007 79.4 B

. Construction and land development:
. Q1-2009 55.5 B
. Q4-2008 46.4 B
. Q4-2007 18.4 B

. 1-4 family residential properties:
. Q1-2009 78.1 B
. Q4-2008 56.6 B
. Q4-2007 37.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 21.2 B
. Q4-2008 15.1 B
. Q4-2007 6.9 B

Loan Charge-Offs and Recoveries (YTD):
. Total:
. Q1-2009 40.5 B
. Q4-2008 109.6 B
. Q4-2007 53.5 B

. Construction and land development:
. Q1-2009 4.7 B
. Q4-2008 16.5 B
. Q4-2007 2.3 B

. 1-4 family residential properties:
. Q1-2009 11.2 B
. Q4-2008 27.2 B
. Q4-2007 8.0 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 1.1 B
. Q4-2008 2.7 B
. Q4-2007 1.0 B

Net Loans and Leases:
. Total:
. Q1-2009 7,540.5 B
. Q4-2008 7,700.1 B
. Q4-2007 7,804.0 B

. All real estate loans:
. Q1-2009 4,700.5 B
. Q4-2008 4,705.0 B
. Q4-2007 7.781.8 B

. Construction and land development:
. Q1-2009 566.9 B
. Q4-2008 590.9 B
. Q4-2007 629.5 B

. 1-4 family residential properties:
. Q1-2009 2,719.6 B
. Q4-2008 2,713.5 B
. Q4-2007 2,852.9 B

. Commercial real estate:
. Q1-2009 1,076.9 B
. Q4-2008 1,066.1 B
. Q4-2007 968.7 B

———————

Those figures are from the FDIC; is that a reliable enough source for ya? Those stats are UGLY, and getting worse. No bottom here, just a snowball gathering mass.

RealtyTrac under-reports. Properties pop-up and disapear for all sorts of reasons. I saw a house that has been empty for 6 months pop up on RT as preforeclosure and then two weeks later completely disapear from RT. Reason this time?The auction at the courthouse was postponed; the people stopped paying on it a 1.5 years ago and left 6 months ago, yet no foreclosure service shows this house. Its clearly not in the running for a loan mod.

RT are usually really quick at delisting a property once its status changes. Watch a foreclosure on RT that goes to one of those bogus REDC auctions. After the auction date the house will likely disappear from RT, sold or not.

I’m guessing you look at RT and see that Temecula is imploding and simply can’t believe so many people are not paying their mortgage. Temecula was not the first choice of many who live there, they settled because it was what they could afford during the bubble years. So its reasonable that they would throw in the towel on a house underwater by $200k before a guy in SD would.

Why keep paying when you can jingle-mail and start to save up to buy in SD when prices drop way below what they owed in Temecula?

Stop paying in TV in 2008, live free and save $2000. a month for 18 months (gives you $36k for a down), watch as SD RE values plummet for years and then jump back in 2013 when the foreclosure drops off your credit report. I bet they won’t have to wait that long as banks will have to practice foreclosure forgiveness or lose a big, BIG chunk of potential home buyers going forward.

[Rt.66]

TVG, Incase you missed this informative post from Lucky In OC on the link you provided:

————–
“Lucky In OC

FDIC banking info:
http://www2.fdic.gov/SDI/SOB/

Past Due and Nonaccrual Assets – 30-89 days:
. Total:
. Q1-2009 158.3 B
. Q4-2008 157.9 B
. Q4-2007 108.0 B

. Construction and land development:
. Q1-2009 20.2 B
. Q4-2008 17.0 B
. Q4-2007 11.4 B

. 1-4 family residential properties:
. Q1-2009 75.0 B
. Q4-2008 78.8 B
. Q4-2007 51.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 14.7 B
. Q4-2008 11.4 B
. Q4-2007 7.5 B

Assets past due 90 or more days:
. Total:
. Q1-2009 91.1 B
. Q4-2008 75.5 B
. Q4-2007 31.5 B

. Construction and land development:
. Q1-2009 6.4 B
. Q4-2008 5.0 B
. Q4-2007 1.9 B

. 1-4 family residential properties:
. Q1-2009 57.0 B
. Q4-2008 46.1 B
. Q4-2007 14.3 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 3.0 B
. Q4-2008 2.2 B
. Q4-2007 0.9 B

Assets in nonaccral status (Foreclosures?):
. Total:
. Q1-2009 203.2 B
. Q4-2008 160.0 B
. Q4-2007 79.4 B

. Construction and land development:
. Q1-2009 55.5 B
. Q4-2008 46.4 B
. Q4-2007 18.4 B

. 1-4 family residential properties:
. Q1-2009 78.1 B
. Q4-2008 56.6 B
. Q4-2007 37.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 21.2 B
. Q4-2008 15.1 B
. Q4-2007 6.9 B

