Shadow Inventory in Real Estate 2022
What is Shadow Inventory?
Did you know that there are properties in the real estate market that are not public to everyone? Shadow Inventory are properties that are typically real estate owned (REO). They are not on the market and are kept in the “shadows” hence, their name. So, if you are a buyer, it can be difficult to get a full scope on the real estate market. Especially if you are not working with a real estate agent and you are solely relying on Zillow, Realtor.com, and Homes.com. You could be missing out on a lot of potential homes and investments!
How Can I Find Them?
Now, it can be difficult to find shadow inventory but, it is not impossible! There are two different way to obtain it:
- Contact a real estate agent
- Talk with the REO departments
Contact a Real Estate Agent
The first method is to contact a real estate agent. By meeting with the correct real estate agent, they will be able to direct you in the right direction or help you find shadow inventory. It’s vital to find a real estate agent that has the right connections. If you decide to hire a real estate agent, they can be very helpful throughout the entire process! You won’t have to go into it blindsided. A knowledgeable, connected, and experienced real estate agent can make your life and the process a lot easier!
Talk with the REO departments
The second method to try to find shadow inventory is to go directly to a small bank or credit union. You can personally talk with the REO departments of each organization and try to obtain information about their inventory. If you are a first time home buyer or investor, this may not be the best method because you may be caught off guard.
Shadow Inventory is real and you may be missing out on your next investment or forever home! Have a conversation with one of our real estate agents to find out how you can buy it in this hot 2022 real estate market!