[Effective Demand]

[quote=recordsclerk]
You should provide this info on your blog.[/quote]

I’m uncomfortable with doing so for various reasons. Also when I said servicer, I meant trustee (many servicers use the same trustee and I brain farted).

But I will say I have done the analysis using foreclosureradar and if you have an account all the information is there at your disposal. You have the trustee and the lender and can see which combinations get the most third party sales.. That will tell you who is pricing under market (with a bit of market knowledge, you can figure out by how much..). You have the ones that don’t get a lot of 3rd party sales and those are probably the middle group who price at market value or whatever is owed, whichever is less and those 3rd party sales are either a bad BPO or a low first lien amount. And then you have certain combinations which basically get zero 3rd party sales.

While I think it is tough to pin down when any one property will come up for bid (postponements and all that), I think it is possible to ballpark the opening bid quite well.

[Effective Demand]

[quote=recordsclerk]
You should provide this info on your blog.[/quote]

I’m uncomfortable with doing so for various reasons. Also when I said servicer, I meant trustee (many servicers use the same trustee and I brain farted).

But I will say I have done the analysis using foreclosureradar and if you have an account all the information is there at your disposal. You have the trustee and the lender and can see which combinations get the most third party sales.. That will tell you who is pricing under market (with a bit of market knowledge, you can figure out by how much..). You have the ones that don’t get a lot of 3rd party sales and those are probably the middle group who price at market value or whatever is owed, whichever is less and those 3rd party sales are either a bad BPO or a low first lien amount. And then you have certain combinations which basically get zero 3rd party sales.

While I think it is tough to pin down when any one property will come up for bid (postponements and all that), I think it is possible to ballpark the opening bid quite well.

[Effective Demand]

[quote=recordsclerk]
You should provide this info on your blog.[/quote]

I’m uncomfortable with doing so for various reasons. Also when I said servicer, I meant trustee (many servicers use the same trustee and I brain farted).

But I will say I have done the analysis using foreclosureradar and if you have an account all the information is there at your disposal. You have the trustee and the lender and can see which combinations get the most third party sales.. That will tell you who is pricing under market (with a bit of market knowledge, you can figure out by how much..). You have the ones that don’t get a lot of 3rd party sales and those are probably the middle group who price at market value or whatever is owed, whichever is less and those 3rd party sales are either a bad BPO or a low first lien amount. And then you have certain combinations which basically get zero 3rd party sales.

While I think it is tough to pin down when any one property will come up for bid (postponements and all that), I think it is possible to ballpark the opening bid quite well.

[Effective Demand]

[quote=recordsclerk]
You should provide this info on your blog.[/quote]

I’m uncomfortable with doing so for various reasons. Also when I said servicer, I meant trustee (many servicers use the same trustee and I brain farted).

But I will say I have done the analysis using foreclosureradar and if you have an account all the information is there at your disposal. You have the trustee and the lender and can see which combinations get the most third party sales.. That will tell you who is pricing under market (with a bit of market knowledge, you can figure out by how much..). You have the ones that don’t get a lot of 3rd party sales and those are probably the middle group who price at market value or whatever is owed, whichever is less and those 3rd party sales are either a bad BPO or a low first lien amount. And then you have certain combinations which basically get zero 3rd party sales.

While I think it is tough to pin down when any one property will come up for bid (postponements and all that), I think it is possible to ballpark the opening bid quite well.

[Effective Demand]

[quote=recordsclerk]
You should provide this info on your blog.[/quote]

I’m uncomfortable with doing so for various reasons. Also when I said servicer, I meant trustee (many servicers use the same trustee and I brain farted).

But I will say I have done the analysis using foreclosureradar and if you have an account all the information is there at your disposal. You have the trustee and the lender and can see which combinations get the most third party sales.. That will tell you who is pricing under market (with a bit of market knowledge, you can figure out by how much..). You have the ones that don’t get a lot of 3rd party sales and those are probably the middle group who price at market value or whatever is owed, whichever is less and those 3rd party sales are either a bad BPO or a low first lien amount. And then you have certain combinations which basically get zero 3rd party sales.

While I think it is tough to pin down when any one property will come up for bid (postponements and all that), I think it is possible to ballpark the opening bid quite well.

[Effective Demand]

[quote=UCGal]Do you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?

I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.[/quote]

I dont believe bids have changed much I think what you see as far as third party participation is a reflection of the strength of the market on the low end and the limited inventory. Once prices firmed up a bit it is much easier for people to zero in on values and therefore make bids. I think in some areas the investors are overdoing it (OC) but I really dont know the area well so I could be very wrong.

With good enough data (knowing the servicer and who owns the loan) you can basically ballpark the opening bid pretty well. Some servicer+investor combos set opening bid at what is owed (not too common), others set it at market value (pretty common) and others still set it at market value minus some fixed percentage.

The investor activity is mainly concentrated in the last category with the second category getting action when there is a bad BPO and price comes in low.

