(As of January 17, 2008)
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 | 10 | 3,051,000 | 305,100 |
| AL | 126 | 14,282,390 | 113,352 |
| AR | 39 | 4,137,200 | 106,082 |
| AZ | 681 | 154,872,700 | 227,420 |
| CA | 4,257 | 1,359,512,400 | 319,359 |
| CO | 414 | 72,242,500 | 174,499 |
| CT | 110 | 23,018,500 | 209,259 |
| DC | 09 | 3,404,700 | 378,300 |
| DE | 12 | 2,247,800 | 187,317 |
| FL | 1,143 | 252,047,318 | 220,514 |
| GA | 717 | 91,684,600 | 127,873 |
| HI | 20 | 8,547,100 | 427,355 |
| IA | 64 | 5,146,500 | 80,414 |
| ID | 21 | 3,858,000 | 183,714 |
| IL | 528 | 82,067,100 | 155,430 |
| IN | 343 | 21,967,200 | 64,044 |
| KS | 58 | 5,387,250 | 92,884 |
| KY | 69 | 6,518,955 | 94,478 |
| LA | 50 | 5,248,000 | 104,960 |
| MA | 360 | 76,410,000 | 212,250 |
| MD | 211 | 63,609,500 | 301,467 |
| ME | 05 | 465,500 | 93,100 |
| MI | 1,556 | 110,485,654 | 71,006 |
| MN | 422 | 63,584,955 | 150,675 |
| MO | 308 | 27,854,999 | 90,438 |
| MS | 120 | 9,244,313 | 77,036 |
| MT | 07 | 2,204,300 | 314,900 |
| NC | 151 | 16,094,000 | 106,583 |
| ND | 03 | 346,700 | 115,567 |
| NE | 24 | 2,782,600 | 115,942 |
| NH | 74 | 16,137,700 | 218,077 |
| NJ | 106 | 28,959,500 | 273,203 |
| NM | 17 | 2,198,300 | 129,312 |
| NV | 736 | 200,514,350 | 272,438 |
| NY | 157 | 34,721,000 | 221,153 |
| OH | 577 | 36,783,355 | 63,749 |
| OK | 74 | 6,205,600 | 83,859 |
| OR | 48 | 11,359,300 | 236,652 |
| PA | 150 | 15,685,300 | 104,569 |
| RI | 72 | 14,089,000 | 195,681 |
| SC | 64 | 7,514,300 | 117,411 |
| SD | 06 | 747,400 | 124,567 |
| TN | 212 | 23,113,699 | 109,027 |
| TX | 619 | 86,237,200 | 139,317 |
| UT | 36 | 13,308,400 | 369,678 |
| VA | 665 | 198,318,400 | 298,223 |
| WA | 66 | 18,173,500 | 275,356 |
| WI | 89 | 10,032,555 | 112,725 |
| WV | 40 | 7,252,000 | 181,300 |
| WY | 03 | 373,700 | 124,567 |
| Total | 15,649 | 3,224,048,293 | 177,444 |
View more charts
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6 comments:
Rick Ed Owens said...
Banks are taking quite the hit. Short Sales in Idaho are way up during the third quarter. and Defaults have gone out the roof to begin the year.
Countrywide isn't loving life these days.
January 9, 2008 10:14 PM
upthecreek said...
Hey Angelo.. get back to work...
Your Company is tanking....
Sell some of these dirtbag REO's you have on the market..
OH YA ... you can't get any "Mo Money" from the fed..
Things aren't looking to good for the ORANGE MAN
January 9, 2008 11:38 PM
upthecreek said...
Speaking of banks that rip off people this was a great story
http://www.alternet.org/story/72522/
January 9, 2008 11:42 PM
Anonymous said...
There is one more home in Chandler, AZ not listed on your countrywide foreclosure list why??
mls # 2894599
6886 S Emerald Dr, Chandler AZ
$394,900
January 11, 2008 2:16 AM
upthecreek said...
