Analysts said the situation is much worse when the "shadow inventory" of homes is taken into account. These are homes that are in the early stages of the foreclosure process but have not been put on.
That’s a whole lot of jobs that won’t be coming back anytime soon.” Making the apartment market slightly more problematic is what the authors call a “shadow inventory.” It’s made up single-family.
Here’s the good news: the foreclosure pipeline and the shadow inventory of homes may have peaked. Yes, the $25 billion mortgage settlement will bring more properties to market, but as the excess.
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The shadow inventory however is slightly different from the inventory just described above. The shadow inventory can best be defined as the homes that are very likely to be up for sale soon but are not right now. A majority of these homes that make the shadow inventory are homes that have been foreclosed.
Call the agent whose name is on the sign and inquire about other foreclosure listings that may be coming on the market. Agents who specialize in foreclosures sometimes wait weeks while bank management approves the list price, so you can get a jump on other buyers by asking about new foreclosures not yet listed.If you are working with a buyer’s agent, you can ask your agent to obtain this.
The decline occurred in both the visible and shadow inventories. The shadow inventory accounts for 29 percent of the combined shadow and visible inventories. In addition to the current shadow inventory, there are 2 million current negative equity loans that are more than 50 percent or $150,000 "upside down."
Shadow inventory is generally described as the number of homes in bank inventory waiting to be sold plus the homes in that have been foreclosed but for a variety of reasons (redemption periods,