and, contra to an earlier Post, on “Quants”, these are the ‘Data Jockeys’ to pay attention to–ask Jim Simons, see if he agrees..
curbyourrisk Says:
December 9th, 2010 at 9:12 am
Great tool…….WOW…..Farmingdale is loaded. Funny, when I looked up at the North Shore of Long Island (where all the beautiful people live)…..NONE!!! But then again, they are beter than the rest of us.
rktbrkr Says:
December 9th, 2010 at 9:32 am
Fannie has an online listing of their REOs, only 3% downpayment required with 3.5% allowance for owner-occupied – so essentially nothing down. No appraisal or mortgage ins required. Nothing said about title ins. Special financing for renovations/repairs.
I believe there will be at least one more wave of markdowns in the sand states once the foreclosure train regains momentum, the normal areas might be near bottom now as long as we can hold at 90% employment.
If BB screws up and mortgage rates soar then it’s good night Irene for homeowers even at this level
http://www.homepath.com/
beaufou Says:
December 9th, 2010 at 9:32 am
Can you google map the notes for those foreclosures?
Livermore Shimervore Says:
December 9th, 2010 at 10:33 am
interesting: Click on both the “For Sale” and “Foreclosure” check boxes and then unclick “For Sale”. Very different maps.
curbyourrisk Says:
December 9th, 2010 at 11:28 am
But, but Barry said the bottom was in/near in housing…
http://www.bloomberg.com/news/2010-12-09/homes-in-u-s-poised-to-lose-1-7-trillion-in-value-this-year-zillow-says.html
Mannwich Says:
December 9th, 2010 at 12:13 pm
This one is a must-read today:
http://www.correntewire.com/why_obama_tax_deal_republicans_insane
louis Says:
December 9th, 2010 at 1:16 pm
Move along, these aren’t the dots your looking for – Que Ostrich.
Google Maps adds Foreclosure Results » The Art of Short Sales Says:
December 9th, 2010 at 3:14 pm
[...] interesting find over at The Big Picture, detailing how to use Google Maps to find foreclosures: Google Maps keeps evolving, expanding the ability to drill down into granular detail. The latest [...]
Use a Google Maps Filter to See Nearby Foreclosures [Real Estate] | Berry Live Says:
December 9th, 2010 at 4:02 pm
[...] state of the economy, and for seeing what homes go for when they’ve been left in the wind. Google Map Foreclosure Tricks [The Big Picture via BoingBoing [...]
Foreclosure Listing On Google Maps? « Daniel's Rants & Raves Says:
December 9th, 2010 at 5:24 pm
[...] I know Google Maps can be used to see directions to some place in the area you never been to, you can see street views of places, and so many other wonderful uses for Google Maps but now you can actually check the Foreclosures in a particular area using Google’s Map Service which is crazy, check out this article for more Details HERE. [...]
FMT Says:
December 9th, 2010 at 6:56 pm
Immensely sad to reflect on the family stress and pain many of these dots will represent.
michael Says:
December 9th, 2010 at 11:06 pm
its probably worth noting that even this badly understates the problem. a home across the street from me was short-sold and the family lost all of their equity and the money’s for a major addition they had put into it; they of course aren’t shown. also, the house next to them went through foreclosure. its since been bought and a new family is living there. since its not currently in foreclosure, its not displayed either.
Rob Says:
December 9th, 2010 at 11:07 pm
Been having fun looking at foreclosure properties in my area this morning.
Didn’t know that was even a possibility on GM.
Stumbled upon something that was really cool that I’ve never seen before.
Well sort of. If you look at a property using the “street view” then you
can checkout the area around the property. (yeah, bear with me, I know that
isn’t “new”) But while you looking at it in street view, right mouse click
on the image and select “3D mode on.” Now that’s bad ass.
I use to do mechanical design work and our computer did a similar “trick” as
this. When you were designing a 3D part you could put it in 3D mode and the
part you were designing became 3D (with the glasses of course) While it was
a super nifty trick, it didn’t have much purpose in the design process.
Similar to this street view thing I guess, really nifty but not much
purpose…. yet.
In case the 3D thing isn’t available everywhere, here’s the property I was
looking at.
http://maps.google.com/maps?
Rob
TheCenterLane Says:
December 10th, 2010 at 3:51 am
I wouldn’t get too excited about that unit at 3425 Collins Ave. I used to live right nearby for 9 years.
Even in this depressed market: You get what you pay for.
Caveat Emptor. ‘Nuff said.
zato Says:
December 10th, 2010 at 1:12 pm
These are NOT foreclosure listings. They are FOR SALE listings.
I looked at my neighborhood and ever single house that is for sale is designated a foreclosure according to google maps with “foreclosure” checked. Every single one. Now I know some of my neighbors and they are not in foreclosure.