Loan Charge-Offs and Recoveries (YTD):
. Total:
. Q1-2009 40.5 B
. Q4-2008 109.6 B
. Q4-2007 53.5 B

. Construction and land development:
. Q1-2009 4.7 B
. Q4-2008 16.5 B
. Q4-2007 2.3 B

. 1-4 family residential properties:
. Q1-2009 11.2 B
. Q4-2008 27.2 B
. Q4-2007 8.0 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 1.1 B
. Q4-2008 2.7 B
. Q4-2007 1.0 B

Net Loans and Leases:
. Total:
. Q1-2009 7,540.5 B
. Q4-2008 7,700.1 B
. Q4-2007 7,804.0 B

. All real estate loans:
. Q1-2009 4,700.5 B
. Q4-2008 4,705.0 B
. Q4-2007 7.781.8 B

. Construction and land development:
. Q1-2009 566.9 B
. Q4-2008 590.9 B
. Q4-2007 629.5 B

. 1-4 family residential properties:
. Q1-2009 2,719.6 B
. Q4-2008 2,713.5 B
. Q4-2007 2,852.9 B

. Commercial real estate:
. Q1-2009 1,076.9 B
. Q4-2008 1,066.1 B
. Q4-2007 968.7 B

———————

Those figures are from the FDIC; is that a reliable enough source for ya? Those stats are UGLY, and getting worse. No bottom here, just a snowball gathering mass.

RealtyTrac under-reports. Properties pop-up and disapear for all sorts of reasons. I saw a house that has been empty for 6 months pop up on RT as preforeclosure and then two weeks later completely disapear from RT. Reason this time?The auction at the courthouse was postponed; the people stopped paying on it a 1.5 years ago and left 6 months ago, yet no foreclosure service shows this house. Its clearly not in the running for a loan mod.

RT are usually really quick at delisting a property once its status changes. Watch a foreclosure on RT that goes to one of those bogus REDC auctions. After the auction date the house will likely disappear from RT, sold or not.

I’m guessing you look at RT and see that Temecula is imploding and simply can’t believe so many people are not paying their mortgage. Temecula was not the first choice of many who live there, they settled because it was what they could afford during the bubble years. So its reasonable that they would throw in the towel on a house underwater by $200k before a guy in SD would.

Why keep paying when you can jingle-mail and start to save up to buy in SD when prices drop way below what they owed in Temecula?

Stop paying in TV in 2008, live free and save $2000. a month for 18 months (gives you $36k for a down), watch as SD RE values plummet for years and then jump back in 2013 when the foreclosure drops off your credit report. I bet they won’t have to wait that long as banks will have to practice foreclosure forgiveness or lose a big, BIG chunk of potential home buyers going forward.

[Rt.66]

TVG, Incase you missed this informative post from Lucky In OC on the link you provided:

————–
“Lucky In OC

FDIC banking info:
http://www2.fdic.gov/SDI/SOB/

Past Due and Nonaccrual Assets – 30-89 days:
. Total:
. Q1-2009 158.3 B
. Q4-2008 157.9 B
. Q4-2007 108.0 B

. Construction and land development:
. Q1-2009 20.2 B
. Q4-2008 17.0 B
. Q4-2007 11.4 B

. 1-4 family residential properties:
. Q1-2009 75.0 B
. Q4-2008 78.8 B
. Q4-2007 51.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 14.7 B
. Q4-2008 11.4 B
. Q4-2007 7.5 B

Assets past due 90 or more days:
. Total:
. Q1-2009 91.1 B
. Q4-2008 75.5 B
. Q4-2007 31.5 B

. Construction and land development:
. Q1-2009 6.4 B
. Q4-2008 5.0 B
. Q4-2007 1.9 B

. 1-4 family residential properties:
. Q1-2009 57.0 B
. Q4-2008 46.1 B
. Q4-2007 14.3 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 3.0 B
. Q4-2008 2.2 B
. Q4-2007 0.9 B

Assets in nonaccral status (Foreclosures?):
. Total:
. Q1-2009 203.2 B
. Q4-2008 160.0 B
. Q4-2007 79.4 B

. Construction and land development:
. Q1-2009 55.5 B
. Q4-2008 46.4 B
. Q4-2007 18.4 B

. 1-4 family residential properties:
. Q1-2009 78.1 B
. Q4-2008 56.6 B
. Q4-2007 37.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 21.2 B
. Q4-2008 15.1 B
. Q4-2007 6.9 B

Loan Charge-Offs and Recoveries (YTD):
. Total:
. Q1-2009 40.5 B
. Q4-2008 109.6 B
. Q4-2007 53.5 B

. Construction and land development:
. Q1-2009 4.7 B
. Q4-2008 16.5 B
. Q4-2007 2.3 B

