Real Estate Foreclosures
Most REO Properties in New York Were Flipped, Furman Says
A big portion of REO properties in New York City over the 15-year period from 1993 to 2009 were flipped within a year, according to a study conducted by the Furman Center for Real Estate and Urban Policy, a research center launched by the Robert F. Wagner Graduate School of Public Service and the New York University School of Law.
Housing Bailout Impact on the Real Estate Industry
Before the problem in the mortgage industry caused further damage, the federal government has decided to step in with a multi-billion dollar bailout program. Effective last October 1, the said mortgage relief program aims to target about 500,000 distressed homeowners, allowing them to shift their existing mortgage to government-backed loans.
Once the initial $10 billion budget was utilized to buy mortgage securities, interest rates are expected to be more attractive considering that more capital will be available to the market. Of course, this does not mean that applying for a loan and qualifying will now be a lot easier especially with the stricter lending guidelines that lenders are imposing.
Real Estate Market: Where is it heading?
When the controversial housing rescue proposal was signed into law last month, many analysts and experts wondered if the timing was right. After all, the market must hit rock bottom first before it can fully recover from the foreclosure crisis.
Great Economy but an Unstable Real Estate Market
Even though the local economy of Georgia has been stable, there has been a consistency in the rate of Georgia foreclosure homes. There have been people who have not been able to keep up with the mortgage payments and have been losing homes at a terribly high rate.
North Carolina Real Estate Market is Better than the Worst in Nation
According to RealtyTrac, foreclosure homes in North Carolina increased by 78 in June this year. The California Company reports that there were 3,465 North Carolina foreclosure homes filings in June. The report included foreclosure homes in default notices, auction sale notices and bank repossessions.
Real Estate Prices in the United States Now at 2004 Levels
When home prices started declining as a result of the growing crisis in the mortgage industry, many analysts did not expect for the national home price average to drop as far as the pre-boom period. But it did, according to a report from Standard & Poorβs.
Buyers Warned Against Deceptive Real Estate Auctions
According to a report from Inman News, there was a lawsuit that alleges deceptive advertising practices in real estate auctions.
Real Estate Experts to First Time Buyers: Stay Away from Foreclosures!
For the past years, the number of properties entering some stage of foreclosure has actually skyrocketed to record levels. In fact, there are literally millions of foreclosure homes for sale in the market today. Because of their relatively lower asking prices, buyers can not help but be attracted to what these goldmines offer.
Partial Passing of Housing Rescue Bill
The United States House of Representatives passed a bill today by a vote of 239 – 188 to send $15 billion dollars to states for the purchase and renovation of properties in foreclosure. The Democrats are rallying to stop the foreclosure crisis and come to the aide of families and homeowners who have fallen [...]
3 Secrets to Selling Real Estate in a Sluggish Market
Considering that real estate market conditions are favoring buyers than sellers, it is not unexpected that many sellers find it challenging to negotiate a deal. If you are one of these sellers, you will find that following these three trade secrets can help you negotiate prices and close deals.
Know the Market: many sellers fail [...]
