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Foreclosures

Economy

Foreclosures Jump 5 Percent From Summer; Government Effort To Curtail Foreclosures Sinks Like Lead Duplex

by Charles Feldman | October 15, 2009

In my previous posting with the VERY long headline the other day, I challenged any and all to contradict me when I —and a Congressional oversight committee—concluded that the Obama administration’s attempt, thus far, to gain meaningful mortgage modifications has totally flopped.

In even less time than I thought would be the case, I have been proven sadly right: A new RealtyTrac report just out says that foreclosures are up a full 5 percent from summer to this fall…..meaning almost 940 thousand properties were impacted….

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Economy

Where is the real estate market going?

by Ryan Moeller | October 6, 2009

Has the real estate market bottomed? No, nope, not a chance. We are through 1 of 3 storms and have a crippled economy and really high unemployment. The good news is that we are through the worst. With terrible times come tremendous opportunities. After the last up cycle where everything went way higher then it should have, this had to happen. It is inevitable. If you are like me, you see the next 3-5 years as the opportunity of a lifetime. Here is why.

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Real Estate Investing

High Unemployment & Rising Foreclosure Rates: Yet Homes Sales are Increasing…

by Peter Giardini | September 2, 2009

As real estate investors everyone of us have to be thinking… “how in the heck do I profitably navigate in a market as defined in the title of this article?”

And that is the million dollar question, which I will respond to in just a minute, but first lets look at a few of the facts:

A Look at the Current Housing Picture

  1. Let’s start with the economy.  Depending on who you are listening to, we are either at the bottom, still moving downward or possibly even worse.  If you invest in California, Michigan or Ohio you don’t need to be told the state of your economy… it stinks!  The message here is that if people aren’t working, they will not be buying real estate or making good renters.
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Real Estate

Surfs up! Here comes another foreclosure wave!

by Winston Westbrook | August 17, 2009

real-estate-opportunityWe’ve all heard the saying that opportunity only knocks once.

Do you feel like you missed the boat?

Many investors that were not prepared for this current historic market of record low prices and interest rates feel that their boat has set sail and they did not get a chance to participate.

American author Louis L’Amour said it best. He said, “Some say opportunity knocks only once. That is not true. Opportunity knocks all the time, but you have to be ready for it. If the chance comes, you must have the equipment to take advantage of it.”

Well, I have good news for you my friends. Another wave of foreclosures is coming and you have some time to prepare for it. The historic market you think you missed is coming back and better than ever.

So Winston, where is this second wave of foreclosures coming from?

The 2nd wave of foreclosures is coming due to the following 4 reasons:

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Blogs

Pity The Retail Seller

by Richard Warren | May 25, 2009

Home sales in many markets are dominated by bank REOs, or Real Estate Owned as foreclosures are called after they have gone back to the bank. Generally these REOs will sell below market and can be a great deal for the buyer. However in areas that have an overabundance of REOs they do not sell [...]

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Blogs

Back To Reality, Foreclosure Moratorium Ends

by Richard Warren | April 20, 2009

I had been hearing a lot of talk lately about how home foreclosures were down. Real estate agents were pointing to this and saying that the market was going to turn around soon. Even the talking heads on the late night news were reporting that foreclosure filings were down and things were going to get better. Could [...]

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Blogs

Creating Equity Where There Is None

by Richard Warren | April 6, 2009

We are constantly hearing about homeowners who are upside-down on their homes. The only hope that they seem to have is doing a short-sale, or getting the bank to agree to take less than the amount owed. Frequently no buyer can be found and the home winds up in foreclosure. That is especially true here [...]

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Commentary

Beware “Good” Housing News; May Be A House Of Cards

by Charles Feldman | March 24, 2009

Don’t pop those corks just yet. We may have ducked a few thunderheads, but we still have enormous storm clouds ahead.
The news that existing home sales rose in February at the fastest rate in some six years, certainly brings with it the hope that the bottom (or end) to this mortgage caused misery is nearing.
While [...]

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Commentary

February Foreclosures Up 30% from 2008; Does Obama Own the Crisis Yet?

by Joshua Dorkin | March 12, 2009

Almost 291,000 homes across the US received at least one foreclosure-related notice last month, up 6 percent from January, says RealtyTrac.com, a compiler of foreclosure data.

The big question in the minds of pundits is when the Obama administration is going to officially own the economic and housing crisis. Fifty days into his administration, the [...]

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Commentary

Obama Removing Mortgage Interest Deduction – Dumbest Idea Of The Week

by Rob K. Blake | March 1, 2009

The Obama budget announced this week – in the middle of biggest housing crisis since the Great Depression – seeks to raise tax revenue by removing the mortgage interest tax deduction for those that are in the 33% and 35% income tax brackets.
What? You’ve got to be kidding, right?
I can’t count the ways this [...]

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Commentary

Obama to Detail Housing Bailout Plan on Wednesday

by Joshua Dorkin | February 16, 2009

So far, we’ve tackled the subprime lending crisis (and failed), the credit crisis (and failed), we’ve got a TARP, a Stimulus Package, Trillions of dollars in borrowed debt repayments as a result, and from what the Wall Street Journal tells us, we’ll learn about the President’s Housing Bailout Package – aka. Foreclosures R US, on [...]

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Commentary

How Much Time is 13 Seconds? Enough for Another New Foreclosure

by Joshua Dorkin | February 5, 2009

Remember the Rolling Stones song “Time is on Our Side”?
It seems that that song might finally be outdated!

According to the Center for Responsible Lending (CRL), we’re running out of time. Their website has a counter that sums up the total number of foreclosures since January 1, 2009, and every 13 seconds the counter ticks [...]

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Cool Stuff

New Foreclosure Technique for 2009?

by Joshua Dorkin | January 23, 2009

Will the banks take up this new technique in dealing with foreclosed homes?

Photo by: Colin McMillen

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Blogs

A National GO Zone?

by Richard Warren | January 12, 2009

When portions of the gulf coast states,                                                    Alabama, Louisiana, and Mississippi, were ravaged by Hurricane Katrina in 2005, the Government stepped in to create the Gulf Opportunity Zone, or GO Zone. The idea was that the best way to attract private investors to the area was to create tax incentives that were too good to [...]

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Foreclosures

New Data: Housing Crisis Gets Worse; Many Modified Mortgages Still Delinquent!

by Charles Feldman | December 23, 2008

Housing Bailout Programs Flop!
What programs there are–and there aren’t many–to bail out homeowners who are facing foreclosure are turning out to be total flops according to some new data reported by Reuters News Service.
Apparently, “the rate of re-default on modified mortgages is rising and may worsen as the economy deteriorates,” Reuters quotes banking regulators [...]

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