"We expect a gradual and progressive contraction in the shadow inventory in 2013 as investors continue to snap up foreclosed and REO properties and the broader recovery in housing market.
These properties, which last year were estimated to range anywhere from 3 million to 10 million in number, were dubbed the “shadow inventory. investment trusts or individual investors looking to.
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in the shadow inventory in 2013 as investors continue to snap up foreclosed and REO properties and the broader recovery in housing market fundamentals takes hold." "Almost half of the properties in the shadow are delinquent and not yet foreclosed," said Mark Fleming, chief economist for CoreLogic.
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This home is part of what’s known as the "shadow REO" inventory: repossessed homes across the country that banks or investors often purposely keep off the market.. Orlando had 2,717 new homes.
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Shadow inventory includes houses that banks now hold but have yet to put up for sale. Double-digit unemployment will push more owners into foreclosure. Real estate investors, renters and homeowners.
The reason the shadow inventory was thought to be bad news for the housing market was that when these homes finally did go up for sale, they would overwhelm the demand for housing, which had slowed in recent years due to the poor economy and sluggish population growth.
CoreLogic estimates the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of properties that are seriously delinquent, in foreclosure. in.
CoreLogic on Tuesday said so-called shadow inventory – homes either in foreclosure or being held from the market. But with roughly a third of home resales being cash purchases and investors making.
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