Wednesday, October 17, 2007

19,618 Homes Offered For Sale on Countrywide Financial's Website

Total REO Asking Price: $3,308,329,521
(As of October 17, 2008)



Source: http://www.countrywide.com/purchase/f_reo.asp

Click on state below for detailed listings
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State Count Total Asking
Price($)
Average Asking
Price($)
AK256,720,500268,820
AL20726,304,996127,077
AR857,393,40086,981
AZ796131,416,250165,096
CA5,3341,280,894,200240,138
CO29356,856,297194,049
CT15828,129,187178,033
DC266,726,397258,708
DE263,803,399146,285
FL2,067310,620,129150,276
GA995114,184,224114,758
HI4516,195,900359,909
IA685,498,19980,856
ID7819,325,850247,767
IL763106,199,721139,187
IN36522,572,24461,842
KS827,340,05289,513
KY13110,699,74581,677
LA637,240,300114,925
MA24841,947,253169,142
MD28775,088,285261,632
ME444,090,20192,959
MI1,22879,788,48964,974
MN47065,877,036140,164
MO32029,765,67593,018
MS10111,085,497109,757
MT163,517,300219,831
NC38657,997,051150,251
ND0132,90032,900
NE302,565,00085,500
NH11319,786,874175,105
NJ22248,041,990216,405
NM355,779,500165,129
NV908170,383,405187,647
NY21944,943,769205,223
OH49229,316,41259,586
OK927,315,79979,520
OR11826,621,001225,602
PA18718,736,100100,193
RI9916,598,195167,659
SC16020,256,900126,606
SD091,027,200114,133
TN36936,042,99597,677
TX801101,284,242126,447
UT5220,151,600387,531
VA581127,079,755218,726
VT03469,700156,567
WA21954,086,700246,971
WI15414,689,30995,385
WV384,339,198114,189
WY091,503,200167,022
Total19,6183,308,329,521156,066











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4 comments:

upthecreek said...

I heard Angelo Mozilo also has started a new company helping people with foreclosures..
it is called
Angelo's NOMO Loans

NOT

Dave said...

This is great. Where is the data from?

Anonymous said...

Wow & ouch!

Anonymous said...

The problems are many at CHL. First, they have several areas regionally selling their REO. This means that the person negotiating the contract could be in Texas without any idea of what the local market in Los Angeles may be doing. On top of that their experienced REO staff left a long time ago, what they have now are little high school robots who just read a manual and are thrown at the problem. One Realtor told me, as an example, of a situation where he had negotiated the tenant to move out of the unit (instead of pursuing an eviction) for $500 a process is called "cash for keys." He proudly called the REO manager and told him of what he had done. Well, instead of applause he got chided because the "manual" calls for $2,000. So he had to give the tenant another $1,500 of Countrywide funds. Their management was trained when times were good, and you could list a foreclosure for a premium, and get it. Their management is still thinking that way. They'll say, "let's try the higher price." Instead they just waste 30 to 60 days on the market with a value that's just too high for that market. Meanwhile the market continues to deteriorate, and they chase the market down with minor price reductions, wondering why they have so much aged listings. Add to that crappy pay and an unreachable bonus structure, and you get people who are neither qualified nor a structure that promotes action. They conceptually don't understand that in a declining market, your first offer is usually your best one. Many of the deals they receive they fumble and the buyer just goes next door and buys somebody else's foreclosure. One insider called it an old fashioned "cluster F."