[Effective Demand]

[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

[Effective Demand]

[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

[Effective Demand]

[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

[Effective Demand]

[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

[Effective Demand]

[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

[Effective Demand]

[quote=Casca]ED, your San Diego URL is pointing at Ventura data.[/quote]

Well that was stupid of me! I fixed it, thanks for the heads up.

[Effective Demand]

[quote=Casca]ED, your San Diego URL is pointing at Ventura data.[/quote]

Well that was stupid of me! I fixed it, thanks for the heads up.

[Effective Demand]

[quote=Casca]ED, your San Diego URL is pointing at Ventura data.[/quote]

Well that was stupid of me! I fixed it, thanks for the heads up.

[Effective Demand]

[quote=Casca]ED, your San Diego URL is pointing at Ventura data.[/quote]

Well that was stupid of me! I fixed it, thanks for the heads up.

[Effective Demand]

[quote=Casca]ED, your San Diego URL is pointing at Ventura data.[/quote]

Well that was stupid of me! I fixed it, thanks for the heads up.

[Effective Demand]

[quote=SD Realtor]ED it could be a slippery slope. What if the OP was on an auto MLS feed and got the new listing information from email that the original agent sent? Getting the cancellation agreement is always the cleanest way to sever the relationship. Even with that cancellation, IF the OP goes back to one of the homes that the original realtor showed them, it would be best to use the original realtor to buy that previously shown home just to make triple sure. I would agree it would be best to consult an attorney.[/quote]

Again, from everything I have read regarding procuring cause it is about the uninterrupted chain of events leading to an offer. The agent refusing to submit an offer breaks the chain. I would always of course try for a written piece of paper just to make things clean. But I still feel outside of a previously signed agreement that the agent in question would have no leg to stand on. Thats just one anonymous persons non-legal opinion on the matter.

[Effective Demand]

[quote=SD Realtor]ED it could be a slippery slope. What if the OP was on an auto MLS feed and got the new listing information from email that the original agent sent? Getting the cancellation agreement is always the cleanest way to sever the relationship. Even with that cancellation, IF the OP goes back to one of the homes that the original realtor showed them, it would be best to use the original realtor to buy that previously shown home just to make triple sure. I would agree it would be best to consult an attorney.[/quote]

Again, from everything I have read regarding procuring cause it is about the uninterrupted chain of events leading to an offer. The agent refusing to submit an offer breaks the chain. I would always of course try for a written piece of paper just to make things clean. But I still feel outside of a previously signed agreement that the agent in question would have no leg to stand on. Thats just one anonymous persons non-legal opinion on the matter.

[Effective Demand]

[quote=SD Realtor]ED it could be a slippery slope. What if the OP was on an auto MLS feed and got the new listing information from email that the original agent sent? Getting the cancellation agreement is always the cleanest way to sever the relationship. Even with that cancellation, IF the OP goes back to one of the homes that the original realtor showed them, it would be best to use the original realtor to buy that previously shown home just to make triple sure. I would agree it would be best to consult an attorney.[/quote]

Again, from everything I have read regarding procuring cause it is about the uninterrupted chain of events leading to an offer. The agent refusing to submit an offer breaks the chain. I would always of course try for a written piece of paper just to make things clean. But I still feel outside of a previously signed agreement that the agent in question would have no leg to stand on. Thats just one anonymous persons non-legal opinion on the matter.

[Effective Demand]

[quote=SD Realtor]ED it could be a slippery slope. What if the OP was on an auto MLS feed and got the new listing information from email that the original agent sent? Getting the cancellation agreement is always the cleanest way to sever the relationship. Even with that cancellation, IF the OP goes back to one of the homes that the original realtor showed them, it would be best to use the original realtor to buy that previously shown home just to make triple sure. I would agree it would be best to consult an attorney.[/quote]

Again, from everything I have read regarding procuring cause it is about the uninterrupted chain of events leading to an offer. The agent refusing to submit an offer breaks the chain. I would always of course try for a written piece of paper just to make things clean. But I still feel outside of a previously signed agreement that the agent in question would have no leg to stand on. Thats just one anonymous persons non-legal opinion on the matter.

[Effective Demand]

[quote=SD Realtor]ED it could be a slippery slope. What if the OP was on an auto MLS feed and got the new listing information from email that the original agent sent? Getting the cancellation agreement is always the cleanest way to sever the relationship. Even with that cancellation, IF the OP goes back to one of the homes that the original realtor showed them, it would be best to use the original realtor to buy that previously shown home just to make triple sure. I would agree it would be best to consult an attorney.[/quote]

Again, from everything I have read regarding procuring cause it is about the uninterrupted chain of events leading to an offer. The agent refusing to submit an offer breaks the chain. I would always of course try for a written piece of paper just to make things clean. But I still feel outside of a previously signed agreement that the agent in question would have no leg to stand on. Thats just one anonymous persons non-legal opinion on the matter.

[Author]

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