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April 16, 2009 at 12:28 PM in reply to: the next big step down is coming to mid/high-end areas near you #382019April 16, 2009 at 12:28 PM in reply to: the next big step down is coming to mid/high-end areas near you #382290
Rt.66
ParticipantI guess that’s why they refer to it as the “shadow” inventory huh? Its not out there in the open for all to see easily.
Go to RealtyTrac (RT)and use the free search function. Do you see a ton of REOs, many, many more than are listed on the MLS? There is part of the shadow inventory. The other part is harder to find.
I have seen a property pop up on RT when a NOD was filed and then strangely drop off when the actuall papers were served (I saw them taped to the door). That was two months ago and its still AWOL from RT. One REO I was interested in was on RT for a year, then it went to a Williams and Williams auction, fell off RT, did not sell, is still empty a year later and is still not on RT.
Three homes in my area (same owner) have been in trouble for two years and only briefly showed on RT. I could go on.
Probably the whole point of the shadow inv. is to keep RE prices artificially elevated by hiding the magnitude of the REO problem from potential victims…errrr ah, buyers that is. Judging from the number of bottom callers I guess its doing that to some extent.
April 16, 2009 at 12:28 PM in reply to: the next big step down is coming to mid/high-end areas near you #382480ParticipantI guess that’s why they refer to it as the “shadow” inventory huh? Its not out there in the open for all to see easily.
Go to RealtyTrac (RT)and use the free search function. Do you see a ton of REOs, many, many more than are listed on the MLS? There is part of the shadow inventory. The other part is harder to find.
I have seen a property pop up on RT when a NOD was filed and then strangely drop off when the actuall papers were served (I saw them taped to the door). That was two months ago and its still AWOL from RT. One REO I was interested in was on RT for a year, then it went to a Williams and Williams auction, fell off RT, did not sell, is still empty a year later and is still not on RT.
Three homes in my area (same owner) have been in trouble for two years and only briefly showed on RT. I could go on.
Probably the whole point of the shadow inv. is to keep RE prices artificially elevated by hiding the magnitude of the REO problem from potential victims…errrr ah, buyers that is. Judging from the number of bottom callers I guess its doing that to some extent.
April 16, 2009 at 12:28 PM in reply to: the next big step down is coming to mid/high-end areas near you #382528ParticipantI guess that’s why they refer to it as the “shadow” inventory huh? Its not out there in the open for all to see easily.
Go to RealtyTrac (RT)and use the free search function. Do you see a ton of REOs, many, many more than are listed on the MLS? There is part of the shadow inventory. The other part is harder to find.
I have seen a property pop up on RT when a NOD was filed and then strangely drop off when the actuall papers were served (I saw them taped to the door). That was two months ago and its still AWOL from RT. One REO I was interested in was on RT for a year, then it went to a Williams and Williams auction, fell off RT, did not sell, is still empty a year later and is still not on RT.
Three homes in my area (same owner) have been in trouble for two years and only briefly showed on RT. I could go on.
Probably the whole point of the shadow inv. is to keep RE prices artificially elevated by hiding the magnitude of the REO problem from potential victims…errrr ah, buyers that is. Judging from the number of bottom callers I guess its doing that to some extent.
April 16, 2009 at 12:28 PM in reply to: the next big step down is coming to mid/high-end areas near you #382657ParticipantI guess that’s why they refer to it as the “shadow” inventory huh? Its not out there in the open for all to see easily.
Go to RealtyTrac (RT)and use the free search function. Do you see a ton of REOs, many, many more than are listed on the MLS? There is part of the shadow inventory. The other part is harder to find.
I have seen a property pop up on RT when a NOD was filed and then strangely drop off when the actuall papers were served (I saw them taped to the door). That was two months ago and its still AWOL from RT. One REO I was interested in was on RT for a year, then it went to a Williams and Williams auction, fell off RT, did not sell, is still empty a year later and is still not on RT.
