Shadow Inventory

[BillyRay]

Has anyone seen any data or analysis on San Diego’s shadow inventory?

“We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market,” said Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures. “California probably represents 80,000 of those homes. It could be disastrous if the banks suddenly flooded the market with those distressed properties. You’d have further depreciation and carnage.”

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/08/MNL516UG90.DTL

[freshman]

http://www3.signonsandiego.com/stories/2009/apr/23/1b23foreclos212215-default-notices-hit-record-coun/

The banks won’t be stupid to flood the market with all foreclocured houses and push down the house price. They will only put them on market little by little, keep the price stable and they won’t lose too much money from selling the house in lower price than 2006/2007.

Also, the mortgage rate is much lower than before, it attracts people to buy now. Locking a lower rate is better than waiting for the uncertain further housing price drop. US prints money, your cash worth less is a big issue too.

Even though the inventory can be last for a year or more, the later you pick up from this pool, the fewer you can pick. People start to pick early, they have more and better choices.

Houses in good areas don’t drop as much as other areas. Go to see the houses or visit sale offices, feel the real market, buyers are going in and out
in good areas with reasonable price. Some good areas, buyers are in waiting list for the new houses.

[freshman]

http://www3.signonsandiego.com/stories/2009/apr/23/1b23foreclos212215-default-notices-hit-record-coun/

The banks won’t be stupid to flood the market with all foreclocured houses and push down the house price. They will only put them on market little by little, keep the price stable and they won’t lose too much money from selling the house in lower price than 2006/2007.

Also, the mortgage rate is much lower than before, it attracts people to buy now. Locking a lower rate is better than waiting for the uncertain further housing price drop. US prints money, your cash worth less is a big issue too.

Even though the inventory can be last for a year or more, the later you pick up from this pool, the fewer you can pick. People start to pick early, they have more and better choices.

Houses in good areas don’t drop as much as other areas. Go to see the houses or visit sale offices, feel the real market, buyers are going in and out
in good areas with reasonable price. Some good areas, buyers are in waiting list for the new houses.

[freshman]

http://www3.signonsandiego.com/stories/2009/apr/23/1b23foreclos212215-default-notices-hit-record-coun/

The banks won’t be stupid to flood the market with all foreclocured houses and push down the house price. They will only put them on market little by little, keep the price stable and they won’t lose too much money from selling the house in lower price than 2006/2007.

Also, the mortgage rate is much lower than before, it attracts people to buy now. Locking a lower rate is better than waiting for the uncertain further housing price drop. US prints money, your cash worth less is a big issue too.

Even though the inventory can be last for a year or more, the later you pick up from this pool, the fewer you can pick. People start to pick early, they have more and better choices.

Houses in good areas don’t drop as much as other areas. Go to see the houses or visit sale offices, feel the real market, buyers are going in and out
in good areas with reasonable price. Some good areas, buyers are in waiting list for the new houses.

[freshman]

http://www3.signonsandiego.com/stories/2009/apr/23/1b23foreclos212215-default-notices-hit-record-coun/

The banks won’t be stupid to flood the market with all foreclocured houses and push down the house price. They will only put them on market little by little, keep the price stable and they won’t lose too much money from selling the house in lower price than 2006/2007.

Also, the mortgage rate is much lower than before, it attracts people to buy now. Locking a lower rate is better than waiting for the uncertain further housing price drop. US prints money, your cash worth less is a big issue too.

Even though the inventory can be last for a year or more, the later you pick up from this pool, the fewer you can pick. People start to pick early, they have more and better choices.

Houses in good areas don’t drop as much as other areas. Go to see the houses or visit sale offices, feel the real market, buyers are going in and out
in good areas with reasonable price. Some good areas, buyers are in waiting list for the new houses.

[freshman]

http://www3.signonsandiego.com/stories/2009/apr/23/1b23foreclos212215-default-notices-hit-record-coun/

The banks won’t be stupid to flood the market with all foreclocured houses and push down the house price. They will only put them on market little by little, keep the price stable and they won’t lose too much money from selling the house in lower price than 2006/2007.

Also, the mortgage rate is much lower than before, it attracts people to buy now. Locking a lower rate is better than waiting for the uncertain further housing price drop. US prints money, your cash worth less is a big issue too.

Even though the inventory can be last for a year or more, the later you pick up from this pool, the fewer you can pick. People start to pick early, they have more and better choices.

Houses in good areas don’t drop as much as other areas. Go to see the houses or visit sale offices, feel the real market, buyers are going in and out
in good areas with reasonable price. Some good areas, buyers are in waiting list for the new houses.

[peterb]

I think banks have a good idea these days about what their portfolios are really worth. Now their problem is how to unload them. I think this is why we have all the stalling going on right now from both the govt and the banks. Foreclosure moratoriums, non-processed NOD’s, etc….
There’s no avoiding reality if a transaction takes place that makes the property value come in-line with the market value. And they know this. Hence the delaying tactics. Kinda like a prisoner on death row. The appeals can go for a very long time. And almost all of them do it.

[peterb]

I think banks have a good idea these days about what their portfolios are really worth. Now their problem is how to unload them. I think this is why we have all the stalling going on right now from both the govt and the banks. Foreclosure moratoriums, non-processed NOD’s, etc….
There’s no avoiding reality if a transaction takes place that makes the property value come in-line with the market value. And they know this. Hence the delaying tactics. Kinda like a prisoner on death row. The appeals can go for a very long time. And almost all of them do it.

[peterb]

I think banks have a good idea these days about what their portfolios are really worth. Now their problem is how to unload them. I think this is why we have all the stalling going on right now from both the govt and the banks. Foreclosure moratoriums, non-processed NOD’s, etc….
There’s no avoiding reality if a transaction takes place that makes the property value come in-line with the market value. And they know this. Hence the delaying tactics. Kinda like a prisoner on death row. The appeals can go for a very long time. And almost all of them do it.

[peterb]

I think banks have a good idea these days about what their portfolios are really worth. Now their problem is how to unload them. I think this is why we have all the stalling going on right now from both the govt and the banks. Foreclosure moratoriums, non-processed NOD’s, etc….
There’s no avoiding reality if a transaction takes place that makes the property value come in-line with the market value. And they know this. Hence the delaying tactics. Kinda like a prisoner on death row. The appeals can go for a very long time. And almost all of them do it.

[peterb]

I think banks have a good idea these days about what their portfolios are really worth. Now their problem is how to unload them. I think this is why we have all the stalling going on right now from both the govt and the banks. Foreclosure moratoriums, non-processed NOD’s, etc….
There’s no avoiding reality if a transaction takes place that makes the property value come in-line with the market value. And they know this. Hence the delaying tactics. Kinda like a prisoner on death row. The appeals can go for a very long time. And almost all of them do it.

[Ren]

[quote=freshman]… They will only put them on market little by little, keep the price stable…
[/quote]

The banks holding onto the properties may slow the drop in home prices, but it won’t stop it.

[Ren]

[quote=freshman]… They will only put them on market little by little, keep the price stable…
[/quote]

The banks holding onto the properties may slow the drop in home prices, but it won’t stop it.

[Ren]

[quote=freshman]… They will only put them on market little by little, keep the price stable…
[/quote]

The banks holding onto the properties may slow the drop in home prices, but it won’t stop it.

[Ren]

[quote=freshman]… They will only put them on market little by little, keep the price stable…
[/quote]

The banks holding onto the properties may slow the drop in home prices, but it won’t stop it.

[Author]

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