Relevant:
- Short sales and foreclosures made up 52 percent of all recent Southern California home sales -- Lenders aggressively pricing lower-end properties to move. Two Pasadena examples.
- Short sale dynamics -- short sales recorded the highest number of transactions in three years during the first part of 2012. What data do we have on short sales with second mortgages?
- The mid-tier correction in California housing -- Burbank California shadow inventory three times the size of non-distressed MLS inventory.
- Banks Take Losses on Short Sales as Foreclosures Soar
- Housing inventory disappears in California for the fall
2012-03-28 — doctorhousingbubble.com
The surge of short sales on the MLS is stunning. In Southern California over half of all MLS housing inventory is listed as a short sale. In fact, if we combine short sales and foreclosures over 60 percent of MLS inventory is distressed. 2012 is looking to be the year of the short sale and the quality of short sales and pricing shows that banks are starting to move shadow inventory quicker. We also provide an analysis of housing costs that many first time buyers ignore:
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