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January 08, 2008
Expired & canceled listings soar in MA as Petitions to Foreclose approach MLS sales
SURVEY: NOW, what do YOU think will happen to housing prices in 2008 & beyond?
Bill Wendel | 11:24 PM in Foreclosures, Market trends, Real Estate Bubble | Permalink
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Would it be possible/simple to make a comparison for Q4 2006?
Posted by: bostonbubble | Jan 9, 2008 10:06:49 AM
Excellent question, I'll see what I can do in the next several days.
I hope to do another pie chart showing three segments of the housing market: (1) active listings, (2) off-market listings, ie. expired & canceled), and (3) hidden distressed market (ie. petitions to foreclose.)
If Treasury Secretary Henry Paulsen is talking about extending help to "Prime" mortgage holders, (see NPR story below) you can bet that others are about the downward pressure the growing foreclosure crisis will have on the inventory of unsold homes, both active and off-market.
Any other readers have research questions?
'Prime' homeowners may get help too
http://tinyurl.com/27o4ux
Posted by: RealEstateCafe | Jan 9, 2008 11:22:16 AM
We are going to see a steady increase in foreclosure petitions, there is no doubt about that. As for the foreclosure and Reo's listed on the MLS an increase in sale.The homes listed at 2006 market prices will continued to expired and fall into the canceled category.The home-owners not in distress just can't afford to sell at current market value.
Posted by: Brett Wilson | Jan 17, 2008 2:31:37 PM
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