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I just received an update from ForeclosureRadar, which focuses on California Real Estate Foreclosures titled

NO SHADOW INVENTORY OF BANK OWNED HOMES
Foreclosure Investors Still Finding Discounts at Trustee Sale

Discovery Bay, CA, October 13, 2009- ForeclosureRadar (www.foreclosureradar.com), the only website that tracks every California foreclosure and provides daily auction updates, issued its monthly California Foreclosure Report for September 2009. This month's report features not only a new look, but an important new statistic - Bank Owned (REO) Inventory. By looking at the number of foreclosures the banks have taken back and subtracting those that have since resold, we are able to show the number of foreclosures the banks have held as inventory over time.

The full report can be found at: https://s3.amazonaws.com/CA_Foreclosure_Report/September+2009+CA+Foreclosure+Report.pdf

I don't usually print out reports, but I felt compelled to on this one.

A good place to find the deals referred to are at http://www.FinestExpert.com

 

Robert T. Boyer, Ph.D.

Robert T. Boyer, Ph.D.
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This post has been included in California Real Estate News
Post is included in group: California Short Sales, REO's, and Foreclosures
Post is included in group: Information & Statistics
Post is included in group: Realtors®
Post is included in group: Southern California Real Estate Forum

4 Comments on No Shadow Inventory of Bank Owned Homes

OCT
15
2009
157,681 Points 2 Featured Posts

Thanks..it is good to get the fact. This is something that I have heard vaguely and wrongly..I read and printed the article

 

thanks
12:18pm • #1
118,503 Points 1 Featured Post Outside Blog

I saved it, too. I had heard of a shadow inventory, too. I have also heard that California is ahead of the rest of the states in going through this housing crisis process.
12:27pm • #2
101,562 Points 2 Featured Posts

Doug, like you, I've heard about the "Shadow Inventory", but was never able to track down the source.  At least this is something definitive that you can specifically point to from a reputable source.
12:38pm • #3
NOV
16
2009
1 Featured Post

Just read your post and the article.  Very revealing.  Looks like we could chug along like this for the foreseeable future.
2:29pm • #4

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The San Diego Real Estate Housing Market tends to lead the nation's real estate activities. This blog looks at current activity and trend data, including sales rates, months of inventory, median home price, unemployment, inflation, etc., with an intent to provide timely predictions for our market. Because such a large part of the current market is make up of San Diego Foreclosures and REOs we will also look deeply at how they affect the current environment. Additionally, specific market segments are monitored, such as La Jolla Real Estate, Del Mar Real Estate, Rancho Santa Fe Real Estate, and Carmel Valley Real Estate


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