It is not hard to find a property to wholesale, there is plenty of
inventory of distressed properties (see the Blog Post about The 20 Best Ways to Find Motivated Sellers.)
«The fact that the list of improving housing markets nearly doubled this month shows that a significant, positive trend is developing, and is even more relevant when you consider the expanding geographic distribution of the list — which now includes 31 states and the District of Columbia,» notes NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. «This trend could be even stronger if not for the numerous impediments that continue to slow a housing and economic recovery, including overly restrictive lending policies and the growing
inventory of distressed properties in certain markets.»
«However, we are still at a very fragile stage of this process and builders continue to express frustration regarding
the inventory of distressed properties, inaccurate appraisal values, and the difficulty of accessing credit for both building and buying homes.»
According to Dawna Davies, owner and broker of a local real estate company, investors and homebuyers have continued to buy up the available
inventory of distressed properties.
Many see this prolonged
inventory of distressed properties as enough evidence to counter the early optimism of a housing rebound in 2011.
«Home flipping profits continue to be squeezed by a dwindling
inventory of distressed properties available to purchase at a discount and increasing competition from fair - weather home flippers often willing to operate on thinner margins,» Blomquist said.
There is no doubt that
the inventory of distressed properties has diminished considerably in the recent couple of years.
At the same time, the shadow
inventory of distressed homes is no longer the threat that it was.
Redevelopment and rental professionals like the Chicago - based Mack Companies, which turns foreclosed homes into quality single - family rentals, are seeing significant growth — so much so that the federal government is looking at this sector of the housing industry for answers as to how to address the continuing high
inventory of distressed properties.
At a time when excessive
inventories of distress sales were depressing home values, investors ignited upturns in many markets overwhelmed by low values.
Banks are agreeing to more short sale transactions, and short sales are taking less time to sell, which is helping to clear large
inventories of distressed properties more efficiently, says James J. Saccacio, RealtyTrac CEO, in releasing new housing data this week.
Consequently, market
inventory of distress properties has declined.
«Even the shadow
inventories of distressed homes have fallen, though they remain elevated and are an ongoing concern.
At a time when excessive
inventories of distress sales were depressing home values, investors ignited upturns in many markets overwhelmed by low values.
Not exact matches
While strengthening demand in these markets may help lessen the negative impact that this additional foreclosure
inventory has on home prices, at the very least the influx
of distressed inventory for sale will likely act to slow the rate
of home price appreciation seen in recent months.
They end up with 20 - 30 positions, some in short - term bonds and some in secured floating - rate loans (for example, a floating rate loan at LIBOR + 2.8 % to a
distressed borrower secured by the borrower's substantial
inventory of airplane spare parts), plus some cash.
A massive amount
of shadow
inventory (foreclosed and
distressed homes yet to hit the market) could further increase housing
inventory and diminish home values.
We would buy a lot
of their
distressed inventory of utility bonds and financial bonds, add in some bonds
of our own design, and sell a CDO.
I was taking
inventory of everything I might be doing to unknowingly cause such
distress to my little cat.
With more than 32 years
of expertise in hospitality marketing, our Internet, mobile, SEO and reputation solutions can help fill your
distressed inventory.
Not me so much, since at the point where I'm receiving foxed - point value I'm not longer interested, you no longer combine the rebate from travel or credit card spend with the leverage
of the mileage program's bulk purchase
of distressed inventory that allows you to take a small number
of points and turn them into the sort
of aspirational travel that would otherwise be out
of reach.
Created Access reporting from the data warehouse which generates accurate size and color breakdown, improved sell thru on product and reduced the level
of distressed and markdown
inventory.
• Increased teacher's time for handling other meaningful tasks by taking up lesson planning activities and solely planning lessons for each class • Acted as lead teacher for a class for an entire month, during the time it took the school to arrange for a new one • Performed research work to develop teaching aids and worksheets • Invigilated exams by supervising students and assisting them by providing extra exam sheets and stationery • Assisted teachers in grading exams and creating and maintaining mark sheets and report cards • Observed students to determine signs
of distress and provide feedback to lead teacher • Kept records students in a confidential manner • Ensured that all supplies and equipment
inventory is properly managed
Health - related quality
of life was assessed with the parent - completed Pediatric Quality
of Life
Inventory (PedsQL).24, 25 Parents also completed 36 - item Parenting Stress Index - Short Forms (PSI - SFs) to document change in 3 primary subscales (ie, difficult child, parent — child dysfunctional interaction, parental
distress).26
The study used the Brief Symptom
Inventory, the Family Environment Scale, and the Delinquency Scale in a structured interview format to measure psychological
distress, family structure and relations, and levels
of youth offending, in 219 older children and adolescents aged between 12 - 17 years living in areas associated with high levels
of youth offending in the UK.
529 patients (213 before and 316 after renal transplantation), treated at the University Hospital in Essen, have filled in the EFK measuring coping and other instruments measuring quality
of life (Münchner Lebensqualität - Dimensionen - Liste, MLDL), psychological
distress (Brief Symptom
Inventory, BSI) and social support (Fragebogen zur Sozialen Unterstützung, Kurzform, F - SozU - K22).
