After sending over 8,000 postcards and knocking on hundreds of doors I have gotten just 1 short sale this year in the San Francisco east bay. Last year I did over 20. Have any of you noticed a similar slowdown?
I've also noticed that banks are not foreclosing on properties either. While the Trustee sale notice is filed - they are postponing the sale month after month. Any ideas for why this is? Is the election to blame?
Thanks in advance for your thoughts!
**********************************
like buttons
Replies
No way. Accelerating.
I'm located in Florida and my volume of files has pretty much doubled since 2011.
I think the focus of this thread got hjacked. I'm not too concerned about how accurate Foreclosure Radar is. Frankly I don't use the tool as I find getting default and NTS notices directly from the county to be much faster.
What I was interested in is whether or not you're seeing the number of short sale opportunities drying up. In the east bay the number of homes going to auction is a fraction of last year even though the number of NTS recorded are just about the same. Do you think this is an election year issue? Or are more bank granting loan mods than we think?
Steve Lis Pendens activity in my area is up 68% from same period last year.
I believe Lis Pendens is the same as Notice of Default in CA - the first notice that starts the 90 march to foreclosure. I as well see plenty of those being filed. What I don't see is the banks actually foreclosing. Foreclosures are being postponed month after month. Also, homeowner's interest in doing a short sale is way down, which I don't understand given the mortgage debt relief act is expiring in a couple of months. Somethings going on, I just can't figure it out.