Monday, January 21, 2008

11,453 Homes Offered For Sale on Countrywide Financial's Website

Total REO Asking Price: 1,845,595,537
(As of April 6, 2009)



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

Click on state below for detailed listings
.

State Count Total Asking
Price($)
Average Asking
Price($)
AK295,376,700185,403
AL16222,914,886141,450
AR575,687,29999,777
AZ65897,732,200148,529
CA2,694637,381,149236,593
CO16126,520,897164,726
CT9015,674,666174,163
DC275,769,198213,674
DE223,490,800158,673
FL985125,282,569127,190
GA53364,780,416121,539
HI6623,392,900354,438
IA332,595,50078,652
ID7919,587,000247,937
IL43253,450,741123,729
IN19211,592,29260,377
KS393,943,000101,103
KY848,095,69996,377
LA476,065,393129,051
MA12721,500,197169,293
MD21944,804,972204,589
ME211,374,89665,471
MI68848,810,79470,946
MN32347,278,294146,372
MO13311,883,10089,347
MS807,761,29497,016
MT165,410,400338,150
NC21732,126,696148,049
ND04489,600122,400
NE262,525,30097,127
NH345,565,599163,694
NJ16032,604,992203,781
NM354,788,298136,809
NV809120,744,634149,252
NY17636,756,195208,842
OH25616,796,59065,612
OK9010,011,999111,244
OR10721,609,317201,956
PA11611,867,598102,307
RI636,692,201106,225
SC10720,075,698187,623
SD09947,099105,233
TN18822,213,550118,157
TX44359,721,445134,811
UT6920,980,999304,072
VA28147,952,881170,651
VT04405,600101,400
WA15933,147,199208,473
WI807,223,10090,289
WV191,799,09594,689
WY04392,60098,150
Total11,4531,845,595,537148,537





















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Note: California Average REO Asking Prices have increased +4.2% from last month, and are down -41% from their peak of $400,000.

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6 comments:

Matt said...

These are some very interesting charts. They look somewhat similar to what I've seen at ListingSupply.com, which tracks the number of MLS listings in various markets. I think a lot of big investors are looking to cheap real estate for protection from the coming inflation.

Fab1 said...

One reason the REO average price for CA is ticking upwards might be that properties in CA upscale neighbourhoods have just begun to enter the REO market. For instance, an house that sold for 2 millions in 2005 might be on sale now (as a REO) for 1 million, not necessarily a good thing for CountryWide. A thorough analysis of the REO portfolio in CA is needed to confirm this hypothesis.
Or maybe it is just a blip. :)

Xpovos said...

Hey, with today's announcement it looks like the Countrywide data comes to an end.

Thanks for the work. It's been a very interesting read over time.

Michelle said...

That is a great information on Countrywide foreclosure.The charts are very interesting! Also- I found information that might help as well. http://www.shortsalebizinabox.com. Keep up the posts! I enjoy reading them!

Bill said...

Where did these homes go? I watched four Countrywide owned homes on one street (Cowan Way, Livermore, CA) until they were no longer listed. It did not appear they sold. Are these becoming part of the phantom inventory?

Serge said...

One interesting chart is Florida. It looks like the volume of REO listings is decreasing (being bought up) yet the price is decreasing. This seems incongruous because if the supply is decreasing you'd expect prices to increase. Does anyone know the Florida market well enough to explain this? One possible explanation is that the REO's that are being taken off the market through purchases are ones that have an extremely low price and are outpacing the higher priced REO's. The other is that the number of purchases (demand) are outpacing the number of foreclosures (supply) and the ones that are being sold are the lowest prices ones. Any other thoughts or is the Florida market truly out of line with basic economic principles? Thanks.