[quote=sdrealtor]
The worst has come and gone already. The best is a distant dream but your nightmare predictions did not come to pass nor will they. Take it like a man.[/quote]
“The worst has come and gone already” said the realtor. NAR pimp much?
To go along with the good Doctor’s article linked above, here is a look at SD:
RealtyTrac shows that “14696 properties match your search” for:
Preforclosures, Auction, Bank Owned and Homes for sale.
Of these “Resale MLS” shows just 1605 properties.
14696 distressed properties versus 1605 on the MLS. Nope, no shadow inventory to worry about (says the realtor). Even those with Elton John sized Rose glasses can’t deny those figures. Before we get into the deny the reality with arguments claiming RealtyTrac is not accurate, keep in mind we could cut that 14696 figure in half it would still be awful and still prove the shadow theory, and that realtors always default to… its a great time to buy, the worst is behind us or some other BS.
My own experience with RealtyTrac is that they UNDER-report. I know of many homes that dropped of RT and remain empty and bank owned. 14696 distressed mortgages PLUS the shadow shadow of deadbeats the banks have not yet bothered to put on notice. This mess is far, far from over.
