Sedona Real Estate and Sedona Homes for Sale - Shadow Foreclosure Inventory

Posted By Barbara Baker @ Feb 25th 2011 2:45am In: Sedona Real Estate

Is there a shadow inventory of bent up foreclosure homes that will be affecting the Sedona Real Estate and Sedona Homes for Sale Marketplace?  Well, I can answer that question in 3 parts.  1) Currently in Sedona - there are 297 active home and only 15% of those homes are foreclosures or short sales, with only 19 homes in the Foreclosure side of that equation. The Sedona Real Estate market has hovered around 23 to 25 foreclosure homes for the last 2 years - so that number is historically low.  Now, here is where we are going to through those stats to the wind....2) I know of several Sedona Homes that have been taken back by the bank that have been sitting vacant or with tenants actually living in the homes for up wards of 18 months.  Yes, that is 1 1/2 years.  So even though the statistics are low - I do believe that we will be seeing more foreclosures hit the Sedona Real Estate and Sedona Homes for Sale Marketplace.  It's just a question of when.  I think that somewhere the banks believe there is a method to their madness and they along with the FEDS blessings are holding homes in their portfolio and slowly putting them on the market - for fear of flooding the market and having the fragile housing market - which is intricately tied to the economy do a slow leap off of a cliff - instead of a head on collision. And yes, you could say I am a cynic... and lastly;  3) I don't have a crystal ball in regards to the Sedona Real Estate or the Sedona Homes for Sale Marketplace. If I did - I would be sipping wine with my tootsies in blue water somewhere warm.  That's my take on it.  For all your buying and selling needs in the Sedona Real Estate or Sedona Homes for Sale marketplace you can call or text 928-301-0669, email me, visit my website, link up on linked in, or become a fan of Sedona Real Estate on Face book.

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