Shadow Inventory: Now is the time to freak out
That is, it is time to freak out about the many deals available and profits to be made thanks to shadow inventory being kept in the closet…
Savvy real estate investors are realizing that shadow real estate inventory is quickly becoming more of a blessing that a concern.
Few are now concerned about it having a significant, negative impact on the market today but there is no denying that it is lurking out there in a big way. Some have said the percentage of inventory in the shadows has dropped by as much as 30% in the last couple of years. However, there is no question that foreclosures have been surging by double digits in some states and Morgan Stanley recent projected there could be 5.7 million shadow properties being held off the market right now.
Holding these properties off-market is good for real estate investors and is pumping up home prices. Sure you’d like to do more deals and have them falling in your lap rather than having to look for them and some might say it is better to get foreclosures over and done with. However, no one wants a flood of distressed homes setting the recovery back right now and do you really want to be focused on fighting over REOs and having to overpay in ridiculous bidding wars.
On bright side shadow inventory means there are plenty of bargain properties out there for investors for the next 3-5 years while spreads grow and savvy real estate investors know that there are ways around the bulk of the competition, ways to get the lead and lock in profits when they buy regardless of what big money heavy weights might want a piece of the real estate pie.
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