The data is bad, folks.
Amazing & Staggering – Foreclosure Maps | Roylat.com Says:
December 10th, 2010 at 2:58 pm
[...] out the full article and set of maps – and instructions on how to do it yourself [...]
paulks Says:
December 11th, 2010 at 11:25 am
The data doesn’t represent what we think it does, or what the title implies. I asked a real estate insider about this map. His reply:
“That is a pretty neat system. Unfortunately, it’s not a very accurate or useful system to me, it looks like it just generates hits to foreclosure “sale” websites, which in turn makes my client call me and ask to see a property that was sold weeks ago. The interesting thing is that nobody can actually sell a foreclosure except the public trustee, they only take cash, and they don’t advertise. The news media has done a good job of confusing the public about what a foreclosure really is. All these houses may be in the foreclosure process at some point, or have already gone through foreclosure. Most appear to be bank owned or short sales or distressed sales, etc.
I looked up a couple I know about and the system appears to only be linked to these commercial websites, not the current MLS. 1375 S Vrain is shown on the map as being listed for $145k. I know it went through and completed foreclosure nearly a year ago, and the bank sold it at auction 10 days ago for $74,000 (to my investors)”
Foreclosures on Google Maps | Mapsys.info Says:
December 12th, 2010 at 5:55 pm
[...] The Big Picture has been looking at a number of areas on Google Maps to assess the impact of the downturn on people’s homes. [...]
Matrix » Google Maps Shows Us Our Foreclosure Skeletons Says:
December 12th, 2010 at 7:04 pm
[...] is why Barry Ritholtz’s The Big Picture is a must read – always a trove of cool insight – this time its (via ChartPorn) [...]
America’s Spreading Foreclosure Pandemic — use Google’s foreclosure maps to expose the extent of foreclosures nationwide and in your neighborhood « Dregs of the Future Says:
December 13th, 2010 at 1:17 pm
[...] Amazing US default and foreclosure maps [...]
Quora Says:
December 13th, 2010 at 4:09 pm
How to find foreclosing apartments?…
Google provides an interesting solution for this though I cannot confirm if their results are relevant. Basically go to Google Maps, punch in any US address and hit the More button besides Traffic. There is an option for Real Estate, check that and on …
Cogitator Says:
December 13th, 2010 at 5:12 pm
This seems to be for homes that have been foreclosed on. There are many others that are in the process, but have not yet been, as they say, sold on the courthouse steps to make this list. If all of the homes that are in the process of being foreclosed were on on this map, it would look much worse.
Buce:
Underbelly: The Blogger has Questions: They say the Devil has nine questions. Barry Ritholtz has ten; he poses them to the four guys [Peter Wallison, Keith Hennessey, Bill Thomas and Douglas Holtz-Eakin] who didn't finish their term paper:
From 2001 to 2003, Alan Greenspan took rates down to levels not seen in almost half a century, then kept them there for an unprecedentedly long period. What was the impact of ultra low interest rates on Housing, credit, the bond markets, and derivatives?
How significant were the Ratings Agencies (S&P, Moodys and Fitch) to the collapse? What did their AAA ratings on junk derivatives affect? What about their being paid directly by underwriters for these ratings?
The Commodities Futures Modernization Act of 2000 removed all Derivatives from all oversight, including reserve requirements, exchange listings, and disclosures. What effect did the CFMA have on firms such as AIG, Bear, Lehman, Citi, Bank of America?
Prior to 2004, Investment Houses were limited to 12-to-1 leverage by the SEC’s net capitalization rule. In 2004, the 5 largest investment banks asked for, and received, a full exemption from leverage restrictions (known as the Bear Stearns exemption) These five firms all jacked up their leverage. What impact did this increased leverage have on the crisis?
For seven decades, Glass Steagall separated FDIC insured depository banks from riskier investment houses. Prior to the repeal of Glass Steagall in 1998, the market had regular crashes that did not spill over into the real economy: 1966, 1970, 1974, and most telling of all, 1987. What impact did the repeal of Glass Steagall have on the banking system during the 2008-09 crash?
NonBank Lenders: Most of the sub-prime mortgages were made by unregulated non-bank lenders. They had a ”Lend to securitize” business model, and they sold enormous amounts of subprime loans to Wall Street for this purpose. Primarily located in California, they were also unregulated by both the Federal Reserve and the California State legislator. What was the impact of these firms?
These firms abdicated traditional lending standards. They pushed option arms, interest only loans, and negative amortization mortgages, all of which defaulted in huge numbers. Was non-bank sub prime lending a major factor in the crisis?
