now when I talk about phantom inventory I’m not even trying to pry open that can of worms of “hidden REOs.” I’m just talking about the NODs that’s upcoming and becoming REOs in 3-4 months (or 6-9 months of late). overwhelmingly these NODs are not on the MLS, where as in ’06 and ’07 they were. every month we are looking at well over 3000 homes getting NODs, and very very few of that is listed for sale currently. how long will it take to get on to the MLS as REOs, who knows these days, but all that NODs have to go somewhere, no?