I just talked to a realtor for one of the CFC foreclosures in our HOA.. He was suppose to have the house listed last month December of 2007.. He keeps calling CFC ..Now they lost the file..He is pissed. What a bunch of idiots at CFC...this is the reason why they will go BK..the house of cards has already imploded...it is a super tanker without a rudder
January 11, 2008 6:14 PM
with open ARMs said...
Even though Countrywide is losing money now, Bank of America just can't wait to get its hands on the 93% of Countrywide's mortgage portfolio that are not past due right now. And who could blame them.
January 11, 2008 8:55 PM
Anonymous said...
Can you do the same type of charts for Arizona showing number of homes and average price?
January 13, 2008 2:36 PM
Dimitris said...
If you click on the link that says "view more charts" - Arizona is listed.
You have to scroll down a bit.
January 13, 2008 6:10 PM
Anonymous said...
Thank you, my reading comprehension skills aren't what they used to be.
Arizona's numbers are the scariest. Eyeballing the numbers it looks like all the other states listed range from 2 to 4 times their beginning numbers. AZ is around 8x.
January 13, 2008 11:55 PM
Anonymous said...
California, as of 1/13/07 now has about 4300 homes listed for sale at the CFC web site. That is a 6% increase in 4 days. Happy New Year!
January 14, 2008 6:19 AM
Kevin said...
Wow, if thats true I can't wait to see the next update. Maybe Countrywide is bringing back all those auction properties that never sold?
It really seems to be accelerating in the last week.
January 14, 2008 2:51 PM
upthecreek said...
OH Boy!!! This is going to get Ugly..
my bet is that B of A does not finish the deal with CFC ...Just a smokescreen to keep the company on Life support for 6 more months...
Remember the Enron /Dynegy Buyout that failed...History will repeat
January 15, 2008 1:17 AM
Anonymous said...
Taking bets on when they hit 20K foreclosed properties? I'd say late March.
January 15, 2008 2:59 PM
Rich said...
Is CFC going to agressively unload these 15,783 properties (and the thousands more frozen in the NOD, TS and short sale pipeline) or are they just going to fiddle while Rome burns?
Come on - show some executive leadership! Are you mice or men?
TALK TO US!
January 17, 2008 12:41 AM
CFC was three REO's in our neighborhood in Yorba Linda, CA
Funny thing they fail to show up on any of these lists..
By the way we also have 5 more CFC homes in pre foreclosure. all this with only 62 homes
Bye Bye Angelo.. Thanks for giving all these great loans to the flippers all ALT A loans two million plus
I actually believe that the CFC BK rumor was not bullshit. It fits. It makes sense. We all know it. That's why The Tan Man looted the company over the past year.
Try this scenario:
Countrywide General Council: Moz, we are in trouble, and we won't make it through the end of January. You gotta declare BK.
Tan Man: Getthefuckouttahere! We are just fine.
CWGC: Nope. Accounting says we are down to pawning our toner cartridges and your suits. Your suits only pawn in Miami and in Tijuana, so that leaves us with the toner.
TM: No shit? Hmmm...
(places phone call to airport)
TM: Hey! This is Moz. Get my G-IV fired up. Destination? Hawaii.
CWGC: Moz, I don't think that will work. You are going to be the posterboy for the entire mortgage mess. Think Ken Lay...
TM (talking to airport): Hey! You still there? Make the destination Paraguay via the Caymans.
TM (to CWGC): Paraguay doesn't extradite, do they?
CWGC: How about dealing with the situation. You can reorganize the company, but you will probably be out.
TM: What then?
CWGC: You will probably be indicted on any number of fiduciary violations and SEC infractions.
TM: ...and?
CWGC: Does a public skullfucking mean anything to you?
TM: Prison?
CWGC: Possible. They didn't get Ken, so they are going to be looking for someone else.
TM: White collar?
CWGC: No. Federal "pound me in the ass" prison. No tanning bed, and I don't think you will like the pinstripes they wear in that place. (thinks to himself) Yeah, but the suit will be an improvement.
TM: No shit?
CWGC: No shit.
TM: Hmmm...I have an idea. (pages secretary) Get Paulson on the phone.
