Lists may be available

[Mike Boyd]

A mortgage broker client sent me lists from 3 major wholesale mortgage buyers that identify declining markets. The 3 that I received are Wells Fargo, Citimortgage and SunTrust Mortgage. There may be others. The lists came directly from one of the brokerage houses sent as a memo to their agents. Wells also tells of appraisal requirements they must look for before submitting the loans.

 

[Pamela Crowley (Florida)]

Will you please forward those to me???
Please... pec514 @ yahoo. com

 

[CANative]

Will you please forward those to me???
Please... pec514 @ yahoo. com

Noooo!! Now he's going to call me up and ask how to scan them and then get them into his email. I'll be on the phone for hours.m2:

 

[TJSum]

Fannie Mae also puts a declining market warning on their DU for the lenders. Is there anyway we can access this info? As far as I know it is based on zip codes. What statistical source do they use, or is it their own? My local MLS has monthly stats, but am wondering if they concur with what Fannie Mae looks at ???

 

[Vegan702]

I don't rely on others to tell me if my market is declining, I just look at my data.

 

[Pamela Crowley (Florida)]

Noooo!! Now he's going to call me up and ask how to scan them and then get them into his email. I'll be on the phone for hours.m2:

Want my fax number?

 

[TJSum]

I don't rely on others to tell me if my market is declining, I just look at my data.

It is best to gather data from as many sources as possible...

 

[Doug Meyer]

Greg: you dangle the carrot in front of us and then pull it away!! shame shame shame :Eyecrazy: :laugh:

 

[Mike Boyd]

Noooo!! Now he's going to call me up and ask how to scan them and then get them into his email. I'll be on the phone for hours.m2:

That's what kids are for! What else are you good for? LOL

 

[Jim Bartley]

I don't rely on others to tell me if my market is declining, I just look at my data.

I agree. Some of the national data I have seen leaves a lot to be desired as far as painting a true picture. I only know of one source that calculates trend in values correctly. That's the OFHEO. They use a weighted-repeat sales method. Most of the others use a simple average of sales prices which can be distorted by normal market conditions. For example, in a cooling market you could have fewer sales of higher priced homes, which brings the average price down. That's not the same as "declining" values. I always look at the average price AND the average price per sq. ft.