The entire world had a simultaneous global housing boom and bust. US legislation such as the CRA or Fannie & Freddie only covered US housing and lenders. How did this cause a worldwide boom and bust — even bigger than that in the US ?
Prior to the 2004, many States had Anti-Predatory Lending (APL) laws on their books (and lower defaults and foreclosure rates). In 2004, the Office of the Comptroller of the Currency (OCC) Federally Preempted state laws regulating mortgage credit and national banks. What was the impact of this OCC Federal Preemption ?
Corporate Structure: None of the Wall Street partnerships got into trouble, only the publicly traded iBanks. Partnerships have full personal liability for their losses. What was the impact of this lack of personal liability of senior management on Wall Street risk management?
Comment: Some of these come close to being purely rhetorical in the sense that (I suspect) Barry feels he knows the answer, and that the answer is damning to the culprits. For every one of them, I suspect somebody over at the American Enterprise Institute will be ready with a memo showing that it was a total non-issue and oh look! There's Barney Frank! Even given AEIs risible record of "research," still a number of these do represent real issues on which I'd love to have a better sense of who is right. Example: repeal of Glass Steagall is part of the standard mantra. Yet wouldn't I be right that the worst afflicted banks (Bear Stearns, Lehman) are the ones least diversified, the ones that took least advantage of Glass Steagall repeal? Can we document that Federal preemption really changed anything?
I know, that's not really his point--his point being to try to shame four guys who seem to have no sense of shame, and who pass on, as an "investigation report," a set of AEI talking points that they could have drafted before the commission was ever appointed.
robert shumake detroit
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
John Roberts switches to FOX <b>News</b> | Inside TV | EW.com
John Roberts, the veteran newsman who co-hosted CNN's American Morning for three years, is joining the competition. “We are excited to welcome Jo...
New Edition of Huckleberry Finn to Drop N-Word: Instant Reactions
Auburn University professor Alan Gribben, along with NewSouth Books, plans to release a newly edited edition of the Mark Twain classic, with every instance of the N-word replaced with the word.
robert shumake detroit
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
John Roberts switches to FOX <b>News</b> | Inside TV | EW.com
John Roberts, the veteran newsman who co-hosted CNN's American Morning for three years, is joining the competition. “We are excited to welcome Jo...
New Edition of Huckleberry Finn to Drop N-Word: Instant Reactions
Auburn University professor Alan Gribben, along with NewSouth Books, plans to release a newly edited edition of the Mark Twain classic, with every instance of the N-word replaced with the word.
robert shumake detroit
and, contra to an earlier Post, on “Quants”, these are the ‘Data Jockeys’ to pay attention to–ask Jim Simons, see if he agrees..
curbyourrisk Says:
December 9th, 2010 at 9:12 am
Great tool…….WOW…..Farmingdale is loaded. Funny, when I looked up at the North Shore of Long Island (where all the beautiful people live)…..NONE!!! But then again, they are beter than the rest of us.
rktbrkr Says:
December 9th, 2010 at 9:32 am
Fannie has an online listing of their REOs, only 3% downpayment required with 3.5% allowance for owner-occupied – so essentially nothing down. No appraisal or mortgage ins required. Nothing said about title ins. Special financing for renovations/repairs.
I believe there will be at least one more wave of markdowns in the sand states once the foreclosure train regains momentum, the normal areas might be near bottom now as long as we can hold at 90% employment.
If BB screws up and mortgage rates soar then it’s good night Irene for homeowers even at this level
http://www.homepath.com/
beaufou Says:
December 9th, 2010 at 9:32 am
Can you google map the notes for those foreclosures?
Livermore Shimervore Says:
December 9th, 2010 at 10:33 am
interesting: Click on both the “For Sale” and “Foreclosure” check boxes and then unclick “For Sale”. Very different maps.
curbyourrisk Says:
December 9th, 2010 at 11:28 am
But, but Barry said the bottom was in/near in housing…
http://www.bloomberg.com/news/2010-12-09/homes-in-u-s-poised-to-lose-1-7-trillion-in-value-this-year-zillow-says.html
Mannwich Says:
December 9th, 2010 at 12:13 pm
This one is a must-read today:
http://www.correntewire.com/why_obama_tax_deal_republicans_insane
louis Says:
December 9th, 2010 at 1:16 pm
Move along, these aren’t the dots your looking for – Que Ostrich.
Google Maps adds Foreclosure Results » The Art of Short Sales Says:
December 9th, 2010 at 3:14 pm
[...] interesting find over at The Big Picture, detailing how to use Google Maps to find foreclosures: Google Maps keeps evolving, expanding the ability to drill down into granular detail. The latest [...]
