‘Shadow Inventory’ Might Cripple Real Estate Recovery

by Isaac Benmergui, Esq on November 4, 2011

The reports on the number of homes for sale often do not include those homes lurking in the shadows – the foreclosures and those homes occupied by owners who are no longer paying on their mortgages.

In South Florida, at least 200,000 homes are either in danger of foreclosure or are already there. Presently, there are about 30,000 active listings of homes for sale. In another year or two, that 30,000 figure could increase seven-fold.

Although home prices in South Florida have recently begun to stabilize, expect prices to plummet again when those 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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