Repo Homes
Repossessed Home Listing Gaining Ground Among Buyers
Housing data for November 2010 showed an increase in the number of signed purchase contracts, marking the fourth month in a five-month period that housing sales have risen in the U.S. Economists report that majority of the contracts involved foreclosed dwellings and properties in repossessed home listing.
Best Places to Buy Repo Homes in the U.S.
Housing prices in majority of metro areas in the U.S. continue to decline primarily due to the presence of thousands of foreclosed and vacant properties. According to housing analysts, areas where prices are depressed by foreclosures will be the best market to buy repo homes and other low-priced residential properties.
Repo Property Totals Decline in the U.S. for October
The total number of U.S. foreclosed homes and repo property declined in October 2010 by 9% when compared with total foreclosures for September 2010. According to housing market analysts, the decline is the biggest margin so far for 2010. Part of the reason for the decrease, analysts stated, is the temporary freeze on the sale of foreclosed properties imposed by several major lenders.
Distressed and Repossessed Properties Account for Big Part of Sales
A big part of existing home sales in the U.S. for August 2010 was accounted for by repossessed properties and distressed residences. According to the National Association of Realtors, the market for existing residential properties posted increased sales for the month with an estimated 7.6% rise compared with previous month's data.
Market for Single Family Repossessed Homes in South Florida Improved
Some improvements were exhibited by the single family repossessed homes market in South Florida during the 2010 second quarter. According to real estate firm Zillow.com, 44% of single family dwellings in the region have mortgages that are worth more than the properties' values. This is a slight improvement from the 47% recorded a year ago.
People Who Buy Repo Properties Got 27% Discount in May 2010
Investors and individual home purchasers who buy repo properties got a bit more discount during the month of May 2010. According to the latest housing market reports, the average discount offered by repo homes to buyers is 27%. This figure is in comparison with the same month of 2009.
California Lists of Repossession Properties among the Top
California lists of repossession properties are among the most sought after lists, based on a report recently released by a top foreclosure research organization.
Number of Repossessed Houses Expected to Reach One Million in 2010
The latest figures covering the foreclosure market of the U.S. showed that repossessed houses will likely reach the one million mark before the end of the current year. According to real estate analysts, this is mainly due to banks starting work on backlogs of problematic housing loans at a quicker rate than they did during the last three months or so.
Court Decision in Florida May Affect Bank Repo Houses for Sale Market
In a possible ground breaking move, a court in South Florida made a decision that can put an end to banks’ tactic of delaying taking the title of financially troubled repo houses for sale. According to market observers, banks use this method to avoid paying assessments that are past due and legal fees that should be given to homeowner associations.
Repossessed Homes for Sale Rose in the Idaho Treasure Valley
Repossessed homes for sale increased to record levels in the Treasure Valley of Idaho in March, based on figures from Idaho-based real estate analysts. Treasure Valley covers Boise, the lowland areas west of Boise and areas spanning Weiser in the north to Mountain Home in the south.
