In The News

Will the Groundhog See a Shadow Housing Inventory?

10/14/2009 Wall Street Journal - Digital Network

So where’s that long-awaited deluge of bank-owned homes that is supposed to flood the U.S. housing market? This “shadow” inventory has been a hot topic in recent months (as housing analysts struggle to guess how much further house prices may fall.

 

Foreclosure notices are up but foreclosure sales are down

10/13/2009 San Jose Mercury News

Foreclosure figures released Tuesday by ForeclosureRadar, a Discovery Bay company that tracks California foreclosure activity, continue a trend of the past several months: More and more homeowners are failing to make their mortgage payments but banks aren't forcing the sale of their homes while they try to work out loan modifications.

 

HAMP Delaying Foreclosures in California, but Not Cancelling Them Yet

09/16/2009 DSNews.com

The government’s program to modify mortgage loans has clearly led to foreclosures being postponed in California, but they have not yet been cancelled pending trial period results, according to ForeclosureRadar’s monthly report on California foreclosures.

 

August foreclosure filings fall

09/15/2009 Sacrament Business Journal

California foreclosure filings in August dropped both month-over-month and year-over-year, while the inventory of properties scheduled for foreclosure sale continued to grow and foreclosure sales were flat, according to a report by ForeclosureRadar.

 

Sorting through the foreclosure mess

09/04/2009 San Jose Mercury News

Sean O'Toole, who spent 15 years working at software companies...started ForeclosureRadar in 2006, predicting that a high tide of foreclosures was on the way, and "people would need tools to track this stuff."

 

Why the ‘Wave’ of Foreclosure Listings Might Never Happen

08/21/2009 Wall Street Journal - Digital Network

For weeks, even months, real-estate professionals have been asking the same question: when will the so-called shadow inventory of homes in the process of foreclosure finally hit the market?

 

America's housing market: Where it all began

08/20/2009 The Economist

Signs of stabilisation should not obscure the big problems still ahead.

 

Looks Like Rain in California: ForeclosureRadar

08/12/2009 HousingWire.com

The overall forecast for the California housing market remains bleak. The clouds had yet to break in July, but look heavy with a record volume of foreclosure sales waiting to flood the market.

 

California Foreclosures Set for Liftoff?

08/12/2009 Wall Street Journal - Digital Network

Lookout, below. California could get hit by a new wave of foreclosure sales.
Notices of default, which mark the first step in the foreclosure process, fell by 1.5% in July from June but increased by 12% from one year ago, according to ForeclosureRadar, which tracks California foreclosure sales.

 

Foreclosure backlog keeps building

08/11/2009 Los Angeles Times

July stats from ForeclosureRadar show that the backlog of California homes in default, but not yet repossessed, keeps growing.

At some point, many of these properties will be repossessed and put back on the market. Some may be kept by the current owners through loan modifications, but that hasn't happened much so far. Until then, they remain clogging the system as "shadow inventory," most likely to be foreclosed and sold again.