We recently reported Dane County foreclosures decreased in January - the first time foreclosures have fallen in 34 months. Is this the beginning of a new trend? Barry Ritholz from www.Ritholz.com does not think so. Ritholz and others predict a huge wave of new foreclosures is just around the corner. You can read more here.
Dan Miller, Realtor, Keller Williams Realty and DaneCountyMarket.com
Dan, Seems like lots of folks are thinking the same thing. There's a lot of fear out there about the size of the shadow inventory.
I've heard more than once that the banks are holding foreclosures back so they are not all on the market at the same time and so that market prices don't continue to drop to the point that they are getting the homes back that were just sold because prices have gone down on them too!
Hey Dan,
You know we've been hearing about the "shadow inventory" for almost a year now. I don't know for sure, yet when you look at the numbers of things it makes you (one) wonder.
In CA our default notices are more that 3X the number of actual foreclosures. Now in the "olden days" many of the defaults were cured, yet today...not a chance. I personally know of some who've not made a payment in well over a year, yet they're still living there.
Comments(3)