For months there has been talk about the banks shadow inventory that should hit the market any day. You say, what is shadow inventory? Glad you asked. It is described as bank-owned properties that arent hitting the MLS or in tracking reports. Homes that are vacant and not on the market , “They literally disappeared into the shadows.”
Here is a great article reagrding the subject – http://www.inman.com/news/2010/04/19/skeptics-dont-expect-reo-flood?page=0%2C0
As always let me know your thoughts and if you think one exists?
Have a great week!