Southern California MLS Inventory Grows

Dr. Housing Bubble is reporting a lot of real estate inventory in Southern CA is going to MLS finally

Downtown Los Angeles
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Southern California’s  MLS inventory is growing, thanks to distressed homes.  That’s from a report coming in from Dr. Housing Bubble, one of our most fav blogs.

Dr. Housing Bubble says that these distressed homes were supposed to have been put in a loan modification program called HAMP. The ambitious plan was to help upwards of 4 million distressed homeowners but it didn’t reach anywhere near that goal.

What do you do with all that inventory that is now piling up?

How about the good ole MLS?

So these properties are in the MLS now but does that mean prices will come down soon?

Read Dr. Housing Bubble’s detailed analysis of the Southern California housing market opportunities.

Bank scrapped new lease MODEL HOMES-housing market collapse | Poztman

Development UPDATES: Another bank begins to destroy 20 homes in Temecula in Southern California. New homes by editor Patrick Thatcher for the Victorville Daily Press-L’effondrement accommodation takes the form of a literal demolished an …

Real Estate: Inventory of Unsold Homes Growing Steadily Across the …

The nation’s inventory of unsold homes – an important component of a more balanced housing market in the second half of 2005 – is growing steadily in many areas of the country even though buyer demand continues strong, according to … The percentage of member real estate agents reporting plentiful vs. limited supplies increased from 33% in the first quarter to 38% in April, May and June. Exceptions would be South Florida, Arizona, Southern California and certain other …

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Curbed NY Tells Tale of Tenants Getting Even with Unpopular Landlords

Don’t make your tenant too mad. They can get revenge on Facebook.

Image representing Curbed as depicted in Crunc...
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Curbed NY has some interesting news. I was struck by the New York City landlords who aren’t  real popular with their tenants.  Now some of those unhappy  tenants have put up a Facebook Group that is not quite complimentary.  Whoops.

Just goes to prove you need to have as good a working relationship as you can have with your tenants because these days with all that Tweeting and texting on phones, etc. you might get some very unwanted publicity.

I have no idea what the real story is behind the “I Hate _____” facebook group, but if you try to treat your tenants fairly they will most likely bring you new tenants.  That has been the best kind of advertising for us.

Read Curbed’s Post about unpopular landlords

Curbed also has some more interesting New York real estate news such as more of his curbed marketplace showing us what apartments in Manhattan are renting and selling for.

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Dr. Housing Bubble Talks About Foreclosures

Dr. Housing Bubble is at it again. This time he is reporting on Washington’s halt of foreclosures.

Dr. Housing Bubble, the blogger who correctly predicted the current housing crisis, has a detailed report in which he compares the national housing crisis to what Southern California has been going through. 

He point out “lenders have backed off on forced evictions, allowing many to remain in their homes, essentially rent-free.”

He thinks the government is putting pressure on the banks not to foreclose and to modify loans.  He says  this hurts everyone who is paying their mortgages. 

Could he be right? 

One point we have always made is that real estate is local, not national.  However, with Washington getting more and more involved that could possibly be  changing the local landscapes concerning the banks.

Read more of Dr. Housing Bubble’s shocking analysis. 

8 Kinds of Foreclosures

A foreclosure is not just a foreclosure. Get more info about the different types such as 1st lien note, judgement, and mechanics lien.

A foreclosure is not just a foreclosure. Here is a well defined list of 8 different types of foreclosures in Texas, but they can give you a general idea of what you may be coming across as you do some deals.
(Remember each state is different and these definitions are not legal advice.)
Types of Foreclosure in Texas by Business Making Money

Here’s another interesting foreclosure market article about a recent Zillow study and what they discovered concerning how foreclosures affect the general market.  It also lists the city with the best foreclosure “bargains”

Foreclosure Home Prices 28% Lower, Form ‘Distinct Market …

However cheap foreclosures may be, it is advisable for one to be careful while choosing on a home. Among the many foreclosure homes, a bank owned foreclosure is the most secure property one can invest in fearing no risks. …

Foreclosure Connections Blog Articles And Foreclosure Information …

How To Buy A Lender REO Foreclosure

Foreclosures Causing More Problems in Upscale Neighborhoods

Foreclosures and empty mansions are getting into the party scene as some are now being used for wild late night frivolity

foreclosure partiesForeclosures  are causing more trouble in upscale neighborhoods.

Now it’s party time, apparently.

A  manse in  the Atlanta area that has been on the market for two years was the scene of a such a large party  the police had to order taxis to transport all the guests back to their cars parked at a local grocery store.

A heads up for real estate agents and property owners is that some party givers are looking at the houses and pretending to be interested buyers.

While the realtor is being distracted one of the “buyers” opens up a window to make sure they can come back and get into the house later.  Then they invite their guests to join them during late night hours.  Many of these guests pay to come.

Read Parties At Vacant Houses