Embed Size (px)
DESCRIPTION
Short Sale, Jason Lee
Citation preview
39.2 38.4
25.4 25.023.0
20.2 19.7 19.0
11.7 11.5
7.2 7.0 6.8 5.6 5.0 4.6 4.3 3.6 3.3
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
Months Of Inventory Oct. 2007
5.6 5.0 4.6 4.3 3.6 3.31.5
0.0
5.0
17.315.9 15.4
10.4
8.4 8.2 8.1 7.9 7.8 7.5 7.4 7.1 6.6 6.1 6.0 5.85.2
4.5 4.4 4.34.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
Months Of Inventory October 2008
0.0
2.0
9.7
6.9
5.3 5.24.3
3.8 3.83.2 3.1 3.1 3.0 3.0 3.0 2.6 2.5 2.5 2.4 2.4 2.4
1.62.0
4.0
6.0
8.0
10.0
12.0
Months Of Inventory Oct. 2009
1.6
0.0
2.0
3000
4000
5000
6000
7000
Santa Clara County Mar. 1998 - Oct. 2009
Current Inventory
0
1000
2000
3000
Ma
r-9
8Ju
n-9
8S
ep
-98
De
c-9
8M
ar-
99
Jun
-99
Se
p-9
9D
ec-
99
Ma
r-0
0Ju
n-0
0S
ep
-00
De
c-0
0M
ar-
01
Jun
-01
Se
p-0
1D
ec-
01
Ma
r-0
2Ju
n-0
2S
ep
-02
De
c-0
2M
ar-
03
Jun
-03
Se
p-0
3D
ec-
03
Ma
r-0
4Ju
n-0
4S
ep
-04
De
c-0
4M
ar-
05
Jun
-05
Se
p-0
5D
ec-
05
Ma
r-0
6Ju
n-0
6S
ep
-06
De
c-0
6M
ar-
07
Jun
-07
Se
p-0
7D
ec-
07
Ma
r-0
8Ju
n-0
8S
ep
-08
De
c-0
8M
ar-
09
Jun
-09
Se
p-0
9
4000
5000
6000
7000
Santa Clara County Mar. 1998 - Oct. 2009
Closed Sales Current Inventory
0
1000
2000
3000
Ma
r-9
8Ju
n-9
8S
ep
-98
De
c-9
8M
ar-
99
Jun
-99
Se
p-9
9D
ec-
99
Ma
r-0
0Ju
n-0
0S
ep
-00
De
c-0
0M
ar-
01
Jun
-01
Se
p-0
1D
ec-
01
Ma
r-0
2Ju
n-0
2S
ep
-02
De
c-0
2M
ar-
03
Jun
-03
Se
p-0
3D
ec-
03
Ma
r-0
4Ju
n-0
4S
ep
-04
De
c-0
4M
ar-
05
Jun
-05
Se
p-0
5D
ec-
05
Ma
r-0
6Ju
n-0
6S
ep
-06
De
c-0
6M
ar-
07
Jun
-07
Se
p-0
7D
ec-
07
Ma
r-0
8Ju
n-0
8S
ep
-08
De
c-0
8M
ar-
09
Jun
-09
Se
p-0
9
750,000
850,000
950,000
1,050,000
3000
4000
5000
6000
7000
Santa Clara County Mar. 1998 - Oct. 2009
Closed Sales Current Inventory Average Sales Price
350,000
450,000
550,000
650,000
0
1000
2000
3000
Ma
r-9
8Ju
n-9
8S
ep
-98
De
c-9
8M
ar-
99
Jun
-99
Se
p-9
9D
ec-
99
Ma
r-0
0Ju
n-0
0S
ep
-00
De
c-0
0M
ar-
01
Jun
-01
Se
p-0
1D
ec-
01
Ma
r-0
2Ju
n-0
2S
ep
-02
De
c-0
2M
ar-
03
Jun
-03
Se
p-0
3D
ec-
03
Ma
r-0
4Ju
n-0
4S
ep
-04
De
c-0
4M
ar-
05
Jun
-05
Se
p-0
5D
ec-
05
Ma
r-0
6Ju
n-0
6S
ep
-06
De
c-0
6M
ar-
07
Jun
-07
Se
p-0
7D
ec-
07
Ma
r-0
8Ju
n-0
8S
ep
-08
De
c-0
8M
ar-
09
Jun
-09
Se
p-0
9
1818
3151
2000
2500
3000
3500Santa Clara County Jan. 7th, 2009
1156
760 797 858
201
489
847
0
500
1000
1500
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned Short Sales Regular
2583 2622
1270
1739
1500
2000
2500
3000
Santa Clara County November 16, 2009
224
503
741659
546
1270
0
500
1000
1500
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned Short Sales Regular
1156760 797
1818
858201
3151
489847
0
1000
2000
3000
4000
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned Short Sales Regular
Santa Clara County Jan. 7th, 2009
Santa Clara County November 16, 2009
224503
741 659
2583
546
2622
12701739
0
500
1000
1500
2000
2500
3000
