Tag Archive: bank-owned home sales

Apr 01

Sales of bank-owned homes increasing, prices dropping

Distressed sales increasing In what could be an ominous sign for the still fragile U.S. housing market, the percentage of distressed properties in home purchase transactions climbed to the highest level in nearly a year in January. At the current rate of increase, distressed property transactions could account for the majority of home sales within just a few months. …

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Mar 02

Foreclosure sales decline 22%

The number of foreclosed sales dropped in the 4th quarter 2010 When looking at just the fourth quarter of 2010, the nation had 149,303 foreclosure sales which is a 22% decline from the third quarter and a 45% drop for year-over-year. Why the drop? “Foreclosure sales in the fourth quarter faced the twin headwinds of the expired homebuyer …

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Feb 24

Who’s buying homes? Cash buyers…

        Fewer first time homebuyers While the number of home sales is ticking upward, the momentum is not coming from first-time homebuyers reports The Seattle Times. The number of buyers in the ‘first-ever’ category fell to 29% in January –  the lowest percentage in nearly two years. Cash buyers, on the other …

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Jan 02

Charts show mortgage delinquencies trending down

 Foreclosure inventory increases are being driven both by elevated levels of foreclosure starts as well as few foreclosure sales. The average number of days delinquent for loans in foreclosure is a record 499 days with over 4.3 million loans 90 days or more delinquent or in foreclosure.   Foreclosures by mortgage product type are shown below, with subprime …

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Dec 06

Who are the #1 purchasers of REOs and short sales?

#1 purchasers of REOs and short sales are first-time homebuyers. Recent survey results published by Campbell/Inside Mortgage Finance show that first-time homebuyers are the No. 1 category of purchasers for move-in ready REO and short sales.  An REO property is one that is offered for sale by a bank or lending institution. In contrast, investors …

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