(As of October 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 | 25 | 6,720,500 | 268,820 |
| AL | 207 | 26,304,996 | 127,077 |
| AR | 85 | 7,393,400 | 86,981 |
| AZ | 796 | 131,416,250 | 165,096 |
| CA | 5,334 | 1,280,894,200 | 240,138 |
| CO | 293 | 56,856,297 | 194,049 |
| CT | 158 | 28,129,187 | 178,033 |
| DC | 26 | 6,726,397 | 258,708 |
| DE | 26 | 3,803,399 | 146,285 |
| FL | 2,067 | 310,620,129 | 150,276 |
| GA | 995 | 114,184,224 | 114,758 |
| HI | 45 | 16,195,900 | 359,909 |
| IA | 68 | 5,498,199 | 80,856 |
| ID | 78 | 19,325,850 | 247,767 |
| IL | 763 | 106,199,721 | 139,187 |
| IN | 365 | 22,572,244 | 61,842 |
| KS | 82 | 7,340,052 | 89,513 |
| KY | 131 | 10,699,745 | 81,677 |
| LA | 63 | 7,240,300 | 114,925 |
| MA | 248 | 41,947,253 | 169,142 |
| MD | 287 | 75,088,285 | 261,632 |
| ME | 44 | 4,090,201 | 92,959 |
| MI | 1,228 | 79,788,489 | 64,974 |
| MN | 470 | 65,877,036 | 140,164 |
| MO | 320 | 29,765,675 | 93,018 |
| MS | 101 | 11,085,497 | 109,757 |
| MT | 16 | 3,517,300 | 219,831 |
| NC | 386 | 57,997,051 | 150,251 |
| ND | 01 | 32,900 | 32,900 |
| NE | 30 | 2,565,000 | 85,500 |
| NH | 113 | 19,786,874 | 175,105 |
| NJ | 222 | 48,041,990 | 216,405 |
| NM | 35 | 5,779,500 | 165,129 |
| NV | 908 | 170,383,405 | 187,647 |
| NY | 219 | 44,943,769 | 205,223 |
| OH | 492 | 29,316,412 | 59,586 |
| OK | 92 | 7,315,799 | 79,520 |
| OR | 118 | 26,621,001 | 225,602 |
| PA | 187 | 18,736,100 | 100,193 |
| RI | 99 | 16,598,195 | 167,659 |
| SC | 160 | 20,256,900 | 126,606 |
| SD | 09 | 1,027,200 | 114,133 |
| TN | 369 | 36,042,995 | 97,677 |
| TX | 801 | 101,284,242 | 126,447 |
| UT | 52 | 20,151,600 | 387,531 |
| VA | 581 | 127,079,755 | 218,726 |
| VT | 03 | 469,700 | 156,567 |
| WA | 219 | 54,086,700 | 246,971 |
| WI | 154 | 14,689,309 | 95,385 |
| WV | 38 | 4,339,198 | 114,189 |
| WY | 09 | 1,503,200 | 167,022 |
| Total | 19,618 | 3,308,329,521 | 156,066 |
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4 comments:
I heard Angelo Mozilo also has started a new company helping people with foreclosures..
it is called
Angelo's NOMO Loans
NOT
This is great. Where is the data from?
Wow & ouch!
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."
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