here’s the million $ answer from Jim the Realtor’s encounter with a guy that bought a > $900k home in Valley Center that is now a REO but is still living there:
“No one was home when I was there Sunday morning at 8:30 am (temp was 95 degrees!), but I caught the kids over there late in the afternoon.
Pops called me back when he got home, and explained that with five kids and asssorted family members living there, they couldn’t possibly move for a couple of months. He plans to leave the state.”
that’s right, I know I haven’t paid the mortgage payment for months and I have been living rent free. And yes, I know the house is now officially the bank’s. But due to all the kids and family members, we’ll be hanging out here for just a few more months if you don’t mind. Think of the CHILDREN!!!
there’s one of your phantom/shadow inventory for you.
