When is the next wave of Foreclosures coming?

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Real Estate Agent

We keep hearing about his Tzunami Wave of foreclosure properties, the Shadow Inventory, etc. I have heard from several bank executives and experts in the foreclosure industry that there is enough inventory to last another 4 to 5 years or more.

I know several REO agents and investors who are expecting all those thousands of listings and investment properties to come. Hey I am not going to lie I want my share too. But lets look at the way things are handle.

First remember the "Foreclosure Moratoriums" of 2008 to 2009, maybe they were included to halt foreclosures while loan modification programs and guidelines where worked out to help some avoid foreclosure, or maybe because the inventory was so high everybody was affraid that the prices will drop too fast to soon.

Then banks started to release forclosures from February 2009 to October 2010 and the "Robosign Freeze" came to turn the foreclosure foucet off. From October to now the REO inventory has decline and many of us REO agents have very little inventory. And now we have to wait for the ones we have under contract several months to resolve title and foreclousure issues.

Well I keep hearing that in August and September the banks will release a lot inventory. I have been approved with  3 new asset manager companies, which where not taking new agents, in July. Is that a sign that there will be more of inventory coming? I hope so, It seems that now most of the robosign properties are starting to get clear from the courts to ratify the foreclosures. 

 

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Location:
Maryland Baltimore City Baltimore
Groups:
Baltimore Area Distress Properties, Foreclosures and Short Sales
Maryland Real Estate and Mortgage Group
REO
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REO Mega Agents
Tags:
reo shadow inventory
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Rainmaker
1,309,361
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

I think a see a few more coming out in my area. Still does not seem like too many are coming out.

Jul 28, 2011 10:22 AM #1
Rainmaker
371,215
Stephen Proski
RE/MAX Scottsdale, AZ Real Estate - Scottsdale, AZ
Scottsdale Homes For Sale

Jose, you maybe correct with your thoughts on more foreclosures, I have been looking thru our tax records and noticed many banks sitting on property and not placing them on the market for sale.....the wave maybe here sooner than we think.

By the way, would you share who those 3 Asset Companies were?  I had similar issues with some of the companies I registered with that indicated they were not taking any new agents.

Jul 28, 2011 10:43 AM #2
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Rainer
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Jose Rivas

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