Millions of homes in 'shadow' REO inventory

October 7, 2009

About a year ago, Obama and several other ‘economy’ gurus suggested that the lenders who were taking back inventory in the form of REO (real estate owned) thru foreclosures, should hold that inventory and not put it back on the market.

The thought was that it would help keep supply lower, during a time that forecosures were at record levels.  Well, most banks did that, but the market has not improved, and these banks are bursting at the seams now with inventory that they have kept off the market.

Now it appears that they cannot, or will not keep this inventory off the market any longer.  What does this mean if you are trying to sell your ‘short sale’ property?  More supply, pushing prices further down, less offers and if you are lucky enough to get an offer, it will be a low offer.

You can read all about this coming inventory, which they call the ‘shadow’ inventory BY CLICKING HERE

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