Shadow Real Estate Inventory

One of the frequent questions I get from Big Canoe home buyers is if there will be more foreclosures coming on the market in Big Canoe. If you are waiting for an influx of foreclosure homes to come on the market, you may be missing current opportunities as lenders only put homes on the market as others sell. If a bank sells 25 homes in an area in one month, they will put 25 more homes on the market the next month. Homes compiling the shadow inventory are thought to number 4 to 6 million nationally. Banks claim they are not releasing massive numbers of foreclosures at once because they do not want to drive sales prices down even more than they are now. For that reason, buyers should not expect to see a massive influx of these shadow homes onto the market anytime soon – if ever.

So, don’t wait for a fabulous new flood of homes. I can set up a custom FMLS search that will alert you when homes that fit your search criteria come on the market. There are lots of non-foreclosure bargains to be found in Big Canoe.