‘Foreclosure’ Category

Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure

Posted on: March 09, 2012

Could we possibly see the short sale process speed up? If Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) get their way, that just might happen.  The bill, known as the Prompt Notification of Short Sale Act, addresses the issue of short sales timelines and was proposed on February 17.  A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance with the lender’s approval. The bill will require ... (Read more)

REO sales may not peak until 2013

Posted on: October 21, 2011

According to an article by Jon Prior, the sale of properties repossessed through foreclosure may not peak until 2013. Nearly half of the more than 552,000 REO properties liquidated in the first half of 2011 were held by private banks. In the years ahead, the government — including the Department of Housing and Urban Development, Fannie Mae and Freddie Mac — will begin taking a majority of the activity. In 2013, REO sales could reach 1.48 million properties, according ... (Read more)

First Time Homebuyer Series – Part 5A: Foreclosures

Posted on: February 23, 2011

In today's real estate market, everyone wants to know about foreclosures. These are the most common distressed properties, and they are usually associated with "getting a good deal". Distressed sales now make up a sizable chunk of the market, so it makes sense to be educated on these properties.When you hear someone say they bought a foreclosure, what they likely mean is that they bought a bank owned property. Foreclosure is the process in which the bank ... (Read more)

Property Owners Overcharged

Posted on: February 18, 2010

A report to be released today commissioned by the Atlanta Neighborhood Development Partnership will release information that supports the findings of an AJC investigation that was published in a series of articles in December. The findings confirm the report that tens of thousands of homes were overvalued last year by county tax assessors. This report aims to take an educated guess as to by how much homeowners overpaid in the 5 major metro counties. The report goes on to say ... (Read more)

10 Offers on 1 Foreclosure

Posted on: November 18, 2009

Being a Realtor, the thing I hear constantly from prospective buyers is "I want to look at foreclosures." Everybody seems to be looking for that foreclosed home that is at the perfect price and needs next to no updates to be a great, move-in ready home. Buying this home is easier said than done. People sometimes fail to realize that: 1) This home isn't always easy to find and 2) buying a foreclosure is more involved than buying a move-in ... (Read more)