Shadow House Inventory - How does it affect us all ?

Homeowners who have defaulted on their mortgages may have received somewhat of a break during the last year, as most lenders had to stall foreclosures due to a sizable backlog of these properties. Now, some of these homeowners may need to be prepared to undergo the foreclosure process, as some 1.6 million properties begin to enter the market.

Real estate observers have known about this "shadow inventory" for some time, which is what has caused many to couch any optimism about a housing recovery with the reminder that foreclosures are likely to pick up this year.

So just what is "Shadown Inventory?" ....Shadow inventory is not easily defined. It has different definitions depending on who is making the definition. Standard and Poor’s defines it as “outstanding properties whose borrowers are 90 days or more delinquent; properties currently or recently in foreclosure; and properties that are owned by the lender but have not yet been resold, or REO.” Simply put, these are homes that are about to be in foreclosure, in foreclosure, or just foreclosed but not yet resold.

"The low foreclosure numbers in the first quarter are not an indication that the massive reservoir of distressed properties built up over the past few years has somehow miraculously evaporated," RealtyTrac CEO Brandon Moore told Real Estate Economy Watch. "There are hairline cracks in the dam, evident in the sizable foreclosure activity increases in judicial foreclosure states over the past several months, along with an increase in foreclosure starts."

In Utah, foreclosures ranked ninth in the nation through the first quarter of 2012, with one in every 198 properties going through that process. Throughout most of the last few years, Utah has been near the top of the list of states with the highest number of foreclosures, despite its strong economy and employment numbers.

Prepare Your House For a "STRESS FREE" Sale - When your Home becomes a

[[posterous-content:pid___1]]Let’s face it: this is your home and you may have lived there many years, perhaps all your life. It is chock-full of memories and the feeling of being uprooted is unsettling. Fortunately there are many ways to cope:

• Preserve the memory of your home by taking pictures or video taping your house, both inside and out. You won’t be watching them however, because you’ll be too busy whipping your house into shape and, once you’ve moved to your new house, you’ll be too busy with life. The process, however, helps you to say goodbye to your beloved home.
• Hold a home farewell party to announce that you’re selling and moving soon. This accomplishes three things:
  1. By breaking the news, you and your family are now committed and must get your ‘butts in gear’.
  2. It’s the right audience to ask for help and support.
  3. Your guests may know somebody who might be looking to buy a house. Why not start marketing your house right now?
• Stay positive. Moving provides you the opportunity to leave old baggage behind and start afresh. Think of what new and exciting possibilities life could bring.

If you’re not mentally ready, you’ll become sick and tired of this whole process very quickly and you’ll quit.

The danger is you’ll end up dumping your house at a fire-sale price out of desperation. Start calling your home a HOUSE. It’s now officially a commodity. You should use the term ‘house’ from now on.

Now you also need to take care of yourself. The home selling  process can be very stressful. I have told my husband we need to move at least every three 3 so I can remember just what you will be going through.

[[posterous-content:pid___0]]The moving, packing, cleaning and stress can take a toll on your body so I would like to recommend Dr. Clinton Youngberg   | HealthSource of South Ogden | 801-430-9024

I have been to him a couple of time and I am already feeling the results. I no longer have the headaches like I did.

So lets prepare both your home and your body for a very Healthy home sale!!

What do you as a resident of Rivedale Utah and/or surrounding area feel about this issue.

What do you as a resident of Rivedale Utah and/or surrounding area feel about this issue. The reason I picked Riverdale is because I am a resident of the Riverdale area.

If you have not heard the local sign companies are looking to move the old billboard in the state to electronic sign. This issue has been on the local news with Salt Lake City in the the for front. http://www.ksl.com/?nid=148&sid=19999178

Here are my feelings and I would love to hear from you. There are 12 billboards along the  I-15 freeway with in the jurisdiction of the Riverdale City Utah limits  that could be effected by this issue. Some of the concerns with these billboards are

 

• The distractions they my cause,
• The amount of light they put off
• The number of  times the advertising will change in any given time.

I have driven around Riverdale and the surrounding areas  looking at the billboards along the way,  my personal feelings are that the signs with the spot lights on them are much brighter then the new electronic billboards and are only changing about every 6 - 8 seconds with a different advertisement  appearing up to 6 different time. If these billboards were going to be a distraction they are already in place with the current locations.   The number of signs will not change but can be limited to what is already in place.

Traveling down the freeway at 65 to 70 MPH 8 seconds is only time for the sign to remain on the same ad or changing just one time not causing any more distractions then the billboards that are currently in place.

When it come down to it,  how many of us really pay attention to the billboards that are currently installed? Some of these area there were billboards that were advertising “rent this space” or  are run down creating an eye sore instead of what there intended purpose really is. With the new electronic billboards it will be more cost effect to keep these billboard up to date fresh looking and we would not have the issues of hanging canvass or faded advertising and be able to say up with the time and new technologies.

Second with the world we live in wouldn't it be nice if there was a amber alert (missing child) it could by the flip of a switch all the elecronic signs could turn immeditly to these alert save pressus time and alerting all of us to be on the look out for a missing child,  a current car or the person who may have that child.

All in all I don't see it as being a problem but would allow Riverdale to keep up with the time. What are your thoughts.