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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I assume you mean K, M is for millions (nt) ... YES!!! Posted by Jerry - Ca. on September 22, 2006 at 1:27 PM In Reply to: I assume you mean K, M is for millions (nt) posted by JK (the other JK) on September 22, 2006 at 11:29 AM : : : : : : Why is it professed that everything will be great at the trustee sales when the market drops. Even now almost all homes are going REO due to no equity. Why are trustee sales going to get better when prices fall further. There will be a "paucity" of buyers because there are very few deals with equity to be had and the very rare deals that come along will still have the mainstays ("pros") all over them. (LA County) Maybe other methods will be much more rewarding in a down market. (REO's, shortsales) If there is no equity due to over leveraged properties combined with reduced values, throw in benes that are aggressively protecting their positions at the sales What makes trustee sales so attractive in this cureent and future scenario? Respectfully, Bob: =============================================== : : : : : : Does anyone have a handle on what percentage of FMV properties are selling for at Auction these days in San Diego, Orange County and Riverside? : : : : : : Thanks... : : : : : In San Diego, almost every property is going back to : : : : : the Bene aka Bank(even though Ward will tell you it did not belong to the Bene in the first place.) : : : : : Sure hope that changes soon. : : ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : Bob: : : You say "almost every property is going back to the Bene aka Bank". On today's TDS : : list from County Records Service (09/22/06) for San Diego County they're are thirteen : : (13) properties going to sale with Junior loans that will be wiped out by the sale of : : the Senior trustee sale with the following (Jr. Bene.)amounts: $81M,$76M,$49M,$140M, : : $128M,$298M,$107M,$84M,$85M,$84M.$170M,$90m, and $132M.!!! : : While the default owners have no equity ... there's plenty of deals when you wipe out : : the Junior loans ... as long as the "idiots" don't over bid at the auctions! : : I do totally agree with your opinion with respect to default properties. I've been : : mailing them with little to no response ... maybe because almost all of them are : : upside-down financially in their ptoperties! : : Jerry Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : : : : : Why is it professed that everything will be great at the trustee sales when the market drops. Even now almost all homes are going REO due to no equity. Why are trustee sales going to get better when prices fall further. There will be a "paucity" of buyers because there are very few deals with equity to be had and the very rare deals that come along will still have the mainstays ("pros") all over them. (LA County) Maybe other methods will be much more rewarding in a down market. (REO's, shortsales) If there is no equity due to over leveraged properties combined with reduced values, throw in benes that are aggressively protecting their positions at the sales What makes trustee sales so attractive in this cureent and future scenario? Respectfully, Bob: =============================================== : : : : : : : Does anyone have a handle on what percentage of FMV properties are selling for at Auction these days in San Diego, Orange County and Riverside? : : : : : : : Thanks... : : : : : : In San Diego, almost every property is going back to : : : : : : the Bene aka Bank(even though Ward will tell you it did not belong to the Bene in the first place.) : : : : : : Sure hope that changes soon. : : : ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ : : : Bob: : : : You say "almost every property is going back to the Bene aka Bank". On today's TDS : : : list from County Records Service (09/22/06) for San Diego County they're are thirteen : : : (13) properties going to sale with Junior loans that will be wiped out by the sale of : : : the Senior trustee sale with the following (Jr. Bene.)amounts: $81M,$76M,$49M,$140M, : : : $128M,$298M,$107M,$84M,$85M,$84M.$170M,$90m, and $132M.!!! : : : While the default owners have no equity ... there's plenty of deals when you wipe out : : : the Junior loans ... as long as the "idiots" don't over bid at the auctions! : : : I do totally agree with your opinion with respect to default properties. I've been : : : mailing them with little to no response ... maybe because almost all of them are : : : upside-down financially in their ptoperties! : : : Jerry Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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