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Replies (8)
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
Because they don't want to drive resale value down further.
- Terri Linnell, "DebtsNMesses"
- Contributions:6728
If the banks would release all the inventory to the mls, prices would freefall quite a bit.
I would recommend you to look at the inventory that hasn't been released yet. They ARE being sold w/o ever going on the market to regular people.
I would recommend you to look at the inventory that hasn't been released yet. They ARE being sold w/o ever going on the market to regular people.
- Bob Phillips, "BobPhillipsRE"
- Contributions:772
Both the other answers are completely speculative baloney. Banks could triple the number of properties they release - in Orange County, California, at least - and we would still have multiple offers per listing.
They would just come down to 2 to 4, instead of 10-20.
The alleged shadow inventory of foreclosures for Orange County is more of a trickle, than the tsunami we've been led to expect.
Wait until the Holiday season when most of the buyers are busy with the seasonal festivities - then your chances will be better. Good luck.
They would just come down to 2 to 4, instead of 10-20.
The alleged shadow inventory of foreclosures for Orange County is more of a trickle, than the tsunami we've been led to expect.
Wait until the Holiday season when most of the buyers are busy with the seasonal festivities - then your chances will be better. Good luck.
same is true in Phoenix. At under 150K, the banks could release an extra 6000 homes today and sell them all before the december 1 deadline on first time homebuyers. Meanwhile foreclosures get delayed and delayed month after month, with owners that will never pay another cent.
The banks aren't making money by some conspiracy here, they are shooting themselves in the foot, reloading and shooting again.
The banks aren't making money by some conspiracy here, they are shooting themselves in the foot, reloading and shooting again.
- HomeSand.net, "White Picture"
- Contributions:4394
someone used to see the shadow inventory of foreclosures, and they don't see the clearly of home prices of OC moving up in last 6 months.
- Pasadenan
- Contributions:21458
After all the havoc the lending institutions did on the Economy, it is nice to see them shooting themselves in the foot over and over again, but I still think it would be better if the government just let them fail rather then continuing to have mega financial institutions that are still making bad decissions continue to take over these other failing institutions. Yes, I know that if they outright failed, the government has to step in with the insurance funds for the insured deposits; but the way things are going just reinforces the already bad corporate policies.
- Valorie Stover, "QUALITY REALTOR"
- Contributions:170
If banks had inventory, the smart thing would be to put them on the market for all the buyers that are out there wanting a home, just like you.
But banks aren't smart!
But banks aren't smart!
- HomeSand.net, "White Picture"
- Contributions:4394
"But banks aren't smart!" ???
Beside of we beg them for loan to us the money, they do multi billions dollars transaction a day, their CEOs make millions dollars each a year and they aren't smart!
Beside of we beg them for loan to us the money, they do multi billions dollars transaction a day, their CEOs make millions dollars each a year and they aren't smart!
How come the banks have sooooo much inventory of foreclosures but only release less than 10 per week
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