We are about a third of the way into the month (7 of 22 business days). Here is how foreclosure activity is trending:
– NODs – 17 so far trending to 68 by month’s end. A 100% increase from February’s 34 filings. The bans are starting to get around AB 284, if just a little bit.
– NOSs – 63 so far this month, which would end up 263 by month end, down 13% from 263 in February.
– TDs – 63 so far, trending toward 219 for the month, down 10% from February.
The activity on the courthouse steps this week was a bit odd. The percentage of “resolved” properties (REO or sold to 3rd Parties) fell to less than 23%, the lowest number we have seen lately. Of the 131 sales scheduled this week, 67 were Postponed, 26 were Canceled, 21 went back to the banks as REOs, and only 7 sold to 3rd parties. Here are the 3rd party sales, with amount owing / opening bid / sold amount:
– 4855 Buckhaven – 461/141/399 Banks went low and ignited a bidding war.
– 801 Northwood #10 – 292/102/102 IV condo, APN 132-030-10
– 1890 Keystone – 288/76/78
– 280 Linden – 180/29/70
– 6731 Drexel – 269/104/104
– 18 Eclipse – 271/115/127
– 145 E 5th – 175/33/41
Buy Now (or be forever be a bitter renter)? I had a delightful lunch this week with a blog reader who is a first time buyer. He confirmed some of the realtor (FU spell check, I will NEVER capitalize that word) spin jive we have been hearing – inventory is way down, multiple bids on desirable properties and even on questionable ones, qualified buyer’s are getting a bit panicky. The inventory question is pretty interesting – there is virtually nothing on the MLS that is affordable (near median) where people really want to live. I think this market is about to get a lot tighter at least for the mid-term. And is it the dream of the Urban Hipsters in Midtown who are actually banking a down payments to move to a Woodland Village crapbox?
Feel the need for some comfort food? Z Pies is open and SRO at West Street Market.