Others point to the "shadow inventory" of pre-foreclosures. There are thousands of properties that are already on the sheriff's sale list, which are pushed forward month after month. Most of them are NOT short sales in the process of being sold to end buyers. Most are NOT even listed with a Realtor for sale. I guess if there are no bidders at the auction
, the banks are telling their reps to "let it ride".So, unless the banks are going to "forgive" the delinquencies and reinstate the owners into their mortgage payment plans at an affordable rate (and how likely is that) there will be another wave of foreclosures hitting the open market. They can't hold back the flood forever. But they can try. Why not be open to creative real estate investing, and let the investors get the properties back into the marketplace quickly?
