Per CoreLogic, a property information and consulting firm out of California, Shadow Inventory rose 10% nationwide in the past year.
Yes, 2.1 million distressed houses are still not on the market through August. Mark Fleming, chief economist for CoreLogic said “The weak demand for housing is significantly increasing the risk of further price declines in the housing market. This is being exacerbated by a significant and growing shadow inventory that is likely to persist for some time due to the highly extended time-to-liquidation that servicers are currently experiencing.”
So how does Boston rank?
Boston has a 19.3 month supply of distressed homes – ranked 14th of the largest markets. Massachusetts has a 14.7 month supply of distressed homes – ranked 17th in the states.
Sellers, you can dwell on the stats or use the end of the year to re-evaluate your selling strategy. Here are a couple of questions to ask yourself as you prepare to sell your home in 2011.
1. Be honest and realistic – are you priced appropriatly? Check with your agent and get updated comps for the last 6 months – the only comps that matter. If you haven’t already, you must take distressed properties into consderation.
3. Does your house pop? I show a lot of properties and it amazes me how unprepared sellers continue to be. There are a million lists online about cleaning, de-cluttering, de-personalizing, painting, crub appeal etc. to prepare your home for sale. Doing those are just the start. Your house needs to WOW buyers! Take another look at those lists again, and ask for feedback.
3. Are you and your agent maximizing your marketing plan? Has your agent asked you to do something that you haven’t followed through on? Have you asked your agent to do something he promised and it hasn’t happened? Now is a great time to reevaluate your online and print marketing plan and get the first quarter action plan in writing.
There is no doubt the housing market is very difficult right now. Leave NO stone unturned to get your house sold.
Keith Munsell 
is it realistic for me as a seller to be able to recapture the price i paid for my dwelling in 2006? this article seems to suggest that may be difficult…