No Shadow Inventory of Bank Owned Homes

I just received an update from ForeclosureRadar, which focuses on California Real Estate Foreclosures titled

NO SHADOW INVENTORY OF BANK OWNED HOMES
Foreclosure Investors Still Finding Discounts at Trustee Sale

Discovery Bay, CA, October 13, 2009- ForeclosureRadar (www.foreclosureradar.com), the only website that tracks every California foreclosure and provides daily auction updates, issued its monthly California Foreclosure Report for September 2009. This month's report features not only a new look, but an important new statistic - Bank Owned (REO) Inventory. By looking at the number of foreclosures the banks have taken back and subtracting those that have since resold, we are able to show the number of foreclosures the banks have held as inventory over time.

The full report can be found at: https://s3.amazonaws.com/CA_Foreclosure_Report/September+2009+CA+Foreclosure+Report.pdf

I don't usually print out reports, but I felt compelled to on this one.

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