What is Shadow Inventory & How Can You Find It?
Posted on 05/30/2019 by GeoData Plus
There is no exact definition of the term shadow inventory; however, most sources at least agree that shadow inventory refers to homes that are not yet for sale but will be coming to market in the future. Inventory is where differences in definition vary the most.
Some believe it is only REO (or banked owned properties) and lis pendens (also known as pre-foreclosures - those properties in the process of foreclosure).
Others may include properties where the homeowner is delinquent by 90 days or more, thus facing lis pendens (notice of default) and eventual foreclosure.
Still others would include properties where the homeowner is purposefully waiting for market conditions to improve before selling, regardless as to whether or not they are facing foreclosure.
Over time, GeoData Plus has created its own definition of shadow inventory, based on the data it is able to track: properties that have had a lis pendens filed on them, but have not yet sold. Learn how to find shadow inventory below.
How Can I Use These Properties to Build My Business?
Since they are not yet in foreclosure, it is very difficult to find these properties. However, finding a distressed property begins with finding the distressed property owner. Many of those owners may not know how to ask for help or who to ask. With GeoData Plus, users can search for lis pendens and reach out to these homeowners with our prospecting tools. Once you have identified lis pendens in the area of your search, you can produce a mailer, or call the number associated with a particular property. You can develop relationships with people who need your help, and grow your business.
GeoData Plus is the Property Information Source You Need
GeoData Plus is the all-in-one property data and comparable searching tool trusted by thousands of real estate professionals. We aggregate public record and for sale/for rent listings to offer property data you can’t find anywhere else.
You can try GeoData Plus with a 30 day money-back guarantee by clicking on this link. Or, call us at 516-663-0790 to learn more about how GeoData Plus can simplify your business.