Wednesday, February 2, 2011

What Is Shadow Inventory?

Many people visiting my open houses ask about where home values are headed. Most of the people "in the know" are forecasting more declines in values nationally, for the first 3 quarters of this year. The main reason for these forecasts is the presence of shadow inventory. Here is a link that will explain shadow inventory, and why prices are expected to continue softening this year. Even if the prices do soften nationally, your market may be different. It is important that you consult with an active real estate professional that knows your area. They can give you information about local trends. If you or someone you know is interested in the Tucson market, please visit  my website for further information, or give me a call.


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