real estate education: REO to Rental, FHFA Reveals 3rd Winner for REO Initiative, C.A.R. Voices Disapproval
- 11/07/12 01:55 AM
FHFA Reveals 3rd Winner for REO Initiative, C.A.R. Voices Disapproval By: Esther Cho The Federal Housing Finance Agency (FHFA) announced a third bidder scooped up properties in three states for the agency’s REO-to-rental initiative, leaving Atlanta as the sole metro in the program with no winning bidder.
Colony Capital, LLC purchased 970 properties in Los Angeles and Riverside, California; Phoenix, Arizona; and Las Vegas, Nevada, the agency revealed Thursday. Colony Capital is a private real estate investment firm based in California. The agency’s REO initiative seeks to sell Fannie Mae foreclosures to institutional investors in hard-hit … (3 comments)
real estate education: Housing Recovery to Occur in Two Phases
- 06/13/12 05:03 PM
Housing Recovery to Occur in Two Phases: Demand Institute By: Esther Cho The housing recovery will come in two phases. First, home prices will rise by just under 1 percent in the second half of 2012. In 2013, prices will rise by 1.5 percent, then go up another 2.5 percent in 2014. For the second phase, home prices will increase 3 to 3.5 percent between 2015 and 2017. These are the predictions from a report released by the Demand Institute, which is jointly operated by The Conference Board and Nielsen.
The report, titled The Shifting Nature of U.S. Housing … (4 comments)
real estate education: California Promising Despite Drop in Sales: C.A.R.
- 05/23/12 01:36 AM
California Promising Despite Drop in Sales: C.A.R. By: Tory Barringer The California Association of Realtors (C.A.R.) reported Tuesday that, although pending home sales in the state fell from March to April, other statistics indicate a good start for the housing market.
C.A.R.‘s Pending Home Sales Index (PHSI) fell from a revised 138.9 in March to 128.0 in April. This index was nearly 14 points higher than the revised 114.4 index from April 2011, marking the 12th consecutive month that pending sales were higher year-over-year. Pending home sales figures are often used as an indicator of the market’s future … (1 comments)
real estate education: Bank Of America, Loan Modifications! Update, provided by REO Institute
- 05/18/12 03:43 AM
Take a look at an article today….. http://soc.li/uljOeLW This is your Short Sale Information provided by the REO Institute® Please take a minute to read this important information about Bank of America Short Sale update! This could be very helpful to your Real Estate clients/homeowners.
If you like this post, please like the REO Institute on facebook, activerain. THANKS, James … (1 comments)
real estate education: Combined Foreclosure Activity Wanes, Up in Certain States: RealtyTrac
- 05/17/12 03:58 PM
Combined Foreclosure Activity Wanes, Up in Certain States: RealtyTrac By: Esther Cho Foreclosure filings – default notices, scheduled auctions and bank repossessions – totaled 188,780 in April 2012, which is the lowest monthly total since July 2007, according to RealtyTrac’s Foreclosure Market Report April foreclosure activity also fell 5 percent from the previous month and was down 14 percent from a year ago in April.
Even though certain individual states increased in foreclosure activity, Brandon Moore, CEO of RealtyTrac, said a rise in many state and local markets in April was masked at the national level … (0 comments)
real estate education: California law Affects Foreclosure / Short Sale Investors
- 05/12/12 04:46 AM
How California law Affects Foreclosure / Short Sale Investors States have varying laws governing foreclosures and some follow California law. To completely understand your rights as a foreclosure buyer, contact a local real estate lawyer. However, realize that for a long time in California, a real estate agent could not represent a foreclosure investor if all of the following four statements were true: · The home qualifies as the seller's personal residence. · The property is a single family home or 2 to 4 units. · A Notice of Default has been filed in the public records against the property. · … (0 comments)
An Austin, Texas, man was sentenced Thursday to 61 months in prison for his role in a foreclosure-rescue scam that took place in Southern California and elsewhere, Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced Friday. Frederic Alan Gladle, 53, was charged in the Western District of Texas and ordered to forfeit $84,010 and 63 prepaid debit cards he used for his scheme, in addition to this sentence. Gladle pleaded guilty on January 6, 2012, to one count of bankruptcy fraud and one … (1 comments)
According to data from Clear Capital, over the last year, REO prices have increased 5.5 percent, while fair market prices dropped 2.9 percent. 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 single-family REOs with the purpose of converting them into rental properties. “There has been quite a bit of buzz in the housing industry surrounding turning REOs into rentals. Our data … (2 comments)
real estate education: Surge in Investor Purchases Gave Home Prices Boost in February
- 05/06/12 02:58 AM
Surge in Investor Purchases Gave Home Prices Boost in February By: Esther Cho While Radar Logic reported home prices in February showed a month-over-month increase, the real estate data provider sees this trend as possibly being temporary, considering that warm weather and investment buying helped to drive up sales. Home prices increased 1.9 percent over the month ending February 16, according to Radar Logic’s RPX Composite Price, which tracks 25 major metropolitan areas. This increase was bolstered by strong sales in February. Sales transactions for the RPX Composite increased 22.9 percent month-over-month and 16 percent year-over-year through February … (3 comments)
real estate education: Survey: High Share of Distressed Properties Keeps Prices Down
- 04/29/12 12:48 PM
By: Esther Cho Inventory is shrinking and traffic for homebuyers seems to be increasing, but according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, home prices were down in March. One reason for this, according to the survey, which includes about 2,500 real estate agents, is the high number of distressed properties on the market.
