Shadow Inventory Increases Likely
The volume of bank-owned properties and potential foreclosures not listed for sale is up 10 percent to 2.1 million compared to August 2009, according to new estimates from research firm CoreLogic.
Together with the 4.2 million inventory of listed homes, which is unchanged from a year ago, CoreLogic estimates the supply of homes at 6.3 million or about 23 months at the current sales pace.
Some experts say these numbers are conservative. Analysts at Barclays Capital believe there are another 3.76 million homes somewhere in the foreclosure process, down from a peak of 4.22 million at the end of February.
Source: The Wall Street Journal, Nick Timiraos (11/22/2010)
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About Us
Mike became an agent in 2004 with Coldwell Banker West Shell. In 2005 we partnered with Gary Rogers to provide high quality resale of foreclosed properties. We work with leading banks to get homes back in the hands of families after foreclosure. On 11/13/09, Mike joined REMAX Elite in Mason Ohio to take his real estate career to the next level. Mike’s back ground is Chemical Engineering and previous SUBWAY franchisee. Mike and his wife Barbara are the caretakers of two Birman cats, Siegfried and Andy.
Our goal is to help buyers purchase foreclosed properties, help homeowners facing foreclosure understand their options and provide high quality resale service to lenders to resell their foreclosed home inventory.
We also have a healthy client base of “regular” buyers and sellers that find our expertise valuable.
Contact us at: www.teamkieffer.com Cell – 513-309-0563 fax 513-297-0537
Our blog is to provide information to our friends and clients on real estate related issues. We attempt to give credit to authors that we reprint here. Team Kieffer, Michael and Barbara Kieffer and REMAX Elite assume no responsibility or liability for the accuracy or suitability of any of the information presented. You should always check with your financial or legal advisor to check suitability. Any postings written by Michael or Barbara Kieffer are our current opinions, subject to change without notice and subject to copyright.
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