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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (17330)	2/15/2004 9:28:05 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<All banking institutions report their loans to the Fed in quite exhaustive detail by computer. For statistical purposes the Fed knows quite a bit about the size of your bank >> And Elroy,what you are neglecting to mention here is the unknown--and maybe huge--number of loans which are done privately, AKA "owner financing." Most real estate investors (residential and commercial) prefer this type of loan and will seek it out any place they can find it. These loans often are below the radar screen of anyone doing any serious research on "who owns what and HOW do they own it?" Smart buyers will see to it that their loans and initial investment (AKA "interest in the property") are recorded at the courthouse, but neither you nor I know how many deals go down without being published in the public records until the deed to the property is actually handed over to the buyer. (And even then, the parties may be too dumb to make sure the finished deal is recorded at the courthouse.)