The freakish decline in Notice of Default filings reversed itself in October. 175 filings in October, up from 80 in September and still down from 207 in August. Notices of Sale seem to be creeping up again. 139 NOS filings in October, up from 123 in September and 129 in August. Trustee’s Deeds moved upwards for the first time since April 2011. 86 TD filings in October, up from 65 in September and 79 in August. HERE is what it looks like graphically.
Of the 86 TDs, 2 were on HOA liens which really don’t count, and 4 haven’t populated on the Recorder’s site yet. Of the remaining 80 TDs, 52 went back to the banks as REOs, and 28 were bought by 3rd parties on the courthouse steps. Somewhat amazingly, NRES purchased over 2/3 (19) of the properties that went to 3rd parties. I actually question whether some of their buys were prudent – they are definitely bidding things up these days.
– I wrote about resales at the Montage a couple weeks ago. But can you “flip there? Unit 1808 was purchased for $110,000 on August 10. It is now LISTED at $127,900. That would be about a $10K net on a 3 month hold. Same owner bought unit 1907 a couple weeks later for $111,000. We’ll see if that one also shows up on the MLS.
– Want a funky loft in Midtown? 12@Deluxe is/was renting. I have a love/hate relationship with moist Haberae projects, but this one gives me the warm fuzzies. But where is the 2nd bathroom?