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Replies (9)
- sunnyview
- Contributions:25139
I'm not sure about that. I think that the banks will start releasing more inventory starting in February/March. They want to get them off their books and I think they were just sitting on them over the holidays. It's already January 20, so I would expect increasing inventory is on the way already.
- Wes Black
- Contributions:509
I agree with the previous answer. I believe the next wave of foreclosures will hit in next 6 weeks or so.
- Robert Adams, "LVrealestateHELP"
- Contributions:318
Are you talking about properties previously foreclosed upon prior to Dec 2011?
Those foreclosure numbers were already decreasing even prior to the freeze. The next "wave" will be significantly less due to the freeze. With these facts I don't see how you can disagree.
Those foreclosure numbers were already decreasing even prior to the freeze. The next "wave" will be significantly less due to the freeze. With these facts I don't see how you can disagree.
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
The banks are without a doubt holding a lot right now. I think this spring will be the time they release a whole lot of properties. The inventory in my area is down about 15% since last year.
- Janeece Smith, "klickitatcountyland"
- Contributions:27
hmmmm in my area Foreclosures are not in abundance and hard to find.... so we have little on the self for these which i hope the foreclosure freeze doesnt take more off my market...
- Robert Adams, "LVrealestateHELP"
- Contributions:318
The freeze is not nationwide. Just wanted to be clear. I was referring to my local market.
- Caveat Emptor
- Contributions:500
It doesn't really matter. Foreclosure moratoriums have a couple of causes and most of them have something to do with manipulating the rate at which foreclosures enter the market.
ask yourself, what reason would wells fargo have to delay foreclosure on people who aren't paying their bills? Because they had too much inventory onhand already.
ask yourself, what reason would wells fargo have to delay foreclosure on people who aren't paying their bills? Because they had too much inventory onhand already.
- Robert Adams, "LVrealestateHELP"
- Contributions:318
"It doesn't really matter. Foreclosure moratoriums have a couple of causes and most of them have something to do with manipulating the rate at which foreclosures enter the market.
ask yourself, what reason would wells fargo have to delay foreclosure on people who aren't paying their bills? Because they had too much inventory onhand already."
The freeze here in Las Vegas was caused by the robo signing of NOD's and other documents. It had nothing to do with the banks not wanting to release foreclosures.
The "Phantom Inventory" that some people talk about may be large in some markets but it is not in Las Vegas.
ask yourself, what reason would wells fargo have to delay foreclosure on people who aren't paying their bills? Because they had too much inventory onhand already."
The freeze here in Las Vegas was caused by the robo signing of NOD's and other documents. It had nothing to do with the banks not wanting to release foreclosures.
The "Phantom Inventory" that some people talk about may be large in some markets but it is not in Las Vegas.
- Robert Adams, "LVrealestateHELP"
- Contributions:318
INVENTORY HAS CONTINUED TO DECREASE SINCE THESE POSTS....
Available listings are down to 4,617 in the Greater Las Vegas and Henderson area.
Available listings are down to 4,617 in the Greater Las Vegas and Henderson area.
Predicting further decrease in SFR Inventory
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- 4.6/5.0
- (4 reviews)
Contributions:318With foreclosures unable to be filed starting in Dec 2011, inventory should continue to decrease in January 2012. The new available listings should be easily absorbed by the market. I expect pending and contingent sales (sales in escrow) to continue to increase in comparison to the available listings on the market. This has been the trend for over 6 months and the forclosure freeze should only help it continue.
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