(As of October 30, 2007)
Source: http://www.countrywide.com/purchase/f_reo.asp
Click on state below for detailed listings.
| State | Count | Total Asking Price($) | Average Asking Price($) |
| AK | 9 | 2,861,200 | 317,911 |
| AL | 129 | 12,360,305 | 95,816 |
| AR | 27 | 2,434,400 | 90,163 |
| AZ | 446 | 110,774,300 | 248,373 |
| CA | 3,546 | 1,231,648,090 | 347,334 |
| CO | 431 | 74,580,200 | 173,040 |
| CT | 94 | 22,001,500 | 234,059 |
| DC | 13 | 3,593,700 | 276,438 |
| DE | 15 | 3,711,500 | 247,433 |
| FL | 848 | 200,571,162 | 236,523 |
| GA | 679 | 89,630,200 | 132,003 |
| HI | 29 | 12,018,100 | 414,417 |
| IA | 54 | 4,476,682 | 82,902 |
| ID | 19 | 3,704,200 | 194,958 |
| IL | 416 | 66,361,987 | 159,524 |
| IN | 353 | 21,605,575 | 61,206 |
| KS | 68 | 6,081,300 | 89,431 |
| KY | 82 | 8,082,700 | 98,570 |
| LA | 46 | 5,528,400 | 120,183 |
| MA | 259 | 58,202,800 | 224,721 |
| MD | 142 | 45,373,400 | 319,531 |
| ME | 3 | 329,700 | 109,900 |
| MI | 1,660 | 118,213,942 | 71,213 |
| MN | 377 | 60,056,550 | 159,301 |
| MO | 319 | 31,006,797 | 97,200 |
| MS | 119 | 11,753,505 | 98,769 |
| MT | 7 | 2,272,300 | 324,614 |
| NC | 164 | 19,061,000 | 116,226 |
| ND | 3 | 316,700 | 105,567 |
| NE | 32 | 2,896,400 | 90,513 |
| NH | 79 | 17,393,700 | 220,173 |
| NJ | 78 | 22,879,400 | 293,326 |
| NM | 16 | 2,569,400 | 160,588 |
| NV | 642 | 196,151,700 | 305,532 |
| NY | 135 | 28,597,300 | 211,832 |
| OH | 534 | 33,457,399 | 62,654 |
| OK | 57 | 4,422,600 | 77,589 |
| OR | 31 | 8,224,900 | 265,319 |
| PA | 149 | 13,572,100 | 91,088 |
| RI | 58 | 11,460,300 | 197,591 |
| SC | 49 | 5,229,100 | 106,716 |
| SD | 7 | 1,007,300 | 143,900 |
| TN | 196 | 19,970,150 | 101,889 |
| TX | 546 | 78,592,649 | 143,943 |
| UT | 22 | 6,707,300 | 304,877 |
| VA | 526 | 174,558,300 | 331,860 |
| WA | 66 | 16,916,400 | 256,309 |
| WI | 81 | 9,124,090 | 112,643 |
| WV | 25 | 3,958,500 | 158,340 |
| WY | 5 | 670,500 | 134,100 |
| Total | 13,691 | 2,886,971,683 | 180,362 |
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1 comment:
I work as a short sale coordinator and have noticed that Countrywides REO list is going to get a whole lot bigger. When we make an offer to them they will only use their appraisaed value which is based on closed comps. Are they kidding closed comps? When the listings are 30k to 40k less I can tell you they wont sell. Apparently the brain surgeons at countrywide beleive they can sell it for more if they take it back and carry it on the books for six months. All this crap about helping the homeowner is lip service. They are just trying to delay further write downs. In my opinion they did not come close to writing down their assets. At a loss of $100,000 per home and they have 13,691 then thats almost 1.4 billion. Now add cost to carry, administration and 2,000 homes per month and you have a much bigger number. Also they have to revalue all of the developer loans which based on todays listings are worth way less.
So why would they only want to accept appraisal value? Well you dont have to write down the new value until you take it back and when you sell it you now know the real number. At the same time you keep telling wall street your numbers are solid. But you have to write down more and you can take the losses over years and support you stock instead of taking your hit like a real man.
Shenanigans.
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