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Shaddow inventory

I was talking to a agent from Las Vegas recently and he brought up the term "Shadow Inventory" when we asked him what it meant he explained that as more and more homes go into default and the banks do actually take them back, many former homeowners and / or renters are left to live in the home, thus even though it is a foreclosure it is not available to sell and does not show up on the MLS / Housing numbers.

There are areas of the valley where this is very evident, Marley Park in Surprise and Queen Creek come immediately to mind.

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Posted by Andrew Monaghan CRS, GRI, EPro Associate Broker on 09/19/2009 03:48 PM

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This post has been included in Arizona Information
Post is included in group: Short Sales and Forclosures ONLY
Post is included in group: REO
Post is included in group: Phoenix Arizona Real Estate
Post is included in group: Phoenix area REO
Post is included in group: Metro Phoenix Active Rainers

1 Comments on Shaddow inventory

SEP

Because of the various moratoriums by the federal government as well as a whole bunch of loan mods and short sales that are never going to make it, there are going to be a lot more foreclosures that will eventually become REOs.

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