Quantcast

Category: REO

Closing Timeframe is Increasing in Many Markets

Posted on November 4, 2011 in REO, foreclosures, housing news, short sales with no comments

The Campbell/Inside Mortgage Finance monthly Housing Pulse Tracking Survey confirms that heavy lender workloads associated with refinance applications and problems with appraisals are leading to an increase in the length of time it takes to close on a home loan. The normal timeline for closing is around 30 days.  Lender workload is now pushing closings [...]

Share/Bookmark

REO Investing – Bank-Owned Home Stock Down 17 Percent

Posted on October 6, 2011 in REO, housing news with no comments

Big news if you are into REO investing.  Barclays Capital estimates that banks owned 476,000 homes by the end of July 2011.  The REO stock estimated for September 2010, just before the robo-signing scandal broke, was 574,000. The July 2011 figure is 17% lower than the total stock on hand in September 2010. Barclays also [...]

Share/Bookmark

Glut of Foreclosures Focus of Senate Banking Subcommittee Hearing

Posted on September 30, 2011 in REO, foreclosures with 1 comment

Last week expert panelists gave a Senate banking subcommittee ideas on how to speed the elimination of the overhang in bank owned housing.  Participants included representatives from the National Association of Realtors® (NAR), the National Association of Homebuilders (NAHB), a non-profit housing association, Zillow and Amherst Securities. The hearing was called “New Ideas to Address [...]

Share/Bookmark

Buying Rental Properties: Obama Administration May Remove Foreclosures to Start Rental Program

Posted on July 26, 2011 in Fannie Mae, REO, economy, foreclosures, freddie mac, housing news with 7 comments

Interesting news for investors buying rental properties!  The Wall Street Journal reports that the Obama Administration is considering a proposal to remove Fannie Mae and Freddie Mac owned property from foreclosure sales in order to rent them out. If this program goes into effect it is intended to help stem the decline in home prices [...]

Share/Bookmark

Shadow Inventory Threatens Nation’s Recovery

Posted on July 13, 2011 in REO, foreclosures with no comments

Equifax Mortgage Services credit trend research for May 2011 reveals that the recovery is being hampered by the continued high levels of foreclosed and seriously delinquent property throughout the country. While several economic factors appear to be improving, housing continues to considerably dampen all projections for economic recovery. The shadow inventory and REOs are identified [...]

Share/Bookmark

Buying Investment Properties: Shadow Inventory Declines But Still Huge

Posted on June 30, 2011 in REO, housing news with no comments

CoreLogic’s latest estimate of the inventory of homes at least 90 days late on payments, those in foreclosure and those homes that are bank-owned, dubbed the “shadow inventory” is 1.7 million units as of April. The numbers are down from 1.9 million units in April 2010.  Both numbers represent a five month supply of inventory; [...]

Share/Bookmark

RealtyTrac Weighs In on Housing Market Recovery Prediction

Posted on June 23, 2011 in REO, economy, foreclosures, housing news, short sales with no comments

At Housingwire’s 2011 REO Expo in Ft. Worth, TX last week, RealtyTrac’s senior vice president, Rick Sharga, predicted that the recovery in the housing market would not come before 2015. He said, the run up in housing prices was unusually long, and therefore the downward slide would also be a very long one. In the [...]

Share/Bookmark

Investment Properties: Distressed Property Represents 39% of Home Sales

Posted on May 20, 2011 in REO, foreclosures, housing news, short sales with no comments

Investment Properties continue to be a great opportunity! The National Association of Realtors® existing home sales report for the first quarter of 2011 shows that 39% of all existing home sales during that period were distressed property including Short Sales and bank-owned homes.  This includes end-buyer sales as well as investment properties. The Q1 sales [...]

Share/Bookmark

REO Inventory 54.2% Higher than Last Year

Posted on May 20, 2011 in FHA news, REO, Uncategorized, foreclosures with no comments

REO Inventory 54.2% Higher than Last Year A recent HUD REO Inventory report shows that the FHA is holding about 25,000 more homes now than it was a year ago. In February 2010 FHA held 44,605 foreclosed properties; this February the number stood at 68,801. Part of the reason for the extra inventory is that [...]

Share/Bookmark

Foreclosure Investing: The Top 10 Foreclosure Cities

Posted on May 17, 2011 in REO, california, foreclosures, investor tips, maine, new york, north carolina, ohio, short sales, tennessee, wisconsin with 1 comment

RealtyTrac recently surveyed the top 100 cities in the U.S. based on population and looked at information on unemployment rates, sales prices, and the amount of foreclosure activity to determine the best bets for investing in foreclosures.  Its top 10 are: Akron, OH; Rochester, NY; Buffalo, NY; Cleveland, OH; Portland, ME; Milwaukee, WI; San Jose, [...]

Share/Bookmark
« Previous Page — Next Page »