In a nutshell, it’s quite simple, and frankly, very good news for those of us in the REO business, selling foreclosures for banks. Watch this video and you’ll see that we are merely in the eye of the REO storm, as it appears that the Shadow Inventory bubble is preparing to burst and provide us with opportunities to sell REO homes like never before.
The inventory of homes listed for sale has fallen dramatically, which in turn has helped stabilize prices. National home prices appear to haveand are headed. Some are in the.
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Since the housing bust, in some U.S. regions, inventory sits for months and goes at rock-bottom prices. while many have decided to stop making mortgage payments. rising shadow foreclosure inventory.
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Where Did All The "Shadow Inventory" Homes Go? Foreclosure is that black sheep of the real estate industry that could mean great deals for the unexpected homeowner, but overall long-term decreasing property values and demand in the market.
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There’s blight at the corner of Happiness Street and Rainbow Avenue in suburban West Palm Beach. Despite the sunny names in a neighborhood where residents also live on Faith and Pot o’ Gold, two homes sit vacant, burned out, boarded up and part of a growing shadow inventory of foreclosed homes in Florida.
California Foreclosure Filings Drop 19%: ForeclosureRadar Foreclosure filings, repo’d homes and bank-owned inventory in California all dropped from April to May, reports ForeclosureRadar.com. Foreclosure filings also declined signicantly year-over-year, with.
Foreclosure and shadow inventory rates have shown impressive strides in the past year: U.S. foreclosure inventory is down a whopping 35% nationally, and the value of shadow inventory has dropped by $70 billion, according to CoreLogic’s National Foreclosure Report for February, also featuring shadow inventory data as of January.
The shadow inventory however is slightly different from the inventory just described above. The shadow inventory can best be defined as the homes that are very likely to be up for sale soon but are not right now. A majority of these homes that make the shadow inventory are homes that have been foreclosed.
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Falling Affordability The plunge in home prices a few years ago, coupled with rock-bottom mortgage. 1.9 million homes in the nation’s "shadow inventory." These are homes that are either in.