We’re #1 (Again) | 441,461 “Shadow Inventory” Homes in Financial Limbo Threaten Florida Prices

As soon as we can get all those “Deadbeats” out of those homes that they are living in without paying, we can get in those “productive people” to get this recovery going… Anyone know where we can find about a half a million “productive families” that are looking to buy a foreclosed home in Florida so we can sell these homes?

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Surplus in shadows: Unlisted homes in financial limbo threaten Florida prices

By Kimberly Miller
Palm Beach Post Staff Writer

The forecast could be dim for the Sunshine State as a looming market of distressed and discounted homes threatens a struggling recovery.

According to a new report from the National Association of Realtors, Florida’s “shadow inventory” ranks No. 1 in the nation with 441,461 homes statewide. California is in second place with 227,961 homes.

Shadow homes are ones in limbo — bank repossessions, those with delinquent loans, and ones in foreclosure that are not yet listed for resale.

The size of the shadow is grim news for Florida’s home values, which could take a dive as the properties are listed and start trading hands for cheap.

Palm Beach County’s median home value has proven fragile in the past year, slipping under $200,000 in January before rebounding in February to $205,400.

“That cloud just keeps hanging over us,” said Tim Becker, director of the University of Florida’s Bergstrom Center for Real Estate Studies, referring to the shadow inventory. “The question right now is: When will the homes come on the market and over what period of time?”

You can check out the rest here…

This does not even account for what is already on the market…

So let’s push those foreclosure through…

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4closureFraud.org

Comments
7 Responses to “We’re #1 (Again) | 441,461 “Shadow Inventory” Homes in Financial Limbo Threaten Florida Prices”
  1. Fury says:

    in Inside Job, it was interesting to hear a therapist speak of what drives these wall street traders.
    he said that they don’t seem to understand that their actions have ramifications for society as a whole as well as the effect on their own families.

    when i saw the creepy Lehman CEO, Fuld, in the documentary i couldn’t help but remember how i laughed when i heard one of his own people knocked him on his butt when he (Fuld) was on the company treadmill
    during the collapse of Lehman Bros.

    i wish i could have seen the security camera footage.

    http://www.telegraph.co.uk/finance/financialcrisis/3150319/Richard-Fuld-punched-in-face-in-Lehman-Brothers-gym.html

  2. Danelle Hills says:

    I have wondered if the bankers, lenders and all of Wall Street have got drug addictions myself – they just cannot MAKE ENOUGH money! They will not be satisfied till they get it ALL!

  3. Fury says:

    pam bondi must have known about this report about the shadow inventory in florida when she settled for
    such a paltry amount.

    what gives?

    why, pam, why?

    the fraudclosure mess in florida is as bad as it gets.

  4. PJ says:

    Have no financial interest in FL, but it seems that legislation needs to be “pushed through” to hold Real Estate brokers accountable for being part & parcel in this issue.

  5. CoCo says:

    THIS IS SUCH AN OFFENSIVE ARTICLE-LET’S PUSH THE FORECLOSURES THROUGH !!!! Let’s be mindful that a lot of these people do not deserve to lose their homes just so the agents can make money. That is what is wrong with this whole mess-GREED. There is going to be a long wait until the SHADOW INVENTORY HITS THE MARKET because FRAUD HAS BEEN COMMITTED UPON THE COURT AND THE AMERICAN PUBLIC-so sorry Bergstrom-you will have to wait to line your greedy, little pockets.

  6. John R. says:

    Hell Yea! Let’s get those foreclosures processed so we can give all those lenders the judgments they deserve… you know, the deficiency judgments they’ll go after once they’ve sold the house at auction? Those same judgments that millions of people just get to include in their bankruptcies so that the Lenders end up with nothing! Again!

    Doesn’t it seem that the Lender’s are like blind people walking down a path of rakes and they’re never satisfied unless they step on every rake? And the end of the path is nothing but a cliff anyway? Kinda reminds me of crack heads. Hmmmm… I wonder.

  7. housemanrob says:

    Like I said previously……home sales and availability……. are going to be like looking for bargains at a sunday “flea market”!

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