Use a Google Maps Filter to See Nearby Foreclosures [Real Estate] | Berry Live Says:
December 9th, 2010 at 4:02 pm
[...] state of the economy, and for seeing what homes go for when they’ve been left in the wind. Google Map Foreclosure Tricks [The Big Picture via BoingBoing [...]
Foreclosure Listing On Google Maps? « Daniel's Rants & Raves Says:
December 9th, 2010 at 5:24 pm
[...] I know Google Maps can be used to see directions to some place in the area you never been to, you can see street views of places, and so many other wonderful uses for Google Maps but now you can actually check the Foreclosures in a particular area using Google’s Map Service which is crazy, check out this article for more Details HERE. [...]
FMT Says:
December 9th, 2010 at 6:56 pm
Immensely sad to reflect on the family stress and pain many of these dots will represent.
michael Says:
December 9th, 2010 at 11:06 pm
its probably worth noting that even this badly understates the problem. a home across the street from me was short-sold and the family lost all of their equity and the money’s for a major addition they had put into it; they of course aren’t shown. also, the house next to them went through foreclosure. its since been bought and a new family is living there. since its not currently in foreclosure, its not displayed either.
Rob Says:
December 9th, 2010 at 11:07 pm
Been having fun looking at foreclosure properties in my area this morning.
Didn’t know that was even a possibility on GM.
Stumbled upon something that was really cool that I’ve never seen before.
Well sort of. If you look at a property using the “street view” then you
can checkout the area around the property. (yeah, bear with me, I know that
isn’t “new”) But while you looking at it in street view, right mouse click
on the image and select “3D mode on.” Now that’s bad ass.
I use to do mechanical design work and our computer did a similar “trick” as
this. When you were designing a 3D part you could put it in 3D mode and the
part you were designing became 3D (with the glasses of course) While it was
a super nifty trick, it didn’t have much purpose in the design process.
Similar to this street view thing I guess, really nifty but not much
purpose…. yet.
In case the 3D thing isn’t available everywhere, here’s the property I was
looking at.
http://maps.google.com/maps?
Rob
TheCenterLane Says:
December 10th, 2010 at 3:51 am
I wouldn’t get too excited about that unit at 3425 Collins Ave. I used to live right nearby for 9 years.
Even in this depressed market: You get what you pay for.
Caveat Emptor. ‘Nuff said.
zato Says:
December 10th, 2010 at 1:12 pm
These are NOT foreclosure listings. They are FOR SALE listings.
I looked at my neighborhood and ever single house that is for sale is designated a foreclosure according to google maps with “foreclosure” checked. Every single one. Now I know some of my neighbors and they are not in foreclosure.
The data is bad, folks.
Amazing & Staggering – Foreclosure Maps | Roylat.com Says:
December 10th, 2010 at 2:58 pm
[...] out the full article and set of maps – and instructions on how to do it yourself [...]
paulks Says:
December 11th, 2010 at 11:25 am
The data doesn’t represent what we think it does, or what the title implies. I asked a real estate insider about this map. His reply:
“That is a pretty neat system. Unfortunately, it’s not a very accurate or useful system to me, it looks like it just generates hits to foreclosure “sale” websites, which in turn makes my client call me and ask to see a property that was sold weeks ago. The interesting thing is that nobody can actually sell a foreclosure except the public trustee, they only take cash, and they don’t advertise. The news media has done a good job of confusing the public about what a foreclosure really is. All these houses may be in the foreclosure process at some point, or have already gone through foreclosure. Most appear to be bank owned or short sales or distressed sales, etc.
I looked up a couple I know about and the system appears to only be linked to these commercial websites, not the current MLS. 1375 S Vrain is shown on the map as being listed for $145k. I know it went through and completed foreclosure nearly a year ago, and the bank sold it at auction 10 days ago for $74,000 (to my investors)”
Foreclosures on Google Maps | Mapsys.info Says:
December 12th, 2010 at 5:55 pm
[...] The Big Picture has been looking at a number of areas on Google Maps to assess the impact of the downturn on people’s homes. [...]
Matrix » Google Maps Shows Us Our Foreclosure Skeletons Says:
December 12th, 2010 at 7:04 pm
[...] is why Barry Ritholtz’s The Big Picture is a must read – always a trove of cool insight – this time its (via ChartPorn) [...]
America’s Spreading Foreclosure Pandemic — use Google’s foreclosure maps to expose the extent of foreclosures nationwide and in your neighborhood « Dregs of the Future Says:
December 13th, 2010 at 1:17 pm
[...] Amazing US default and foreclosure maps [...]
