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Record Jump in Shadow Inventory Pushes Total Unsold Inventory to 6.3 Million Units

realpropertycheck.com November 22, 2021

Record Jump in Shadow Inventory Pushes Total Unsold Inventory to 6.3 Million Units

In today’s report released by CoreLogic shows shadow inventory of residential property at 2.1 million homes as of August 2010, or eight months worth of supply, a jump of over 10% from last year (a five months’ supply). Shadow inventory (sometimes called “pending supply”) includes homes seriously delinquent (90 days or more), currently in foreclosure, or REOs (real estate owned, or bank owned). “Visible” inventory, currently at last year’s level of 4.2 million units of unsold supply, includes inventory of new and existing homes which were on the market in August.

Corelogic-08-2010-visible_vs_shadow_inventory
Corelogic Shadow Inventory Report for August 2010: Visible vs. Shadow Pending Inventory

The total supply can be thus estimated at 6.3 million units, a level comparable to the worst levels registered at height of the crisis back in 2008. These numbers don’t even include October’s foreclosure hiccups related to the Robo Gate which may have significantly increased visible inventory as a result of buyers’ reluctance to close due to difficulties in obtaining both financing and title insurance.

What If You Bought A Property Foreclosed Upon By Robo-Signers? Read this.

CareLogic Shadow Inventory Report for August 2010
CareLogic Shadow Inventory Report for August 2010: Shadow Pending Inventory Detail

You can download today’s (2010-11-22) full CoreLogic report right here.

Did you know you can read a Kindle book on a PC or an iPhone? You can download Amazon’s free Kindle app for your PC right here to get access to valuable books instantly. Below you can view an excerpt from “Cashing in on Pre-foreclosures and Short Sales: A Real Estate Investor’s Guide to Making a Fortune Even in a Down Market” by Chip Cummings.

Filed Under: Buying, Selling, The Economy Tagged With: bank owned, delinquent loans, foreclosures, pending supply, REO, residential, shadow inventory

LPS Says Foreclosures Are Dominated by GSEs, Private Foreclosures Are Falling

realpropertycheck.com November 3, 2010

LPS Says Foreclosures Are Dominated by GSEs, Private Foreclosures Are Falling

According to a recent study by Lender Processing Services, foreclosure starts continue to be dominated by GSEs (Government Sponsored Enterprises). However, GNMA (or Ginnie Mae, Government National Mortgage Association) activity is almost negligible. GNMA is a government-owned agency which acts as a secondary market conduit for FHA and VA loans.

GSEs dominate foreclosures
GSEs dominate foreclosures

[Read more…]

Filed Under: The Economy Tagged With: FHA, foreclosures, GNMA, GSEs, VA

realpropertycheck.com October 24, 2010

Bank of America Restarts Foreclosures

Bank of America Corp., the largest mortgage servicer who imposed a nationwide moratorium on foreclosures on Oct,. 1, announced it will restart foreclosures in 23 states on Monday.

[Read more…]

Filed Under: Buying, Homeowners' Club, Investing, Other Stuff, The Economy Tagged With: foreclosures, Robo Gate, robo-signing

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bankruptcy building wealth in real estate code violations commercial real estate contingency clause deed deed in lieu of foreclosure delinquent loans double-dip Fannie Mae featured FHA foreclosure foreclosures Frank-Dodd bill Freddie Mac GNMA GSEs HAMP HARP home prices homestead IRS junior lien lease option lien loan modifications lot number mortgage mortgage originator no-docs loans notice of commencement phantom profits REO residential robo-signing Robo Gate second liens second mortgage seller financing taxes title company title insurance unsold inventory Zillow

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bankruptcy building wealth in real estate code violations commercial real estate contingency clause deed deed in lieu of foreclosure delinquent loans double-dip Fannie Mae featured FHA foreclosure foreclosures Frank-Dodd bill Freddie Mac GNMA GSEs HAMP HARP home prices homestead IRS junior lien lease option lien loan modifications lot number mortgage mortgage originator no-docs loans notice of commencement phantom profits REO residential robo-signing Robo Gate second liens second mortgage seller financing taxes title company title insurance unsold inventory Zillow

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