CNBC’s Diana Olick’s blog, Realty Check, is one of my favorite blogs. In her latest entry, she dives into the subject of bank-0wned inventory that’s not hitting the market. Why aren’t banks unloading their homes while the market is hot? Backlog. Due to the backlog of paperwork, only one-quarter of the bank owned homes are offered for sale. While sales may be good right now, this slow-drip of below-market real estate will keep prices artificially depressed for years to come.
-D.