Quora Says:
December 13th, 2010 at 4:09 pm
How to find foreclosing apartments?…
Google provides an interesting solution for this though I cannot confirm if their results are relevant. Basically go to Google Maps, punch in any US address and hit the More button besides Traffic. There is an option for Real Estate, check that and on …
Cogitator Says:
December 13th, 2010 at 5:12 pm
This seems to be for homes that have been foreclosed on. There are many others that are in the process, but have not yet been, as they say, sold on the courthouse steps to make this list. If all of the homes that are in the process of being foreclosed were on on this map, it would look much worse.
Buce:
Underbelly: The Blogger has Questions: They say the Devil has nine questions. Barry Ritholtz has ten; he poses them to the four guys [Peter Wallison, Keith Hennessey, Bill Thomas and Douglas Holtz-Eakin] who didn't finish their term paper:
From 2001 to 2003, Alan Greenspan took rates down to levels not seen in almost half a century, then kept them there for an unprecedentedly long period. What was the impact of ultra low interest rates on Housing, credit, the bond markets, and derivatives?
How significant were the Ratings Agencies (S&P, Moodys and Fitch) to the collapse? What did their AAA ratings on junk derivatives affect? What about their being paid directly by underwriters for these ratings?
The Commodities Futures Modernization Act of 2000 removed all Derivatives from all oversight, including reserve requirements, exchange listings, and disclosures. What effect did the CFMA have on firms such as AIG, Bear, Lehman, Citi, Bank of America?
Prior to 2004, Investment Houses were limited to 12-to-1 leverage by the SEC’s net capitalization rule. In 2004, the 5 largest investment banks asked for, and received, a full exemption from leverage restrictions (known as the Bear Stearns exemption) These five firms all jacked up their leverage. What impact did this increased leverage have on the crisis?
For seven decades, Glass Steagall separated FDIC insured depository banks from riskier investment houses. Prior to the repeal of Glass Steagall in 1998, the market had regular crashes that did not spill over into the real economy: 1966, 1970, 1974, and most telling of all, 1987. What impact did the repeal of Glass Steagall have on the banking system during the 2008-09 crash?
NonBank Lenders: Most of the sub-prime mortgages were made by unregulated non-bank lenders. They had a ”Lend to securitize” business model, and they sold enormous amounts of subprime loans to Wall Street for this purpose. Primarily located in California, they were also unregulated by both the Federal Reserve and the California State legislator. What was the impact of these firms?
These firms abdicated traditional lending standards. They pushed option arms, interest only loans, and negative amortization mortgages, all of which defaulted in huge numbers. Was non-bank sub prime lending a major factor in the crisis?
The entire world had a simultaneous global housing boom and bust. US legislation such as the CRA or Fannie & Freddie only covered US housing and lenders. How did this cause a worldwide boom and bust — even bigger than that in the US ?
Prior to the 2004, many States had Anti-Predatory Lending (APL) laws on their books (and lower defaults and foreclosure rates). In 2004, the Office of the Comptroller of the Currency (OCC) Federally Preempted state laws regulating mortgage credit and national banks. What was the impact of this OCC Federal Preemption ?
Corporate Structure: None of the Wall Street partnerships got into trouble, only the publicly traded iBanks. Partnerships have full personal liability for their losses. What was the impact of this lack of personal liability of senior management on Wall Street risk management?
Comment: Some of these come close to being purely rhetorical in the sense that (I suspect) Barry feels he knows the answer, and that the answer is damning to the culprits. For every one of them, I suspect somebody over at the American Enterprise Institute will be ready with a memo showing that it was a total non-issue and oh look! There's Barney Frank! Even given AEIs risible record of "research," still a number of these do represent real issues on which I'd love to have a better sense of who is right. Example: repeal of Glass Steagall is part of the standard mantra. Yet wouldn't I be right that the worst afflicted banks (Bear Stearns, Lehman) are the ones least diversified, the ones that took least advantage of Glass Steagall repeal? Can we document that Federal preemption really changed anything?
I know, that's not really his point--his point being to try to shame four guys who seem to have no sense of shame, and who pass on, as an "investigation report," a set of AEI talking points that they could have drafted before the commission was ever appointed.
robert shumake
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
John Roberts switches to FOX <b>News</b> | Inside TV | EW.com
John Roberts, the veteran newsman who co-hosted CNN's American Morning for three years, is joining the competition. “We are excited to welcome Jo...
New Edition of Huckleberry Finn to Drop N-Word: Instant Reactions
Auburn University professor Alan Gribben, along with NewSouth Books, plans to release a newly edited edition of the Mark Twain classic, with every instance of the N-word replaced with the word.
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
John Roberts switches to FOX <b>News</b> | Inside TV | EW.com
John Roberts, the veteran newsman who co-hosted CNN's American Morning for three years, is joining the competition. “We are excited to welcome Jo...
