The bad news? Nationwide, between 5 million to 7 million properties are potentially eligible for foreclosure and they have not yet been repossessed and put up for sale. Where are these properties? Not in the MLS, that is for sure. . . In the Maryland DC and Virginia Region we are seeing a potentially huge wave of foreclosures coming in the next few months.
A huge amount in "shadow inventory" of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate market in our area. 
These numbers don’t add up. .
It has been proven, specially in the huge foreclosure markets in Florida and Las Vegas that lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale.What About Maryland, DC or Virginia?
Signature Realty Associates - Dover, FL
No the numbers do not add up and what is crazy there are people buying bank foreclosures and at the sam closing table pocketing a nice chunk of change and closing with a third party who actually has the money. Banks are not playing fair nor are they doing what they are suppose to.
Jul 26, 2010 11:21 AM
Olympus Executive Realty INC. - Orlando, FL
Home Of The Top Producers
Thank you for the update in your area
Wishing you the best on future sales!
Jul 26, 2010 11:34 AM
Bennett Realty Solutions - Bowie, MD
Ambassador
2,224,860
2,224,860
Fernando Herboso - Associate Broker MD, & VA
301-246-0001 Serving Maryland, DC and Northern VA
Comments(3)