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Buying a foreclosed home? Spring 2012 may be your best chance yet. A combination of aggressive legislation and low mortgage rates have left today's market ripe for value.
A program to dispose of large blocks of REO could help clearing out home inventory which, in turn, would benefit the U.S. economy as a whole.
Finishing the foreclosure process and unloading the REO are two different things. REOs once linked to subprime loans continue to take the longest to sell.
Buying a foreclosure? Get a move on. Foreclosure activity fell to a 49-month low last month, and figures to be even lower through 2012. See where foreclosures are occurring, and where they're not.
The number of foreclosed homes for sale is dwindling, yet buyer demand for them surges. Remember that highly-publicized, 25% discount for buying a bank-owned home? It's about to go away. If you're looking at foreclosures, here's where to find them.
With each passing month, there are fewer and fewer foreclosures nationwide. Foreclosures are down on a year-to-year basis for the 12th straight month.
National Association of REALTORS® says foreclosures sell at a steep, 20 percent discount relative to non-distressed homes. There's bargains to be had -- you just need to know where to find them.
There's good foreclosure buys out there, but it's getting harder to find them as bank REO slips. The trick is to search the databases that the other buyers aren't.
For the first time since February 2009, the monthly foreclosure filings retreated below 300,000. The pace of foreclosures is slowing nationwide. Or is it?
The average sale price on a home in some stage of foreclosure was 26 percent lower last month than homes *not* in some stage of foreclosure.
NAR says home buyers get a "distressed home discount" of roughly 15 percent. Banks are working to reduce that number.
The 80/20 Rule no longer holds true with respect to foreclosures. In Q2 2010, the 10 most foreclosure-heavy states now account for just 70 percent of foreclosures. That's a big drop for a 12-month period. Based on RealtyTrac data, foreclosures haven't been this un-concentrated since 2007.
The National Association of Realtors® says the typical "distressed home discount" ranges near 15 percent. Buying foreclosed homes can be an excellent value if you find REO in livable condition.
There's 11 days left to claim the government's home buyer tax credit and if you're among the thousands of buyers with their sights on foreclosures, the timing may be perfect. There's been 257,000 new bank REOs since January.
Foreclosure-related filings topped 300,000 last month, according to foreclosure-tracking firm RealtyTrac. Nationwide, 1 in every 418 households was served some form of foreclosure notice but -- as always -- foreclosures are more common in some areas than others. In February 2010, 4 states accounted for more than half of the country's foreclosure-related activity
