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  • July 21, 2009 at 9:40 PM #435648
    Effective Demand
    Participant

    [quote=AK]If I had a dollar for every time some “well-connected insider” down here said the banks were about to open the REO floodgates …

    Trust no one! :)[/quote]

    I agree 100%. I’ve talked to agents who “just got off the phone with an Asset Manager” and you get the floodgates are opening. Hasn’t happened.

    You can look at what trustee sales have happened (public records).. and then go look at if those properties have been listed (MLS). For the areas near population centers and active markets, You’ll be sorely disapointed if you are expecting any huge number of REOs sitting in the wings outside of the normal float (in eviction, trash out, waiting for pricing, etc) and a few stragglers that are tied up due to various reasons.

    Shadow inventory consists of the large amount of homes sitting on the sidelines that CAN be taken back by the banks but aren’t. IMHO it does not generally consist of a large number of homes that have been taken back but aren’t being sold (outside of the lag time for eviction, trash out, BPO, etc).

    This is a reason I follow trustee sales with these graphs, they are the leading indicators of “near” future inventory:
    http://effectivedemand.blogspot.com/2009/07/mid-july-foreclosure-update-for-san.html

    July 21, 2009 at 9:40 PM #434887
    an
    Participant

    [quote=AK]If I had a dollar for every time some “well-connected insider” down here said the banks were about to open the REO floodgates …

    Trust no one! :)[/quote]
    “In God we trust. Everyone else, bring data.” That’s our moto and I’m sticking w/ it. I’ll believe the flood gate claim when I see it. People were claiming the flood gate would get open in June. June came and went w/out a peep.

    July 21, 2009 at 9:40 PM #435093
    an
    Participant

    [quote=AK]If I had a dollar for every time some “well-connected insider” down here said the banks were about to open the REO floodgates …

    Trust no one! :)[/quote]
    “In God we trust. Everyone else, bring data.” That’s our moto and I’m sticking w/ it. I’ll believe the flood gate claim when I see it. People were claiming the flood gate would get open in June. June came and went w/out a peep.

    July 21, 2009 at 9:40 PM #435410
    an
    Participant

    [quote=AK]If I had a dollar for every time some “well-connected insider” down here said the banks were about to open the REO floodgates …

    Trust no one! :)[/quote]
    “In God we trust. Everyone else, bring data.” That’s our moto and I’m sticking w/ it. I’ll believe the flood gate claim when I see it. People were claiming the flood gate would get open in June. June came and went w/out a peep.

    July 21, 2009 at 9:40 PM #435484
    an
    Participant

    [quote=AK]If I had a dollar for every time some “well-connected insider” down here said the banks were about to open the REO floodgates …

    Trust no one! :)[/quote]
    “In God we trust. Everyone else, bring data.” That’s our moto and I’m sticking w/ it. I’ll believe the flood gate claim when I see it. People were claiming the flood gate would get open in June. June came and went w/out a peep.

    July 21, 2009 at 9:40 PM #435652
    an
    Participant

    [quote=AK]If I had a dollar for every time some “well-connected insider” down here said the banks were about to open the REO floodgates …

    Trust no one! :)[/quote]
    “In God we trust. Everyone else, bring data.” That’s our moto and I’m sticking w/ it. I’ll believe the flood gate claim when I see it. People were claiming the flood gate would get open in June. June came and went w/out a peep.

    July 21, 2009 at 10:59 PM #434907
    Anonymous
    Guest

    for now we have a ‘shadow tsunami’

    July 21, 2009 at 10:59 PM #435113
    Anonymous
    Guest

    for now we have a ‘shadow tsunami’

    July 21, 2009 at 10:59 PM #435430
    Anonymous
    Guest

    for now we have a ‘shadow tsunami’

    July 21, 2009 at 10:59 PM #435504
    Anonymous
    Guest

    for now we have a ‘shadow tsunami’

    July 21, 2009 at 10:59 PM #435672
    Anonymous
    Guest

    for now we have a ‘shadow tsunami’

    July 22, 2009 at 12:41 AM #434951
    SD Realtor
    Participant

    This was already posted on another thread by a intuitive poster but if you look at the stats for june trustee sales it was the largest increase for a long long time.

    July 22, 2009 at 12:41 AM #435158
    SD Realtor
    Participant

    This was already posted on another thread by a intuitive poster but if you look at the stats for june trustee sales it was the largest increase for a long long time.

    July 22, 2009 at 12:41 AM #435475
    SD Realtor
    Participant

    This was already posted on another thread by a intuitive poster but if you look at the stats for june trustee sales it was the largest increase for a long long time.

    July 22, 2009 at 12:41 AM #435549
    SD Realtor
    Participant

    This was already posted on another thread by a intuitive poster but if you look at the stats for june trustee sales it was the largest increase for a long long time.

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