Countrywide Foreclosures
Welcome to the blogosphere Dimitris!
Countrywide foreclosures are piling up. And Dimitris wrote a very useful little regex script that scrapes their website, parses out their listings and displays them on blogspot.
Data will update on a weekly basis. Stay tuned for bar charts. Visit the site. Well worth the time.
(Total Foreclosures: 5,861 CFC Asking Price: $1,012,740,063.15)
Any guesses for when it will reach 1,500,000,000?
posted by Athena @ 1:10 PM
12 Comments:
before june first.
This comment has been removed by the author.
Thank you, Athena. I was wonderfully surprised that people liked it. Looking at the referring Urls, I discovered this site and bookmarked it (I've also added it to my blog). I've been following Countrywide's foreclosures for some time now and have been amazed at how fast the inventory is piling up. I have a feeling we still have a long ways to go. Take care, Dimitris.
Although CA is predictably at the top of that list, the total number of CA foreclosures given strikes me as really low, as compared to this data source: http://tinyurl.com/2lkyko
The excel doc link provided by Foreclosures.com on that page puts CA foreclosures at 25,144 as of 1-07.
Hi Marin Explorer- to my understanding Dimistis' list are the REOs of Countrywide only- so there are additional foreclosures, but these are the ones on Countrywide's books. I do fine it interesting that there are over 40 houses in foreclosure in Sonoma Valley, but none of them show up on Dimitris' list- either Sonoma Countrywide is not reporting them, or these properties that go lender owned are owned by another lender. But it was strange that Santa Rosa and Sonoma have many foreclosures only two are on that list. I suppose it is time to run another foreclosure post.
Athena-
Ah, I get it now...thanks!
@Marin Explorer:
The article you are referring to about California foreclosures:
More than 25,000 homes were in various stages of foreclosure last month, compared to 8,753 in January 2006.
The key word is: various stages
All this means is that these homes are late in payments but have not foreclosed. Athena is correct, the list only gathers foreclosed homes currently in countrywide's inventory. Which means they could have foreclosed on more homes and have not yet listed them for sale or have sold them already. I will be tracking sales as I obtain more data from their site and will be pointing out new homes added and homes taken off the list. The challenge I face is that I just started this little project and I don't have any historical data. Looking forward though, all data is being collected now and should give a good picture of future foreclosure activity from the nation's largest lender.
Dimitris,
You're right on that "various stages" of foreclosure. If anything, the trend in that data is got my attention. And, I'm sure more is to come. Thanks for sharing your data!
So the other day a realtor left on my door one of their free pads of paper with their contact info on it. You know what I mean; we've all had these left on our door knobs. In to the pad of paper was a letter. In the letter the agent was advertising that he was cutting his commission to 3%. This is the first time I've seen that in Marin. I guess the market here needs a little kick-start.
Countrywide announced that they would be unable to make 60% of the loans on their books under the new loan guidelines.I'm also hearing a LOT of radio ads for countrywide on the radio,offering to help folks with ARMS refi to a fixed loan.good luck if you bought in the last 2 years and need to refi,100% loans are gone 80/20's are gone and now you have to demonstrate an ability to repay the loan,of all things!shocking news for many.especially the various bagholders who thought that making 100% plus,million dollar loans to people who had no ability to repay them was risk free.and the people who bought these crappy homes too,unless of course they can win the lottery,soon.
I am so sick of the BS from realtors and the "unbiased" media.
Why are there so many radio ads for refi/heloc/etc.?
It is expensive to advertise.......
How can they afford this?
Hey marinite, I dig the 3% concept.
How about 1.5%?
This whole thing is still out of control.
I am still waiting for sanity.
Marinite: In the letter the agent was advertising that he was cutting his commission to 3%.
Now if only homes drop to where they should be, I may just buy one!
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