Measures utilized include the Beck Depression
Inventory (BDI), the Spielberger State - Trait Anxiety
Inventory (STAI), the Subjective Units
of Disturbance (SUD), the Dissociative Experiences Scale (DES), Impact
of Events Scale (IES), the Modified PTSD (MPTSD) Scale, the Global Severity Index (GSI), Positive Symptom
Distress subscale (PSD), and the Dissociative Interview Schedule (DIS).
and other instruments measuring quality
of life (Münchner Lebensqualität - Dimensionen - Liste, MLDL), psychological
distress (Brief Symptom
Inventory, BSI) and social support (Fragebogen zur Sozialen Unterstützung, Kurzform, F - SozU - K22).
Results revealed good construct validity and alpha coefficients for the assessment instruments such as the Social Phobia and Anxiety
Inventory (SPAI), the Social Anxiety Scale for Adolescents (SAS - A), the Fear
of Negative Evaluation Scale (FNES) and the Social Avoidance
Distress Scale (SADS).
(III) Parental well - being at exposure: mother's long - standing limiting illness (no, yes); father's work hours (none, < 38, 38 - < 43, 43 - < 50, 50 +) per week including overtime; mother's and father's symptoms
of depression (no, yes) using the 9 - item Rutter Malaise
Inventory (4 +) at 9 months [35] and 6 - item Kessler Psychological
Distress Scale (9 +) at 3 and 5 years [36].
Inventory shortages, as well as pressure from the Treasury department are likely to result in Fannie Mae and Freddie Mac beginning to unload hundreds
of thousands
of distressed mortgages in an attempt to wind down their mortgage portfolios (HousingPredictor.com).
The HUD IG cited the FHA Note Sales and
Distressed Assets Stabilization Program as efforts to reduce the «overhang»
of the FHA shadow
inventory.
They transformed an existing neighborhood into a cohousing community, making it more cost effective for residents and rehabilitating a community suffering from a large
inventory of vacant and
distressed homes.
Until the amount
of distressed inventory returns to a normal level, under 5 percent, real estate pros face the unenviable task
of clearing these sales as efficiently as possible.
Additionally, the
inventory of foreclosed properties continues to decline while the housing market demonstrates an ongoing ability to absorb the
distressed sales that result from completed foreclosures.»
A common theme on this blog over the years, «shadow
inventory» and the future
of distressed sales (foreclosures and short sales), is coming up one more time.
«While the worst
of the foreclosure problem is in the rearview mirror for a narrow majority
of counties, others are still working through rising levels
of foreclosure activity,
inventory and
distressed sales as they continue to clear the wreckage left behind by a bursting housing bubble.»
The charts would show data points such as homes for sale, average days on market, months» supply
of inventory, pending sales, and median sales price, filtered by criteria such as property type,
distressed vs. traditional sales, price range, and neighborhood or ZIP code
This, at a time when many housing markets are flooded with
inventory in the form
of distressed properties and bank - owned homes that lenders have foreclosed on.
Distressed homes, short sales, and foreclosures continue to dominant the activity in the Baltimore real estate market, increasing the
inventory levels and impacting values
of surrounding homes.
If the GSEs wish to burn off excess
distressed inventory, they could do so in a matter
of months with a «rent - to - own» program instead
of looking to bundle properties for investors.
«At the moment
distressed properties, also known as short sales, foreclosures, bank - owned property, and notice -
of - default - filed property make up only 14 percent
of the
inventory of available properties in the county.
Bay Area homeowners and homebuyers seem to have adjusted to a real estate market characterized by modest ups and downs from month to month and quarter to quarter in response to economic news and other factors, including the
inventory of homes for sale, the presence
of large numbers
of distressed properties and a shortage
of traditional home sellers.
The drivers
of housing demand are in place for a sustained recovery: high affordability; job growth (albeit modest); strong investor demand; rising buyer confidence; lean home
inventories; home price appreciation; and fewer
distressed homes for sale.
«With
distressed properties still making up a sizeable portion
of homes on the market, this
inventory is being cleared effectively by buyers, who don't mind investing a little to fix up a property in return for an attractive bargain,» Kelly adds.
«Builders are reporting increasing demand for new homes as
inventories of foreclosed and
distressed properties begin to shrink in markets across the country,» says NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. «In view
of the tightening supply and other improving conditions, many potential buyers who were on the fence are now motivated to move forward with a purchase in order to take advantage
of today's favorable prices and interest rates.»
«The finding that only one if five eligible short sale contracts move out
of pending status, coupled with the fact that nearly half
of those that do are failing, is just one key indicator
of the industry impact from the emergence
of distressed inventory.
While sales
of distressed properties — foreclosures and short sales — have shrunk since the first
of the year, a surge in sales
of «normal» non-
distressed properties has pushed total home sales through June 4.5 percent higher than last year even though buyers face tight credit and low
inventories.
«In addition to slow housing turnover and the diminishing supply
of distressed properties, lagging new home construction — especially single family — has kept available
inventory far below balanced levels,» says Lawrence Yun, NAR's chief economist.
•
Of the cities identified by the Federal Reserve Board as the largest REO
inventory markets entering 2012, Phoenix, Los Angeles, and Riverside saw a significant decline in market
distress during the year.