Market Conditions in Burbank>Question Details

Cpa, Mba, Home Seller in Burbank, CA

Does the number of listings include the "shadow inventory", the bank owned homes that are for sale?

Asked by Cpa, Mba, Burbank, CA Thu Jun 17, 2010

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James Sanchez’s answer
No the shadow inventory is not included in these numbers. Even the numbers that you see on the MLS or websites are not accurate because not every agent does their job on updating their listing accordingly. So some of the active listings you see are in pending status or are back up offer status which defeats the purpose of what is truly available. So you ask why do some agents do this? Well simple, as soon as they do switch the listing to Pending, Hold, Back up offers it automatically gets kicked off all your web sites that are out there ( Zillow,, Trulia, etc...) will not have the listing so that means the agent gets no more leads.

So to answer your question the number of listings that are listed do not include the "Shadow Inventory". Are all the homes you see listed available?? No

Any other questions or ideas you may have let me know,

James Sanchez
Broker / Realtor

Pacifix Realty
3500 W. Olive 3rd fllor
Burbank, CA 91505
Lic# 01436395
0 votes Thank Flag Link Thu Jun 17, 2010
Hi Cpa/Mba:

The first answer below answers you question very well. I wrote a blog post back in Sept 09 that is still getting many views that you may find very useful as well (there's also a link regarding Loan Modifications that might get your blood boiling too):…

If you are looking to stay "in the know" regarding the status of Shadow Inventory I would suggest you check out foreclosure radar's ongoing monthly reports. Here is the latest one dated 6/16/10 for the month of May.…

Best, Steve
0 votes Thank Flag Link Thu Jun 17, 2010
No. Burbank inventory has been increasing. In January the number of homes including condo's that were on the market was around 185 at any given time. Now the inventory is hovering around 225. That is total inventory that is on the market.

Currently there are 697 homes including condo's and duplexes that are in some form of trouble. This includes homes scheduled to be auctioned, homes that are in what is called pre-foreclosure or that are in foreclosure. There are a couple of websites that help potential buyers to see what is coming or what is on the market. Try taking a look at and click on the Home Search button. Then click on the Residential tab. Next, scroll down until you see the button that says Search Foreclosures. This is updated every day to allow buyers to look at new foreclosures.

There are other places to look to see what properties are owned by banks. Even on Trulia you can see which ones are listed by Realty Trac. These are ones that have received a Notice of Default. A good real estate professional can help you get these lists if you are interested. Please send me an email.

Tommy Lee
0 votes Thank Flag Link Thu Jun 17, 2010
No... "Shadow Inventory" is inventory that has not hit the market yet; such as preforeclosures, foreclosed properties that banks have not yet listed and or loan modifications that have gone back into some type of default.
Hope that helps.
0 votes Thank Flag Link Thu Jun 17, 2010
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