CA Shadow Inventory

[sdrealtor]

Here’s the latest on CA Shadow inventory from the Internet Foreclosure site du jour (foreclosureradar). I’m sure its one of RT 66’s faves so have at it.

https://s3.amazonaws.com/CA_Foreclosure_Report/September+2009+CA+Foreclosure+Report.pdf

[Nor-LA-SD-guy]

Hmmm Seems one way to get the banks to process more foreclosures is to increase the selling price

Or maybe I am reading this wrong, see link below

http://www.housingwire.com/2009/10/15/ca-foreclosures-flatten-az-foreclosures-soar/

But Illinois has issues.

[Nor-LA-SD-guy]

Hmmm Seems one way to get the banks to process more foreclosures is to increase the selling price

Or maybe I am reading this wrong, see link below

http://www.housingwire.com/2009/10/15/ca-foreclosures-flatten-az-foreclosures-soar/

But Illinois has issues.

[Nor-LA-SD-guy]

Hmmm Seems one way to get the banks to process more foreclosures is to increase the selling price

Or maybe I am reading this wrong, see link below

http://www.housingwire.com/2009/10/15/ca-foreclosures-flatten-az-foreclosures-soar/

But Illinois has issues.

[Nor-LA-SD-guy]

Hmmm Seems one way to get the banks to process more foreclosures is to increase the selling price

Or maybe I am reading this wrong, see link below

http://www.housingwire.com/2009/10/15/ca-foreclosures-flatten-az-foreclosures-soar/

But Illinois has issues.

[Nor-LA-SD-guy]

Hmmm Seems one way to get the banks to process more foreclosures is to increase the selling price

Or maybe I am reading this wrong, see link below

http://www.housingwire.com/2009/10/15/ca-foreclosures-flatten-az-foreclosures-soar/

But Illinois has issues.

[weberlin]

I don’t understand the report’s argument that “Bottom line- there is no ‘shadow’ inventory of bank owned homes being intentionally withheld from the market.”

“With 90,365 properties in inventory, banks currently carry about 4.77 months of supply, however, it
takes the banks on average 7.33 months to dispose of a bank owned home, thus current inventory is less
than should be expected…”

What? If it takes 7 months to get rid of a property, and there is a 5 month supply, wouldn’t that lead to an increasing inventory of bank owned homes in the future?

Someone help me out here….

If this is true, that there is no shadow inventory, then what? Has a price floor been set?

[weberlin]

I don’t understand the report’s argument that “Bottom line- there is no ‘shadow’ inventory of bank owned homes being intentionally withheld from the market.”

“With 90,365 properties in inventory, banks currently carry about 4.77 months of supply, however, it
takes the banks on average 7.33 months to dispose of a bank owned home, thus current inventory is less
than should be expected…”

What? If it takes 7 months to get rid of a property, and there is a 5 month supply, wouldn’t that lead to an increasing inventory of bank owned homes in the future?

Someone help me out here….

If this is true, that there is no shadow inventory, then what? Has a price floor been set?

[weberlin]

I don’t understand the report’s argument that “Bottom line- there is no ‘shadow’ inventory of bank owned homes being intentionally withheld from the market.”

“With 90,365 properties in inventory, banks currently carry about 4.77 months of supply, however, it
takes the banks on average 7.33 months to dispose of a bank owned home, thus current inventory is less
than should be expected…”

What? If it takes 7 months to get rid of a property, and there is a 5 month supply, wouldn’t that lead to an increasing inventory of bank owned homes in the future?

Someone help me out here….

If this is true, that there is no shadow inventory, then what? Has a price floor been set?

[weberlin]

I don’t understand the report’s argument that “Bottom line- there is no ‘shadow’ inventory of bank owned homes being intentionally withheld from the market.”

“With 90,365 properties in inventory, banks currently carry about 4.77 months of supply, however, it
takes the banks on average 7.33 months to dispose of a bank owned home, thus current inventory is less
than should be expected…”

What? If it takes 7 months to get rid of a property, and there is a 5 month supply, wouldn’t that lead to an increasing inventory of bank owned homes in the future?

Someone help me out here….

If this is true, that there is no shadow inventory, then what? Has a price floor been set?

[weberlin]

I don’t understand the report’s argument that “Bottom line- there is no ‘shadow’ inventory of bank owned homes being intentionally withheld from the market.”

“With 90,365 properties in inventory, banks currently carry about 4.77 months of supply, however, it
takes the banks on average 7.33 months to dispose of a bank owned home, thus current inventory is less
than should be expected…”

What? If it takes 7 months to get rid of a property, and there is a 5 month supply, wouldn’t that lead to an increasing inventory of bank owned homes in the future?

Someone help me out here….

If this is true, that there is no shadow inventory, then what? Has a price floor been set?

[jameswenn]

There is no shadow inventory. The servicer’s aren’t foreclosing and taking possession of the houses, they’re just sitting out there and people are living in them for nothing.

[jameswenn]

There is no shadow inventory. The servicer’s aren’t foreclosing and taking possession of the houses, they’re just sitting out there and people are living in them for nothing.

[jameswenn]

There is no shadow inventory. The servicer’s aren’t foreclosing and taking possession of the houses, they’re just sitting out there and people are living in them for nothing.

[jameswenn]

There is no shadow inventory. The servicer’s aren’t foreclosing and taking possession of the houses, they’re just sitting out there and people are living in them for nothing.

[Author]

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