(5 mins elapse)
Secretary: Mr. Mozillo, Hank Paulson on line 2...
TM: Hank, how are you doing?
HP: T-t-t-ter-rr-rr-ible. Markets are going to crash next week when the financials report. We are out of tricks and Bernanke is being an academic.
TM: Hey, "we" have a problem.
HP: Skin cancer? Sorry to hear that.
TM: NO! you idiot. We are bankrupt.
HP: Yes, we have been bankrupt since the first Bush Administration.
TM: NO! Countrywide is bankrupt.
HP: No shit. Can't you hide it?
TM (looking at CWGC who is shaking head): Uhhh...not this time. It's not like August.
HP (puts TM on hold and pages secretary): Can you get the Paraguayan Ambassador on the horn. I might need to move the family. Also, get me Banco Cayman on the phone...and the Goldman Derivatives Desk.
HP (takes TM off hold): S-s-sucks to be you.
TM: No, Hank. I don't think you get it. It sucks to be "you."
HP: How so?
TM: Picture this..."mark to market" and "acceleration event." We got lots of shit that is level 3.
HP: (silence)
TM: Is this going in Hank? Do you understand what I'm talking about? If I go to BK, all my toxic waste gets marked to market, which is zero.
HP: (silence)
TM: You there? How would you like all the financials to report earnings and have marked their waste well above what I am about to report. It would skullfuck the entire industry.
HP: (big thud as he falls out of chair)
TM: How about this. You need to find someone to buy this crap and do it without using the open market. I've got an appointment at Malibu Tan, so I can't do it. Thanks, Hank, you are a pal.
HP: Th-th-that's n-n-not m-m-my j-j-j-j-job.
TM: OK Hank, have it your way. (hangs up phone)
TM (to CWGC): Float a rumor that we are about to declare BK. Do it in an unofficial way that we can deny.
CWGC: No problem. (leaves room)
TM goes to Malibu Tan.
(((later that afternoon)))
CW secretary: Hello, Countrywide Executive Offices, can you hold?
HP: OK.
CWS: Thanks for holding, how can I help you.
HP: I need to speak to The Moz ASAP!
CWS: Whom may I say is calling?
HP: Hank Paulson. Page that fucker right now or the IRS will probe every orifice in your rotting corpse!
CWS: Please hold.
CWS (to Moz): Mr. Mozillo, Hank Paulson on line 2.
TM: Hank! Good to hear from you.
HP: You slimy overaged pre-melonomic pimp! What the fuck are you doing with leaking that you are going BK? Did you see what that did to the markets? I've got more shit coming down the next two weeks than you can possibly fathom.
TM: Hank, calm down...Do we have a deal?
HP: Yes. I've got Bank Of America over a barrel, and they owe me one.
TM: Convenient.
HP: Here is the deal. You "officially deny" your BK rumor and BoA buys your POS company and keeps your trash off the street.
TM: I want IRS immunity...and $85million...and use of the G-IV...free tans for life...and a gift certificate for "Guido's Custom Apparel of Brooklyn."
HP: I'M GOING TO GIVE IT TO YOU RIGHT IN YOUR WOP ASS!!
TM: That's very unbecoming of you. Perhaps I should just retire right now...
HP: NO NO NO!!! OK, you win. You get the pimp suits.
TM: Thanks Hank. I always liked working with you. Tell Kenny Lewis that I'm not going to kiss his ass, and I want an up-front parking spot. Good day, bro.
-------------------
How likely is it that this was orchestrated to keep Tan Man's junk off the market? BOA would have lost 10X what they paid for CW if it was marked to reality. So would everyone else.
Do you think Countrywide would take $1B for the entire portfolio? I may be raising a hedge fund here soon.
There may be more to this Bank of America takeover than we're seeing. To much to cram in here, but the commentary is: 01/15/2008 - Bank of America Devours Countrywide at GreatRedDragon.com .
Great summary and charts. Did you summerize the data manually? I'm looking at similar data for other banks.
The Moz is a boob.
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