Home prices for non-distressed properties in March dropped 5.7 percent from a year ago in March 2011. Prices for damaged REO properties also saw a 5.7 percent decline in prices, while move-in ready REO prices fell 2.5 percent during the same period. Short … (3 comments)
Information & Registration @ http://www.cvent.com/d/8cqpwv
Testimonials @ http://youtu.be/P9waRtut46o
… (0 comments)
real estate education: Calfornia's AG has requested to Suspend Foreclosure Sales!
- 02/29/12 07:56 AM
California’s attorney general has requested that the Federal Housing Finance Agency suspend foreclosure sales in the state for home owners with government-backed mortgages. Attorney General Kamala D. Harris has requested that home owners with loans backed by Fannie Mae and Freddie Mac get a temporary reprieve from foreclosures while housing regulators conduct reviews of whether at-risk home owners are eligible to have the amount they owe on their mortgage reduced. Fannie Mae and Freddie Mac have stated in the past that they’re opposed to mortgage principal reductions. The FHFA, which regulates Fannie and Freddie, has said that any such program would … (2 comments)
real estate education: REOCertified®
- 02/21/12 12:42 PM
REOCertified® http://youtu.be/P9waRtut46o www.REOInstituteColorado.com The REO Institute presents BPO Simplified and REO Simplified="REOCertified", National Designation! Accredited for Continuing Education in the States that we instruct in. This states are CA, CO, TX, FL, WY, AZ, UT and NV. … (0 comments)
While the $25 billion settlement between five of the nation’s largest servicers and 49 of the state attorneys general awaits approval from a judge, there is some relief in the industry that the 16 months of investigation and negotiation has come to a close. “The best thing about the mortgage settlement is that it’s done,” said Stan Humphries, Zillow’s chief economist on the company’s website. “The agreement brings closure to these issues and enables the company to move forward in our ongoing efforts to help borrowers find affordable and … (0 comments)
real estate education: Broker Risk Reduction and Property Management for REOs and Short Sales!!
- 02/06/12 07:22 AM
BROKER RISK REDUCTION AND PROPERTY MANAGEMENT FOR REOs AND SHORT SALES: During one of the most tenuous housing markets in history, there's alot riding on your shoulders in terms of liability. Learn all what can potentially go wrong with your company's distressed property inventory and what you need to be aware of. During this lively session, James Browning provides valuable information and insight on how to avoid liability and work more effectively with lenders, banks and outsourcers. http://youtu.be/EYSjTFndsLQ … (0 comments)
real estate education: ATTN: FLORIDA, REO Institute and Ed Kolpfer Real Estate School Presents: "REOCertified(R)", SSC (Short Sale Certified(R)
- 01/18/12 03:15 PM
"REOCertified(R)", THE PREMIER REO National Designation! You are invited to the BPO/REO Certified continuing education classes on either Feb 7th or 9th or the Short Sales Simplified Course on Feb 8th or 10th, 2012. These classes will be great events designed to provide you with many new tools for today’s real estate market. Want to work in the BPO/REO market? This class provides in depth training on how to complete BPOs and sell REOs.Don't want to work in the BPO/REO market, but want to know how to work with buyers purchasing foreclosed properties? This class provides the knowledge you need to … (1 comments)
The Treasury Department released a new report Monday highlighting the results of its flagship Home Affordable Modification Program (HAMP). Nearly 910,000 homeowners have received a permanent HAMP modification to date, saving an estimated $9.9 billion in monthly mortgage payments. Treasury says borrowers now entering HAMP have a better chance of earning a permanent modification and realizing long-term success. Eighty-three percent of eligible homeowners that signed on to HAMP since June 2010 have received a permanent modification, with an average trial period of 3.5 … (0 comments)
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