[Effective Demand]

[quote=UCGal]Do you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?

I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.[/quote]

I dont believe bids have changed much I think what you see as far as third party participation is a reflection of the strength of the market on the low end and the limited inventory. Once prices firmed up a bit it is much easier for people to zero in on values and therefore make bids. I think in some areas the investors are overdoing it (OC) but I really dont know the area well so I could be very wrong.

With good enough data (knowing the servicer and who owns the loan) you can basically ballpark the opening bid pretty well. Some servicer+investor combos set opening bid at what is owed (not too common), others set it at market value (pretty common) and others still set it at market value minus some fixed percentage.

The investor activity is mainly concentrated in the last category with the second category getting action when there is a bad BPO and price comes in low.

[Effective Demand]

[quote=UCGal]Do you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?

I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.[/quote]

I dont believe bids have changed much I think what you see as far as third party participation is a reflection of the strength of the market on the low end and the limited inventory. Once prices firmed up a bit it is much easier for people to zero in on values and therefore make bids. I think in some areas the investors are overdoing it (OC) but I really dont know the area well so I could be very wrong.

With good enough data (knowing the servicer and who owns the loan) you can basically ballpark the opening bid pretty well. Some servicer+investor combos set opening bid at what is owed (not too common), others set it at market value (pretty common) and others still set it at market value minus some fixed percentage.

The investor activity is mainly concentrated in the last category with the second category getting action when there is a bad BPO and price comes in low.

[Effective Demand]

[quote=UCGal]Do you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?

I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.[/quote]

I dont believe bids have changed much I think what you see as far as third party participation is a reflection of the strength of the market on the low end and the limited inventory. Once prices firmed up a bit it is much easier for people to zero in on values and therefore make bids. I think in some areas the investors are overdoing it (OC) but I really dont know the area well so I could be very wrong.

With good enough data (knowing the servicer and who owns the loan) you can basically ballpark the opening bid pretty well. Some servicer+investor combos set opening bid at what is owed (not too common), others set it at market value (pretty common) and others still set it at market value minus some fixed percentage.

The investor activity is mainly concentrated in the last category with the second category getting action when there is a bad BPO and price comes in low.

[Effective Demand]

[quote=UCGal]Do you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?

I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.[/quote]

I dont believe bids have changed much I think what you see as far as third party participation is a reflection of the strength of the market on the low end and the limited inventory. Once prices firmed up a bit it is much easier for people to zero in on values and therefore make bids. I think in some areas the investors are overdoing it (OC) but I really dont know the area well so I could be very wrong.

With good enough data (knowing the servicer and who owns the loan) you can basically ballpark the opening bid pretty well. Some servicer+investor combos set opening bid at what is owed (not too common), others set it at market value (pretty common) and others still set it at market value minus some fixed percentage.

The investor activity is mainly concentrated in the last category with the second category getting action when there is a bad BPO and price comes in low.

[Effective Demand]

[quote=SD Realtor]You beat foreclosureforum to the punch. They usually do not post the monthly update until about the 8th day of the month.

One curiosity I have is that I would like to study the raw data. Do you obtain a list of all the properties or do you just take the totals that that they post?[/quote]

I dont download all the properties, they have a limit to the numbers you can download so I just do raw totals. I do downloads for looking in specific areas though.

[Effective Demand]

[quote=SD Realtor]You beat foreclosureforum to the punch. They usually do not post the monthly update until about the 8th day of the month.

One curiosity I have is that I would like to study the raw data. Do you obtain a list of all the properties or do you just take the totals that that they post?[/quote]

I dont download all the properties, they have a limit to the numbers you can download so I just do raw totals. I do downloads for looking in specific areas though.

[Effective Demand]

[quote=SD Realtor]You beat foreclosureforum to the punch. They usually do not post the monthly update until about the 8th day of the month.

One curiosity I have is that I would like to study the raw data. Do you obtain a list of all the properties or do you just take the totals that that they post?[/quote]

I dont download all the properties, they have a limit to the numbers you can download so I just do raw totals. I do downloads for looking in specific areas though.

[Effective Demand]

[quote=SD Realtor]You beat foreclosureforum to the punch. They usually do not post the monthly update until about the 8th day of the month.

One curiosity I have is that I would like to study the raw data. Do you obtain a list of all the properties or do you just take the totals that that they post?[/quote]

I dont download all the properties, they have a limit to the numbers you can download so I just do raw totals. I do downloads for looking in specific areas though.

[Effective Demand]

[quote=SD Realtor]You beat foreclosureforum to the punch. They usually do not post the monthly update until about the 8th day of the month.

One curiosity I have is that I would like to study the raw data. Do you obtain a list of all the properties or do you just take the totals that that they post?[/quote]

I dont download all the properties, they have a limit to the numbers you can download so I just do raw totals. I do downloads for looking in specific areas though.

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