Only the Shadow knows

For months real estate agents and other property gurus have been going on about the "Shadow Inventory" of thousands upon thousands of foreclosed homes going to hit our market any day.

The premise is this "Shadow Inventory" will hit us like another Tsunami and knock the market back down.

Bunk. Yes I say bunk.

First it is taking up to two years for lenders to foreclose on homes. For the ones caught in the "Robosigning" scandal they may even have to start all over again with their files.

This means many of these homes will tied up a long time clearing up legal issues and will likely trickel out as opposed to a flood.

The lenders are also getting smarter they are starting to ask their clients to short sell their homes before foreclosing. Time, money and a backlogged court system are pushing the lenders to quicken the pace of short sales as opposed to the lengthy process of foreclosures.

All the best
Greg Owens P.A.
Realtor
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksproperties.com