Is the shadow inventory threat overstated in California? The Wall Street and several media outlets are continuously reporting that a large shadow inventory of potential foreclosures remains a threat to the housing market. But the paper says:
There’s only one problem: the data doesn’t show it.
For the past three years, a number of housing pundits have issued ominous warnings about the millions of underwater mortgages, modified mortgages, and delinquent mortgages that threatened to drag down the housing market. But efforts to modify and refinance mortgages—together with surprisingly strong demand from investors for distressed properties—have whittled down this shadow supply.
There’s only one problem: the data doesn’t show it.
For the past three years, a number of housing pundits have issued ominous warnings about the millions of underwater mortgages, modified mortgages, and delinquent mortgages that threatened to drag down the housing market. But efforts to modify and refinance mortgages—together with surprisingly strong demand from investors for distressed properties—have whittled down this shadow supply.
44 Realty Corporation is
Southern California’s leader in independent real estate services, delivering an
exceptional experience to our customers
We have a clear vision
of who we are and what we want to do for our clients, ourselves, and the world
we share. While the focus of that vision is helping people buy and sell their
homes, the scope is far greater.
No other real estate
team can offer you this level of personal attention, powerful resources and
proven skills. It would be our pleasure to assist you in your next real estate
transaction.
Richard Kirchnavy
California Real Estate
Broker
CalBRE 01016593
Janine Kirchnavy
California Real Estate
Broker
CalBRE 01048899
44 Realty Corporation
1425 W Foothill Blvd
#237
Upland CA 91786
(909) 945-3662
www.44Realty.com
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