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SD Realtor
ParticipantNo typo in the current thread FLU. They had just updated the MLS after they received more offers. The timeline of them updating the MLS made it look funky.
So yeah right now they are at 14 and have countered everyone. From that point they will take the best and most qualified offer.
SD Realtor
ParticipantNo typo in the current thread FLU. They had just updated the MLS after they received more offers. The timeline of them updating the MLS made it look funky.
So yeah right now they are at 14 and have countered everyone. From that point they will take the best and most qualified offer.
SD Realtor
ParticipantNo typo in the current thread FLU. They had just updated the MLS after they received more offers. The timeline of them updating the MLS made it look funky.
So yeah right now they are at 14 and have countered everyone. From that point they will take the best and most qualified offer.
SD Realtor
ParticipantI guess I don’t take this to be much of a revelation. When a home goes to a trustee sale the second is generally wiped out. Even in a short sale the agreement by both lenders to approve a short (if there were 2 mortgages) usually the case will be a token award of a thousand bucks to the second, while the first gets the rest.
In the trustee sales the home usually conveys back to the lender for the first amount. Then the pricing of the home when it is put on the market is determined by a BPO (usually done by a broker selected by the lender) with an appraisal. Then the home gets put on the market.
The important thing will be how long the home sits on the market when it is an REO. As we saw in more distressed areas they sit longer until the lender gets his finger out of his nose and prices it more aggressively.
SD Realtor
ParticipantI guess I don’t take this to be much of a revelation. When a home goes to a trustee sale the second is generally wiped out. Even in a short sale the agreement by both lenders to approve a short (if there were 2 mortgages) usually the case will be a token award of a thousand bucks to the second, while the first gets the rest.
In the trustee sales the home usually conveys back to the lender for the first amount. Then the pricing of the home when it is put on the market is determined by a BPO (usually done by a broker selected by the lender) with an appraisal. Then the home gets put on the market.
The important thing will be how long the home sits on the market when it is an REO. As we saw in more distressed areas they sit longer until the lender gets his finger out of his nose and prices it more aggressively.
SD Realtor
ParticipantI guess I don’t take this to be much of a revelation. When a home goes to a trustee sale the second is generally wiped out. Even in a short sale the agreement by both lenders to approve a short (if there were 2 mortgages) usually the case will be a token award of a thousand bucks to the second, while the first gets the rest.
In the trustee sales the home usually conveys back to the lender for the first amount. Then the pricing of the home when it is put on the market is determined by a BPO (usually done by a broker selected by the lender) with an appraisal. Then the home gets put on the market.
The important thing will be how long the home sits on the market when it is an REO. As we saw in more distressed areas they sit longer until the lender gets his finger out of his nose and prices it more aggressively.
SD Realtor
ParticipantI guess I don’t take this to be much of a revelation. When a home goes to a trustee sale the second is generally wiped out. Even in a short sale the agreement by both lenders to approve a short (if there were 2 mortgages) usually the case will be a token award of a thousand bucks to the second, while the first gets the rest.
In the trustee sales the home usually conveys back to the lender for the first amount. Then the pricing of the home when it is put on the market is determined by a BPO (usually done by a broker selected by the lender) with an appraisal. Then the home gets put on the market.
The important thing will be how long the home sits on the market when it is an REO. As we saw in more distressed areas they sit longer until the lender gets his finger out of his nose and prices it more aggressively.
SD Realtor
ParticipantI guess I don’t take this to be much of a revelation. When a home goes to a trustee sale the second is generally wiped out. Even in a short sale the agreement by both lenders to approve a short (if there were 2 mortgages) usually the case will be a token award of a thousand bucks to the second, while the first gets the rest.
In the trustee sales the home usually conveys back to the lender for the first amount. Then the pricing of the home when it is put on the market is determined by a BPO (usually done by a broker selected by the lender) with an appraisal. Then the home gets put on the market.
The important thing will be how long the home sits on the market when it is an REO. As we saw in more distressed areas they sit longer until the lender gets his finger out of his nose and prices it more aggressively.
SD Realtor
ParticipantUnderstood…
I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.
Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.
Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.
SD Realtor
ParticipantUnderstood…
I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.
Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.
Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.
SD Realtor
ParticipantUnderstood…
I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.
Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.
Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.
SD Realtor
ParticipantUnderstood…
I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.
Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.
Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.
SD Realtor
ParticipantUnderstood…
I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.
Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.
Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.
SD Realtor
Participant4S
1/6/08
32 actives (10 shorts, 2 REO)
17 pendings (4 shorts, 1 REO)– 2 new actives listed since 12/27
– 1 of the new actives is a reo
– 4 new pendings that went pending after 12/27
– 2 previous actives went cancelled since 12/27
– 4 previous actives expired since 12/27No Solds since 12/27
****************1/6/08
92130
109 actives (1 short, 2 REO)
31 pendings (1 sHORT 4 REO10 new actives since 12/27
1 of the new actives is an REO. (Caminito Stella which as of today has 14 offers on it)
7 new pendings since 12/27
9 expireds since 12/27
4 cancelled since 12/27
4 withdrawns since 12/27
1 withdrawn was a short sale.Note that one of the REO I found on the actives in 92130 did NOT have any string in the comments. I just happened to remember seeing it as a distress sale so when I looked in the tax roll it was indeed REO. I don’t think many listings are like that but it was curious.
SD Realtor
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