[quote author="graphrix" date=1220508898][quote author="Informed_Decisions" date=1220505669][quote author="graphrix" date=1220448531][quote author="Informed_Decisions" date=1220442197]New Release: Monitoring Irvine Foreclosure Listings
Please see the first post for new data in August 2008.
Comment on ?Shadow Inventory?: It normally takes months (probably 6 to 12) for pre-foreclosure properties NOD,NTS and REO to pass many legal hurdles before they hit the resale market. Some percentage of NODs and NTSs will be reinstated before Trustee?s Sale. Technically speaking, they can?t be counted as ?inventory? until they are put on MLS, where most REO homes are marketed. Again, banks and asset managers are not in the business selling real estate; They ultimately hire brokers to do the selling. If brokers can?t sell certain properties, they end up in public auction.</blockquote>
For the love of gawd will you please read the foreclosure thread already? Your comments make it sound like we wouldn't have a clue about how long it takes to get from NOD to market. Maybe if you read the thread you would be a little more concerned about the coming inventory. BTW, the NOD to foreclosure ratio is running about 65% right now. Did you know that? You would if you read the foreclosure thread. Do yourself and everyone here a favor, get more informed about the info you can find here before you post, otherwise I will keep bagging on you until you show some respect and actually read up on who you are dealing with here.</blockquote>
Thanks for the truth about 65% conversion ratio on REO. Is it national average, or CA, OC, or just Irvine? Didn't they teach you we have 50 states. And with 50 states, you have 50 different markets. Even within Irvine, you have sub-segments of the local market. I would appreciate the specifics, or someone can be accused of mis-informing. Reading from the posts, it sounds like the sky is falling. Belive me, everyone would love to have the truth; but getting the half-truth won?t set you free, free of fear and deprivation of hope. To bring a complete balanced view of the market, it would be beneficial for the readers to access different viewpoints, to see both sides of the coin. Honestly speaking, who has the know-how and time to search and read all the posts? Newbies? Anyone here who has a full-time job and family life?
My comments were not meant to direct to anyone. I just believe readers need to know the fact, without serching and wasting valueable time reading rumors and speculations. If anyone were offended by my comments, then grow up; we live in a free world. Or maybe I forgot that someone actually own the board here.
Regarding the ?pending inventory?, readers should be concerned if lenders dumped them all at once in the market. But what are the probability of this event? If they release those REOs in an oderly manner like they do today, I won?t worry.
With all the due respects, I still won?t call a caterpillar buttetrfly until it becomes one; just so not to confuse and mis-inform anyone.</blockquote>
The answers to all your questions could be found in the foreclosure thread, but like most Realtrolls you are too lazy to read up and become informed. If you are at all interested you could and should spend the time reading that thread. You don't have to read all the posts, but at least read the posts with the stats.
And you are totally hypocritical to say when people only get the half-truth, when you are not even giving 25% of the stats to make for complete truth. That, and how dare you insult me by saying people shouldn't believe the rumors and speculation. See, if you took the freakin time to read the foreclosure thread you would know that my stats are based on facts, and I am being nice in trying to help you understand that you don't provide nearly enough info for someone to make an informed decision. Your ignorance is insulting to me and probably many of readers. You look totally clueless as to what is really going on, and you will look even more foolish as long as you keep posting your stat missing data.
Now, don't respond until you have read the entire foreclosure thread. That is your homework assignment, so get cracking.</blockquote>
I see, you were making up a number "25% stats" to make you sound credible. The reason that there were missing data in my chart is because I just started tracking Active / Pending Listings in July 08; it was impossible to take a photo shot of past events. And I didn't want to make up data to make it sould credible. I guess you just have to learn to live with limited data and be patient not to jump to conclusion. What I were trying to do is simply point out that we need to have balanced data to see the whole picture of what are happening in the market. And I have added value to the board by supplying you and the readers supplemental data that no other person ever supplied here.
Now, to a buyer in the market for 3-bedroom detached homes in Irvine, how will your stats help him/her make an informed decision? How could you advocate anyone not to buy at all without first knowing his home perference and financial circumstance? It is like the blind leading the blind. Didn't you realize there are 50 states in the nation, and theese are 50 different real estate markets; even within City of Irvine, different price range of homes have different market dynamic.
I certainly didn't make any claim that anyone should buy a home regardless market condition and their own personal circumstances. That makes you hypocritical and self-righteous. You are using double standards. Why can't you trust the readers who apparently are as smart as you are? They know how to read and assimilate every bit of data and form their own independent thoughts.
As far as I am concerned, a little local, relevant, up-to-date targeted market data is far superior to general, vague, outdated data or what-if long-shot speculations. For those who want to see how 3 bedroom detached homes are doing in Irvine, here you go.
<img src="http://teamworkhomes.com/crm/stat/stat_ir_d3_08aug.jpg" alt="" />
I sincerely didn't think anyone would get hurt by me just sharing my original research and making comments on other data's shortcoming. But if someone chooses to see the world as black or white, that would make him an egomaniac and control-freak. My best advice to him is: GROW UP, LET IT ME.