[ft_chief]

Originally Posted by olecapt

January 1 inventory of REOs was 6475. At present REO inventory is 5663 and dropping fast. That is down about 12% since the first. This is SFRs only as condos have too much junk data to be useful.

Another interesting numeric is that pending are rising rapidly and are now into numbers not seen since last July/August. This is an almost cerrtain indicator of very high volumes coming in the months ahead.

Note as well that not all REOs are priced well. There are a number of REOs on the market at good but not exceptional prices. These sell very slowly like all the other reasonably priced places.

Barring some substantial and unlikely change in the market we are going to run the well priced REO inventory to nothing in the next 90 days.

Then we see what happens. Intersting times.

Is this inventory from MLS? If not can you state your source?

[nwlv]

MLS REOs and actually REOs could differ greatly. There is a lag.

[olecapt]

Originally Posted by ft_chief

Is this inventory from MLS? If not can you state your source?

MLS - it is precisely the ER and EA listings for SFRs with the REO tag set to yes for all areas listed in the MLS.

[olecapt]

Originally Posted by nwlv

MLS REOs and actually REOs could differ greatly. There is a lag.

Of course there is a lag...but it makes little difference. The actual lag is between a week and a month and exaggerates inventory in a falling REO population and understates it in rising one. Mostly it does not much.

[PinkString]

Originally Posted by Lambie

I am looking to buy a four bedroom home on Cockatiel Ave, in Aliante. I think the highschool is Legacy. Would this be a good area? I am hoping to stay in the house atleast 7 years, but I am concerned about the resale value.

Is this a good area? I just moved here about 4 months ago and dont know much about the areas. I am also concerned about the schools, from a resale standpoint. There wasnt much information for Legacy highschool on the internet.

The home is 2200 square feet, the lot about 4000 sq. ft. I believe the builder is Pulte?? But I am not sure. Assessment??? IDK The price is 148K.
The house is near Decatur and Aliante Pkwy, South of the 215.

The neighborhood looks okay. There was a house with a loud crowd in the garage, mid-day when we went to go see the house. I guess that would be a bad sign??

You mean the house is between Decatur and Aliante parkway, right? Because those two streets do not connect. Not even remotely.
Since I live in Aliante, I'd say it's a good choice. I don't have kids though and don't have to worry about the schools.
Most of the streets are named after birds or flowers in here. I'm in a neighborhood of flower names.

[tony soprano]

January foreclosures were down in most every state in the union. That's exactly what you'd expect following a two month foreclosure moratorium. The moratorium served its intent; to slow foreclosures while a solution is being worked on. It's difficult to draw an accurate conclusion on any market that's being interfered with.

[olecapt]

Originally Posted by tony soprano

January foreclosures were down in most every state in the union. That's exactly what you'd expect following a two month foreclosure moratorium. The moratorium served its intent; to slow foreclosures while a solution is being worked on. It's difficult to draw an accurate conclusion on any market that's being interfered with.

Of course. But there has been no significant increase in LV REO populaton for four or five months. So there was and is no increasing trend.

And the end of the sub-prime resets would indicate a changing of phase at this point.

[tony soprano]

Originally Posted by olecapt

Of course. But there has been no significant increase in LV REO populaton for four or five months. So there was and is no increasing trend.

Nor has it been shown that there is a decreasing trend. One month of decreasing foreclosures does not a trend make, especially when it's preceded by a two month foreclosure moratorium. That's like extrapolating your future casualty rate using data collected at the end of a two month cease fire.