Is There Shadow Inventory In San Mateo?

Getting to foreclosure taking longer than ever

LPS Mortgage Monitor Report for May shows that the number of days for a house to go from late payments to foreclosure is taking longer than ever – 449 days which fuels the “shadow inventory” conversation.

What is shadow inventory?

The whole idea of shadow inventory has been debated for months; does it exist or not?

There were programs created to help home owners survive the real estate market bubble; unfortunately not all the effort has paid off.   There’s the loan modification; some don’t qualify and some payments weren’t lowered enough.  Or like HAMP many people don’t qualify.   While frustrated home owners tried to make these things work for them it’s just delayed the inevitable: foreclosure.

Since it’s taking up to 15 months to get the property through the process there’s now a backlog of houses that need to be sold: shadow inventory.

Is there shadow inventory in San Mateo?

The absorption rate includes all houses for sale.  But how much of that total inventory is bank owned?

Not much.  June of this year is definitely the high at 16 bank owned homes listed for sale in just one month; but it’s not the flood of shadow inventory we’ve been hearing about.  Summer’s not over though.

list month REO regular
2009
jan 6 49
feb 7 56
march 6 77
april 7 67
may 6 66
june 7 76
july 10 76
aug 6 66
sep 7 75
oct 7 59
nov 7 46
dec 4 39
2010
jan 5 51
feb 3 68
march 3 80
april 4 108
may 1 58
june 16 95

Trying to figure out if you should sell now?
call me ~ text me ~ email me
I’m here to help.

Vicki Moore, Realtor
DRE 01234539
RE/MAX Star Properties
Selling San Mateo County Homes Since 1998

Search All San Mateo Homes

We're sorry, but it seems that we're having some problems loading MLS data from our database. Please check back soon.

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

Trackbacks

  1. [...] San Mateo’s shadow inventory report for July, I’m wondering what shadow [...]

Speak Your Mind

*

403 - Forbidden: Access is denied.

403 - Forbidden: Access is denied.

You do not have permission to view this directory or page using the credentials that you supplied.