2.5 million homes in foreclosure, shadow inventory rising: John Burns

2.5 million homes in foreclosure, shadow inventory rising: John Burns

Posts about foreclosure process written by allanlambio. Foreclosures up in August. Foreclosure notices – including default notices, scheduled auctions and bank repossessions – were filed on 193,508 properties during the month, an increase of 1% compared with July, according to RealtyTrac, which markets foreclosed properties.

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He has not completely soured on the housing market and estimates that existing home sales will finish 2018 at a pace of 5.345 million-a decrease from the 5.51 in 2017. In 2019, sales are forecasted to increase to 5.4 million, a 1 percent increase, but still below 2017 levels.

Buyers of newly built homes are being scared off by rising prices and economic uncertainty. in 80 metropolitan areas conducted by housing research and advisory firm John Burns Real Estate.

What’s more worrisome than the actual “shadow inventory” is how banks dispose. to foreclose quickly and relist all of these homes for sale. While there were 3.25 million loans that were in the.

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FHFA: GSEs prevent 129,000 foreclosures in 2Q 2.5 million homes in foreclosure, shadow inventory rising: john burns credability receives $4 million in grants to prevent foreclosures

That dreaded shadow inventory of homes that has captured headlines and gripped the industry and market analysts with angst is beginning to make its way out of the darkness, according to John Burns.

In January 2009, foreclosures accounted 46 percent of the houses sold in Orange County. Last month, they accounted for 11 percent, DataQuick reported. “One of the key points of the O.C. market. is.

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Zelman & Associates put its estimate of shadow inventory that exceeds the typical level at around 2.9 million properties. Shadow inventory, however, is falling more slowly than expected, according to estimates from Zelman, because banks have been taking longer to process foreclosures and less successful at completing loan modifications.

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