New Edition of Huckleberry Finn to Drop N-Word: Instant Reactions
Auburn University professor Alan Gribben, along with NewSouth Books, plans to release a newly edited edition of the Mark Twain classic, with every instance of the N-word replaced with the word.
robert shumake
Jacksonville Foreclosure Listings creates a mixed reaction among people. For some it is a mirror image of their distressed financial situation, inability to pay loan installments and permanent loss of their home. But for some, it is a profitable investment and an easy way to buy equity-rich properties at a lower price. Foreclosures might occur due to two reasons. One is borrower's failure to reimburse home equity loan installment. Second is the mounting tax burden on the home. In the first case, commercial banks and other lenders are the foreclosing agency. In the second case government forecloses properties.
Government foreclosures can also happen due to another reason. In some cases, government acts as a guarantor before the lender on behalf of the lender. If the borrower fails, government forecloses the property to return money to the lender. A property on the verge of foreclosure is known as distress home. The nomenclature has nothing to with the equity and condition of the home. They are rich in equity and only in few cases they require little innovation. In Jacksonville, judicial intervention is mandatory for foreclosure and sale of distress home. Power of sale option is ruled out here as deed of trust is not the credit instrument.
Auction is not the spontaneous result of foreclosure. Before it a lot of legal proceedings are carried out. The homeowner is also given ample chance to pay the default amount and legal costs borne by the lender. If the borrower does not abide by this instruction court issues foreclosure sale notice. It is displayed in court room and other public places. But, newspaper advertisement is not marked in case of judicial foreclosures. Hence regular visit to court rooms or scanning of foreclosed properties appearing at real estate websites will help a lot in this regard. Before participating in auction of properties appearing at Jacksonville Foreclosure Listings, make your homework perfectly. You need to arrange the required cash before the date of auction. All legal and financial terminologies should be understood properly. If finding any difficulty in this regard, you are advised to hire a professional real estate agent. Physical inspection of the property should be done before bidding at auction. It helps you to have an exact idea about locality of the property, facilities available, inherent equity and required renovation. All these contribute significantly in making your deal better.
robert shumake detroit
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
John Roberts switches to FOX <b>News</b> | Inside TV | EW.com
John Roberts, the veteran newsman who co-hosted CNN's American Morning for three years, is joining the competition. “We are excited to welcome Jo...
New Edition of Huckleberry Finn to Drop N-Word: Instant Reactions
Auburn University professor Alan Gribben, along with NewSouth Books, plans to release a newly edited edition of the Mark Twain classic, with every instance of the N-word replaced with the word.
robert shumake
robert shumake detroit
and, contra to an earlier Post, on “Quants”, these are the ‘Data Jockeys’ to pay attention to–ask Jim Simons, see if he agrees..
curbyourrisk Says:
December 9th, 2010 at 9:12 am
Great tool…….WOW…..Farmingdale is loaded. Funny, when I looked up at the North Shore of Long Island (where all the beautiful people live)…..NONE!!! But then again, they are beter than the rest of us.
rktbrkr Says:
December 9th, 2010 at 9:32 am
Fannie has an online listing of their REOs, only 3% downpayment required with 3.5% allowance for owner-occupied – so essentially nothing down. No appraisal or mortgage ins required. Nothing said about title ins. Special financing for renovations/repairs.
I believe there will be at least one more wave of markdowns in the sand states once the foreclosure train regains momentum, the normal areas might be near bottom now as long as we can hold at 90% employment.
If BB screws up and mortgage rates soar then it’s good night Irene for homeowers even at this level
http://www.homepath.com/
beaufou Says:
December 9th, 2010 at 9:32 am
Can you google map the notes for those foreclosures?
Livermore Shimervore Says:
December 9th, 2010 at 10:33 am
interesting: Click on both the “For Sale” and “Foreclosure” check boxes and then unclick “For Sale”. Very different maps.
curbyourrisk Says:
December 9th, 2010 at 11:28 am
But, but Barry said the bottom was in/near in housing…
http://www.bloomberg.com/news/2010-12-09/homes-in-u-s-poised-to-lose-1-7-trillion-in-value-this-year-zillow-says.html
Mannwich Says:
December 9th, 2010 at 12:13 pm
This one is a must-read today:
http://www.correntewire.com/why_obama_tax_deal_republicans_insane
louis Says:
December 9th, 2010 at 1:16 pm
Move along, these aren’t the dots your looking for – Que Ostrich.
Google Maps adds Foreclosure Results » The Art of Short Sales Says:
December 9th, 2010 at 3:14 pm
[...] interesting find over at The Big Picture, detailing how to use Google Maps to find foreclosures: Google Maps keeps evolving, expanding the ability to drill down into granular detail. The latest [...]
