Tuesday, April 24, 2007

13,691 Homes Offered For Sale on Countrywide Financial's Website

Total Asking Price: $2,867,767,788
(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
Total13,6912,886,971,683180,362







.

1 comment:

Rivercard said...

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.