REO Inventory Heat Map

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We got a lot of questions about REO inventory and shadow inventory this morning on the conference call announcing the new survey on consumer attitudes toward foreclosure from Trulia and RealtyTrac. This heat map shows where the highest levels of REO inventory are by county across the U.S., based on active REO inventory in the RealtyTrac database. Probably not too surprising given the foreclosure activity heat maps we've been doing, but thought I'd throw it out there for everyone to see.

Posted: Thu, May 20 2010 2:46 PM by darenb

Filed under: shadow inventory, REO Inventory

Comments

Karen said:

This a good way for you to find one foreclosure houses, and one inspection can help you save a huge amount of expenses in future repairs.

# June 1, 2010 6:16 PM

ghost said:

This is only half the picture. To do good analysis, you have to look at foreclosures per population. Merely looking at foreclosures doesn't tell the whole picture. In DC the are lots of foreclosures, but the overall housing inventory is so low that flippers are bidding up the foreclosure street price above the Fair Market Value or Appraisal Value. Translation: The excitement over buying foreclosure is driving the price above what the property can be flipped for, so some flippers are about to create another "mini-bubble".

# June 16, 2010 11:40 AM

darenb said:

That's a good point, and I agree that this only tells half the picture. We can probably create a map based on per capita REO inventory so I'll try to do that soon. We're actually working on a foreclosure sales report that tracks the difference between average prices of foreclosure properties and non-foreclosure properties, and it is showing in some foreclosure-saturated markets that foreclosures are not selling for much below non-foreclosures -- and in some cases are selling above non-foreclosures.

# June 16, 2010 12:15 PM

Inventory Management Software said:

I really appreciate your post and you explain each and every point very well. Thanks for sharing information.

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