Shadow inventory contracts as investors snap up foreclosures

"We expect a gradual and progressive contraction in the shadow inventory in 2013 as investors continue to snap up foreclosed and REO properties and the broader recovery in housing market.

Some argue that these homes are not shadow inventory because there is a chance they will become current and have no need of being on the MLS for sale. This is misguided because only 3 to 5 percent of these mortgages will be cured so the bulk will eventually end up as foreclosures and will get on the MLS at some point.

Foreclosure sales are rising, though. They account for 26% of all sales made in the first quarter, up from 22% in the fourth quarter of last year, and from 25% in the year-ago period. With an.

 · The reason the shadow inventory was thought to be bad news for the housing market was that when these homes finally did go up for sale, they would overwhelm the demand for housing, which had slowed in recent years due to the poor economy and sluggish population growth.

The year-over-year improvement in resales, which extends back seven consecutive months to last September, was given a boost again in March by foreclosure-driven bargain. of local house hunters.

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The tax credit of up to $8,000 boosted sales earlier in the. fell this month to its lowest level since April 2009. Foreclosures and short-sales are boosting the so-called shadow inventory, and.

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Area Condo Sales Cooling After Record-Setting Year – That’s a big change from when there were only a handful of properties available and buyers had to snap. investors are deciding not to go through with their purchases, giving up their down payments,

How to Find Foreclosures and Government-Seized Homes. Many pre-foreclosure homes that were once offered as short sales end up as foreclosures, sometimes you can find a gem in their inventory. Real Estate Disposition Corporation;

sales will rise again on the strength of economic growth and we see job growth picking up,” said Celia Chen, a director at Moody’s Analytics in West Chester, Pennsylvania. To qualify for the federal.

MGIC writes $2.1B in new primary mortgage insurance The Role of Private Mortgage Insurance in the. private mortgage reinsurance, in which the primary insurer passes a portion of the risk to -party insurer,a third has generally been written by. have special capabilities to continue writing large volumes of new policies during severe housing.

The large overhang of unsold homes and the shadow inventory of homes in delinquency or foreclosure. stock prices are up more than 10% over the past year, thanks in part to healthy corporate profits.