. 1-4 family residential properties:
. Q1-2009 11.2 B
. Q4-2008 27.2 B
. Q4-2007 8.0 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 1.1 B
. Q4-2008 2.7 B
. Q4-2007 1.0 B

Net Loans and Leases:
. Total:
. Q1-2009 7,540.5 B
. Q4-2008 7,700.1 B
. Q4-2007 7,804.0 B

. All real estate loans:
. Q1-2009 4,700.5 B
. Q4-2008 4,705.0 B
. Q4-2007 7.781.8 B

. Construction and land development:
. Q1-2009 566.9 B
. Q4-2008 590.9 B
. Q4-2007 629.5 B

. 1-4 family residential properties:
. Q1-2009 2,719.6 B
. Q4-2008 2,713.5 B
. Q4-2007 2,852.9 B

. Commercial real estate:
. Q1-2009 1,076.9 B
. Q4-2008 1,066.1 B
. Q4-2007 968.7 B

———————

Those figures are from the FDIC; is that a reliable enough source for ya? Those stats are UGLY, and getting worse. No bottom here, just a snowball gathering mass.

RealtyTrac under-reports. Properties pop-up and disapear for all sorts of reasons. I saw a house that has been empty for 6 months pop up on RT as preforeclosure and then two weeks later completely disapear from RT. Reason this time?The auction at the courthouse was postponed; the people stopped paying on it a 1.5 years ago and left 6 months ago, yet no foreclosure service shows this house. Its clearly not in the running for a loan mod.

RT are usually really quick at delisting a property once its status changes. Watch a foreclosure on RT that goes to one of those bogus REDC auctions. After the auction date the house will likely disappear from RT, sold or not.

I’m guessing you look at RT and see that Temecula is imploding and simply can’t believe so many people are not paying their mortgage. Temecula was not the first choice of many who live there, they settled because it was what they could afford during the bubble years. So its reasonable that they would throw in the towel on a house underwater by $200k before a guy in SD would.

Why keep paying when you can jingle-mail and start to save up to buy in SD when prices drop way below what they owed in Temecula?

Stop paying in TV in 2008, live free and save $2000. a month for 18 months (gives you $36k for a down), watch as SD RE values plummet for years and then jump back in 2013 when the foreclosure drops off your credit report. I bet they won’t have to wait that long as banks will have to practice foreclosure forgiveness or lose a big, BIG chunk of potential home buyers going forward.

[Rt.66]

TVG, Incase you missed this informative post from Lucky In OC on the link you provided:

————–
“Lucky In OC

FDIC banking info:
http://www2.fdic.gov/SDI/SOB/

Past Due and Nonaccrual Assets – 30-89 days:
. Total:
. Q1-2009 158.3 B
. Q4-2008 157.9 B
. Q4-2007 108.0 B

. Construction and land development:
. Q1-2009 20.2 B
. Q4-2008 17.0 B
. Q4-2007 11.4 B

. 1-4 family residential properties:
. Q1-2009 75.0 B
. Q4-2008 78.8 B
. Q4-2007 51.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 14.7 B
. Q4-2008 11.4 B
. Q4-2007 7.5 B

Assets past due 90 or more days:
. Total:
. Q1-2009 91.1 B
. Q4-2008 75.5 B
. Q4-2007 31.5 B

. Construction and land development:
. Q1-2009 6.4 B
. Q4-2008 5.0 B
. Q4-2007 1.9 B

. 1-4 family residential properties:
. Q1-2009 57.0 B
. Q4-2008 46.1 B
. Q4-2007 14.3 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 3.0 B
. Q4-2008 2.2 B
. Q4-2007 0.9 B

Assets in nonaccral status (Foreclosures?):
. Total:
. Q1-2009 203.2 B
. Q4-2008 160.0 B
. Q4-2007 79.4 B

. Construction and land development:
. Q1-2009 55.5 B
. Q4-2008 46.4 B
. Q4-2007 18.4 B

. 1-4 family residential properties:
. Q1-2009 78.1 B
. Q4-2008 56.6 B
. Q4-2007 37.5 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 21.2 B
. Q4-2008 15.1 B
. Q4-2007 6.9 B

Loan Charge-Offs and Recoveries (YTD):
. Total:
. Q1-2009 40.5 B
. Q4-2008 109.6 B
. Q4-2007 53.5 B

. Construction and land development:
. Q1-2009 4.7 B
. Q4-2008 16.5 B
. Q4-2007 2.3 B

. 1-4 family residential properties:
. Q1-2009 11.2 B
. Q4-2008 27.2 B
. Q4-2007 8.0 B

. Securred by nonfarm nonresidential properties:
. Q1-2009 1.1 B
. Q4-2008 2.7 B
. Q4-2007 1.0 B

