Well, it appears none of you really believe my explanation of the RealtyTrac numbers. So be it. I thought I'd post a few of your replies, although I'm not adding the ones that claim I'm being paid by the company. Trust me, I wish I had some extra income coming in, but sorry to say I don't freelance. Here's what you have to say:
Paul A. writes:
I don't believe we are looking at an "apples to apples" comparison versus the year ago numbers. During the relatively stronger market of '06, a home was less likely to go through the entire 3 step process. Therefore, if we were single or double counting homes in '06 but are now triple counting them, the increases reported by RealtyTrac are inflated. I believe their data is directionally valid, but the "true" increase in foreclosures will likely be 50% to 60% and not the 90% they are currently reporting after they change their methodology.
I do not believe anything this company states. If it was garbage in this year and garbage in last year, then the increase or decrease is based on garbage. Anytime I have looked up properties on this site, after signing up, the addresses did not exist.
John Z says:
Here's an interesting recent article I found on the internet that may tie into your "RealtyTrac: Real Numbers or Hype?" story:(read it here).This was posted by a Real Estate consulting firm in CA and they are claiming that the housing numbers are much worse than what is being reported. Regards.
And from Kerry in California:
Saying that they have been counting home numbers the same way for years, and that will therefore make your numbers correct is just a idiotic. Did they count them 3 times or 2 or 4 last year? Maybe they could find a way to count them 6 time this year? Who knows?? The real estate market is surely down from the all time high figures of the last few years and prices are back to more realistic numbers; but there are areas here in Northern California, where there is no inventory at all, and new listings get multiple bids.
Questions? Comments? RealtyCheck@cnbc.com