foreclosures: All Cash Home Sales Trending Down - 05/15/15 03:51 AM
All Cash transactions on existing home sales accounted for 24% of sales in March. That number fell by 33% in comparison to March 2014 numbers. In general, smaller amounts of all cash deals suggest that investors are not as active and that the slack has been picked up by long-term homeowners.
The drop in all cash sales relates to the drop in investor activity. As distressed properties for sale have decreased and home prices have gone up, investors have been seeing thinner profit margins of late. Distressed sales took a 10% share of home sales in March, which was down from 14% … (0 comments)

foreclosures: Foreclosed On Home Buyers Returning to Market - 01/28/15 02:43 AM

According to Realtytrac, nearly 7.3 million people who have had their homes foreclosed on during the recession will once again be able to buy a home in the next 8 years. More than 500,000 foreclosed on homeowners will be eligible for a new home loan this year.
In general, homeowners can recover from a foreclosure in as little as three years. Realtytrac gives a more conservative number—seven years—for how long it will take these people to rebuild their credit score. By doing the math, homeowners who lost their homes in 2007 and early 2008 should now be able to … (1 comments)

foreclosures: Foreclosure News: This Is A Good One - 10/16/12 01:45 AM
Trends are shifting! Foreclosures continue to drop so much so that the number of those not occurring has passed the critical mass of those that are coming on the market. Foreclosure rates have fallen 7% in September reaching their lowest since July of 2007.
“We’ve been waiting for the other foreclosure shoe to drop since late 2010, when questionable foreclosure practices slowed activity to a crawl in many areas, but that other shoe is instead being carefully lowered to the floor and therefore making little noise in the housing market — at least at a national level,” says Daren Blomquist, … (3 comments)

foreclosures: 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)

foreclosures: Decrease in Foreclosure Sale Timelines - 01/24/12 09:24 AM
Decrease in Foreclosure Sale Timelines
Foreclosures are speeding up. JPMorgan, Chase, and Wells Fargo trimmed their foreclosure periods by 100 days as 2011 drew to a close. The backlog built-up dam finally broke says a Moody’s Investors Service report. Yet there is a long way to go before the inventories of REO’s are sorted through.
The more efficient foreclosure process boasts stats like:
“Chase averaged 264 days from referral to foreclosure sale in the third quarter for subprime mortgages — a big drop from the 412 days it averaged three months prior to that. Chase boasted the shortest time … (0 comments)

foreclosures: One-Year Cap of Foreclosures Deficiencies - 12/09/11 05:04 AM
One-Year Cap of Foreclosures Deficiencies
The House of Representatives introduced a new bill on Tuesday that seeks to limit and standardize the timeline in which a mortgage company can go after a home owner following a foreclosure for a deficiency judgment.
Dubbed the Fairness in Foreclosure Act of 2011 (H.R. 3566) wants to place a one-year cap on deficiency judgment (with the exception of states that already have shorter time limits in place). In addition, the bill proposes that mortgage lenders will not be allowed to go after “low-income” borrowers for a deficiency judgment.
"A deficiency judgment after foreclosure seems to … (2 comments)

foreclosures: Tips on Foreclosure Buying - 11/10/11 09:08 AM
Although a tedious process, many buyers are drawn to foreclosure sales because it is known to be the bargain price in the housing market. Statistics back that up. Distressed sales range from 20-40% less than a non-distressed home. With the appeal in the market, buyers must also take heed of what they are facing when they set out on a distressed sale search.
Here are three tips to help you navigate!
Focus on REO’s. Avoiding short sales will keep the process from getting too lengthy with the infamous negotiations associated with short sales. REO sales are more similar to traditional home … (2 comments)