{"id":263,"date":"2012-07-27T03:21:34","date_gmt":"2012-07-26T22:21:34","guid":{"rendered":"http:\/\/www.allphoenixareahomes.com\/?p=263"},"modified":"2013-10-26T04:06:33","modified_gmt":"2013-10-25T23:06:33","slug":"twin-rumors","status":"publish","type":"post","link":"https:\/\/nohasslelistingblog.com\/?p=263","title":{"rendered":"Twin Rumors"},"content":{"rendered":"<p>The two biggest and most tenacious rumors in the valley\u00e2\u20ac\u2122s real estate market appear to be:\u00c2\u00a0 foreclosures are rising and there is a \u00e2\u20ac\u0153shadow inventory\u00e2\u20ac\u009d of foreclosed homes the banks are waiting to release.\u00c2\u00a0 These are false \u00e2\u20ac\u201c despite all the news reports that tend to support such nonsense.<a href=\"https:\/\/nohasslelistingblog.com\/wp-content\/uploads\/2012\/07\/twin-rumors.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-264\" title=\"twin rumors\" src=\"https:\/\/nohasslelistingblog.com\/wp-content\/uploads\/2012\/07\/twin-rumors.png\" alt=\"\" width=\"150\" height=\"146\" \/><\/a><\/p>\n<p>Foreclosures are down significantly in the valley and while we still get the occasional tiny blip up now and again, the trend has been consistently and dramatically down since the start of the year.\u00c2\u00a0 Comparing the number of foreclosed homes for sale in January of 2012 to January of 2009 \u00e2\u20ac\u201c the supply is down 92%. Yes there will always be foreclosures, as sadly the number never goes to zero.\u00c2\u00a0 However, the numbers are consistently dropping and dramatically with nothing indicating that trend will not continue.<\/p>\n<p>That leads us to the second rumor \u00e2\u20ac\u201c shadow inventory.\u00c2\u00a0 Shadow inventory is defined numerous ways, but the most common definition is homes that the banks have taken back and are holding off the marketplace. The banks in Arizona do not have some \u00e2\u20ac\u0153secret stash\u00e2\u20ac\u009d of houses they are holding back.\u00c2\u00a0 Why can we state this as fact? The beautiful thing about real estate is that changes of ownership cannot occur in secret &#8211; they require a public recordation to transfer ownership. So this persistent rumor is more attributable to errors in counting and tracking foreclosures than anything factual.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two biggest and most tenacious rumors in the valley\u00e2\u20ac\u2122s real estate market appear to be:\u00c2\u00a0 foreclosures are rising and there is a \u00e2\u20ac\u0153shadow inventory\u00e2\u20ac\u009d of foreclosed homes the banks are waiting to release.\u00c2\u00a0 These are false \u00e2\u20ac\u201c despite all the news reports that tend to support such nonsense. Foreclosures are down significantly in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-263","post","type-post","status-publish","format-standard","hentry","category-home-values"],"_links":{"self":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=263"}],"version-history":[{"count":4,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/263\/revisions"}],"predecessor-version":[{"id":267,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/263\/revisions\/267"}],"wp:attachment":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}