![]() 9056 Lismore Dr Elk Grove, CA 95624 |
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![]() 11836 Delavan Cir Rancho Cordova, CA 95742 |
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![]() 9821 Trailhead Ct Wilton, CA 95693 |
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![]() 11887 Delavan Cir Rancho Cordova, CA 95742 |
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![]() 5122 Harston Way Antelope, CA 95843 |
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![]() 1963 Richfield Way Sacramento, CA 95832 |
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![]() 10370 Frank Greg Way Elk Grove, CA 95757 |
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![]() 7453 Telegraph Ave Orangevale, CA 95662 |
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![]() 10372 Via Cinta Ct Elk Grove, CA 95757 |
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![]() 7717 Victory Ave Sacramento, CA 95828 |
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![]() 6325 Castro Verde Way Elk Grove, CA 95757 |
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![]() 9582 Nordman Way Elk Grove, CA 95624 |
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![]() 8130 Ackerson Way Antelope, CA 95843 |
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![]() 10040 Shana Way Elk Grove, CA 95757 |
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![]() 10189 Blossom Ridge Dr Elk Grove, CA 95757 |
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![]() 7669 Sunset Ave Fair Oaks, CA 95628 |
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![]() 6521 Oscar Cir Elk Grove, CA 95757 |
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![]() 1933 Bastona Dr Elk Grove, CA 95758 |
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![]() 10224 Jenny Lynn Way Elk Grove, CA 95757 |
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![]() 9665 Amber Waves Way Elk Grove, CA 95624 |
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![]() 411 46th St Sacramento, CA 95819 |
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![]() 4437 Anatolia Dr Rancho Cordova, CA 95742 |
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![]() 5103 Dodson Ln Sacramento, CA 95835 |
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![]() 10049 Prairie Dunes Way Sacramento, CA 95829 |
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![]() 15 Lori Ct Sacramento, CA 95831 |
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![]() 15007 Guadalupe Dr Rancho Murieta, CA 95683 |
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![]() 8966 Haflinger Way Elk Grove, CA 95757 |
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![]() 4804 Yosemite Ave Sacramento, CA 95820 |
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![]() 5511 Borce Ct Elk Grove, CA 95757 |
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![]() 7824 Jacinto Rd Elk Grove, CA 95758 |
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![]() 5111 Fredericksburg Way Sacramento, CA 95835 |
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![]() 7148 Mariposa Ave Citrus Heights, CA 95610 |
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![]() 7204 Ackley Dr Elk Grove, CA 95757 |
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![]() 7489 24th St Sacramento, CA 95822 |
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![]() 1952 Dawnelle Way Sacramento, CA 95835 |
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![]() 9462 Sea Cliff Way Elk Grove, CA 95758 |
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![]() 8873 Boreal Way Elk Grove, CA 95758 |
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![]() 9976 Pinot Gold Pl Elk Grove, CA 95624 |
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![]() 6415 Valenda Ct Elk Grove, CA 95757 |
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![]() 261 Anjou Cir Sacramento, CA 95835 |
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![]() 7775 19th St Sacramento, CA 95832 |
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![]() 5362 Long Canyon Dr Fair Oaks, CA 95628 |
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![]() 7430 Blackthorne Way Citrus Heights, CA 95621 |
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![]() 10082 Cristo Dr Sacramento, CA 95829 |
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![]() 5528 Deepdale Way Elk Grove, CA 95758 |
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![]() 7219 Ovar Ct Elk Grove, CA 95757 |
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![]() 1025 bay shore Dr Galt, CA 95632 |
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![]() 9226 Bearint Way Elk Grove, CA 95758 |
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![]() 10125 Sorenstam Dr Sacramento, CA 95829 |
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![]() 5140 LOCUST Ave Carmichael, CA 95608 |
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Sum of Losses: $69,107,831
5 comments :
There is no sign of any bottom in this market. Add three more houses to the FIT list this week, which is the smallest increase we have seen. However, this is probably due to many houses dropping off the list, since it only goes back 24 months. Unsold houses 25 months old no longer show up on the FIT rolls.
The really telling stat this week is the increase of the economic losses. There were only 3 more houses added to the FIT list, but $2,500,000 in additional losses.
Is there any way to adjust the flipper formula? I think we need to start looking for homes underwater after 3 and 4 years.
Gwynster is right, in a sense. If adjustable rate mortgages adjust after two years, it takes several more months to get the foreclosure process going (file NOD... wait, then the NOT, then the trustee's sale), and then another few months for the bank to prep the property for sale. Considering that subprime / foreclosures are what's driving the inventory bump, then it takes well over two years to capture the foreclosures.
Of course, the counterargument is that this blog is meant to point out flippers - that is investors who wanted to quickly turn around properties.
Die. Flipper. Scum.
After reading some stories and news accounts about David Crisp from Bakersfield and the alleged fraud that took place, I wonder how many of these loses are the result of fraud (phony sales using loans obtained with inflated appraisals that nobody ever intended on paying back). Very few? Lots? Only the homes with the largest losses?
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