"An increasing number of homeowners in 2015 have been cashing out the home equity they've gained during the housing recovery of the past three years," says RealtyTrac vice president Daren Blomquist. Home sellers realized an average price gain of $40,658 (17 percent) on their purchase price, the highest gain in eight years. Click Here to find out how much the value of your home has increased. Buyers using Federal Housing Administration loans (typically low down-payment loans designed for first-time buyers or those with low … (0 comments)
bank owned: Laying the Groundwork for Successful REO Transactions
- 03/15/13 10:52 PM
The real estate market has turned the corner. Am I being overly optimistic? I don’t think so. The signs and economists are saying that barring unforeseen calamities or further limitations on available mortgage credit, the housing market will continue to gain momentum into 2014. Let’s face it though -distressed properties are still prevalent in most parts of the country. Even in areas where prices have recovered, substantial shadow inventories—repossessed homes that banks or investors often purposely keep off the market—may be waiting to hit the market. Sadly, we are still seeing real-estate owned (REO) properties as common in certain markets. Without … (0 comments)
The housing recovery is expected to grow at an annualized rate of 0.6 percent through the third quarter of this year, then gain momentum and prices are projected to grow 3.7 percent between the third quarters of 2013 and 2014 until settling down to 3.3 percent annual increases over the next three years according to Fiserv, a financial services technology provider using data from the Federal Housing Finance Agency (FHFA). Both home prices and home sales volumes increased steadily last year, making 2012 the first positive year for both prices and sales since the housing market crash, excluding gains … (0 comments)
“There’s evidence that home values have begun to solidify in many local markets,” says Wendy Forsythe, executive vice president and head of global operations at Atlantic & Pacific Real Estate, a full-service real estate brokerage with offices in 22 states. “However, the marketplace remains saturated with distressed properties and such homes are routinely available at significant discounts.”
The National Association of REALTORS® reported that in May distressed properties represented a quarter of all existing homes sold. … (2 comments)
bank owned: Foreclosures available at steep discounts
- 01/18/11 08:27 AM
Foreclosures at Deep Discounts Last August, Deland, of St. Cloud, Fla., finally nabbed her dream home — a bank-owned foreclosure with three bedrooms, two baths and five acres of land for her horse — for an easy-to-take $111,900. But her closing was delayed in October after the seller, Fannie Mae, temporarily put all of its foreclosure properties on hold.
Deland patiently waited out the scare. By late November, as all 50 state attorneys general continued their investigation of so-called robo-signers and the process used to repossess many homes, Fannie Mae — as well as Freddie Mac. Ally Financial, Bank of … (0 comments)
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