Three homes in my area (same owner) have been in trouble for two years and only briefly showed on RT. I could go on.
Probably the whole point of the shadow inv. is to keep RE prices artificially elevated by hiding the magnitude of the REO problem from potential victims…errrr ah, buyers that is. Judging from the number of bottom callers I guess its doing that to some extent.
ParticipantWhat do you hope to accomplish with a foreclosure service?
I like RealtyTrac. They have a nice interactive map that you can search with, free of charge. The only thing you won’t get is addresses and other details. You have to pay for those. But what good will it do you to find an REO on one of these services? If you can track down the bank that owns the REO, you will be told that all properties that are actually for sale are listed in the MLS with an agent. Unfortuanately this is a very small percentage of the massive REO inventory, you will find.
The banks are not selling, so knowing which bank owns it is not of much use. It is a good idea for everyone interested in catching a knife or enriching a realtor to spend some time looking at the REO situation. Don’t just look at your area of interest, look at the whole state, then AZ and NV and then decide if we are anywhere near a bottom.
ParticipantWhat do you hope to accomplish with a foreclosure service?
I like RealtyTrac. They have a nice interactive map that you can search with, free of charge. The only thing you won’t get is addresses and other details. You have to pay for those. But what good will it do you to find an REO on one of these services? If you can track down the bank that owns the REO, you will be told that all properties that are actually for sale are listed in the MLS with an agent. Unfortuanately this is a very small percentage of the massive REO inventory, you will find.
The banks are not selling, so knowing which bank owns it is not of much use. It is a good idea for everyone interested in catching a knife or enriching a realtor to spend some time looking at the REO situation. Don’t just look at your area of interest, look at the whole state, then AZ and NV and then decide if we are anywhere near a bottom.
ParticipantWhat do you hope to accomplish with a foreclosure service?
I like RealtyTrac. They have a nice interactive map that you can search with, free of charge. The only thing you won’t get is addresses and other details. You have to pay for those. But what good will it do you to find an REO on one of these services? If you can track down the bank that owns the REO, you will be told that all properties that are actually for sale are listed in the MLS with an agent. Unfortuanately this is a very small percentage of the massive REO inventory, you will find.
The banks are not selling, so knowing which bank owns it is not of much use. It is a good idea for everyone interested in catching a knife or enriching a realtor to spend some time looking at the REO situation. Don’t just look at your area of interest, look at the whole state, then AZ and NV and then decide if we are anywhere near a bottom.
ParticipantWhat do you hope to accomplish with a foreclosure service?
I like RealtyTrac. They have a nice interactive map that you can search with, free of charge. The only thing you won’t get is addresses and other details. You have to pay for those. But what good will it do you to find an REO on one of these services? If you can track down the bank that owns the REO, you will be told that all properties that are actually for sale are listed in the MLS with an agent. Unfortuanately this is a very small percentage of the massive REO inventory, you will find.
The banks are not selling, so knowing which bank owns it is not of much use. It is a good idea for everyone interested in catching a knife or enriching a realtor to spend some time looking at the REO situation. Don’t just look at your area of interest, look at the whole state, then AZ and NV and then decide if we are anywhere near a bottom.
ParticipantWhat do you hope to accomplish with a foreclosure service?
I like RealtyTrac. They have a nice interactive map that you can search with, free of charge. The only thing you won’t get is addresses and other details. You have to pay for those. But what good will it do you to find an REO on one of these services? If you can track down the bank that owns the REO, you will be told that all properties that are actually for sale are listed in the MLS with an agent. Unfortuanately this is a very small percentage of the massive REO inventory, you will find.
The banks are not selling, so knowing which bank owns it is not of much use. It is a good idea for everyone interested in catching a knife or enriching a realtor to spend some time looking at the REO situation. Don’t just look at your area of interest, look at the whole state, then AZ and NV and then decide if we are anywhere near a bottom.
