http://money.cnn.com/2012/10/25/real_estate/foreclosures-cities/index.ht...
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Hi Tammy,
I agree with this article you posted for now, but I truly think we will hit another low next year because this is a election year and the banks are holding on to inventory until the first of the year. Reports have stated a couple months ago that there are about another 3 million foreclosures that will hit the market between 2013 and 2014. So even though things look good for foreclosure filings the inventory from previous foreclosures has not hit the market yet and they will make a big impact on prices in the near future.
Thanks,
Shah
That so called "shadow inventory" will never be released in a way that will hurt prices. That massive inventory, flood of cheap REOs prediction has been going on for three years now. Ain't gonna happen.The banks will trickle them out and take advantage of selling them in an appreciating market. The only thing that will stop this reduction in available inventory NATIONWIDE is continued high or higher unemployment.
Just my opinion of course!
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
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