Comments on: 7 Million Homes In “Shadow Inventory”

By: robsaxe

robsaxe — Sat, 03 Oct 2009 17:08:46 +0000

John,
That’s a great point. From week to week, no one seems to really have a clue as to which direction this is going to go. It makes it incredibly difficult to give market advice other than just what’s happening right now in this moment and it could be different and most likely will be different next week! Right now it’s a great time to buy if you’re in the position to do so…next week it may be a bad decision!
Thanks for the insightful comment.

By: John McMillen

John McMillen — Sat, 03 Oct 2009 05:29:30 +0000

Hi, Rob. Great post! I don’t want to agree with you, but I do. As much as we all hope the real estate market is healing, I believe the 2nd wave is going to “tip” us over. Crazy thing is…I wrote a blog advocating just the opposite only a few weeks ago. What a crazy market it is!

http://clovisexperts.com/2009/09/22/why-its-the-best-time-to-buy-a-home-in-the-past-20-years/

By: 1.35 Years of New Foreclosure Inventory Coming on the Market? How Will It Affect Northwest Arkansas? | Exit Real Estate 540

Fri, 02 Oct 2009 19:54:08 +0000

[...] released data explaining that 7 million more foreclosure were sitting in bank inventory. Then, Rob Saxe wrote a bit pessimistic (not that I can blame him) article about the same. Now, Check out my 2 minute [...]

By: Ben Roberts | EXITrealestate540.com

Ben Roberts | EXITrealestate540.com — Fri, 02 Oct 2009 17:16:09 +0000

Hey Rob,

I certainly don’t think you are full of it. I do think that while this will affect the economy negatively, it’s not as bad in some areas as it is in your’s. We have had our fair share of foreclosures in Arkansas and I’m sure that we’ll get our fair share of the ’shadow inventory’ to come. I don’t think it will be as bad as it is in the major population centers though. I think we will simply see a continued depression of prices but no real depreciation of home values locally. I guess all we can say to each other is… good luck. Maybe, as an industry, bloggers and industry leaders can help stave off the worst of it by helping homeowners, buyers, and sellers be prepared and providing solutions.