This article will uncover secrets about the shadow inventory that many people don’t want you to know about. After researching this topic in depth, I believe you should understand the concerns.
- There are millions of homeowners who are currently holding off on selling their property because they want to wait for the market prices to go up. These homeowners would otherwise sell, but because of the suppressed market are waiting. When they do sell, it will all be at once, because market indicators and the news will tell them that everything is great, and the time is “right” to sell. This will crush the housing market with inventory and take prices lower, which is just the opposite of what we want. Read more about short sale Hawaii
- Lenders are currently holding an estimated 600,000 thousand homes in inventory that they have foreclosed on. Why? Simple, they’re waiting for the market to “turn around” so they can get more money for their REO properties! Again, when they market turns, this inventory will be added to the millions of homes from the previous list – homeowners that just want to sell.
- There is an estimated 7 million homeowners currently in default in the US. this is massive beyond all measure, and will add to the 2 above. They will be trying to sell before losing their home to foreclosure, or simply adding to the banks’ inventory.
If you’re a real estate agent working short sales, or if you’re doing short sale investing, you are part of the solution. Without these solutions, the market will most likely get worse. Worse then we’ve ever seen it. Now is the time to learn about short sales, if you’re involved at all, you can help. It can also be very lucrative.