Third-party investors are much faster at reselling foreclosures than banks, according to ForeclosureRadar, a California-based tracking firm. ForeclosureRadar keeps close tabs on foreclosure activity in states along the country’s western seaboard, and the company says one market dynamic that it’s found to be consistent throughout the area is that investors are moving foreclosed homes at a…
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Foreclosure and Delinquency Numbers Rise Again
Data released by Lender Processing Services (LPS) last Thursday indicates foreclosure and delinquency numbers are on the rise again. The company’s report shows that foreclosures were initiated on 217,486 loans in June, up more than 10% from May. Interestingly enough, the company says most foreclosure starts are occurring on loans that are less than six…
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1 Million Foreclosures Delayed Until 2012
According to the latest report from RealtyTrac, an estimated 1 million foreclosure-related notices for defaults, auctions, and home repossessions that should be filed by lenders this year will be pushed back until next year. While the delays could give home owners more time to catch up on their payments and try to avoid foreclosure, housing…
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Distressed Properties 39% of Existing Homes Sales in 1Q 2011 – Investors Starting to Come Back to the Market
According to data released Tuesday by the National Association of Realtors, distressed properties – including REOs (bank-owned homes) and pre-foreclosure short sales – made up 39% of 1st quarter existing-home sales in 2011. That’s up from 36% from the same quarter in 2010. Distressed Properties Sales now make up over 1/3 of all closed sales…
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REO (Real Estate Owned) Inventory Continues to Rise to Record Levels Through Q4 2010 Opening Up More Opportunities for Investors
It seems like nearly every month and every quarter of a calendar year that goes by these days, the amount of REO (Real Estate Owned) inventory continues to grow to new record levels. It has become clearly evident that the U.S. Government and its Government Sponsored Entities (GSEs) will have a large role in dictating…
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Seattle No Longer Immune From Real Estate Market Downturn – But Opportunity Knocks!
For years, Seattle has been viewed as largely immune to downturns in the economy. Historically, Seattle has shown itself remarkably resilient to the ebbs and flows of the national economy by often being the last city to experience impacts from the economic strife and the first city to begin leading the country out of its decline. Dating back…
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REO (Bank Owned Homes) Inventory: A Permanent Fixture and Investor Opportunity in Today’s Real Estate Market
Through the 3rd Quarter of 2010, distressed real estate transactions (REOs, Foreclosures and Short Sales) accounted for nearly 33% of all closed transactions, the largest portion being REO and Foreclosures combining for 25% of the closed transactions. REO inventory is currently at record highs. The REO inventory of Fannie Mae, Freddie Mac and FHA increased nearly 24% in…
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Why using IRA money to invest in real estate makes sense in today’s market? The Power of the Self-Directed IRA!
I have been interested for some time in writing about the topic of using Self Directed IRA funds to invest in real estate. The severe decline in the real estate values since 2006, a figure now hovering at -28.2% nationally, has made it an even more important topic to discuss. As a former licensed Financial…
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Existing Homes Sales up 10% in September…What Does It Mean For The Market?
According to the National Association of Realtors report today, existing homes sales rebounded strongly in September. Sales were up 10% in September 2010 to a seasonally adjusted annual rate of 4.53 million units, a substantial increase from July's rate of 3.84 million units - a 15 year low. While these numbers are positive, sales have…
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Foreclosure Moratorium Lends More Support To Buying REOs
The recent moratorium announced by Bank of America to halt the foreclosure process in all 50 states while it reviews whether staff may have cut corners while processing the paperwork will extend the foreclosure crisis further.Analysts predict that a moratorium "could further depress housing prices and said it would be very damaging to exactly the…
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