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(English) Shedding Some Light on the Issue of Shadow Inventory

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2 comentarios
  1. Norm Werner
    Norm Werner Dice:

    The real “shadow inventory” is beign masked by policies of the lenders that are all over the map. I have clients who are more than a year in arrears and have yet to recieve the first delinquency notice. Why? I believe it is because the banks just don’t want to take any more homes into foreclosure in this area (Southeastern Michigan). So the inventory includes homes already in foreclosure and homes that have been decalred to be delinquent AND homes thatare delinquent, but have not yet been officially declared to be delinquent.

    This whole thing is so far out of hand that trygint o make any kind of logical sense out of it makes no sense.

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  2. John Bonnett
    John Bonnett Dice:

    Ron, thanks for bringing this important subject to our attention. The article was well written, but what about, “The rest of the story?”
    I believe banks have a more pressing reason (than protecting the housing industry) for ‘being very cautious in the way they release inventory’ into the market. Besides hurting the housing market, how would a faster liquidation, at lower prices, affect a bank’s current profitability?
    It’s rational for banks to choose to absorb their losses over time. (I understand the government now allows banks to mark their housing inventory to ‘future market’ instead of current market, postponing balance sheet depreciation, the need for more capital, and the possible collapse of more banks.) Given these motivations, I believe the ‘shadow’ (crisis) will remain with us for a few more years. I wish the article would have explored, ‘the rest of the story.’
    To succeed in this environment, Realtors® must heed Machiavelli’s admonition, “Never waste the opportunities offered by a good crisis.” We must become experts at negotiating short sales, especially the new government HAFA program. I find it very fulfilling to help distressed homeowners avoid foreclosure and start fresh. The new HAFA provision that pays the homeowner a $3,000 moving allowance, at the close of a short sale, is good, too.

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