[peterb]

Sure looks like the govt is trying to make the train wreck a slow and somewhat managed crash. Instead of one huge and devistating drop to the floor. Hence the low interest, low down payment loans and stalling the foreclosure process.

Give away funding and dribble out the inventory. Fired-up demand and supressed supply. I guess it’s one way to attmept to control a market. But one must consider how long this can be continued? Sounds like a methodology to keep the market in kind of limbo for a long time.
Strange days, indeed.

[peterb]

Sure looks like the govt is trying to make the train wreck a slow and somewhat managed crash. Instead of one huge and devistating drop to the floor. Hence the low interest, low down payment loans and stalling the foreclosure process.

Give away funding and dribble out the inventory. Fired-up demand and supressed supply. I guess it’s one way to attmept to control a market. But one must consider how long this can be continued? Sounds like a methodology to keep the market in kind of limbo for a long time.
Strange days, indeed.

[peterb]

Sure looks like the govt is trying to make the train wreck a slow and somewhat managed crash. Instead of one huge and devistating drop to the floor. Hence the low interest, low down payment loans and stalling the foreclosure process.

Give away funding and dribble out the inventory. Fired-up demand and supressed supply. I guess it’s one way to attmept to control a market. But one must consider how long this can be continued? Sounds like a methodology to keep the market in kind of limbo for a long time.
Strange days, indeed.

[peterb]

Sure looks like the govt is trying to make the train wreck a slow and somewhat managed crash. Instead of one huge and devistating drop to the floor. Hence the low interest, low down payment loans and stalling the foreclosure process.

Give away funding and dribble out the inventory. Fired-up demand and supressed supply. I guess it’s one way to attmept to control a market. But one must consider how long this can be continued? Sounds like a methodology to keep the market in kind of limbo for a long time.
Strange days, indeed.

[peterb]

The banks usually have a few brokers they divvy out their REO’s to for sale. There’s no law that says anyone has to use a real estate broker or agent to sell a house unless one wants to utilize the agency laws in the state of CA.
The broker using the MLS eventhough they may want to do it all themselves is a way to make the transaction appear to be “arms length” in nature. The banks may also check the MLS to make sure the broker is actively marketing the houses.
You’d think that being on the MLS about 1 day before going pending would be a red flag for the banks. But they may not look nor care at that point as long as they’re getting the price they’ve been told by the BPO as “good”.

[peterb]

The banks usually have a few brokers they divvy out their REO’s to for sale. There’s no law that says anyone has to use a real estate broker or agent to sell a house unless one wants to utilize the agency laws in the state of CA.
The broker using the MLS eventhough they may want to do it all themselves is a way to make the transaction appear to be “arms length” in nature. The banks may also check the MLS to make sure the broker is actively marketing the houses.
You’d think that being on the MLS about 1 day before going pending would be a red flag for the banks. But they may not look nor care at that point as long as they’re getting the price they’ve been told by the BPO as “good”.

[peterb]

The banks usually have a few brokers they divvy out their REO’s to for sale. There’s no law that says anyone has to use a real estate broker or agent to sell a house unless one wants to utilize the agency laws in the state of CA.
The broker using the MLS eventhough they may want to do it all themselves is a way to make the transaction appear to be “arms length” in nature. The banks may also check the MLS to make sure the broker is actively marketing the houses.
You’d think that being on the MLS about 1 day before going pending would be a red flag for the banks. But they may not look nor care at that point as long as they’re getting the price they’ve been told by the BPO as “good”.

[peterb]

The banks usually have a few brokers they divvy out their REO’s to for sale. There’s no law that says anyone has to use a real estate broker or agent to sell a house unless one wants to utilize the agency laws in the state of CA.
The broker using the MLS eventhough they may want to do it all themselves is a way to make the transaction appear to be “arms length” in nature. The banks may also check the MLS to make sure the broker is actively marketing the houses.
You’d think that being on the MLS about 1 day before going pending would be a red flag for the banks. But they may not look nor care at that point as long as they’re getting the price they’ve been told by the BPO as “good”.

[peterb]

The banks usually have a few brokers they divvy out their REO’s to for sale. There’s no law that says anyone has to use a real estate broker or agent to sell a house unless one wants to utilize the agency laws in the state of CA.
The broker using the MLS eventhough they may want to do it all themselves is a way to make the transaction appear to be “arms length” in nature. The banks may also check the MLS to make sure the broker is actively marketing the houses.
You’d think that being on the MLS about 1 day before going pending would be a red flag for the banks. But they may not look nor care at that point as long as they’re getting the price they’ve been told by the BPO as “good”.

[peterb]

Listing on the MLS gives the transaction the look of legitimacy and may be required and audited as well.
Go in and tell them you want to buy from them with cash. If they think they’ll be getting both sides of an easy deal, you should get traction.
And now that the moratorium is lifted until July, they may be more inclined to do business as well.
Just a thought.

[peterb]

Listing on the MLS gives the transaction the look of legitimacy and may be required and audited as well.
Go in and tell them you want to buy from them with cash. If they think they’ll be getting both sides of an easy deal, you should get traction.
And now that the moratorium is lifted until July, they may be more inclined to do business as well.
Just a thought.

[peterb]

Listing on the MLS gives the transaction the look of legitimacy and may be required and audited as well.
Go in and tell them you want to buy from them with cash. If they think they’ll be getting both sides of an easy deal, you should get traction.
And now that the moratorium is lifted until July, they may be more inclined to do business as well.
Just a thought.

[peterb]

Listing on the MLS gives the transaction the look of legitimacy and may be required and audited as well.
Go in and tell them you want to buy from them with cash. If they think they’ll be getting both sides of an easy deal, you should get traction.
And now that the moratorium is lifted until July, they may be more inclined to do business as well.
Just a thought.

[peterb]

Listing on the MLS gives the transaction the look of legitimacy and may be required and audited as well.
Go in and tell them you want to buy from them with cash. If they think they’ll be getting both sides of an easy deal, you should get traction.
And now that the moratorium is lifted until July, they may be more inclined to do business as well.
Just a thought.

[peterb]

April, May and June…then the moratorium stops the hemmoraging. Should be interesting to see how many actually hit the market. I guess the telling tale will be the number of NOT’s on the courthouse steps. If MM is right, that number should be quite large.

[Author]

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