Another indication of the improving real estate market is what’s happening with Palos Verdes foreclosures and “shadow inventory” not only in and around the Palos Verdes area, but nationally.
From the peak of foreclosure activity in 2010, CoreLogic (one of the nation’s largest independent real estate research firms) reported that overall shadow inventory is down 28%. They estimate this number from the current stock of properties that are seriously delinquent, in foreclosure or that are REO (real estate owned by banks) and which are not listed on Multiple Listing Services. For the Palos Verdes foreclosures market, as of the moment, I count only 2 properties for sale that are either offered as “short sales”, are in pre-foreclosure, or are bank owned.
If you would like to have real time reporting on what is available in this rapidly shrinking market, you are welcome to visit my Palos Verdes foreclosures search site or the distressed property site focusing on those Palos Verdes foreclosures scheduled for auction Now this picture may scare you a bit given on 2 properties for sale now, but trust me on this, if you had me create a report for you showing the Palos Verdes foreclosures picture two years ago, you would be seeing about double the amount of properties
Palos Verdes Foreclosures
How do you get information on these Palos Verdes foreclosures? Are there opportunities here to get a good deal? Use the contact pop up screen to schedule an appointment and we can talk about. Why aren’t Palos Verdes foreclosures the “deal” they used to be? What is the main policy change banks have implemented that prevent buyers from getting the “great deals”? How long does it take, really, once a property goes into foreclosure for it to become available for your offer? Are there strategies to short circuit the process so you get a head’s up on these properties? Lastly, let me make this disclosure, this is an incredibly difficult market to take advantage of. Palos Verdes foreclosures “sounds like” a great deal for buyers, but there are serious pitfalls. So use the contact pop up screen on the bottom right of your screen and let’s set an appointment to talk about it. This may or may not be a category of property best for your real estate goals. Let’s find out.
George Fotion, HomeIsPalosVerdes.com Original content for this post is located at: http://www.homeispalosverdes.com/palos-verdes-foreclosures-and-shadow-inventory/
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