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Foreclosures

Foreclosures

Foreclosures Up in Some Areas, Down in Others…

by Steve Cook October 11, 2013
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RealtyTrac yesterday announced that in September overall foreclosure activity decreased from a year ago in 33 states, but actually was up from a year ago in 16 states, including Maryland (up 230 percent), Nevada (up 97 percent), Connecticut (up 69 percent), New Jersey (up 55 percent), Pennsylvania (up 34 percent), and New York (up 22 […]

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Foreclosures

Caveat Emptor: 2 Common Mistakes To Avoid When Buying Short Sales and Foreclosures

by Frank DeFazio May 11, 2013
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Short sales and foreclosures are have been hot commodities in the real estate industry for the last few years because buyers and investors believe that they can purchase these homes far below fair market value and in many instances they are correct.  This post identifies two potential sources of risk for buyers of short sales […]

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Foreclosures

How To Delay or Stop Foreclosure

by Katherine Grote February 1, 2013
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I’ve worked with a ton of short sales over the past year.  The single biggest source of stress for a short sale listing agent is watching the foreclosure date approach as you try to close the deal.  That date looms on the calendar, circled in red, with the clock moving faster and faster towards it.  I’ve […]

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Foreclosures

Foreclosure Update: Looks Like We’ll Be Moist for Years

by Steve Cook December 5, 2012
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It’s no secret that markets around the nation are so famished for foreclosures that discounts are shrinking and prices on distress sales are rising faster than they are for “normal” homes.  Individual investors, hedge funds flush with cash and first-time buyers desperate for a deal are falling all over each other in some places. Distress […]

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Foreclosures

Don’t Get in Trouble Flopping a Short Sale

by Ken Corsini August 1, 2012
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With the declining number of REO foreclosures on the market right now, many investors and wholesalers are having success acquiring properties through short sales. However, dealing with REO foreclosures and short sales can be two very different animals. While buying and selling an REO is typically straight forward, the laws surrounding the reselling of a […]

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Foreclosures

8 Tips for Bidding on and Buying REOs

by McKellar Newsom July 13, 2012
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Many people visit Jamaica to see waterfalls, parrot fish and nude beaches. But the Jamaican scene that investors enjoy is the bustling marketplace where people are passionate about buying and selling. Want one of those wood figurines? Some jerk chicken? Ackee fruit? Well . . . time to negotiate. Investors thrive on haggling for the […]

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Foreclosures

New Foreclosures Spike in May

by Steve Cook June 15, 2012
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Investors unhappy with current foreclosure inventory levels may have some temporary relief in the coming months as an unexpected spike in May foreclosure activity works its way through the system.  Overall activity broke the 200,000 barrier for the first time in three months and starts increased on an annual basis for the first time since […]

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Foreclosures

Rising REO Prices Are Squeezing Investor Margins

by Steve Cook June 6, 2012

Competition for REOs is driving up prices significantly in most regions of the country, which in turn is having an effect on investor margins in some of the largest traditional investor markets. Nationally, REO prices have risen an average of 8.1 percent over the last year on a median price-per-square-foot basis have outpaced non-REO price […]

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Foreclosures

Distressed Borrower Programs – Will They Work?

by Melissa Zavala April 3, 2012

There seem to be more and more programs each and every day that are coming out of the woodwork to help distressed borrowers save their homes from foreclosure. Here are two of them that looked pretty interesting at first glance, but if you read between the lines, you may find something entirely different: Bank of […]

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Foreclosures

Investor Market Share Grows, More Activity in Short Sales

by Steve Cook March 29, 2012

Investors continued to boost their activity in the housing market during the month of February, according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. And short sales have become a new target for investors now that other homebuyers have lost their enthusiasm for these popular but often lengthy and unpredictable […]

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Foreclosures

Foreclosure Markets Spawn Single Family Rental Boom

by Steve Cook March 22, 2012

Single family rentals increased 2.7 percent from 2005 to 2010, the fastest growing rental housing category, and most of that growth was centered in markets that have suffered the double whammy of recession and large inventories of foreclosures. New data from the Census Bureau’s American Community Survey document the explosive growth of single family rentals, […]

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Foreclosures

Where Have all the Foreclosures Gone?

by Richard Warren March 5, 2012
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There’s something missing from the nation’s foreclosure capital. It seems that while no one was looking all of the Nevada foreclosures have disappeared. Has the market finally absorbed all of the delinquent homes so that markets can return to some semblance of normality? Hardly. You can thank a new state law – with a wave […]

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Foreclosures

The Inventory Story: More REOs on the Way

by Steve Cook February 29, 2012

It’s normal at this time year, just weeks before the spring home buying season kicks off in most part of the country, for inventories of homes for sale to sink to yearly lows.  Expectations are that sellers are busy staging and buffing, with an eye towards listing their homes just as the first robin sings. […]

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Foreclosures

Bulk Sales of GSE Foreclosures Begin

by Steve Cook February 1, 2012
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The Federal Housing Finance Agency (FHFA) today invited investors interested in purchasing pools of Fannie Mae, Freddie Mac and FHA foreclosures in the nations hardest-hit metropolitan areas with the requirement they rent them for a period of year to pre-qualify. The new bulk sales program, under discussion since August, will begin with a pilot program […]

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Foreclosures

Foreclosure Update: Happier Days on the Way for Judicial States

by Steve Cook February 1, 2012

America has become a nation of two foreclosure realities: judicial states, where judicial review is required for every foreclosure, and non-judicial states.  Both have their processing problems, but delays in judicial states are setting new records and impacting local real estate economies. December data from Lender Processing Services (LPS) paints a picture of increasingly clogged […]

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