About the guy who put this all together: I started this blog/site to show a couple of friends the total count of foreclosures by Countrywide. I kept going to Countrywide's website (along with other places) looking for an REO and was frustrated by the way the listings were presented. After noticing a rapid rate of acceleration in foreclosure inventory, I decided to crawl their site and organize the listings. I'd like to thank everyone blogging about the housing bubble who literally saved me from buying an overpriced house a couple of years ago and got me interested in our economy. Let's hope this doesn't end up as badly as some are predicting and that the "American Dream" remains within our hearts for centuries to come!
8 Comments on Countrywide Foreclosures As of 03/31/2007
A median Asking??? Price of $105,000???, nationwide???
Are these $$ figures for the homes that currently IN some stage of pre-foreclosure (i.e. before the sheriff's sale)... or are they the average principal balances still owed on the homes in some stage of foreclosure?
Or. are they the current Average Listing Prices of homes that have already been foreclosed upon and now in some stage of REO sales??
With an average List Price of $105,000, these foreclosures must either be sub-prime loans in lower-end market areas, or Home-Equity based loans of 80% LTV, or less....
In most markets, $105,000 wont ene buy you a decent lot, let alone a home...
Any way you slice it... it looks like Countrywide is in serious trouble...
Wow, this is amazing information! Good job. My hat is totally off to you. I would love to see how this looks for Santa Clara County (where I live, Silicon Valley) too.
Mary:If you click on the state you can find the information for all areas that have foreclosures, they're listed by city.
Paul: The median price is a nationwide media, these are the homes that have been foreclosed upon an are either short sale listed on going to bid on the courthouse steps. The homes are OWNED by Countrywide.
Does this list include houses that have gone to auction? If so, the Michigan list is missing a house in Mayville. I was hoping to find out more information on the property in Michigan. At what point do houses get auctioned (instead of listed with a real estsate)?
Any idea what a reasonable percentage offer would be on a Countrywide foreclosure in Vegas? i.e. Sold for 407K in March 2006 asking 225K. 10% less than asking? 20% less? Realize this is not a lot to go on but any wild guess might be a help. Thanks.
Ed Brophy - Mortgage Consultant
;)
;)
A median Asking??? Price of $105,000???, nationwide???
Are these $$ figures for the homes that currently IN some stage of pre-foreclosure (i.e. before the sheriff's sale)... or are they the average principal balances still owed on the homes in some stage of foreclosure?
Or. are they the current Average Listing Prices of homes that have already been foreclosed upon and now in some stage of REO sales??
With an average List Price of $105,000, these foreclosures must either be sub-prime loans in lower-end market areas, or Home-Equity based loans of 80% LTV, or less....
In most markets, $105,000 wont ene buy you a decent lot, let alone a home...
Any way you slice it... it looks like Countrywide is in serious trouble...