With TARP and the Stimulus package - a trillion here... a trillion there... eventually it all starts to add up to real money. I ran across a blog yesterday that made one part of the real estate /financial market seem like a comparative bargain. As of yesterday (2/18) - you could purchase Countrywide's entire portfolio of foreclosure REO (bank-owned) properties listed on their webiste for a mere $2.5 billion dollars.
Check out Countrywide Foreclosures Blog.
It indicates that Countrywide has 15,905 properties listed for sale on their financial website. California leads the pack with 4205 of those foreclosed properties (27%) - followed by Florida with 9% of the foreclosures. Nevada and Arizona are runners-up with 6%.
This blog entry must have an automatic update. Last night - when I first looked at the blog - it showed over 20,000 foreclosures with a total listing price over $3.2 billion. I'm not sure what happened to about 5000 properties over night - but I'm hoping that they closed escrow and a new owner is preparing to move in or find a tenant!
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment