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August 30, 2010
In real estate it has always been about “location, location, location”, and then along comes REO. Now it’s about “price, price, price”. We all know that “price” sells; it always has but let’s not get too carried away. There is a “great price” and then there is a “ridiculous offer”.
Read More... August 30, 2010
Foreclosures and late payments on home mortgages dropped slightly in the second quarter of this year, but sustained high unemployment and a stalled economic recovery could make the improvement short-lived.
Read More... August 30, 2010
According to Everything Real Estate, bank owned homes can be as much as 20 percent less than the market value of similar properties. Despite the potential discount, being an informed consumer is the best way to purchase any parcel of bank owned real estate.
Read More... August 23, 2010
NEW YORK (CNNMoney.com) -- The president's signature foreclosure rescue plan is losing its punch, according to a federal report released Friday.
Read More... August 23, 2010
BOULDER, Colo. (MarketWatch) -- The recession is "officially" over according to GDP figures. Stocks are up 50% from the March 2009 bottom. Gold and silver are up dramatically, too. So what's the only remaining asset class that's still cheap?
Real estate.
Read More... August 16, 2010
The combined REO (Real Estate Owned) inventory for Fannie, Freddie and the FHA increased by 13% in Q2 2010 from Q1 2010. The REO inventory (lender Real Estate Owned) increased 74% compared to Q2 2009 (year-over-year comparison).
Read More... August 9, 2010
Bank owned properties consist of foreclosure real estate that did not sell through public auction and has been returned to the lender. This type of real estate goes by a variety of names including real estate owned, reo homes, and bank foreclosures.
Once real estate becomes bank owned it is placed for sale through the lender's loss mitigation department or local independent realtors. Most banks and real estate agents provide foreclosure lists or provide property listings on their company websites.
Read More... August 4, 2010
After welcome signs of growth in housing earlier this year, home sales — and prices — are likely to wilt again in the summer heat, a victim of rising foreclosures and weak demand in many parts of the U.S.
Read More... August 4, 2010
Jennifer and Andrew Greenberg didn't fall in love at first sight with the 1950s ranch house they just bought in Portland, Ore. But they did feel that way about the neighborhood. They saw people out walking and noticed how close the house was to coffee shops and wooded paths. So they chose the home that needed more work over a comparably priced but more upscale option in another area. "When it came down to it, we weren't willing to compromise on walkability," says Ms. Greenberg, a 37-year-old event planner.
Read More... August 4, 2010
If you’re looking to buy a home in the second half of 2010, there’s reason to be encouraged, say some metro Atlanta real estate professionals. That’s despite the reality that recovery in the hard-hit housing sector has been more steady than swift.
Read More... August 2, 2010
Buying bank owned real estate has become a popular choice amongst first time home buyers, real estate investors, and individuals seeking reduced priced properties. Bank owned foreclosures are sold directly through bank loss mitigation or their assigned independent real estate agents. Many properties are priced at 20- to 40-percent below market value.
Read More... August 2, 2010
Bank repossessions – the actual foreclosure on a home and conversion to an REO (Real Estate Owned) property – hit a record high in May 2010 for the second month in a row, according to foreclosure experts RealtyTrac. Lenders repossessed a total of 93,777 homes, a 1 percent jump from April and a 44 percent rise from May of last year.
Read More... July 26, 2010
REO homes are Real Estate Owned Homes or a property owned by banks because the original owner defaulted on mortgage payments. REO homes are a great opportunity as they sell at deep discounts.
Read More... July 20, 2010
Most homebuyers believe that bank REO foreclosures are the safest forms of foreclosed properties. This is, in some ways, true. However, getting an offer accepted might not be as easy since a lot of investors are interested in these properties and a regular home buyer can find himself competing against a handful of better offers. To improve one's chances of getting accepted, the offer price should be just about right.
Read More... July 20, 2010
Pace of New Repossessions Slows, But this Year Likely to Eclipse 2009 for Lost Homes as Banks Tackle Backlogs
Read More... July 20, 2010
The foreclosure picture in metro Atlanta appears to be improving.
Foreclosure notices declined 25 percent in July when compared with June and 5.6 percent from a year ago, according to figures released Monday by Equity Depot.
Read More... July 1, 2010
NEW YORK (CNNMoney.com) -- Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.
Read More... June 25, 2010
For the first time in two years, fewer homeowners are missing mortgage payments, Treasury Department regulators reported Wednesday, but foreclosures are surging as many loan-modification efforts fail.
Read More... June 25, 2010
NEW YORK, NY--(Marketwire - June 24, 2010) - As the government-sponsored enterprises (GSEs) and Federal agencies involved in housing finance sell their collective inventory of over 200,000 repossessed homes, they will generate significant pressure on prices, according to the April 2010 RPX Monthly Housing Market Report released today by Radar Logic Incorporated. And with their large position in the delinquent mortgage pipeline, their influence over home prices could last for years.
Read More... June 25, 2010
The home-foreclosure crisis will be with us for years, but here’s a small sign of progress: The number of home loans in the foreclosure process may have peaked, according to Barclays Capital in New York.
Read More... June 18, 2010
The national foreclosure rate continued to fall in May from the previous month, according to a new report released Thursday.
Read More... June 18, 2010
Banks took foreclosure actions against 322,920 properties in May. That’s down 3 percent from the month before, including default notices, bank seizures, and foreclosure auctions.
Read More... June 11, 2010
Real estate owned or REO properties are houses foreclosed by banks because of the failure of their homeowners to pay their mortgage loans. They are properties that were not sold at auctions and returned to the banks. Buying REO properties has many advantages, especially to new investors.
Read More... June 7, 2010
Buying foreclosed homes in fixer-upper condition gives you a larger profit margin.
Read More... June 7, 2010
Many investors know the value of a Bulk REO Portfolio while others may need or desire direct access to Bulk REO Portfolio Acquisitions for investment. Buying foreclosure properties presents a huge investment opportunity for agents, home buyers and real estate investors seeking pre-foreclosures, foreclosure auctions and bank-owned properties.
Read More... June 7, 2010
Before investing in a foreclosure home it is important to consider the advantages and disadvantages of this type of real estate purchase.
Read More... June 1, 2010
More and more people are looking into bulk REO investments as a way to alleviate their financial conditions. If you are one of those people who think that REOs are the best way to go, here is a guide to show you the essential guiding principles that you need to be acquainted with in order to start successfully with bulk REO investing.
Read More... June 1, 2010
NEW YORK (CNNMoney.com) -- Going, going, gone: An increasing number of homes are now being sold at auction -- rather than through real estate brokers -- in an effort to dump properties more quickly and efficiently.
Read More... June 1, 2010
It’s a bit like guessing how many pennies are in a gallon jug at the state fair, but housing analysts keep trying to count how many foreclosed homes banks and mortgage investors own.
Read More... May 21, 2010
With the number of bank-owned REO properties expected to rise in the summer of 2010, here are 7 Tips that can help you snag a bank-owned property.
Read More... May 21, 2010
A recent study by Barclays Capital says that U.S. lenders are holding fewer foreclosed homes than previously assessed by the research firm.
Read More... May 14, 2010
More people lost their homes to foreclosure in April as banks worked through a backlog of troubled borrowers, according to data released Thursday.
Read More... May 14, 2010
The term foreclosure has become all too common in everyday vernacular. Buyers hunt for foreclosed properties, while sellers attempt to steer clear of them.
We all have seen one that is for sale in our own community. These are known as REO (Real Estate Owned) properties, which are bank owned, and are being sold on the market—usually at a discount price—after failing to sell at a foreclosure auction.
Read More... May 14, 2010
There are more foreclosures in the United States right now than we have ever experienced before. But smart real estate investors are turning these ‘lemons’ into ‘lemonade’ in an incredibly profitable new way.
Read More... May 14, 2010
Bank owned foreclosures refer to those that have reverted to the bank's ownership after a public sale. These properties can range from single units to multi-family units, condominiums, apartments, townhouses, duplexes and other types of structures.
Read More... April 19, 2010
LOS ANGELES — A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.
Read More... April 14, 2010
WASHINGTON, April 14 (Reuters) - An Obama administration program to help struggling homeowners modify their mortgages is not moving fast enough to keep up with the growing number of foreclosures, a U.S. congressional watchdog said on Wednesday.
Read More... April 9, 2010
Question: With all the talk about negative equity, the next logical question is: "How long will this last?"
Read More... April 9, 2010
The rich and famous now have something in common with hundreds of thousands of middle and lower-class Americans: The bank is about to take their homes.
Read More... April 1, 2010
ORLANDO, Fla., March 31 /PRNewswire/ -- The countdown has begun: Only a month remains before the federal homebuyer tax credit expires, so now is the time for house hunters to find the home they've always wanted in Florida.
Read More... April 1, 2010
RISMEDIA, April 1, 2010—The real estate brokerage industry is in the process of coming out of a significant storm that has wreaked havoc on a large percentage of firms.
Read More... March 29, 2010
I'm always a sucker for the next good idea, and the single-family residential market could use a good idea. With more than 3.6 million homes on the market as of third-quarter 2009, perhaps someone could invent a way to sell more of those homes and stabilize the supply-demand equation.
Read More... March 29, 2010
Atlanta’s housing market has likely hit bottom, but sagging consumer confidence will make recovery slow in 2010.
Read More... March 29, 2010
Never have we seen such a strong buyers’ market on the south side of Atlanta with investors from across the nation snatching up the bargain-priced homes in Clayton and Henry counties.
Read More... March 29, 2010
The requests for smaller homes have become more numerous and frequent.
While a majority of homebuyers aged 55 and over are seeking homes approximately the same size as their present home, builders catering to the age group can no longer afford to ignore the cash-strapped population demanding a smaller alternative to the 2,400-square-foot new home.
Read More... March 29, 2010
The springtime spurt in home buying may hit before the snow melts this year as buyers scramble to meet an April 30 tax credit deadline.
Read More... March 22, 2010
The supply of foreclosed homes that banks need to sell is rising again, signaling further downward pressure on home prices in some parts of the U.S.
Read More... March 15, 2010
March 15 (Bloomberg) -- The U.S. housing market is poised to withstand the removal of government and Federal Reserve stimulus programs and rebound later in the year, contributing to annual economic growth for the first time since 2006.
Read More... March 11, 2010
The national foreclosure rate fell 2% in February from a month earlier, according to an industry report released Thursday, the latest sign that the pace of foreclosures is slowing.
Read More... March 5, 2010
The real estate crisis has gutted house prices, tipped millions into foreclosure, and rattled the global economy to its core. But for many would-be home buyers, the historic boom and bust have been a blessing in disguise.
Read More... February 28, 2010
The Obama administration, under intense pressure to help millions of people in danger of losing their homes, is considering a ban on foreclosures unless they have first been examined for potential modification, according to a set of draft proposals.
Read More... February 25, 2010
WASHINGTON – The Obama administration will wait until 2011 to propose an overhaul of mortgage giants Fannie Mae and Freddie Mac, Treasury Secretary Timothy Geithner said Wednesday, arguing that he wanted to put some distance between a new system and what he called "the worst housing crisis in generations."
Read More... February 25, 2010
To prop up house prices, the government is becoming a lender of first resort. The results are predictable.
Read More... February 15, 2010
RISMEDIA, February 13, 2010—(MCT)-Average rates for traditional 30-year fixed-rate mortgages have fallen below 5% again, Freddie Mac recently reported.
Read More... February 7, 2010
RISMEDIA, February 4, 2010—A national survey recently released by real estate leader Trulia shows that many Americans feel that President Barack Obama has not lived up to the hope he created during his campaign and his first 30 days in office.
Read More... January 27, 2010
RISMEDIA, January 25, 2010—(MCT)—Americans want smaller houses and they are willing to strip some of yesterday’s most popular rooms—such as home theaters—from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show.
Read More... December 14, 2009
Colleen Wells heard the housing market was supposed to be picking up, so she felt optimistic when she put her 60-acre farm in Ocala, Fla., up for sale early this year.
Read More... December 3, 2009
RISMEDIA, December 2, 2009—More American homebuyers will get tax relief thanks to changes made to the First-Time Homebuyer Credit.
Read More... November 20, 2009
Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of REALTORS®.
Read More... November 20, 2009
Nov. 9 (Bloomberg) -- The number of U.S. homeowners who owe more than their properties are worth fell in the third quarter as values stabilized and some homes were lost to foreclosure, Zillow.com said.
