Foreclosure.com: Inventory Rises 3%

The nationwide inventory of foreclosed residential properties rose 3% in August, according to Foreclosure.com, an online foreclosure listing service based in Boca Raton, Fla.There were 24,328 new foreclosed residential properties listed in the United States in August, and such properties totaled 93,440 overall, the company reported. "Foreclosure inventory has been steadily increasing since May, representing a slowdown in the purchase of foreclosed homes," said Brad Geisen, president and chief executive officer of Foreclosure.com. "This trend of sustained high inventory presents a strong investment opportunity for buyers, as lenders are challenged with greater holding and disposition costs the longer that they have to hold on to a property." The company can be found online at http://www.foreclosure.com.