Jun 11, 2012
Shadow inventory is a term used to describe gobs of distressed properties, mostly single family residential, that isn't yet on the market. Statisticians look at top down data like bank reports and public filings. But what about a street level view?
Atlanta, Georgia has been one of the stat leaders for foreclosures, so we thought it would be interesting to sit down with a guy who spends a lot of his time scouring the Atlanta market looking for distressed houses. More foreclosures is good for buyers, but if you buy now and then get hit with a new wave of foreclosures, you could see your values take yet another dive. Of course, if you're comfortably cash flowing you can afford to wait it out. But still, buying something that drops in value can be disconcerting. It's called "catching a falling knife". Then again, if you wait for a recovery to prove itself, you may miss out on some great bargains.
So we want to know: is a legion of zombie properties lurking in the dark shadows of the market - or are we on our way to a more stable and long term appreciating market? Tune in and see what our special guest Ken Corsini says he sees when he ventures into the market looking for bargains.
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