As of the end of August, there were 2.1 million properties either in the foreclosure process or headed for foreclosure, according to CoreLogic. It's come to be known as the "shadow inventory," because it will be coming to market soon, but it's not listed yet. To put that in perspective, there are about 4.2 million properties (existing homes and new construction) currently, visibly on the market now. So add 50 percent more, and there's your true inventory. Talk on the street it that it's starting to leak out now ..there has been an upswing in BPO requests and Fannie Mae REO assignments were increasing. So it looks like 1st quarter of 2011 will signal the start of Shadow Inventor Sell off. Are Buyer incentives far behind ?
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Welcome to Renaissance Realty Group Blog hosted by Eric Reid. This Blog will provide you with valuable information, tips, and general insight into Real Estate and all things related to Real Estate.