Sentences with phrase «shadow inventories»

«Even the shadow inventories of distressed homes have fallen, though they remain elevated and are an ongoing concern.

«Falling visible and shadow inventories point toward continuing price gains.

This is the kind of creative, out of the book thinking that more banks need to adopt — because it is this kind of team effort that can save many Florida homeowners from foreclosure, save our economy, and maybe save some banks from those bulging REO (real estate owned) shadow inventories.

There has been a large decline in 90 - day - plus past due loans, which has helped lead to the drop in shadow inventories.

Also helping to lower shadow inventories is the rise in home prices, lower unemployment rates, the higher number of loan modifications, and tightening of underwriting standards that has led to an improvement in mortgage credit quality, economists note.

The shadow inventory of homes that will come onto the market is large.

The «shadow inventory» of residences that are in some stage of foreclosure or whose owners are at least 90 days delinquent on their mortgages stands at 3.1 millionâ $ «6 % of the 50 million home loans in the U.S..

Filed Under: Mortgage Rates Tagged with: distressed property, epic failure, foreclosure, Mortgage, Mortgage Rates, reo, shadow inventory, Total Mortgage

Just a quick post on a topic I've discussed in the past: shadow inventory.

As a result, people are attempting to measure what is being referred to as the «shadow» shadow inventory.

A massive amount of shadow inventory (foreclosed and distressed homes yet to hit the market) could further increase housing inventory and diminish home values.

There is an intriguing article today by Jacob Gaffney at Housingwire.com regarding new attempts to measure shadow inventory.

As a result, the natural flow of demand from new household formation must be satisfied from an inventory of homes for sale that is much smaller than the actual «shadow inventory» that would be available if losses did not have to be taken in order to sell those homes.

Well there's all the shadow inventory that the banks are still keeping in their books as well as all those homeowners who are «stuck» in their homes due to negative equity.

When asked about the surplus of inventory, and how it may affect market conditions, Total Mortgage president John Walsh recently surmised, «This is a difficult question to answer, because nobody really knows the extent of the potential shadow inventory out there or how many houses are in danger of foreclosure.

However, this big wave of shadow inventory seems to never come.

«In the first quarter survey many real estate professionals expressed concern over five factors that could potentially impact home prices adversely: rising interest rates, expiration of the home buyer tax credit, persistent unemployment, continued foreclosures and the release of shadow inventory held by the banks,» said HomeGain General Manager Louis Cammarosano.

Nonetheless, large shadow inventory still remains a challenge, especially in the office sector.

Both IGs cited concern about the volume of «shadow inventory» properties in all inventories, but especially FHA's, and the importance of insuring adequate securing, maintaining, pricing, marketing and selling of the properties to minimize further taxpayer losses.

The HUD IG cited the FHA Note Sales and Distressed Assets Stabilization Program as efforts to reduce the «overhang» of the FHA shadow inventory.

Amid widespread falling values, a large shadow inventory, and general economic uncertainty, perhaps the biggest positive development in the real estate industry in the past year has been the booming rental market.

If we let all the owners who could market their homes in a short sale go to foreclosure, the amount of shadow inventory it would create would be so large that most of the fair - market sales would decline and the market would stall again.

«We continue to see a sharp drop in foreclosures around the country and, with it, a decrease in the size of the shadow inventory,» says Anand Nallathambi, president and CEO of CoreLogic.

«Over the last year, it has decreased in 42 states by double - digit figures, resulting in rapid declines in shadow inventory for the first quarter of 2013,» Fleming says.

For the second quarter of 2013, shadow inventory has fallen to 2.99 million.

The stock of seriously delinquent homes, which is the main driver of shadow inventory, is at the lowest level since December 2008, adds Mark Fleming, chief economist for CoreLogic.

Meanwhile, from February 2010 to July 2011, the shadow inventory dropped from 1.9 million to 1.6 million, according to calculations by NAR researcher Selma Hepp.

At the same time, the shadow inventory of distressed homes is no longer the threat that it was.

«In 2012, the theme is going to be managing the shadow inventory,» Firoved says.

On the bright side, both MLS inventories and shadow inventory showed signs of easing in 2011.

Since hitting a level of nearly 4.3 million units in the fourth quarter of 2009, the shadow inventory — seriously delinquent mortgages and homes in foreclosure — has been declining.

The goal is to help reduce the shadow inventory of REO properties that has hung over the market since the downturn, contributing to persistent home price sluggishness, while helping property owners and investors meet an increasing demand for rental properties.

For residential practitioners, NAR's forecast for 2013 looks like a return to normalcy, with healthy price appreciation, an increase in both existing - and new - home sales, and a drying up of the shadow inventory.

Thousands of condominium units were either built or newly converted in recent years, which represents a shadow inventory of multifamily housing.

A large overhang of shadow inventory still looms in New Jersey, New York, and Connecticut.

At the state of the real estate industry session, leading brokers reflected on the shadow inventory of millions of houses that are one month or more in arrears with their mortgages and not yet into the foreclosure inventory — yikes.

Foreclosures and 90 + day past due loans have followed the shadow inventory trend very closely.

In another positive sign for the housing market, the nation's so - called shadow inventory of properties in the foreclosure pipeline fell by more than 10 percent in July from the same period a year before reported CoreLogic.

Year - over-year, shadow inventory fell 23 %, marking its largest drop ever.

This is why I was telling everyone that was so scared of the media's boogeyman of the last half decade, «shadow inventory,» that they have nothing to worry about.

In March 2000, shadow inventory loans totaled an estimated 800,000, significantly lower than current levels.

«Broadly speaking, the shadow inventory continued to shrink in July,» said Anand Nallathambi, president and CEO of CoreLogic.

At one point, the shadow inventory was believed to be a huge drag on housing, preventing a recovery.

Louis and Ryan discuss the impact of the earthquake and tsunami on the world economy; inflation, interest rates, the Fed and Bank of Japan action and the U.S. budget negotiations; the profile of home purchasers today; the paradox of government intervention to make «homes affordable for everyone»; the direction of the rental market, rent vs. buy ratios; the comparison of Fed action during the Volker years vs the Bernanke era; Charlie Sheen, oil prices; the direction of the dollar and other currencies race to the bottom; the status of the dollar as the world's reserve currency; the abandonment of the gold standard; the fate of fiat currencies; Utah's gold standard push; the actions states are taking to cut spending; the price of gold and silver and their role as stores of value; real estate vs. gold and silver as investments; the impact of shadow inventory on general inventory; the impact of the numbers of government workers and their salaries on the D.C. area housing market.

Last year, a Bee analysis placed the region's shadow inventory at 53,256 homes in Sacramento, Yolo, Placer and El Dorado counties.

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.

With its largest quarter - over-quarter drop since the credit crisis began, shadow inventory fell from 3.28 million loans in the first quarter of 2013 to 2.99 million in the second quarter, a 35 % drop on an annualized basis, according to broker / dealer Compass Point Research & Trading.

Most people acknowledge the secret «shadow inventory» that's still being held back by the banks.

As to how much distressed inventory is still out there, the last estimate I saw on the shadow inventory was 2.3 million units and, while that is down, the number is still very scary.

The United States Department of Housing and Urban Development (HUD) has and is addressing the housing market's «shadow inventory» and to target relief to communities experiencing high foreclosure activity.