2009 NOD, NOS and TDs

December TDs totaled 221, barely down from 222 in November, and 319 in October.  2009 totals were 3361, up 23% from 2744 in 2008 and up 433% from 777 in 2007.

NOSs were 366 in December, up from 316 in November, but down from 469 in October.  2009 Totals were 6480, up 20% from 4169 in 2008 and up 431% from 1504 in2007.

NODs were 763 in December, up from 658 in November and about even with October’s 765.  2009 totals were 10,305, up 57% from 6555 in 2008 and up 335% from 3072 in 2007.  Something like 20% of the 2009 NODs were filed by HOAs, about the same as in 2008.  Discounting for the HOA filings, aproximately 10% of all housing units in Washoe County have received at least an NOD in the past 3 years.

I’m not always comfortable with RealtyTrac’s methodology and numbers, but as of year end, they show 3778 properties in pre-foreclosure (90 dyas late or NOD), 1459 Auction (NOS) and 2366 Bank Owned (REO).  The pre-foreclosure number seems drastically low to me by a couple orders of magnitude.  The Auction number is about 4X our monthly NOS numbers, and I think that is about right.  2366 unsold REOs  is at least 4X higher than the Center For Regional Studies Foreclosure Sales data was tracking when they quit publishing public data in September (damn budget cuts).

So what will 2010 hold in store for us?  I think NODs will trend down,.  I think TDs will trend up as all the schmutz the banks are holding off market finally get dumped.  I am at a total loss as to what the median will do, and am not sure that the median is going to be to revelanent stat for a while.  I can easily see it at $240K January 1, 2011, but I can also see BB’s $135K.  A lot comes down to what the Gov’ment is going to do about principle reductions.  The forgiveness is going to go to someone.  Whether it is to the banks or the borrowers may be the tale of 2010.