Shadow Inventory

Had a great class today hosted by Ken Sorgenfrey from HBM. HBM and ROHRS together is a great system to manage and incubate your buyers. It may take 6-12 months for some buyers to get themselves completely ready, and HBM helps to keep you in front of them until they are. Anyway, just a sidenote. While we were talking, he mentioned the following: "The banks stopped releasing the foreclosed properties at the request of the government for 3 months, to reduce the impact on the price levels. That expired in September, and well, the government asked for - and was granted - another 3 months. This will expire the end of the year, but in the meantime, the banks have built up an enormous number of properties in inventory. They will have to release them soon, and we will once again see a huge number of REO's on the market"