So, where are all the foreclosures?

[PadreBrian]

[quote=jpinpb]Here’s one you’ll all enjoy. 3593 Ethan Allen.

I happened to be crusing around on my Vespa yesterday and noticed this place, all fenced up and looked like it was half demolished and half attempt at fixing. But it was not in progress as the weeds pretty much took over the yard. I was thinking someone was going to make it their dream home, but probably more like someone doing a fix and flip.

Bought 08/04/2006 for $725k. The NOD was filed way back 12/13/07. Foreclosure finally was scheduled 4/1/08. Original Loan : $640,000.00 – WaMu special. I never noticed it in the MLS, but it says it sold 04/18/2008 for $671k. I don’t know if that’s the price back to the bank or if someone somehow bought it.

Nevertheless, it took the bank well over a year and it was not listed for sale or short sale or even habitable. What excuse could they possible have for sitting on a wreck of a house?
[/quote]
The prop tax shows it’s an individual. Just a lol flipper, not a bank.

[PadreBrian]

[quote=jpinpb]Jim’s got some info on shadow inventory[/quote]

I love love love Jim, but “shadow” isn’t the right word. They are properties that are after the NOD and before they hit the market. We have seen it takes months, if not a year to hit market. Banks aren’t hiding, they are incompetent. No one here has produced an address that the bank didn’t finally sell.

[PadreBrian]

[quote=jpinpb]Jim’s got some info on shadow inventory[/quote]

I love love love Jim, but “shadow” isn’t the right word. They are properties that are after the NOD and before they hit the market. We have seen it takes months, if not a year to hit market. Banks aren’t hiding, they are incompetent. No one here has produced an address that the bank didn’t finally sell.

[PadreBrian]

[quote=jpinpb]Jim’s got some info on shadow inventory[/quote]

I love love love Jim, but “shadow” isn’t the right word. They are properties that are after the NOD and before they hit the market. We have seen it takes months, if not a year to hit market. Banks aren’t hiding, they are incompetent. No one here has produced an address that the bank didn’t finally sell.

[PadreBrian]

[quote=jpinpb]Jim’s got some info on shadow inventory[/quote]

I love love love Jim, but “shadow” isn’t the right word. They are properties that are after the NOD and before they hit the market. We have seen it takes months, if not a year to hit market. Banks aren’t hiding, they are incompetent. No one here has produced an address that the bank didn’t finally sell.

[PadreBrian]

[quote=jpinpb]Jim’s got some info on shadow inventory[/quote]

I love love love Jim, but “shadow” isn’t the right word. They are properties that are after the NOD and before they hit the market. We have seen it takes months, if not a year to hit market. Banks aren’t hiding, they are incompetent. No one here has produced an address that the bank didn’t finally sell.

[garysears]

I’ve noticed over the past year and a half or so that in Spring Valley and Encanto there are bank owned properties with signs out front that are not listed on the MLS.

At one point last year it seemed like for every one on the MLS there was one not. I interpreted that to mean the banks were trying to reduce the apparent inventory, but I can’t see how that strategy would actually help any particular bank. The more I think about it, the more I am perplexed.

It would seem most advantageous to the banks to reach the widest market possible.

[garysears]

I’ve noticed over the past year and a half or so that in Spring Valley and Encanto there are bank owned properties with signs out front that are not listed on the MLS.

At one point last year it seemed like for every one on the MLS there was one not. I interpreted that to mean the banks were trying to reduce the apparent inventory, but I can’t see how that strategy would actually help any particular bank. The more I think about it, the more I am perplexed.

It would seem most advantageous to the banks to reach the widest market possible.

[garysears]

I’ve noticed over the past year and a half or so that in Spring Valley and Encanto there are bank owned properties with signs out front that are not listed on the MLS.

At one point last year it seemed like for every one on the MLS there was one not. I interpreted that to mean the banks were trying to reduce the apparent inventory, but I can’t see how that strategy would actually help any particular bank. The more I think about it, the more I am perplexed.

It would seem most advantageous to the banks to reach the widest market possible.

[garysears]

I’ve noticed over the past year and a half or so that in Spring Valley and Encanto there are bank owned properties with signs out front that are not listed on the MLS.

At one point last year it seemed like for every one on the MLS there was one not. I interpreted that to mean the banks were trying to reduce the apparent inventory, but I can’t see how that strategy would actually help any particular bank. The more I think about it, the more I am perplexed.

It would seem most advantageous to the banks to reach the widest market possible.

[garysears]

I’ve noticed over the past year and a half or so that in Spring Valley and Encanto there are bank owned properties with signs out front that are not listed on the MLS.

At one point last year it seemed like for every one on the MLS there was one not. I interpreted that to mean the banks were trying to reduce the apparent inventory, but I can’t see how that strategy would actually help any particular bank. The more I think about it, the more I am perplexed.

It would seem most advantageous to the banks to reach the widest market possible.

[sdrealtor]

I just spoke to a friend that does alot of REO listings. He said he has gotten 3 new files this year. When he gets them assigned they usually take a couple months to hit the market. I asked him when he thought the pipeline would start flowing freely and he didnt see it happening anytime soon.

[sdrealtor]

I just spoke to a friend that does alot of REO listings. He said he has gotten 3 new files this year. When he gets them assigned they usually take a couple months to hit the market. I asked him when he thought the pipeline would start flowing freely and he didnt see it happening anytime soon.

[sdrealtor]

I just spoke to a friend that does alot of REO listings. He said he has gotten 3 new files this year. When he gets them assigned they usually take a couple months to hit the market. I asked him when he thought the pipeline would start flowing freely and he didnt see it happening anytime soon.

[sdrealtor]

I just spoke to a friend that does alot of REO listings. He said he has gotten 3 new files this year. When he gets them assigned they usually take a couple months to hit the market. I asked him when he thought the pipeline would start flowing freely and he didnt see it happening anytime soon.

[Author]

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