Check out our recently remodeled Ballard property. This property was acquired for $310,000.00 and sold for $549,950.00 in 8 days. It was a beautiful project. http://static.animoto.com/swf/w.swf?w=swf/vp1&e=1337966952&f=KWrEiZjP5EqpgBJFeuIX2w&d=178&m=a&r=360p&volume=100&start_res=360p&i=m&options=
Read more
REO Prices Increase, Fair Market Prices Drop, Home Values Stabilizing
According to data from Clear Capital, over the last year, REO prices have increased 5.5%, while fair market prices dropped 2.9%. The real estate data provider explained that demand for REOs is most likely causing the increase in prices and named Carrington Holding Company, Amherst Securities Group, and Waypoint Financial as examples of investors purchasing…
Read more
RE/MAX Survey of 53 Metros Finds Home Prices Up Again
According to a March 2012 housing report released by RE/MAX, home prices have risen for the second month in a row now on a year-over-year basis. The RE/MAX report included 53 metro areas and found the median price in March was $184,525, a 7.3% price increase from February, and a 5.8% increase from a year…
Read more
Federal Reserve Issues Policy Statement on Foreclosures as Rentals
The general policy of the Federal Reserve is that banking organizations should make every effort to dispose of foreclosed properties and get them off their books as quickly as feasibly possible. However, holding onto these properties and renting them out to tenants may be the way to go “in light of the extraordinary market conditions that currently…
Read more
Foreclosure Starts Rise in December and January Signaling Foreclosure Backlog Pipeline Improving
Data through the end of January shows significant movement in both foreclosure starts and sales, and it has some market watchers saying the lull in foreclosure activity seen over the past year-and-a-half may very well be coming to an end. Lender Processing Services’ (LPS) latest market report says foreclosure starts jumped 28% between December and January,…
Read more
Shadow Distressed Inventory Total 1.6 Million – Half of All Inventory Listed Properties
The number of distressed properties not currently listed for sale on multiple listing services (MLSs) stood at 1.6 million as of October 2011, according to CoreLogic. This shadow inventory is approximately half of the industry’s visible inventory of homes available for sale, CoreLogic says. Thus, for every two homes available for sale, there is one home…
Read more
Foreclosure Crisis Isn’t Even Halfway Over: Communities of Color Greatly Impacted by Crisis
The foreclosure crisis has had a long and destructive run – five years and counting, with millions put out of their homes. According to the Center for Responsible Lending(CRL), we’re not even halfway through the devastation. The organization’s analysis of 27 million mortgage loans originated over a five-year period found that 6.4% of mortgages made between 2004 and…
Read more
Past Due Mortgages = 6,298,000 down from 8,118,000 peak in January 2010
There were 6,298,000 mortgages going unpaid in the United States as of the end of October, according to Lender Processing Services (LPS). It’s a daunting number, but the data show that it’s actually been on a fairly steady decline for nearly two years now. At the start of 2011, the total number of non-current mortgages in the…
Read more
Delinquencies Still Falling but Foreclosures at an All-Time High – 631 days average
Data released by Lender Processing Services (LPS) Thursday shows mortgage delinquencies are continuing to decline, now nearly 30% below their January 2010 peak. Loans in the process of foreclosure, on the other hand, are steadily rising. LPS says foreclosure inventories reached an all-time high at the end of October, making up 4.29% of all active mortgages. The average days…
Read more
Real Estate Shadow Inventory Beginning to Shrink – 45 Months to Clear Current Levels
That ominous shadow inventory of repossessed and soon-to-be repossessed homes is getting smaller. Standard and Poor’s (S&P) has released its third-quarter shadow inventory update, which shows both the volume of distressed assets and the amount of time it’d take to liquidate these properties is contracting. S&P says the volume of distressed residential mortgages included in its shadow…
Read more
