distressed properties: Distressed Properties—Not Always The Bargain They Are Made Out To Be - 08/09/12 05:13 AM
“Distressed properties can have great appeal,” says Wendy Forsythe, executive vice president at Atlantic Pacific Real Estate. “Discounted prices and historically low interest rates make these homes affordable to many families who might otherwise not be able to buy a property. But buyers also need to be selective because not every distressed property is a bargain.” 
Typical discounts on foreclosures are at about 19% on average. That number gets brought up and buyers have a tendency to become blinded to other relevant details that are top priorities in real estate. Here is a convenient list to keep in mind if you … (2 comments)

distressed properties: State of Distressed Properties in 2012 - 01/09/12 03:53 AM
State of Distressed Properties in 2012
Predictions are always hard to make and distressed sales are no different. Factors like home values, employment, and consumer confidence will all be determinants of the rising or falling housing market. That is the only thing that is certain.
“Foreclosures aren’t going away right now,” says Andy Firoved, CEO of CounselorDirect, a technology company that specializes in automating processes for various government foreclosure-prevention programs. “We’re going to have a certain level. The question is, how many?”  
These are the predictions made by Firoved:
#1-Government home ownership assistance programs will get more effective.
The … (2 comments)

distressed properties: Distressed Sales: A Little Explination - 12/08/11 09:54 AM
Many people call me to inquire about bank owned properties. . . 
Their belief is that a bank owned property is the best deal.  In many cases, this is true.  But this article will help to better educate you on distressed properties.  In my opinion, a distressed property is any property that is selling below current market value (often significantly below market) due to a number of factors:
1. Distressed properties may come from a number of sources including bank owned foreclosures, short sales or a traditional listing (meaning no third party, such as a bank, yet involved) with an extremely motivated seller. 
2. … (2 comments)