Aida Pinto Real Estate Broker/Notary Public

Or is it! Will it become the latest Urban Myth!

My last post on this subject http://activerain.com/blogsview/1159459/where-s-the-reo-listing-didn't really get much comments. Maybe people don't understand what I am talking about, or maybe you just don't care. For those who care and don't know what the heck is "shadow inventory" here is a blog about how it's used: http://www.huffingtonpost.com/jonathan-miller/manhattan-real-estate-mor_b_229361.html. Jonathan Miller is a co-founder and President/CEO of Miller Samuel, in his blog: http://www.huffingtonpost.com/jonathan-miller/manhattan-real-estate-mor_b_229361.html. He gives a good definition of "shadow inventory!"

"A developer [owner] does not usually offer up all available units for sale as a marketing technique to create urgency. This inventory type is comprised of units [properties] ready to be listed for sale but are withheld because of weak market conditions."

If the banks are using "shadow inventory as a marketing technique, does anyone think that this might backfire on them? How long can they keep this "shadow inventory" off the market? Or does this "shadow inventory really exists?

What are your thoughts on this or do you even care?

Here are some other blogs that fellow active rain associates have written about this topic. I guess it might not be real since I only found 10 blogs and one of them was my previous one!

The first one that comes up is:

This one doesn't really dive in to ‘shadow inventory but it's interesting!

This one talks about the California' mess:

This one is good, how true it is-who knows:

Anyway, if you want to read more blogs about this subject-you know what to do! (Hope the links work--I'm a little rusty, been away for awhile.)

What are your thought about this or do you even care or know what I am talking about.

********************************************************************

To search the MLS for free visit my website at: http://www.reolicensedspecialist.com. Send me an email at PintoRealty@yahoo.comand I can email you a free list of Bank owned properties (REO's) or Short-sales, distressed/pre-foreclosure homes currently listed on the MLS.

I just got an email from this Bank, and it looked so official. Please be advise that if you get an email from them, it might be a scam or it might be legit, proceed with caution. The email I got was a total scam-I called them and they told me.

As you know I started a group called: Real Estate Fraud, Scams and Ponzi schemes REPORT THEM HERE http://activerain.com/groups/FraudAlert

And, that was way before I even heard of Bernie Madeoff! Go Figure! Anyway, because my area has been inundate with such schemes, and scams, I wanted to help uncover and get rid of these Scoundrels. I love my profession and I would like to help clean it up!

The more you are informed the less these types of scams will be successful. We should all do our part-let's help each other out.

**********************************************************************************

To search the MLS for free visit my website at: http://www.reolicensedspecialist.com. Send me an email at PintoRealty@yahoo.comand I can email you a free list of Bank owned properties (REO's) or Short-sales, distressed/pre-foreclosure homes currently listed on the MLS.

Disclaimer: This is just for informational purposes, and it is not intended to provide tax or legal advise. I am a real estate professional and broker for over 20 years and this is just my opinion. I am not an attorney nor a tax accountant.

For more information about how the sale or purchase of a home affects your tax situation or for assistance for your particular matter, please consult with a appropriate professional. If you are not currently working with another broker, please call me to see how I can help you with all your real estate needs.

The Good, Bad and the Ugly! I found this pretty good blog, only it's for a Bed and Breakfast transaction but you could pretty much get the gist of what seller financing is: http://www.bbteam.com/Article128.html

Here's a summary: The Good

Probably the biggest benefit of seller financing is that it can be simple [the operative word here is: "can be" not that it is]. The buyer makes a down payment and the seller provides the first mortgage to the buyer. Seller financing can be flexible [well at least more than your typical bank]. The repayment terms can be negotiated between the buyer and seller in order to make the transaction work. Seller financing also broadens the pool of potential buyers. Seller financing may enable a sale to be completed where the buyer is able to get a traditional mortgage but there is a gap between the sale price, what the buyer has for a down payment and what the lender will lend. [There's more to this, so I suggest you read the entire blog: http://www.bbteam.com/Article128.html ]

The Bad

The primary disadvantage of seller financing, especially if the seller provides the whole mortgage, is that the seller only gets a minimum amount of cash at closing - the buyer's down payment. The majority of the sellers' money is still tied up in the property, even though they are now receiving mortgage payments from the buyer. By financing the mortgage, the seller no longer has to worry about the 24/7 life of the rental property, yet they are not completely free of the property until the buyer pays off the mortgage. In addition to getting less cash at closing, the seller still retains some of the risks of owning the property. [Again go to: http://www.bbteam.com/Article128.html for more information.]

