Shadow Inventory – The Flood that May Never Come

[fishsticks]

Especially in the context of all the black helicopter talk, maybe the right question to ask is not why there are so few foreclosures, but why is it that some foreclosures are coming on the market and who exactly is responsible for listing those foreclosures? Is there a pattern?

[jpinpb]

[quote=PadreBrian]Give me an address or two…92130, please.

There’s really no argument here. Some banks are slow as rap, but they are either refinanced or come back on the market. [/quote]

These are a few places w/NODs that are not listed, have not been listed, not attempting short sales. They are recent listings (this year).

14014 Calle Cardenas
10545 Abalone Landing Terrace
4686 Wispering Woods Ct
6379 Oleander Way
13376 Kibbings Rd
3912 Lago Di Grata Cir
4511 Saluto Ct
3633 Ruette De Ville
13740 Rosecroft Way
3863 Creststone Pl
12728 Via Nieve
12934 Harwick Ln
5160 White Emerald Dr
13362 Winstanley Way
13562 Jadestone Way
13781 Rosecroft Way
6616 Chase Way

TG – I can get info on properties for loans that have defaults as far as the bank and loan info, price, etc. But I do not have info on loans in general, for example, if someone bought a house and later takes a HELOC, unless they have a NOD, I don’t have info on their loan.

I also don’t have info on if someone has a NOD and gets it re-worked. I can try to contact the bank. Many times the foreclosure dates get postponed. I’ve seen some properties from last year get redeemed that have new NODs now.

We discussed this on another thread. It would be nice if it were online or more transparent or more easily accessible. I’m not sure how to get loan mod info. I imagine county. Perhaps title/realtor?

[jpinpb]

[quote=PadreBrian]Give me an address or two…92130, please.

There’s really no argument here. Some banks are slow as rap, but they are either refinanced or come back on the market. [/quote]

These are a few places w/NODs that are not listed, have not been listed, not attempting short sales. They are recent listings (this year).

14014 Calle Cardenas
10545 Abalone Landing Terrace
4686 Wispering Woods Ct
6379 Oleander Way
13376 Kibbings Rd
3912 Lago Di Grata Cir
4511 Saluto Ct
3633 Ruette De Ville
13740 Rosecroft Way
3863 Creststone Pl
12728 Via Nieve
12934 Harwick Ln
5160 White Emerald Dr
13362 Winstanley Way
13562 Jadestone Way
13781 Rosecroft Way
6616 Chase Way

TG – I can get info on properties for loans that have defaults as far as the bank and loan info, price, etc. But I do not have info on loans in general, for example, if someone bought a house and later takes a HELOC, unless they have a NOD, I don’t have info on their loan.

I also don’t have info on if someone has a NOD and gets it re-worked. I can try to contact the bank. Many times the foreclosure dates get postponed. I’ve seen some properties from last year get redeemed that have new NODs now.

We discussed this on another thread. It would be nice if it were online or more transparent or more easily accessible. I’m not sure how to get loan mod info. I imagine county. Perhaps title/realtor?

[jpinpb]

[quote=PadreBrian]Give me an address or two…92130, please.

There’s really no argument here. Some banks are slow as rap, but they are either refinanced or come back on the market. [/quote]

These are a few places w/NODs that are not listed, have not been listed, not attempting short sales. They are recent listings (this year).

14014 Calle Cardenas
10545 Abalone Landing Terrace
4686 Wispering Woods Ct
6379 Oleander Way
13376 Kibbings Rd
3912 Lago Di Grata Cir
4511 Saluto Ct
3633 Ruette De Ville
13740 Rosecroft Way
3863 Creststone Pl
12728 Via Nieve
12934 Harwick Ln
5160 White Emerald Dr
13362 Winstanley Way
13562 Jadestone Way
13781 Rosecroft Way
6616 Chase Way

TG – I can get info on properties for loans that have defaults as far as the bank and loan info, price, etc. But I do not have info on loans in general, for example, if someone bought a house and later takes a HELOC, unless they have a NOD, I don’t have info on their loan.

I also don’t have info on if someone has a NOD and gets it re-worked. I can try to contact the bank. Many times the foreclosure dates get postponed. I’ve seen some properties from last year get redeemed that have new NODs now.

We discussed this on another thread. It would be nice if it were online or more transparent or more easily accessible. I’m not sure how to get loan mod info. I imagine county. Perhaps title/realtor?

[jpinpb]

[quote=PadreBrian]Give me an address or two…92130, please.

There’s really no argument here. Some banks are slow as rap, but they are either refinanced or come back on the market. [/quote]

These are a few places w/NODs that are not listed, have not been listed, not attempting short sales. They are recent listings (this year).

