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84
CrazyMan
2012 Apr 1, 4:41pm
CrazyMan
2012 Apr 1, 4:41pm
Short sale, reo, it's a wash to me. More houses need to come on the market. The fact that they're being issued means people aren't making their payments. I can't see how that's meaningless. The link you posted shows 37% are foreclosed on. That's quite a bit.
85
Goran_K
2012 Apr 1, 4:58pm
Goran_K
2012 Apr 1, 4:58pm
Considering that the cure rate for homes that receive a NOD is about 5% for the entire nation, I'd say NOD shouldn't be ignored.
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http://www.contracostatimes.com/business/ci_20235268/buyers-compete-short-supply-homes-bay-area
quotes:
"It's amazing what's not out there right now," he said. "There are only 32 homes in the whole city of Santa Clara. We're down 74 percent from February 2011."
"I think it's a little bit like Christmas," said Safran of the Contra Costa Association of Realtors. "People finally started buying again this Christmas when they hadn't bought for three years. I think they're just ready. It's time."
Some would-be sellers on the Peninsula seem to be holding out until next year, when Facebook's newly minted millionaires will begin spending their money, potentially driving up prices even more.
Sellers are "getting greedy" and pulling homes off the market, said Alex H. Wang of Rainmaker Sereno Group's Palo Alto office. "They get multiple offers on their house and say, 'I don't want to sell anymore. I'll wait until next year.' That upsets everybody."
#housing