Net Loans and Leases:
. Total:
. Q1-2009 7,540.5 B
. Q4-2008 7,700.1 B
. Q4-2007 7,804.0 B

. All real estate loans:
. Q1-2009 4,700.5 B
. Q4-2008 4,705.0 B
. Q4-2007 7.781.8 B

. Construction and land development:
. Q1-2009 566.9 B
. Q4-2008 590.9 B
. Q4-2007 629.5 B

. 1-4 family residential properties:
. Q1-2009 2,719.6 B
. Q4-2008 2,713.5 B
. Q4-2007 2,852.9 B

. Commercial real estate:
. Q1-2009 1,076.9 B
. Q4-2008 1,066.1 B
. Q4-2007 968.7 B

———————

Those figures are from the FDIC; is that a reliable enough source for ya? Those stats are UGLY, and getting worse. No bottom here, just a snowball gathering mass.

RealtyTrac under-reports. Properties pop-up and disapear for all sorts of reasons. I saw a house that has been empty for 6 months pop up on RT as preforeclosure and then two weeks later completely disapear from RT. Reason this time?The auction at the courthouse was postponed; the people stopped paying on it a 1.5 years ago and left 6 months ago, yet no foreclosure service shows this house. Its clearly not in the running for a loan mod.

RT are usually really quick at delisting a property once its status changes. Watch a foreclosure on RT that goes to one of those bogus REDC auctions. After the auction date the house will likely disappear from RT, sold or not.

I’m guessing you look at RT and see that Temecula is imploding and simply can’t believe so many people are not paying their mortgage. Temecula was not the first choice of many who live there, they settled because it was what they could afford during the bubble years. So its reasonable that they would throw in the towel on a house underwater by $200k before a guy in SD would.

Why keep paying when you can jingle-mail and start to save up to buy in SD when prices drop way below what they owed in Temecula?

Stop paying in TV in 2008, live free and save $2000. a month for 18 months (gives you $36k for a down), watch as SD RE values plummet for years and then jump back in 2013 when the foreclosure drops off your credit report. I bet they won’t have to wait that long as banks will have to practice foreclosure forgiveness or lose a big, BIG chunk of potential home buyers going forward.

[temeculaguy]

I don’t understand the FDIC stats so I can’t use them. Are they cumulative? Are they national? If something is 150 billion in 2008 and 160 billion in 2009, was there an additional 10 billion or 160 billion of new nonperforming assets. Since I can’t answer that question, even by visiting the website linked I don’t know how to interpret it.

BTW, none of this had to do with my hood, why you going there, again. I read the tea leaves, they are giving me conflicting signs, we got the owner of one of the biggest data sites to post and I wanted to ask some questions, that’t it. Your arguments are stuck in 2007, I made them then, pay very close attention, things can shift, they may very well be shifting, put that hammer away and you might see more than just nails sticking out.

[temeculaguy]

I don’t understand the FDIC stats so I can’t use them. Are they cumulative? Are they national? If something is 150 billion in 2008 and 160 billion in 2009, was there an additional 10 billion or 160 billion of new nonperforming assets. Since I can’t answer that question, even by visiting the website linked I don’t know how to interpret it.

BTW, none of this had to do with my hood, why you going there, again. I read the tea leaves, they are giving me conflicting signs, we got the owner of one of the biggest data sites to post and I wanted to ask some questions, that’t it. Your arguments are stuck in 2007, I made them then, pay very close attention, things can shift, they may very well be shifting, put that hammer away and you might see more than just nails sticking out.

[temeculaguy]

I don’t understand the FDIC stats so I can’t use them. Are they cumulative? Are they national? If something is 150 billion in 2008 and 160 billion in 2009, was there an additional 10 billion or 160 billion of new nonperforming assets. Since I can’t answer that question, even by visiting the website linked I don’t know how to interpret it.

BTW, none of this had to do with my hood, why you going there, again. I read the tea leaves, they are giving me conflicting signs, we got the owner of one of the biggest data sites to post and I wanted to ask some questions, that’t it. Your arguments are stuck in 2007, I made them then, pay very close attention, things can shift, they may very well be shifting, put that hammer away and you might see more than just nails sticking out.

[temeculaguy]

I don’t understand the FDIC stats so I can’t use them. Are they cumulative? Are they national? If something is 150 billion in 2008 and 160 billion in 2009, was there an additional 10 billion or 160 billion of new nonperforming assets. Since I can’t answer that question, even by visiting the website linked I don’t know how to interpret it.

BTW, none of this had to do with my hood, why you going there, again. I read the tea leaves, they are giving me conflicting signs, we got the owner of one of the biggest data sites to post and I wanted to ask some questions, that’t it. Your arguments are stuck in 2007, I made them then, pay very close attention, things can shift, they may very well be shifting, put that hammer away and you might see more than just nails sticking out.

[Author]

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