All of the experts seem to agree that the “shadow inventory” is out there. Houses that have gone through the foreclosure process but for whatever reason are being maintained in inventory but have not been placed on the market for resale.
The motivation behind the phenomenon has been described as being anything from sinister to shrewd. Are these institutional sellers simply buried under piles of paperwork, stymied by litigation, or simply trying to stabilize the market in an effort to reap top dollar for their properties?
Whatever the reasons, in Coweta County Georgia there is a significant difference between the number of monthly foreclosures and REO and HUD homes showing up in the marketplace.
I get calls all of the time about houses that have been sitting empty for long periods of time while would-be buyers await the opportunity to make an offer.
The shadow inventory is out there. And it can affect our market dramatically.
And until it is dealt with in a proactive way a lot of uncertainty will remain.
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