For my pals in CA - the Shadow inventory will be released by the GSE on or shortly after Sept 15th.

There is a shadow inventory USA WIDE. An AM i am working with got 80 for Georgia last week in one county.

The Banks ARE manipulating this market.

So are they going to be time-released? Or will they all hit the market at once?

MSVJ ~

What does your crystal ball say for MI?? Would love to hear that forecast!!! Besides economy getting worse, and then worse, and then worse.. etc. LOL

Crystal ball says 'Buy 30 houses for a dollar each, demolish homes, build parking lot, charge a monthly fee. Leave one house standing, declare it your primary residence so your kids can get the free scholarship to collage. Then they live in it while going so no worries about paying for the dorm. And then as a side job you have them take the fees for the parking lot which pays for their books, food and clothing'

God I love this crystal ball.

J~

P.S. Does MI still have free college tutitions if you are resident? I might listen to the crystal ball if this is the case.

LOL The crystal ball IS magic. What a great idea. I havent heard of free tuition tho. My children are still in high school so I might not have heard about it yet. Sorry to hear the BPO wave isnt going to be in Mich tho. Was kinda needing the work for the cold winters we have LOL. It seems the properties here are all going to auction and BPO's just arent needed anymore.

Yeah.. I'm sorry to say I think MI still has a longer recoup time then the rest of the country. They can do what UT does. We have construction year round (even on roads that don't need it) keeps employment rates up.

J~

We have ALOT of construction here... it does not seem to help the economy. lol.

Ah....But if you look at UT from a satalite picture - IT is a giant orange blob.

J~

I got an REO assignment on Friday and another one from a different company today. This is the first time this year I've gotten 2 assignments in two days.

Here in CA I've noticed that the trustee sales are finally ending up as "Back to Beneficiary" after a full year of "Postponed". I think the logjam is breaking up in my neck of the woods. Thank God, I was going to have to lay some people off soon.

We have one AM who is so busy we got an assignment on Saturday. First time that has ever happened for us.

Bratchny ~ The REO world has its own delicate balance and way of healing. Kind of like the earth. Good to hear the natural flow of things is back to normal again there.

I got my first REO assgnment for 2009, today. I havn't received an assignment since 11/21/2008. This was long overdue. I've also gotten 9 BPO's today and have been averaging 30 per week for the last 3 months. It looks like things are picking back up!

I keep hearing about a shadow inventory as well. I also hear about the 9/15 date to release a bunch of them.

The only way I could see a shadow inventory being out there is if the bank postponed the final sale. Just keep the homes in limbo with the owners still in them until they see what our government will toss them to "help out". They could control the REO flow by continuing to postpone taking the homes back until they are ready to list them quickly.

We are up to 5 REO assignments in the past week. One came in within 24 hours of auction. A couple were within 2 weeks of auction and the other 2 have been foreclosed for some time and just sat with lockboxs installed and lawns being mowed until now.

We got one a couple weeks ago that had foreclosed in January and still had the owner in it.

Hope this is the crack in the dam.

I am also seeing fewer postings in the past week or so. Hope that is from everyone being so busy they can not make the time. I come here when my head is fuzzy from REO.