Shadow Inventory
Another Shadow Story
From the latimes.com: A supply of 1.7 million homes headed for sale because of foreclosure or delinquency looms over the nation's housing market, which could dampen progress toward recovery should the Obama administration fail in its efforts to aid struggling...
“Rich Aren’t As Rich”
From bloomberg.com, hat tip PH! Homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate and some are turning to so-called short sales to unload properties as stock-market losses and pay cuts squeeze wealthy borrowers. "The rich...
FR Report
December 15, 2009 - ForeclosureRadar.com, the only website that tracks every California foreclosure and provides daily auction updates, issued its monthly California Foreclosure Report for November 2009. Despite apparent headline month-over-month declines in...
The Big Discombobulation
Coming Attractions
With resale inventory so limited in the coastal region, we could sure use some new product:
Touring
All of these have their trustee-sale date scheduled in the next couple of weeks. The last two houses are active short-sale listings, the gray house on 4th is listed for $2.195, and the oceanfront house has its short-sale approved for $2.86 million - but no takers....
Are Trustee Sales For You?
For those who were on vacation last week and are interested in trustee sales, we did an informative trilogy with Adam Rappoport. Click here to start at the beginning, and scroll up from there - and read the comments, Adam was very candid in responding numerous times!...
Latest F/C Report
Hat tip to Tom for sending this along. Sean at foreclosureradar.com has published his latest report: https://s3.amazonaws.com/CA_Foreclosure_Report/September+2009+CA+Foreclosure+Report.pdf Excerpts: With 90,365 properties in inventory, banks currently carry about 4.77...
Only The Shadow
Here's one more 16-page report on shadow inventory, with many charts and graphs: http://matrix.millersamuel.com/wp-content/3q09/Amherst%20Mortgage%20Insight%2009232009.pdf An excerpt: The single largest impediment to a recovery in the housing market is the large...
