Shadow Foreclosures
Will Shadow Foreclosure Slow Down Housing Recovery ???
Hello,
I am not sure what "Shadow" means, but if it means the rest of the homes in the neighborhood are affected by the reduced value of a foreclosure, then yes....and no
For many reasons, what we are experiencing is something that must be done, the overpricing of any asset always leaves the last one holding it in peril.
On the othr hand, a large majority of good hard working people were shut out of the boom market, and will now be able to purchase housing that is now within thier reach.
The neighbors may not like it, the comps are going to be crazy, but the fact remains that this is a great time to be picking up property in many areas of the country.
Hi,
Surveys with foreclosure attorneys also show that few, if any, of the firms in several states are doing formal appraisals. Thomas Barrack Jr. of Colony Capital, a private equity firm based in LA, believes that lenders have taken to waiting for new programs every week instead of taking action.
