How coincidentally it may work out that just when the home-owners that have Short-Sold their home or been Foreclosed upon will be able to buy again...AND, is that when the, albeit diminishing, majority of the infamous 'Shadow Inventory' will be released?
I'm pretty sure that interest rates will be higher, home values will be higher, and then the inventory will be more readily available. AND, more home buyers will be on the home search.
A lot of the original Short-Sellers took an extremely long time to get the deal done. A larger hit on their FICO scoring for certain. But, now, with the expeditiousness (well, sort of) of SS, the dings are lessened. The repurchasing can happen quicker. So, all those old timer SS-ers are probably about in the same boat now as the newer ones...and, they've had longer to save for a conventional down payment. Hopefully.
Just some thoughts bouncing around this morning. I do think our market is turning, in my locale, Santa Clarita and San Fernando Valley's, but I also think that there has been a lot of strategic work at the mortgage institutions to re-coup their 'losses'.
So, this is my piggy back post ~ and for you ladies thinking about 'Magic Mike' ~