‘Shadow inventory’ could still haunt Treasure Valley housing market | Idaho Economy | Idaho Statesman
Idaho had a 7.2-month supply of homes likely to become short sales, foreclosures or repossessions at the beginning of 2011, according to an industry report released Wednesday.
That’s bad news. But 45 other states have more inventory.
CoreLogic, a provider of consumer, financial and property information, defines the shadow inventory as homes that are 90 days delinquent on their mortgage payments, in foreclosure or have already been repossessed — but have not been put on the market by lenders.
Q: Why aren’t those properties up for sale?
A: “Lenders are regulating the number of distressed properties that they list in order to avoid flooding the housing market, which would destroy it,” said Lance Churchill, president of Front Line Realty, a Meridian firm that buys foreclosed properties. [...]
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Joe Estrella: 377-646
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