“Shadow Inventory” of Foreclosures Could Affect Miami Real Estate Rebound

by Isaac Benmergui, Esq on March 14, 2013

house and down arrowThe reports on the number of homes for sale often do not include those homes lurking in the shadows – the foreclosures that are now making their way through the Miami courts at a record pace every day.

Although market analysts know that hedge fund investors are looking to buy up properties in bulk, the “shadow inventory” may still affect the health of the Miami real estate market rebound. In South Florida, hundreds of thousands of homes are either in danger of foreclosure or are already there.

Although home prices in South Florida have recently begun to stabilize and home values have risen, prices could plummet again when the bulk of the shadow homes come back to the market.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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