Strictly anecdotal — and I would be delighted to be wrong about this.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
And all of that leads me to wonder if we’re finally seeing the much-hypothesized, much-denied shadow inventory.<\/p>\n
Am I seeing my own shadow, or is there something going on?<\/p>\n","protected":false},"excerpt":{"rendered":"
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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6,5],"tags":[],"class_list":{"0":"post-10986","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-investment","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":9047,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9047\/hoarding-listings\/","url_meta":{"origin":10986,"position":0},"title":"Hoarding Listings?","author":"Glenn Kelman","date":"June 29, 2009","format":false,"excerpt":"Has anyone noticed listing agents hoarding REO inventory for their own clients? In California, where we now have only 4.2 months of inventory, we have begun to see bank-owned listings marked as contingent within only a minute of being listed, only to return to the market a month later and\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11158,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11158\/a-scary-thought-on-the-non-existent-shadow-inventory\/","url_meta":{"origin":10986,"position":1},"title":"A Scary Thought on the (Non-Existent?) Shadow Inventory","author":"Sean Purcell","date":"February 4, 2010","format":false,"excerpt":"The shadow inventory has been a topic of interest with almost every agent I talk to lately.\u00a0 Most believe it is large and few understand why it isn't in the marketplace rather than held by the banks.\u00a0 Russell Shaw recently wrote about the shadow inventory being gibberish.\u00a0\u00a0 It is an\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2010\/02\/Distressed-Mortgage-CHARTS.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3917,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3917\/mortgage-market-week-in-review-6\/","url_meta":{"origin":10986,"position":2},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"August 15, 2008","format":false,"excerpt":"Well, it\u2019s Friday again, and as one of the few remaining Fridays of the summer, I hope you can get out and enjoy the weekend (and hopefully the weather where you are will allow you to!) So what\u2019s been happening in the mortgage market this week? This week it\u2019s been\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3002,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3002\/is-the-short-sale-dead\/","url_meta":{"origin":10986,"position":3},"title":"Is The Short Sale Dead?","author":"Barry Cunningham","date":"April 21, 2008","format":false,"excerpt":"The last time I checked, the short sale was on the gurney headed for the emergency room. I looked through the windows and saw the priest administering last rites so I am not sure if it's going to survive. I can tell you though, it doesn't look good. What happened?\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"Is the short sale?","src":"https:\/\/i0.wp.com\/www.realestateradiousa.com\/blog\/wp-content\/uploads\/2008\/04\/tombstone.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11194,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11194\/cant-find-a-nut-search-in-a-nut-house\/","url_meta":{"origin":10986,"position":4},"title":"Can’t Find A Nut? Search In A Nut House","author":"Brian Brady","date":"February 6, 2010","format":false,"excerpt":"Mortgage squirrels, searching for some nuts, during what I believe could be a long winter, might consider this idea: There should be a lot of listings hitting the market when the shadow inventory eventually gets released.\u00a0 Banks are not very attentive sellers inasmuch as they care less about condition and\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18500,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18500\/overnight-news-if-you-got-beat-by-an-ibuyer-you-deserved-it\/","url_meta":{"origin":10986,"position":5},"title":"Overnight News: If you got beat by an iBuyer, you deserved\u00a0it.","author":"Greg Swann","date":"September 25, 2021","format":false,"excerpt":"Linked below, there is apparently a TikTok video of a real estate agent accusing iBuyers of nefarious market brilliance. He's in Nevada, where Florida goes to blow its reputation for probity, so that alone may explain his conclusions. Mine are the opposite: The iBuyers are terrible marketers. They buy low\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=10986"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10986\/revisions"}],"predecessor-version":[{"id":10987,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10986\/revisions\/10987"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=10986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=10986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=10986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}