While the number of foreclosures continue to soar nationwide, banks have held off listing properties for sale, Sharga said. There were around 700,000 such properties nationwide at the end of last year.
Rental prices on apartments are rising briskly, and rental vacancies have dropped like a rock to the. by banks holding foreclosed properties or by homeowners waiting for a better price to sell. If.
“I think we are entering a virtuous cycle,” Yun said. But economists such as David Rosenberg at Gluskin-Sheff disagree, citing a high “shadow” inventory of foreclosures coming onto the market, weak.
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The storm is a mix of delayed pressure as a result of the quantitative easing of the shadow inventory, and a troubling historical trend. The first pressure system comes in the form of rising mortgage.
Tampa foreclosures in shadow inventory may further push down prices in the area this year if they are finally released to the market. A real estate consultant contends that there are more than 14,000 homes in shadow inventory.
Shadow inventory or the "pending supply" is calculated from the number of properties that are seriously delinquent, in foreclosure, or held as owned real estate (REO) by lenders but not currently.
Galaris fears Southwest Florida’s residential market, among others, are headed for another collapse — similar to the one that rocked the economy. but another potential wave of shadow foreclosures.
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Home Shadow inventory contracts as investors snap up foreclosures .. which will help absorb the already real estate-owned properties and foreclosed properties in the shadow inventory in 2013.
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.
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The demand is fuelled by foreign investors, mainly from Brazil and Russia, who are snapping up Hollywood beachfront properties at rock. number of foreclosed Florida homes that have not yet hit the.
Shadow Inventory: More Houses Will Soon Be Available for Sale.. These resets pose an increased risk for the years ahead, and may lead to more foreclosure inventory in all states.
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