patrick.net

So which existing member are you with a new account? Or, which real estate sales office are you working in?

I neither have another account nor am I a real estate agent. Care to comment on the article? Pretty damning coming from ForeclosureRadar, wouldn't you say?

To parse out the interesting part...

A year ago, banks were sitting on 8,652 homes in the four counties of the South Bay and East Bay. Last month, that had dropped to about 6,200.

"Everyone keeps looking for this wave, the illusive "shadow inventory," Lenahan of ForeclosureRadar said. "Everyone thinks the banks are sitting on these huge numbers of properties. The bottom line is, it doesn't exist," she said.

"We continue to see bank owned inventories declining. We see delinquencies declining, foreclosures flat. There are no tsunami warning signs going off."