2012 was 2nd best on record

Gulf Shores - Orange Beach - Perdido Key Topics: 2012 was 2nd best on record

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	Name:	FLgirl -
	Subject:	2012 was 2nd best on record
	Date:	2/6/2013 11:27:50 AM

The judicial process is also a factor. In FL, it does take much longer to foreclose than in non-judicial states. However, I don't really think that has much bearing on prices. The banks are sitting on a hugh "shadow" inventory right now. From what I have read, they don't have to show the loss on their books until the house is sold. They are deliberately letting the inventory out a little at a time to control prices and to spread their losses over a greater period of time. If every home that was in defauilt forclosed tomorrow, they would just have a larger inventory that they would be sitting on. If every home that was in default were put on the market the prices would plunge again. Supply and demand.