The Ugly

How can seller financing be ugly? Well for this you'll just have to read the entire blog: http://www.bbteam.com/Article128.html

Seller financing can be a win-win situation for everyone involved, especially in a hard to finance property or in areas where financing has dried up. But please proceed with caution-there are risk and you should understand them and ensure that your transaction is structured correctly. Any transaction handled by someone who is less than knowledgeable in this matter can have disastrous results, but structured correctly, it can be, sometimes, your only solution.

***********************************************************

To search the MLS for free visit my website at: http://www.reolicensedspecialist.com. Send me an email at PintoRealty@yahoo.com and I can email you a free list of Bank owned properties (REO's) or Short-sales, distressed/pre-foreclosure homes currently listed on the MLS.

Disclaimer: This is just for informational purposes, and it is not intended to provide tax or legal advise. I am a real estate professional and broker for over 20 years and this is just my opinion. I am not an attorney nor a tax accountant. For more information about how the sale or purchase of a home affects your tax situation or for assistance for your particular matter, please consult with a appropriate professional. If you are not currently working with another broker, please call me to see how I can help you with all your real estate needs.

(I'm asking almost like that little-ol'-lady in that hamburger commercial "where's the beef!"

How real is the shadow inventory? I was reading a blog about this, and the writer said: "banks all across the nation are keeping foreclosed properties off the market. They're doing it on purpose, to fudge the statistics and make it seem like everything's alright."

The San Francisco Chronicle:

Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale, according to numerous data sources. And foreclosures, which banks unload at fire-sale prices, are a major factor driving home values down. "We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market," said Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures. "California probably represents 80,000 of those homes. It could be disastrous if the banks suddenly flooded the market with those distressed properties. You'd have further depreciation and carnage."

How accurate are all these reports? Do you agree with these reports? What say you?

Now, I've been noticing that the "foreclosures" statistics don't reflect the MLS stats. I've often wonder where are all those foreclosures: "Where's the REO Listing," because they're not listed on my MLS.

Are banks really holding on to these REO's because the don't want to flood the market?

Are they selling in "bulk sales?"

Is there really a big shadow inventory out there somewhere? I think there is! What are your thoughts? I would love to hear from other agents who are frustrated with this "shadow inventory" conspiracy theories.

=========================================================================

To search the MLS for free visit my website at: http://www.reolicensedspecialist.com. Send me an email and I can email you a free list of Bank owned properties (REO's) or Short-sales, distressed/pre-foreclosure homes currently listed on the MLS. Feel free to call me at (56) 916-3237 to discuss how I can help you find your next home.

¿Su casa no vale lo que le debe al banco? ¿Tiene preguntas sobre que hacer? ¿Es mejor hacer una venta corta (Short Sale) que embargo (foreclosure)? Depended de su situación. ¿Que es la diferencia entre un Venta Corta (Short Sale) y Foreclosure? ¿Como me afecta mi crédito? Hay una gran diference entre estas doce metotas, es importante que usted sepa come le va afectar su decisión. ¿Puedo hacer una modificaron de prestamos? ¡Quizás sí se pueda! ¿Puedo salvar me casa con una bancarrota? quizás! llame al Estas son preguntas que usted debe saber la respuesta antes de hace una decisión que le puede afectar negativamente. Educose sobre sus opciones. Llame a la Broker de bienes Raíces Aida Pinto. Ella tiene 22 años de experiencia ayudando a la communitada Hispania con todos los asuntes sobré Bienes Raíces. Si usted vive o tiene una propiedad en las ciudades de: Alhambra – Arcadia – Artesia – Azusa - Baldwin Park – Bell - Bell Gardens – Bellflower - Carson – Cerritos – Commerce – Compton – Covina – Cudahy - Culver City - Diamond Bar - Downey – Duarte - El Monte - El Segundo – Gardena – Glendale – Glendora - Hawaiian Gardens – Hawthorne - Huntington Park – Industry – Inglewood - La Mirada - La Puente - Lakewood – Lancaster – Lawndale - Long Beach - Los Angeles - Lynwood – Maywood - Monrovia – Montebello - Monterey Park – Norwalk – Palmdale – Paramount – Pasadena - Pico Rivera – Pomona – Rosemead - San Dimas - San Fernando - San Gabriel - Santa FE Springs - Sierra Madre - Signal Hill - South El Monte - South Gate - South Pasadena - Temple City – Torrance – Vernon - West Covina - West Hollywood - Whittier Llame a Aida Pinto—Real Estate Broker y Notary Public (562) 916-3237