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Shadow Inventory
Where is the shadow inventory?
WASHINGTON - Sept. 20, 2010 - For the last year, the real estate industry has been talking about shadow inventory and the coming flood of distressed properties. Where are they?Here's what's happening, according to a recent paper by Alan Mallach, a senior fellow the Brookings Institution:
· Some delinquencies have been resolved through loan modifications or people working out the problems on their own.
 
· Banks are getting better at managing short sales.
 
· Investors are aggressively buying up properties, sometimes in bulk, directly from the banks or at courthouse auctions so they don't hit the market.
The likeliest outcome, Mallach predicts, is a steady flow of foreclosures over a long timeframe that will prevent another crash in home prices - but it will probably lead to low or no appreciation in home prices for a while.Source: The Wall Street Journal, Nick Timiaros (09/16/2010)
Team Carlos is doing our best to keep the Tallahassee real estate market stable, we closed three short sales last week and hope to be closing at least 4 more this month. Short sales really help the community by keeping sellers in their home until closing, keeping up the yard and maintaining ... more

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