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WHAT IS SHADOW INVENTORY?

The chart above represents the balance of distressed loans

for total US markets -  excuse blurriness - had to blow it up to see it at all

bottom up: reo, foreclosures, 90-days delinquent, [unreadable]

MIT's Value of All Us Properties to Jan 2011 - down 50% since 2008

Shadow inventory represents homes that are in the foreclosure system but haven’t hit the market yet. Standard &Poor defines shadow inventory as foreclosure and REO properties in 90-day delinquency or worse and says that shadow inventories are slowing down market recovery.

The National Association of Realtors says that Standard & Poor estimates that there are 47 months of shadow inventory to work it’s way through the system.  1Q/2011 estimate was 52 months, so the number has gone down.

RealtyTrac, who tracks foreclosures, said that delays from mortgage servicers in processing foreclosures likely will cause more than 1 million foreclosures to be postponed until next year. This is a “Catch 22” because releasing many of these homes for sale will further drive down home prices.

BOCA FESTIVAL 2011 RAISES FUNDS FOR CHARITIES

Boca Festival 2011 events begin August 8th with Martinis and Manicures from 6-9 pm benefiting the American Cancer Society at Tipsy Spa Salon, 100 Plaza Real South, Suite J, Boca Raton, FL 33432. Phone: 561-394-7751 x 5308.  

The Festival runs for the whole month of August.  See EVENTS.

Have fun while groups are fund raising this month in various areas in downtown Boca.