ParticipantArmed as we are with all these facts about the “shadow inventory” and the coming storm of resets and the last two months setting records for NODs, someone will still post a:
“Is now a good time to buy?” thread. And many over-eager house wanters will give their pro oppinion as to why you needn’t be concerned with 80k houses in CA’s shadow inventory or 15% unemployment or a complete global financial melt-down. Realtors will have many a “now’s a good time to buy” type replies, as always.
RTC-2 is my guess on what the banks are waiting for. TPTB have kept housing artificially high for a year and a half into the bursting bubble. Think of how many knife catchers the bank are profiting from because of that subterfuge.
Geithner will eventually come out with RTC-2 and take the houses off the bank’s books at some inflated fantasy price and then auction them off fast, furious and cheap. Then recovery can start.
ParticipantArmed as we are with all these facts about the “shadow inventory” and the coming storm of resets and the last two months setting records for NODs, someone will still post a:
“Is now a good time to buy?” thread. And many over-eager house wanters will give their pro oppinion as to why you needn’t be concerned with 80k houses in CA’s shadow inventory or 15% unemployment or a complete global financial melt-down. Realtors will have many a “now’s a good time to buy” type replies, as always.
RTC-2 is my guess on what the banks are waiting for. TPTB have kept housing artificially high for a year and a half into the bursting bubble. Think of how many knife catchers the bank are profiting from because of that subterfuge.
Geithner will eventually come out with RTC-2 and take the houses off the bank’s books at some inflated fantasy price and then auction them off fast, furious and cheap. Then recovery can start.
ParticipantArmed as we are with all these facts about the “shadow inventory” and the coming storm of resets and the last two months setting records for NODs, someone will still post a:
“Is now a good time to buy?” thread. And many over-eager house wanters will give their pro oppinion as to why you needn’t be concerned with 80k houses in CA’s shadow inventory or 15% unemployment or a complete global financial melt-down. Realtors will have many a “now’s a good time to buy” type replies, as always.
RTC-2 is my guess on what the banks are waiting for. TPTB have kept housing artificially high for a year and a half into the bursting bubble. Think of how many knife catchers the bank are profiting from because of that subterfuge.
Geithner will eventually come out with RTC-2 and take the houses off the bank’s books at some inflated fantasy price and then auction them off fast, furious and cheap. Then recovery can start.
ParticipantArmed as we are with all these facts about the “shadow inventory” and the coming storm of resets and the last two months setting records for NODs, someone will still post a:
“Is now a good time to buy?” thread. And many over-eager house wanters will give their pro oppinion as to why you needn’t be concerned with 80k houses in CA’s shadow inventory or 15% unemployment or a complete global financial melt-down. Realtors will have many a “now’s a good time to buy” type replies, as always.
RTC-2 is my guess on what the banks are waiting for. TPTB have kept housing artificially high for a year and a half into the bursting bubble. Think of how many knife catchers the bank are profiting from because of that subterfuge.
Geithner will eventually come out with RTC-2 and take the houses off the bank’s books at some inflated fantasy price and then auction them off fast, furious and cheap. Then recovery can start.
ParticipantArmed as we are with all these facts about the “shadow inventory” and the coming storm of resets and the last two months setting records for NODs, someone will still post a:
“Is now a good time to buy?” thread. And many over-eager house wanters will give their pro oppinion as to why you needn’t be concerned with 80k houses in CA’s shadow inventory or 15% unemployment or a complete global financial melt-down. Realtors will have many a “now’s a good time to buy” type replies, as always.
RTC-2 is my guess on what the banks are waiting for. TPTB have kept housing artificially high for a year and a half into the bursting bubble. Think of how many knife catchers the bank are profiting from because of that subterfuge.
Geithner will eventually come out with RTC-2 and take the houses off the bank’s books at some inflated fantasy price and then auction them off fast, furious and cheap. Then recovery can start.
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