Use a Google Maps Filter to See Nearby Foreclosures [Real Estate] | Berry Live Says:
December 9th, 2010 at 4:02 pm
[...] state of the economy, and for seeing what homes go for when they’ve been left in the wind. Google Map Foreclosure Tricks [The Big Picture via BoingBoing [...]
Foreclosure Listing On Google Maps? « Daniel's Rants & Raves Says:
December 9th, 2010 at 5:24 pm
[...] I know Google Maps can be used to see directions to some place in the area you never been to, you can see street views of places, and so many other wonderful uses for Google Maps but now you can actually check the Foreclosures in a particular area using Google’s Map Service which is crazy, check out this article for more Details HERE. [...]
FMT Says:
December 9th, 2010 at 6:56 pm
Immensely sad to reflect on the family stress and pain many of these dots will represent.
michael Says:
December 9th, 2010 at 11:06 pm
its probably worth noting that even this badly understates the problem. a home across the street from me was short-sold and the family lost all of their equity and the money’s for a major addition they had put into it; they of course aren’t shown. also, the house next to them went through foreclosure. its since been bought and a new family is living there. since its not currently in foreclosure, its not displayed either.
Rob Says:
December 9th, 2010 at 11:07 pm
Been having fun looking at foreclosure properties in my area this morning.
Didn’t know that was even a possibility on GM.
Stumbled upon something that was really cool that I’ve never seen before.
Well sort of. If you look at a property using the “street view” then you
can checkout the area around the property. (yeah, bear with me, I know that
isn’t “new”) But while you looking at it in street view, right mouse click
on the image and select “3D mode on.” Now that’s bad ass.
I use to do mechanical design work and our computer did a similar “trick” as
this. When you were designing a 3D part you could put it in 3D mode and the
part you were designing became 3D (with the glasses of course) While it was
a super nifty trick, it didn’t have much purpose in the design process.
Similar to this street view thing I guess, really nifty but not much
purpose…. yet.
In case the 3D thing isn’t available everywhere, here’s the property I was
looking at.
http://maps.google.com/maps?
Rob
TheCenterLane Says:
December 10th, 2010 at 3:51 am
I wouldn’t get too excited about that unit at 3425 Collins Ave. I used to live right nearby for 9 years.
Even in this depressed market: You get what you pay for.
Caveat Emptor. ‘Nuff said.
zato Says:
December 10th, 2010 at 1:12 pm
These are NOT foreclosure listings. They are FOR SALE listings.
I looked at my neighborhood and ever single house that is for sale is designated a foreclosure according to google maps with “foreclosure” checked. Every single one. Now I know some of my neighbors and they are not in foreclosure.
The data is bad, folks.
Amazing & Staggering – Foreclosure Maps | Roylat.com Says:
December 10th, 2010 at 2:58 pm
[...] out the full article and set of maps – and instructions on how to do it yourself [...]
paulks Says:
December 11th, 2010 at 11:25 am
The data doesn’t represent what we think it does, or what the title implies. I asked a real estate insider about this map. His reply:
“That is a pretty neat system. Unfortunately, it’s not a very accurate or useful system to me, it looks like it just generates hits to foreclosure “sale” websites, which in turn makes my client call me and ask to see a property that was sold weeks ago. The interesting thing is that nobody can actually sell a foreclosure except the public trustee, they only take cash, and they don’t advertise. The news media has done a good job of confusing the public about what a foreclosure really is. All these houses may be in the foreclosure process at some point, or have already gone through foreclosure. Most appear to be bank owned or short sales or distressed sales, etc.
I looked up a couple I know about and the system appears to only be linked to these commercial websites, not the current MLS. 1375 S Vrain is shown on the map as being listed for $145k. I know it went through and completed foreclosure nearly a year ago, and the bank sold it at auction 10 days ago for $74,000 (to my investors)”
Foreclosures on Google Maps | Mapsys.info Says:
December 12th, 2010 at 5:55 pm
[...] The Big Picture has been looking at a number of areas on Google Maps to assess the impact of the downturn on people’s homes. [...]
Matrix » Google Maps Shows Us Our Foreclosure Skeletons Says:
December 12th, 2010 at 7:04 pm
[...] is why Barry Ritholtz’s The Big Picture is a must read – always a trove of cool insight – this time its (via ChartPorn) [...]
America’s Spreading Foreclosure Pandemic — use Google’s foreclosure maps to expose the extent of foreclosures nationwide and in your neighborhood « Dregs of the Future Says:
December 13th, 2010 at 1:17 pm
[...] Amazing US default and foreclosure maps [...]