14014 Calle Cardenas
10545 Abalone Landing Terrace
4686 Wispering Woods Ct
6379 Oleander Way
13376 Kibbings Rd
3912 Lago Di Grata Cir
4511 Saluto Ct
3633 Ruette De Ville
13740 Rosecroft Way
3863 Creststone Pl
12728 Via Nieve
12934 Harwick Ln
5160 White Emerald Dr
13362 Winstanley Way
13562 Jadestone Way
13781 Rosecroft Way
6616 Chase Way

TG – I can get info on properties for loans that have defaults as far as the bank and loan info, price, etc. But I do not have info on loans in general, for example, if someone bought a house and later takes a HELOC, unless they have a NOD, I don’t have info on their loan.

I also don’t have info on if someone has a NOD and gets it re-worked. I can try to contact the bank. Many times the foreclosure dates get postponed. I’ve seen some properties from last year get redeemed that have new NODs now.

We discussed this on another thread. It would be nice if it were online or more transparent or more easily accessible. I’m not sure how to get loan mod info. I imagine county. Perhaps title/realtor?

[jpinpb]

[quote=PadreBrian]Give me an address or two…92130, please.

There’s really no argument here. Some banks are slow as rap, but they are either refinanced or come back on the market. [/quote]

These are a few places w/NODs that are not listed, have not been listed, not attempting short sales. They are recent listings (this year).

14014 Calle Cardenas
10545 Abalone Landing Terrace
4686 Wispering Woods Ct
6379 Oleander Way
13376 Kibbings Rd
3912 Lago Di Grata Cir
4511 Saluto Ct
3633 Ruette De Ville
13740 Rosecroft Way
3863 Creststone Pl
12728 Via Nieve
12934 Harwick Ln
5160 White Emerald Dr
13362 Winstanley Way
13562 Jadestone Way
13781 Rosecroft Way
6616 Chase Way

TG – I can get info on properties for loans that have defaults as far as the bank and loan info, price, etc. But I do not have info on loans in general, for example, if someone bought a house and later takes a HELOC, unless they have a NOD, I don’t have info on their loan.

I also don’t have info on if someone has a NOD and gets it re-worked. I can try to contact the bank. Many times the foreclosure dates get postponed. I’ve seen some properties from last year get redeemed that have new NODs now.

We discussed this on another thread. It would be nice if it were online or more transparent or more easily accessible. I’m not sure how to get loan mod info. I imagine county. Perhaps title/realtor?

[davelj]

jpinpb, what would you guess is the estimated size of the foreclosure inventory that’s NOT on the MLS (or “in the stats,” so to speak)?

I think right now there are about 13K properties for sale in SD county. That’s the official number. I’m guessing that about half of these are foreclosures.

Anecdotally, I’m familiar with a few large condo projects – one old and very large, two newer – and it appears that there’s about one non-MLS foreclosure for each one that’s listed. But that’s a small sample.

Anyhow, if we assume that there’s one “shadow” foreclosure for every foreclosure actually on the MLS, then that would add about 6,500 foreclosures to the “real” SD county inventory. 6,500 seems like an pretty large number of non-MLS foreclosures even for a county the size of SD, but… I suppose it could be that large. Or larger. Why not?

Since you’ve been noodling around with these property numbers a lot, what’s your guess? And I’m not talking about future foreclosures. I’m talking already foreclosed properties that just haven’t yet hit the MLS.

[davelj]

jpinpb, what would you guess is the estimated size of the foreclosure inventory that’s NOT on the MLS (or “in the stats,” so to speak)?

I think right now there are about 13K properties for sale in SD county. That’s the official number. I’m guessing that about half of these are foreclosures.

Anecdotally, I’m familiar with a few large condo projects – one old and very large, two newer – and it appears that there’s about one non-MLS foreclosure for each one that’s listed. But that’s a small sample.

Anyhow, if we assume that there’s one “shadow” foreclosure for every foreclosure actually on the MLS, then that would add about 6,500 foreclosures to the “real” SD county inventory. 6,500 seems like an pretty large number of non-MLS foreclosures even for a county the size of SD, but… I suppose it could be that large. Or larger. Why not?

Since you’ve been noodling around with these property numbers a lot, what’s your guess? And I’m not talking about future foreclosures. I’m talking already foreclosed properties that just haven’t yet hit the MLS.

[davelj]

jpinpb, what would you guess is the estimated size of the foreclosure inventory that’s NOT on the MLS (or “in the stats,” so to speak)?

I think right now there are about 13K properties for sale in SD county. That’s the official number. I’m guessing that about half of these are foreclosures.

Anecdotally, I’m familiar with a few large condo projects – one old and very large, two newer – and it appears that there’s about one non-MLS foreclosure for each one that’s listed. But that’s a small sample.

