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Banks cut standing REO inventories by reducing new acquisitions by 50%

By golfplan18   Follow   Thu, 14 Jun 2012, 6:56am   1,585 views   20 comments
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http://ochousingnews.com/news/banks-cut-standing-reo-inventories-by-reducing-new-acquisitions-by-50

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1. golfplan18 Follow Befriend (2) 520 threads 114 comments Irvine, CA

   1   6:58am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike

2. Oil Can Follow Befriend 21 threads 128 comments Oil Can's website

   2   7:08am Thu 14 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Banks have entitled squatting. Now loan owners think it's their right to squat.

3. True Real House Sheriff Follow Befriend (1) 29 comments San Mateo, CA

   3   8:34am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   Bad news for buyers.

4. HEY YOU Follow Befriend (4) 334 threads 922 comments

   4   9:00am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   golfplan18, Thanks for the link.I might have missed it. I've been looking for a REO or resale at foreclosure prices for 19 months. The article seems to verify what I've seen on the ground in this area. There are many REOs that are still on the market due to poor condition but just recently the prices are falling on this junk. Let's set up a $1.00 pool as to when the banks will finally have to face this massive liability. ROFL

5. HEY YOU Follow Befriend (4) 334 threads 922 comments

   5   9:02am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   House Sheriff, It's made it difficult for me but I'm persistent.

6. True Real House Sheriff Follow Befriend (1) 29 comments San Mateo, CA

   6   9:08am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   HEY YOU.... I've been persistent too, but we're in limbo as far as inventory. Who thinks that supply will get better in the winter time?

7. HEY YOU Follow Befriend (4) 334 threads 922 comments

   7   9:16am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   House Sheriff, You chose the right word "limbo". I've got an agent that is as straight talking & honest as any I've met & he doesn't have an idea about what might to the market.

8. Goran_K Follow Befriend (4) 25 threads 1,523 comments Laguna Beach, CA Premium

   8   9:18am Thu 14 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   http://money.cnn.com/2012/06/14/real_estate/foreclosures/index.htm?hpt=hp_t2 Foreclosures are rising again (after hitting a low in April). Banks thought they could create a false bottom by letting people squat, but the Spring/Summer bump is already turning into a decline, and it's only June.

9. tatupu70 Follow Befriend (3) 15 threads 5,652 comments

   9   9:19am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   Goran_K says Foreclosures are rising again. Banks thought they could create a false bottom by letting people squat, but the Spring/Summer bump is already turning into a decline, and it's only June. You make me laugh. You won't see this, of course, because you "took the high ground" and ignored me, but you are almost as bad as the perma bear trolls.

10. HEY YOU Follow Befriend (4) 334 threads 922 comments

    10   9:22am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   Goran_K, I missed the 9% spike in May.

11. Goran_K Follow Befriend (4) 25 threads 1,523 comments Laguna Beach, CA Premium

    11   9:29am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   Protected   Sorry to hear that.

12. Call it Crazy Follow Befriend 229 threads 2,785 comments

    12   9:46am Thu 14 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   tatupu70 says You make me laugh. You won't see this, of course, because you "took the high ground" and ignored me, but you are almost as bad as the perma bear trolls. Oh no, here we go again with his rose colored glasses... Hey Tat, foreclosure starts are WAY UP in NJ... maybe you can get in on one of those "deals" in Scotch Plains!!

13. tatupu70 Follow Befriend (3) 15 threads 5,652 comments

    13   11:03am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   Call it Crazy says Hey Tat, foreclosure starts are WAY UP in NJ... maybe you can get in on one of those "deals" in Scotch Plains!! More likely in Plainfield or Newark... My apologies---didn't mean to ruin your groupthink moment there. My glasses are clear. What color are yours?

14. Call it Crazy Follow Befriend 229 threads 2,785 comments

    14   1:14pm Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)   tatupu70 says Call it Crazy says Hey Tat, foreclosure starts are WAY UP in NJ... maybe you can get in on one of those "deals" in Scotch Plains!! More likely in Plainfield or Newark... My apologies---didn't mean to ruin your groupthink moment there. My glasses are clear. What color are yours? It's OK, I get it... if you keep telling yourself the lie over and over again, maybe it will come true and you can buy your castle in Scotch Plains and it will grow and grow in value, and you'll retire a rich man from the investment...... Unfortunately, I have given you multiple different charts showing house values falling in that area.... you can believe the data and facts or you can believe your fantasy.... it's your choice!!!

15. tatupu70 Follow Befriend (3) 15 threads 5,652 comments

    15   1:17pm Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   Call it Crazy says Unfortunately, I have given you multiple different charts showing house values falling in that area.... you can believe the data and facts or you can believe your fantasy.... it's your choice!!! My mind is open. Unlike yours. Again--your charts of zillow home values are less than convincing. I have no idea where home prices are going and I'd be happy if I could wait and buy a home in Scotch Plains next year for 20% less than now. But, I have a hard time believing it. It's already cheaper to own than rent and inventory is very low. I know, I know, there's the boogeyman shadow inventory waiting to explode. Again--I'll believe it when I see it. I hope you are correct so I can buy next year for cheap, but I remain throroughly unconvinced.

16. ArtimusMaxtor Follow Befriend (3) 803 comments

    16   9:51am Fri 15 Jun 2012   Share   Quote   Permalink   Like   Dislike

17. tatupu70 Follow Befriend (3) 15 threads 5,652 comments

    17   9:58am Fri 15 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   Fred Flintstone says I'll help you out...... Here you go you filthy liar. Aha-- I think I see the problem. You missed the day in school where they went over verb tenses. See, the chart you posted shows where prices were at IN THE PAST. I'm more interested in where they will be IN THE FUTURE. Unless that chart of yours shows the price in 2013 or 2014, it doesn't really answer my question.

18. True Real House Sheriff Follow Befriend (1) 29 comments San Mateo, CA

    18   10:14am Fri 15 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   tatupu70 says I think I see the problem. You missed the day in school where they went over verb tenses. See, the chart you posted shows where prices were at IN THE PAST. I'm more interested in where they will be IN THE FUTURE. This excellent observation explains the inaccuracies that spouteth forth from the lips of the permatroll, a heckling creature with a limited, redundant vocabulary that quite enjoys stroking its rear view crystal ball and regaling itself with stale news.

19. True Real House Sheriff Follow Befriend (1) 29 comments San Mateo, CA

    19   10:17am Fri 15 Jun 2012   Share   Quote   Permalink   Like   Dislike   Fred Flintstone says Prices are falling. Refute it you lying realtor. Redundant vocabulary that can only be expected from the doomsday magpie.

20. ArtimusMaxtor Follow Befriend (3) 803 comments

    20   10:21am Fri 15 Jun 2012   Share   Quote   Permalink   Like   Dislike   Realty was a ground explosion and well just like anything in volitile ground what else? Part of it got swallowed not coming back anytime soon.