Those who have been avid readers of my blog know I am concerned about the potential for a new round of foreclosures putting a damper on the recovering South Florida and national housing market.
One must continually research the inputs of these theories in order to validate or formulate a new prediction of the future. In that regard, CoreLogic, a real estate consulting firm, said it believes the threat from "shadow inventory" is receding.
Shadow inventory refers to homes that are in foreclosure or are in the foreclosure process. Should a lot of new foreclosure hit the market, it might counter-balance the supply of homes and put pressure on prices.
Two reasons cited is the increase in short sales (see articles on this subject on this blog) and loan modifications have helped improve the situation. Also, investors have been snapping up existing foreclosed properties, which has helped balance the supply and demand in the marketplace.
Corelogic reported the "shadow inventory" dropped to 2.3 million in October 2012, from 2.6 million a year ago. Should we continue to see a decline in potential foreclosures, I think it bodes well for the housing market in general.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
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