Surprising facts about Northwood and Northpark

Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...
 
[quote author="RoLar_USC" date=1252806828]Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...</blockquote>


If I were losing 100's of thousands of dollars on my home sale, I would feel "distressed", whether I have a loan balance greater than the price would be irrelevant. I would still be losing money.



Are you and skipper dad at an open house together? You guys are like a tag team today. It's kinda cute.
 
[quote author="RoLar_USC" date=1252806828]Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...</blockquote>


Just waiting for an answer on what was counted. Did he look up the finance data?



Simple fact, he said 31 of 39 are not distressed listings. So 8 are distressed listings. Yet a simple scan of Redfin showed 11 listings flagged as short sales currently on market.



He said 13 are or were short sales. Again, 11 are currently listed. So did only 2 sell?



If you bought for $200,000 more than you're selling if for today, does it matter if your distressed selling or not if you've already put it up for sale? IMHO, it's even worse, you've lost $200K and it's so bad that you would rather to realize the loss instead of keeping the home.



Maybe IR will treat us, I don't think Northpark is that big of a place and our selection criteria breaks it down to pretty much detached SFR's over 2000sf. An analysis of the current outstanding home loans & Helocs compared to home value at the August average $/sf price could be really interesting. Either everybody has plenty of equity or they don't.
 
[quote author="graphrix" date=1252807092][quote author="RoLar_USC" date=1252806828]Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...</blockquote>


If I were losing 100's of thousands of dollars on my home sale, I would feel "distressed", whether I have a loan balance greater than the price would be irrelevant. I would still be losing money.



Are you and skipper dad at an open house together? You guys are like a tag team today. It's kinda cute.</blockquote>


You can feel however you want to feel. It doesn't change the fact that you're openly trying to change the definition of terms now to prove your point. Are you in your basement by yourself? Thinking about holding my hand still? It's kinda creepy.
 
[quote author="No_Such_Reality" date=1252817095][quote author="RoLar_USC" date=1252806828]Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...</blockquote>


Just waiting for an answer on what was counted. Did he look up the finance data?



Simple fact, he said 31 of 39 are not distressed listings. So 8 are distressed listings. Yet a simple scan of Redfin showed 11 listings flagged as short sales currently on market.



He said 13 are or were short sales. Again, 11 are currently listed. So did only 2 sell?



If you bought for $200,000 more than you're selling if for today, does it matter if your distressed selling or not if you've already put it up for sale? IMHO, it's even worse, you've lost $200K and it's so bad that you would rather to realize the loss instead of keeping the home.



Maybe IR will treat us, I don't think Northpark is that big of a place and our selection criteria breaks it down to pretty much detached SFR's over 2000sf. An analysis of the current outstanding home loans & Helocs compared to home value at the August average $/sf price could be really interesting. Either everybody has plenty of equity or they don't.</blockquote>


I counted 50 properties that had a NOD or NTS in Northpark. So it appears there are quite a few more than 11 or 13 "distressed" properties in Northpark. But the loan mod fairy will save 90% of them, right?
 
[quote author="No_Such_Reality" date=1252817095][quote author="RoLar_USC" date=1252806828]Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...</blockquote>


Just waiting for an answer on what was counted. Did he look up the finance data?



Simple fact, he said 31 of 39 are not distressed listings. So 8 are distressed listings. Yet a simple scan of Redfin showed 11 listings flagged as short sales currently on market.



He said 13 are or were short sales. Again, 11 are currently listed. So did only 2 sell?



<strong>If you bought for $200,000 more than you're selling if for today, does it matter if your distressed selling or not if you've already put it up for sale? IMHO, it's even worse, you've lost $200K and it's so bad that you would rather to realize the loss instead of keeping the home.

</strong>

Maybe IR will treat us, I don't think Northpark is that big of a place and our selection criteria breaks it down to pretty much detached SFR's over 2000sf. An analysis of the current outstanding home loans & Helocs compared to home value at the August average $/sf price could be really interesting. Either everybody has plenty of equity or they don't.</blockquote>


Well put, I agree.
 
[quote author="graphrix" date=1252818039][quote author="No_Such_Reality" date=1252817095][quote author="RoLar_USC" date=1252806828]Are you really counting every property listed now for less than it was purchased for as a distressed property now, without checking loan balances? Feels like the "shadow inventory" thread all over again...</blockquote>


Just waiting for an answer on what was counted. Did he look up the finance data?



Simple fact, he said 31 of 39 are not distressed listings. So 8 are distressed listings. Yet a simple scan of Redfin showed 11 listings flagged as short sales currently on market.



He said 13 are or were short sales. Again, 11 are currently listed. So did only 2 sell?



If you bought for $200,000 more than you're selling if for today, does it matter if your distressed selling or not if you've already put it up for sale? IMHO, it's even worse, you've lost $200K and it's so bad that you would rather to realize the loss instead of keeping the home.



Maybe IR will treat us, I don't think Northpark is that big of a place and our selection criteria breaks it down to pretty much detached SFR's over 2000sf. An analysis of the current outstanding home loans & Helocs compared to home value at the August average $/sf price could be really interesting. Either everybody has plenty of equity or they don't.</blockquote>


I counted 50 properties that had a NOD or NTS in Northpark. So it appears there are quite a few more than 11 or 13 "distressed" properties in Northpark. But the loan mod fairy will save 90% of them, right?</blockquote>


Read, graphhopper:



"Of the 94 properties over $750,000 currently on the market or sold in 2009 in both of these locales...."
 
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