Foreclosure Market
Foreclosed Home Search Made Easier for Homebuyers
Foreclosed home search has been made easier and more convenient for the homebuyer by online real estate brokers. The homebuyer does not have to take time off from work to view houses.
Banks Withholding Foreclosure Properties to Boost Sales
Banks are being blamed for the shortage of foreclosure properties for sale as industry experts claimed that they are withholding the release of repo homes for several months now. Industry experts pointed out that banks opted not to release foreclosure properties for sale on the market because they wanted to create an artificial shortage of distressed properties.
Fannie Mae Tasked to Sell Houses in Foreclosure Listings
Mortgage giant Federal National Mortgage Association or Fannie Mae is facing the daunting task of taking over, rehabilitating and putting on foreclosure listings for sale about 65,000 repo homes.
Surge in Sales of Bay Area Foreclosed Homes
Sales of bank-owned foreclosed properties in California’s Bay Area increased in January. Of the 3,918 existing homes sold, 54.2 percent were bank-owned foreclosed homes. According to San Diego-based research company MDA DataQuick, the January existing-home sales are a big increase from the 2,312 total sales in January 2008.
Short Sales and Foreclosed Homes Attack the Market
Home prices have dropped its deepest because of foreclosure. Potential buyers flock to repossessed properties for they are more affordable. Foreclosed homes for sale are now somewhat in demand.
Foreclosures Hit Home Market Prices in 20 Cities
The home price index in 20 metropolitan cities in the United States declined by 18.2 percent for the annual period ended November 30, 2008.
The Basics of Foreclosure and Short Sale
A homeowner who could not fulfill his responsibility of paying his monthly mortgage has two options: foreclosure and short sale.