Quora Says:
December 13th, 2010 at 4:09 pm
How to find foreclosing apartments?…
Google provides an interesting solution for this though I cannot confirm if their results are relevant. Basically go to Google Maps, punch in any US address and hit the More button besides Traffic. There is an option for Real Estate, check that and on …
Cogitator Says:
December 13th, 2010 at 5:12 pm
This seems to be for homes that have been foreclosed on. There are many others that are in the process, but have not yet been, as they say, sold on the courthouse steps to make this list. If all of the homes that are in the process of being foreclosed were on on this map, it would look much worse.
Buce:
Underbelly: The Blogger has Questions: They say the Devil has nine questions. Barry Ritholtz has ten; he poses them to the four guys [Peter Wallison, Keith Hennessey, Bill Thomas and Douglas Holtz-Eakin] who didn't finish their term paper:
From 2001 to 2003, Alan Greenspan took rates down to levels not seen in almost half a century, then kept them there for an unprecedentedly long period. What was the impact of ultra low interest rates on Housing, credit, the bond markets, and derivatives?
How significant were the Ratings Agencies (S&P, Moodys and Fitch) to the collapse? What did their AAA ratings on junk derivatives affect? What about their being paid directly by underwriters for these ratings?
The Commodities Futures Modernization Act of 2000 removed all Derivatives from all oversight, including reserve requirements, exchange listings, and disclosures. What effect did the CFMA have on firms such as AIG, Bear, Lehman, Citi, Bank of America?
Prior to 2004, Investment Houses were limited to 12-to-1 leverage by the SEC’s net capitalization rule. In 2004, the 5 largest investment banks asked for, and received, a full exemption from leverage restrictions (known as the Bear Stearns exemption) These five firms all jacked up their leverage. What impact did this increased leverage have on the crisis?
For seven decades, Glass Steagall separated FDIC insured depository banks from riskier investment houses. Prior to the repeal of Glass Steagall in 1998, the market had regular crashes that did not spill over into the real economy: 1966, 1970, 1974, and most telling of all, 1987. What impact did the repeal of Glass Steagall have on the banking system during the 2008-09 crash?
NonBank Lenders: Most of the sub-prime mortgages were made by unregulated non-bank lenders. They had a ”Lend to securitize” business model, and they sold enormous amounts of subprime loans to Wall Street for this purpose. Primarily located in California, they were also unregulated by both the Federal Reserve and the California State legislator. What was the impact of these firms?
These firms abdicated traditional lending standards. They pushed option arms, interest only loans, and negative amortization mortgages, all of which defaulted in huge numbers. Was non-bank sub prime lending a major factor in the crisis?
The entire world had a simultaneous global housing boom and bust. US legislation such as the CRA or Fannie & Freddie only covered US housing and lenders. How did this cause a worldwide boom and bust — even bigger than that in the US ?
Prior to the 2004, many States had Anti-Predatory Lending (APL) laws on their books (and lower defaults and foreclosure rates). In 2004, the Office of the Comptroller of the Currency (OCC) Federally Preempted state laws regulating mortgage credit and national banks. What was the impact of this OCC Federal Preemption ?
Corporate Structure: None of the Wall Street partnerships got into trouble, only the publicly traded iBanks. Partnerships have full personal liability for their losses. What was the impact of this lack of personal liability of senior management on Wall Street risk management?
Comment: Some of these come close to being purely rhetorical in the sense that (I suspect) Barry feels he knows the answer, and that the answer is damning to the culprits. For every one of them, I suspect somebody over at the American Enterprise Institute will be ready with a memo showing that it was a total non-issue and oh look! There's Barney Frank! Even given AEIs risible record of "research," still a number of these do represent real issues on which I'd love to have a better sense of who is right. Example: repeal of Glass Steagall is part of the standard mantra. Yet wouldn't I be right that the worst afflicted banks (Bear Stearns, Lehman) are the ones least diversified, the ones that took least advantage of Glass Steagall repeal? Can we document that Federal preemption really changed anything?
I know, that's not really his point--his point being to try to shame four guys who seem to have no sense of shame, and who pass on, as an "investigation report," a set of AEI talking points that they could have drafted before the commission was ever appointed.
robert shumake
Movie <b>News</b> Quick Hits: Bigfoot to get the 'Avatar' Treatment <b>...</b>
A leaked costume test from MGM's completed-but-shelved remake of 1984's 'Red Dawn' has found its way online. It's not much, but thanks to MGM's.
John Roberts switches to FOX <b>News</b> | Inside TV | EW.com
John Roberts, the veteran newsman who co-hosted CNN's American Morning for three years, is joining the competition. “We are excited to welcome Jo...
New Edition of Huckleberry Finn to Drop N-Word: Instant Reactions
Auburn University professor Alan Gribben, along with NewSouth Books, plans to release a newly edited edition of the Mark Twain classic, with every instance of the N-word replaced with the word.
robert shumake detroit
robert shumake
No comments:
Post a Comment