Strictly anecdotal — and I would be delighted to be wrong about this.
First, the inventory of the homes I track for investors has been rising slowly but steadily since mid-October. Not an obscene increase, but sales are way up as prices have wallowed in more or less the same place since last March or April. A lot of investors are calling “bottom!” with their cold, hard-to-come-by cash — and yet available inventory is going up, not down. And prices? In December, way down.
Then consider this: I have an REO negotiation going on in a condo community where the quantity of the one floorplan my buyers are interested in jumped 50% in two weeks, from 13 to 20 units just like that, all of them priced right or within shooting-down distance.
It seems to be getting easier and easier to get just the right deal for buyers. Even in overbuilt Phoenix, last summer and early fall played like a seller’s market, but by now it feels to me as though the table is swiftly turning.
And all of that leads me to wonder if we’re finally seeing the much-hypothesized, much-denied shadow inventory.
Am I seeing my own shadow, or is there something going on?
It’s funny, I am almost never at a loss for words. I have an opinion on just about any topic and am usually a passionate conversationalist….but put me in the yard with the Big Dogs and I’m feeling a little puppyish (you’ll find that I like to make up words).
Scott Schang is a long-time contributor to our comments threads. Scott has come to both of the BloodhoundBlog Unchained events held in Phoenix, and he may be the best success story to come of Unchained so far. Scott has devoted his attentions to honing his prospecting and conversion systems, and he’ll be talking to us about that and more.
Harry Bisel has led a rich, full life. A commercial photographer who made the shift into real estate, and then shifted aback out into real estate photography. 
