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.

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