Is the Bank’s “Shadow Inventory” Casting a Cloud on the Real Estate Market?

Hey Peachtree City….has anyone noticed that a number of foreclosed homes seem to be just sitting for months on end with no visible effort going on by the banks to actually resell them?  It really did not hit me until a client expressed interest in a foreclosed home in my own neighborhood. When I approached the sales broker for the neighborhood he informed me that the builder had gone bankrupt and the house was going into foreclosure in a few days.  ”Call me back”, he said.  ”The house will probably a better buy once it comes out of receivership and is back on the market.”