Denver-area residential real estate brokers fear a flood of foreclosed homes still held by lenders — the “shadow market” — will be put up for sale in 2010. One national report put metro Denver’s shadow market at nearly 14,000 homes, relatively low compared to cities that have been harder hit by the recession. Some Denver-area residential brokers aren’t even sure there is a shadow market. And some lenders with Denver-area operations, in their defense, contend they put foreclosure homes on the market for sale as fast as they can, largely because of federal regulatory pressure to sell those homes, as well as the cost of holding and maintaining the properties. There are Denver-area real estate brokers that believe the increase they’ve seen this year in broker price opinions (BPOs) signals more bank-owned homes will be listed for sale in the next few quarters.
http://www.bizjournals.com/denver/stories/2010/02/01/story6.html?b=1265000400^2805471&s=industry&i=resi_real_estate
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