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pemeliza.
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March 7, 2011 at 6:32 PM #675797March 8, 2011 at 12:49 AM #674708
CA renter
Participant[quote=bearishgurl][quote=jpinpb] . . . Just today as I was looking I stumbled upon this 2105 W California. According to Redfin, it is bank owned as of May 2010. It went back to bene at basically 2004 pricing. It still is not listed.[/quote]
It’s possible that there are foundation, land subsidence or mold problems in the crawlspace with it and the lender (on the east coast?) hasn’t quite figured out what to do about this yet. Just my guess, having knowledge of this area.[/quote]
Nope. Redfin apparently made some changes, and we now get to see the foreclosures in our neighborhood. We’ve known of a few in our area, but they never came up for sale, and we didn’t know what was happeing to them. They’ve been sitting empty for a long, long, long time. Either it’s a MERS issue, or they are holding this inventory off the market.
Thanks to redfin, you can now see this inventory in almost all neighborhoods. I’ve even seen it in the Los Angeles neighborhoods I keep track of. It’s not about foundations, but something else…
I’ve heard that BofA is going to hold some inventory off the market for up to five years. There’s no reason to believe they are the only ones with this plan in mind. They are going to board them up and just sit on them. Most of the homes I see in the “shadow inventory” are owned by (bank) trusts. This is part of that “shadow inventory” we keep hearing about, and why some of us are very fearful about buying.
March 8, 2011 at 12:49 AM #674765Participant[quote=bearishgurl][quote=jpinpb] . . . Just today as I was looking I stumbled upon this 2105 W California. According to Redfin, it is bank owned as of May 2010. It went back to bene at basically 2004 pricing. It still is not listed.[/quote]
It’s possible that there are foundation, land subsidence or mold problems in the crawlspace with it and the lender (on the east coast?) hasn’t quite figured out what to do about this yet. Just my guess, having knowledge of this area.[/quote]
Nope. Redfin apparently made some changes, and we now get to see the foreclosures in our neighborhood. We’ve known of a few in our area, but they never came up for sale, and we didn’t know what was happeing to them. They’ve been sitting empty for a long, long, long time. Either it’s a MERS issue, or they are holding this inventory off the market.
Thanks to redfin, you can now see this inventory in almost all neighborhoods. I’ve even seen it in the Los Angeles neighborhoods I keep track of. It’s not about foundations, but something else…
I’ve heard that BofA is going to hold some inventory off the market for up to five years. There’s no reason to believe they are the only ones with this plan in mind. They are going to board them up and just sit on them. Most of the homes I see in the “shadow inventory” are owned by (bank) trusts. This is part of that “shadow inventory” we keep hearing about, and why some of us are very fearful about buying.
March 8, 2011 at 12:49 AM #675379Participant[quote=bearishgurl][quote=jpinpb] . . . Just today as I was looking I stumbled upon this 2105 W California. According to Redfin, it is bank owned as of May 2010. It went back to bene at basically 2004 pricing. It still is not listed.[/quote]
It’s possible that there are foundation, land subsidence or mold problems in the crawlspace with it and the lender (on the east coast?) hasn’t quite figured out what to do about this yet. Just my guess, having knowledge of this area.[/quote]
Nope. Redfin apparently made some changes, and we now get to see the foreclosures in our neighborhood. We’ve known of a few in our area, but they never came up for sale, and we didn’t know what was happeing to them. They’ve been sitting empty for a long, long, long time. Either it’s a MERS issue, or they are holding this inventory off the market.
Thanks to redfin, you can now see this inventory in almost all neighborhoods. I’ve even seen it in the Los Angeles neighborhoods I keep track of. It’s not about foundations, but something else…
I’ve heard that BofA is going to hold some inventory off the market for up to five years. There’s no reason to believe they are the only ones with this plan in mind. They are going to board them up and just sit on them. Most of the homes I see in the “shadow inventory” are owned by (bank) trusts. This is part of that “shadow inventory” we keep hearing about, and why some of us are very fearful about buying.
March 8, 2011 at 12:49 AM #675515Participant[quote=bearishgurl][quote=jpinpb] . . . Just today as I was looking I stumbled upon this 2105 W California. According to Redfin, it is bank owned as of May 2010. It went back to bene at basically 2004 pricing. It still is not listed.[/quote]
It’s possible that there are foundation, land subsidence or mold problems in the crawlspace with it and the lender (on the east coast?) hasn’t quite figured out what to do about this yet. Just my guess, having knowledge of this area.[/quote]
Nope. Redfin apparently made some changes, and we now get to see the foreclosures in our neighborhood. We’ve known of a few in our area, but they never came up for sale, and we didn’t know what was happeing to them. They’ve been sitting empty for a long, long, long time. Either it’s a MERS issue, or they are holding this inventory off the market.