Read More... November 20, 2009
You might recall from last week that a new friend of mine, Danielle LaPorte, wrote a guide to finding your "style statement" -- a two-word phrase that "define(s) the true you." While LaPorte's style statements describe the subject individual's aesthetic and world view, I couldn't help trying my hand at creating a few homebuyer profiles based on this principle.
Read More... November 20, 2009
In the depths of the economic crisis earlier this year, Douglas County Bank CEO Billy Mayhew said his bank was drowning in foreclosures as home builders defaulted on their construction loans.
Read More... November 20, 2009
This year will likely be remembered in Atlanta real estate circles as a year of change.
Read More... November 20, 2009
Even as the housing market continues to stagger, foreclosure filings in October declined for the third month in a row. Foreclosure filings were reported on 332,292 properties last month, or 3 percent fewer than September's tally, real estate firm RealtyTrac said today.
Read More... October 12, 2009
The first time homebuyer tax credit may be extended, and even expanded, according to House Speaker Nancy Pelosi.
Read More... October 8, 2009
I heard this week from a young couple wanting help. Thinking about buying their first home, they wondered whether they should just wait until next spring.
Read More... September 25, 2009
Homes are selling again, but the market today is divided by price point. Your best strategy depends on where your home sits on that spectrum.
Read More... September 17, 2009
Curious about what opportunities exist for first-time homebuyers? Questions about how to obtain the $8,000 first-time homebuyer tax credit? Hear what the experts have to say as they answer important questions about this great opportunity.
Read More... August 18, 2009
Some modestly encouraging signs for the metro Atlanta housing market emerged in the second quarter, according to a real estate firm’s report.
Read More... August 14, 2009
NEW YORK (CNNMoney.com) -- As a growing number of Americans default on their mortgages, the Obama administration is set to meet Tuesday with industry executives to discuss their efforts so far to help people save their homes.
Read More... August 14, 2009
RISMEDIA, August 12, 2009-The statistics are sobering. According to RealtyTrac’s Midyear 2009 U.S. Foreclosure Market Report, more than 1.9 million foreclosure filings were reported on more than 1.5 million U.S. properties in the first half of 2009-a 9% increase from the previous six months.
Read More... August 14, 2009
NEW YORK (CNNMoney.com) -- You've heard of speed dating? It's got nothin' on foreclosure buying these days. In many places, anyone who wants to buy a foreclosure better act fast, or they're going to come away with bupkus.
Read More... July 16, 2009
Existing home sales rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers.
Read More... July 10, 2009
Offering 1 & 2 bedroom condo units with features like hardwood flooring, cherry maple cabinetry & granite countertops. Foreclosure pricing so they won't last long! Just minutes to Lenox Mall, MARTA, Perimeter, Buckhead & Downtown Atlanta. Prices start at $169,900 / Call Lamar at 404-643-1888 for more information.
Read More... July 10, 2009
Coldwell Banker NRT Development Advisors has launched a Web site to meet the growing demand for bank-owned residential real estate.
Read More... July 10, 2009
Foreclosures headed downward across the country in the second quarter as moratoriums, bailouts, reforms, and negotiations help strapped homeowners hang on to their properties, according the latest U.S. Foreclosure Index from property information specialists ForeclosureS.com.
Read More... July 6, 2009
July 6, 2009
Economic view from the New York Times regarding how to understand mortgage.
Read More... May 14, 2009
Low home prices and an array of incentives have sparked a surge of new buyers. After months of falling home sales, first-time homebuyers contributed to the biggest monthly jump in sales in February.
Read More... May 14, 2009
Builders shifting toward smaller, lower-cost homes to entice buyers. The extravagance that was commonplace in new homes during the housing bubble years of the early 2000s fails to attract buyers. Now, it's all about price.
Read More... May 12, 2009
You don't need to show up at courthouse auctions or comb through legal filings. These days many banks sell foreclosed homes through real estate agents.
Read More... May 12, 2009
Congress has recently passed a federal income tax credit for first-time homebuyers that is the lesser of either 10% of the home’s cost or $8,000. This will be available to qualified first-time home buyers for the purchase of a principal residence between January 1, 2009 and before December 1, 2009.
Read More...