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned Short Sales Regular
Santa Clara County November 16, 2009
200
250
300
350
400
450
Santa Clara County Apr. 5, 2007 – Nov. 12, 2009
REO NOD
0
50
100
150
200
4/1
9/2
00
75
/10
/20
07
5/3
1/2
00
76
/21
/20
07
7/1
2/2
00
78
/2/2
00
78
/23
/20
07
9/1
3/2
00
71
0/4
/20
07
10
/25
/20
07
11
/15
/20
07
12
/6/2
00
71
2/2
7/2
00
71
/17
/20
08
2/7
/20
08
2/2
8/2
00
83
/20
/20
08
4/1
0/2
00
85
/1/2
00
85
/22
/20
08
6/1
2/2
00
87
/3/2
00
87
/24
/20
08
8/1
4/2
00
89
/4/2
00
89
/25
/20
08
10
/16
/20
08
11
/6/2
00
81
1/2
7/2
00
81
2/1
8/2
00
81
/8/2
00
91
/29
/20
09
2/1
9/2
00
93
/12
/20
09
4/2
/20
09
4/2
3/2
00
95
/14
/20
09
6/4
/20
09
6/2
5/2
00
97
/16
/20
09
8/6
/20
09
8/2
7/2
00
99
/17
/20
09
10
/8/2
00
91
0/2
9/2
00
9
12-Nov-2009
Notices
of
Default:
New
Trustee
Sales: REOs SOLD
This Week: 173 158 69 23
Year to date: 11750 10156 2507 478
2008 YTD: 10518 6990 6415 265
750,000
850,000
950,000
1,050,000
7.2
7.7
8.2
8.7
Santa Clara County Mar. 1998 - Oct. 2009
30 Years Rate Average Sales Price
350,000
450,000
550,000
650,000
4.7
5.2
5.7
6.2
6.7
Ma
r-9
8M
ay-9
8Ju
l-9
8S
ep
-98
No
v-9
8Ja
n-9
9M
ar-
99
Ma
y-9
9Ju
l-9
9S
ep
-99
No
v-9
9Ja
n-0
0M
ar-
00
Ma
y-0
0Ju
l-0
0S
ep
-00
No
v-0
0Ja
n-0
1M
ar-
01
Ma
y-0
1Ju
l-0
1S
ep
-01
No
v-0
1Ja
n-0
2M
ar-
02
Ma
y-0
2Ju
l-0
2S
ep
-02
No
v-0
2Ja
n-0
3M
ar-
03
Ma
y-0
3Ju
l-0
3S
ep
-03
No
v-0
3Ja
n-0
4M
ar-
04
Ma
y-0
4Ju
l-0
4S
ep
-04
No
v-0
4Ja
n-0
5M
ar-
05
Ma
y-0
5Ju
l-0
5S
ep
-05
No
v-0
5Ja
n-0
6M
ar-
06
Ma
y-0
6Ju
l-0
6S
ep
-06
No
v-0
6Ja
n-0
7M
ar-
07
Ma
y-0
7Ju
l-0
7S
ep
-07
No
v-0
7Ja
n-0
8M
ar-
08
Ma
y-0
8Ju
l-0
8S
ep
-08
No
v-0
8Ja
n-0
9M
ar-
09
Ma
y-0
9Ju
l-0
9S
ep
-09
1156760 797
1818
858201
3151
489847
0
1000
2000
3000
4000
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned Short Sales Regular
Santa Clara County Jan. 7th, 2009
Santa Clara County November 16, 2009
224503
741 659
2583
546
2622
12701739
0
500
1000
1500
2000
2500
3000
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Active Pending Sold last 60 Days
Bank Owned Short Sales Regular
Santa Clara County November 16, 2009
California Civil Code Sections 1695
The property is residential one-to-four units, and
The owner currently resides in at least one of those units, and
An NOD (Notice of Default) has been recorded against the property, and
The buyer does not intend to live in the property (i.e., the buyer is an investor).
Short Sale Practice
•Realtor Short Sale Vs. Investor
Short Sale
•HUD-1 Vs. Netsheet
•Success Rate
•What Short Sale Is and What It Is •What Short Sale Is and What It Is
Not
•At the lenders discretion
•Not an entitlement
•Short Sale Documents
Short Sale Practice
•Short Sale Process
•Common Short Sale Mistakes
•Top 10 List
•Listing agents and Negotiators
•Home owners•Home owners
•Buyers and Investors
•Changes in Short Sale Processing
•Government Mandate
•Lenders and their investors
