Tag Archive: bank owned homes

Jan 12

Foreclosures drop to lowest level since 2007

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2011 Foreclosures down 35% from 2010 Banks filed foreclosures on roughly 205,000 homes in December, the lowest monthly total since November 2007, according to RealtyTrac. The 1.8 million foreclosures for 2011 dropped nearly 35% from 2010. Unexpected delays kept 2011 numbers from passing the previous year’s total as was originally expected. Still, one in every 69 homes received …

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Nov 10

Investors sell foreclosures faster than banks

Foreclosure

According to Foreclosure Radar, investors are faster at reselling foreclosures as compared to banks. Those results vary by area, with Oregon banks taking an average 232 days to offload inventory — or 156 days longer than third parties, who take only 76 days. In Washington, however, it took banks only 52 days longer than third parties …

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Sep 17

Bank of America shifts West Coast foreclosures into overdrive

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Foreclosure starts increased in five West Coast states from the previous month: California, Arizona, Washington, Oregon and Nevada. In California notice of default filings jumped nearly 70% from the previous month. BofA initiated foreclosure procedures at a rate that more than doubled in August, jumping 116% from the previous month. Wells Fargo and U.S. Bank also showed increases …

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May 28

April 2011 Home Sales Report: multiple offers increasing

NORTHWEST MULTIPLE LISTING SERVICE Sellers seeing something that had all but vanished in recent times: multiple offers Directors of Northwest Multiple Listing Service are noting more bidding wars in certain neighborhoods and price ranges, even though the latest figures show fewer sales and lower prices than a year ago. Shrinking inventory is spurring activity, with some brokers reporting …

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Dec 02

Distressed homes sell at largest discount since 2005

As reported by Bloomberg News, U.S. homes in the foreclosure process sold for about 32 percent less than non-distressed properties in the third quarter. According to a report from RealtyTrac Inc., a quarter of all U.S. transactions involved those types of homes - those involving bank-owned real estate, residences in default, or those scheduled for auction. …

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