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Archive for November, 2010

Another Real Reality of Real Estate that confirms a Double Bubble!

Posted by Dwight Mathews on November 3, 2010

clipped from www.dsnews.com

Fitch Says 7M Homes in the Shadows Will Take 40 Months to Clear

New figures released by Fitch Ratings put the industry’s shadow inventory at 7 million homes. The agency defines the shadow supply of properties as loans that aredelinquent, in foreclosure, or real-estate-owned (REO) by the servicer, and Fitch says based on recent liquidation trends, it will take more than 40 months to clear this existing distressed inventory.

According to the ratings agency’s analysis, the latest industry trends indicate that it will take more than three years to sell the properties of loans that are currently seriously delinquent, in foreclosure, or REO. Fitch says for judicial foreclosure states, such as Florida, it is expected to take longer than the national average of 40 months to resolve the distressed loans, while for nonjudicial foreclosure states, like California, the inventory will likely be resolved faster.

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