The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your Charleston SC Real Estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Where Is the Shadow Inventory?
For the last year, the real estate industry has been talking about shadow inventory and the coming flood of distressed properties. Where are they?
Here’s what’s happening, according to a recent paper by Alan Mallach, a senior fellow the Brookings Institution:
1. Some delinquencies have been resolved through loan modifications or people working out the problems on their own.
2. Banks are getting better at managing short sales.
3. Investors are aggressively buying up properties, sometimes in bulk, directly from the banks or at courthouse auctions so they don’t hit the market.
The likeliest outcome, Mallach predicts, is a steady flow of foreclosures over a long timeframe that will prevent another crash in home prices, but will probably lead to low or no appreciation in home prices.
Source: The Wall Street Journal, Nick Timiaros (09/16/2010)
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Sincerely,
"Carolina Joe" Idleman
http://www.charlestonscrealestateforsale.com