Anyhow, if we assume that there’s one “shadow” foreclosure for every foreclosure actually on the MLS, then that would add about 6,500 foreclosures to the “real” SD county inventory. 6,500 seems like an pretty large number of non-MLS foreclosures even for a county the size of SD, but… I suppose it could be that large. Or larger. Why not?

Since you’ve been noodling around with these property numbers a lot, what’s your guess? And I’m not talking about future foreclosures. I’m talking already foreclosed properties that just haven’t yet hit the MLS.

[davelj]

jpinpb, what would you guess is the estimated size of the foreclosure inventory that’s NOT on the MLS (or “in the stats,” so to speak)?

I think right now there are about 13K properties for sale in SD county. That’s the official number. I’m guessing that about half of these are foreclosures.

Anecdotally, I’m familiar with a few large condo projects – one old and very large, two newer – and it appears that there’s about one non-MLS foreclosure for each one that’s listed. But that’s a small sample.

Anyhow, if we assume that there’s one “shadow” foreclosure for every foreclosure actually on the MLS, then that would add about 6,500 foreclosures to the “real” SD county inventory. 6,500 seems like an pretty large number of non-MLS foreclosures even for a county the size of SD, but… I suppose it could be that large. Or larger. Why not?

Since you’ve been noodling around with these property numbers a lot, what’s your guess? And I’m not talking about future foreclosures. I’m talking already foreclosed properties that just haven’t yet hit the MLS.

[davelj]

jpinpb, what would you guess is the estimated size of the foreclosure inventory that’s NOT on the MLS (or “in the stats,” so to speak)?

I think right now there are about 13K properties for sale in SD county. That’s the official number. I’m guessing that about half of these are foreclosures.

Anecdotally, I’m familiar with a few large condo projects – one old and very large, two newer – and it appears that there’s about one non-MLS foreclosure for each one that’s listed. But that’s a small sample.

Anyhow, if we assume that there’s one “shadow” foreclosure for every foreclosure actually on the MLS, then that would add about 6,500 foreclosures to the “real” SD county inventory. 6,500 seems like an pretty large number of non-MLS foreclosures even for a county the size of SD, but… I suppose it could be that large. Or larger. Why not?

Since you’ve been noodling around with these property numbers a lot, what’s your guess? And I’m not talking about future foreclosures. I’m talking already foreclosed properties that just haven’t yet hit the MLS.

[jpinpb]

Funny you ask b/c I was sifting through Hillcrest posts on SDL trying to find a particular listing I marked and I am surprised to see many places that were attempting to sell that are just gone, fell off the books, not listed, not pending. Some had NODs. These were old posts from last year.

It’s so difficult to say. As I said in the previous post, there were some that had NODs from last year and I just assumed they got redeemed b/c there was no attempt to sell. And now they have a new NOD w/a foreclosure date.

I didn’t keep track of the actual number, so it would be a guess and I wouldn’t venture to post on a blog that deals w/numbers and data and facts.

[jpinpb]

Funny you ask b/c I was sifting through Hillcrest posts on SDL trying to find a particular listing I marked and I am surprised to see many places that were attempting to sell that are just gone, fell off the books, not listed, not pending. Some had NODs. These were old posts from last year.

It’s so difficult to say. As I said in the previous post, there were some that had NODs from last year and I just assumed they got redeemed b/c there was no attempt to sell. And now they have a new NOD w/a foreclosure date.

I didn’t keep track of the actual number, so it would be a guess and I wouldn’t venture to post on a blog that deals w/numbers and data and facts.

[jpinpb]

Funny you ask b/c I was sifting through Hillcrest posts on SDL trying to find a particular listing I marked and I am surprised to see many places that were attempting to sell that are just gone, fell off the books, not listed, not pending. Some had NODs. These were old posts from last year.

It’s so difficult to say. As I said in the previous post, there were some that had NODs from last year and I just assumed they got redeemed b/c there was no attempt to sell. And now they have a new NOD w/a foreclosure date.

I didn’t keep track of the actual number, so it would be a guess and I wouldn’t venture to post on a blog that deals w/numbers and data and facts.

[jpinpb]

Funny you ask b/c I was sifting through Hillcrest posts on SDL trying to find a particular listing I marked and I am surprised to see many places that were attempting to sell that are just gone, fell off the books, not listed, not pending. Some had NODs. These were old posts from last year.

It’s so difficult to say. As I said in the previous post, there were some that had NODs from last year and I just assumed they got redeemed b/c there was no attempt to sell. And now they have a new NOD w/a foreclosure date.

I didn’t keep track of the actual number, so it would be a guess and I wouldn’t venture to post on a blog that deals w/numbers and data and facts.

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