Thanks to redfin, you can now see this inventory in almost all neighborhoods. I’ve even seen it in the Los Angeles neighborhoods I keep track of. It’s not about foundations, but something else…
I’ve heard that BofA is going to hold some inventory off the market for up to five years. There’s no reason to believe they are the only ones with this plan in mind. They are going to board them up and just sit on them. Most of the homes I see in the “shadow inventory” are owned by (bank) trusts. This is part of that “shadow inventory” we keep hearing about, and why some of us are very fearful about buying.
March 8, 2011 at 12:49 AM #675861Participant[quote=bearishgurl][quote=jpinpb] . . . Just today as I was looking I stumbled upon this 2105 W California. According to Redfin, it is bank owned as of May 2010. It went back to bene at basically 2004 pricing. It still is not listed.[/quote]
It’s possible that there are foundation, land subsidence or mold problems in the crawlspace with it and the lender (on the east coast?) hasn’t quite figured out what to do about this yet. Just my guess, having knowledge of this area.[/quote]
Nope. Redfin apparently made some changes, and we now get to see the foreclosures in our neighborhood. We’ve known of a few in our area, but they never came up for sale, and we didn’t know what was happeing to them. They’ve been sitting empty for a long, long, long time. Either it’s a MERS issue, or they are holding this inventory off the market.
Thanks to redfin, you can now see this inventory in almost all neighborhoods. I’ve even seen it in the Los Angeles neighborhoods I keep track of. It’s not about foundations, but something else…
I’ve heard that BofA is going to hold some inventory off the market for up to five years. There’s no reason to believe they are the only ones with this plan in mind. They are going to board them up and just sit on them. Most of the homes I see in the “shadow inventory” are owned by (bank) trusts. This is part of that “shadow inventory” we keep hearing about, and why some of us are very fearful about buying.
March 8, 2011 at 3:17 AM #674713pemeliza
ParticipantCAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.
March 8, 2011 at 3:17 AM #674770ParticipantCAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.
March 8, 2011 at 3:17 AM #675384ParticipantCAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.
March 8, 2011 at 3:17 AM #675520ParticipantCAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.
March 8, 2011 at 3:17 AM #675866ParticipantCAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.
March 8, 2011 at 11:03 PM #675141Participant[quote=pemeliza]CAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.[/quote]
pemeliza,
It depends greatly on the neighborhood. Surprisingly, some of the areas that have seen the greatest declines are still showing a greater number of foreclosures.
In our area, the “forclosed and sitting for months/years” inventory is pretty small compared to listed inventory; maybe 1/4 to 1/3 of the size of listed inventory in certain areas, even less than that in others.
March 8, 2011 at 11:03 PM #675198Participant[quote=pemeliza]CAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.[/quote]
pemeliza,
It depends greatly on the neighborhood. Surprisingly, some of the areas that have seen the greatest declines are still showing a greater number of foreclosures.
In our area, the “forclosed and sitting for months/years” inventory is pretty small compared to listed inventory; maybe 1/4 to 1/3 of the size of listed inventory in certain areas, even less than that in others.
March 8, 2011 at 11:03 PM #675810Participant[quote=pemeliza]CAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.[/quote]
pemeliza,
It depends greatly on the neighborhood. Surprisingly, some of the areas that have seen the greatest declines are still showing a greater number of foreclosures.
In our area, the “forclosed and sitting for months/years” inventory is pretty small compared to listed inventory; maybe 1/4 to 1/3 of the size of listed inventory in certain areas, even less than that in others.
March 8, 2011 at 11:03 PM #675946Participant[quote=pemeliza]CAR, I have not seen this new redfin feature in action yet. How does the number of “shadow inventory” homes you are seeing compare with the current “available inventory”. Is it 2x, 3x, or more?
That one on California seems very close to the I-5.
On another note, the list prices in 92103 for detached homes continue to tank:
Total Houses 88
Average Price $986,181
Median Price $767,500
Average PPSF $451
Median PPSF $443Judging by the sales volume these prices don’t really seem to be all that close to market clearing levels either.[/quote]
pemeliza,
It depends greatly on the neighborhood. Surprisingly, some of the areas that have seen the greatest declines are still showing a greater number of foreclosures.
In our area, the “forclosed and sitting for months/years” inventory is pretty small compared to listed inventory; maybe 1/4 to 1/3 of the size of listed inventory in certain areas, even less than that in others.
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