May 22, 2009 Carolyn Said, Chronicle Staff Writer
Bay Area home sales delivered a smidgen of good news in April - but it came laden with the caveat that it's too soon to declare a turn-around in the beleaguered real estate market.
While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region inched up 4.2 percent in April compared with March, according to MDA DataQuick, a San Diego research firm. It was the first time since October 2007 that the median rose compared with the previous month.
Full Story
Friday, May 22, 2009
Survey: More buyers interested in foreclosed homes
May 21, 2009
By STEVE BROWN / The Dallas Morning News
With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.
More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.
The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.
Full story
By STEVE BROWN / The Dallas Morning News
With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.
More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.
The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.
Full story
Tuesday, March 31, 2009
Dramatic increase in prime-loan foreclosures
Dramatic increase in prime-loan foreclosures
Workouts not keeping pace
By Inman News, Tuesday, March 31, 2009.
Inman News
Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.
The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.
HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.
The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.
While payment shock for subprime borrowers with adjustable-rate mortgage (ARM) loans was once viewed as a primary driver of delinquencies and foreclosures, delinquency rates on prime fixed-rate and subprime fixed-rate loans continue to climb, thanks to job losses and pay cuts, the Mortgage Bankers Association reported this month (see story).
HOPE NOW loan servicers reported making more than twice as many loan modifications for subprime borrowers in February (91,333) than they did for prime borrowers (42,503). More prime borrowers got repayment plans -- 64,605 were negotiated last month, compared with 46,033 for subprime borrowers.
Not all homes that enter the foreclosure process end up being sold by lenders -- some borrowers are able to refinance their loans, or negotiate short sales or loan workouts with lenders.
The HOPE NOW alliance said it helped 244,000 borrowers avoid foreclosure in February by instituting workouts including loan modifications and repayment plans. ...CONTINUED
Full Story
Workouts not keeping pace
By Inman News, Tuesday, March 31, 2009.
Inman News
Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.
The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.
HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.
The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.
While payment shock for subprime borrowers with adjustable-rate mortgage (ARM) loans was once viewed as a primary driver of delinquencies and foreclosures, delinquency rates on prime fixed-rate and subprime fixed-rate loans continue to climb, thanks to job losses and pay cuts, the Mortgage Bankers Association reported this month (see story).
HOPE NOW loan servicers reported making more than twice as many loan modifications for subprime borrowers in February (91,333) than they did for prime borrowers (42,503). More prime borrowers got repayment plans -- 64,605 were negotiated last month, compared with 46,033 for subprime borrowers.
Not all homes that enter the foreclosure process end up being sold by lenders -- some borrowers are able to refinance their loans, or negotiate short sales or loan workouts with lenders.
The HOPE NOW alliance said it helped 244,000 borrowers avoid foreclosure in February by instituting workouts including loan modifications and repayment plans. ...CONTINUED
Full Story
Tuesday, October 28, 2008
Texas REO | Bank foreclosure
TEXAS REO BANK FORECLOSURES: A "Real Estate Owned" Home (REO Home) is a Bank Foreclosure. REO homes are homes that have gone through foreclosure and are now owned by the bank. Due to the recent housing bubble, Bank Owned REOs are more prevelant than ever. The time to get a good deal on foreclosure real estate is now.
REO Homes
REO Homes
Investing in Foreclosures
If I sell, how can I add value? One of the best ways to realize a profit is to add value to the existing property. There are a myriad of ways to add value to a property, with the most important being improvements to the bathroom(s) and kitchen. It's also a good idea to stage a home for selling, and to pay special attention to the curb appeal of the home since it is the first impression a home buyer will have of the property.
Denton Foreclosed Homes
Denton Foreclosed Homes
Woman buys foreclosed home for a stranger
DALLAS — Two strangers were brought together by a leap of faith and one piece of property that was among 200 North Texas homes up for auction at the Dallas Convention Center this weekend.
While the misfortune of others lured hundreds of bargain hunters to the foreclosure auction, "Tracy" said she came to find closure. The woman took her seat among a sea of investors and strangers to say goodbye to her Pottsboro home, which is located just west of Denison.
"It means so much to all of us," she said of the rural residence that she lost to foreclosure. "It's not just a house."
At the fast-paced and energetic event, Tracy's tears did not go unnoticed.
"She was crying and I asked her what she was upset about," said Marilyn Mock, of Rockwall.
When Tracy's home, listed as "No. 73," came up for auction, Mock raised her hand and bid. With no picture of the property in the auction book, Mock had only Tracy's word on the home's value.
"I just kept asking her, 'Is it worth it?' She said, 'Yes,' and then it went again," Mock said.
Bid after bid, Mock kept raising her hand.
"The next thing you know, she tells me she is doing this for me — and then she had it," Tracy said.
Full Story News 8
While the misfortune of others lured hundreds of bargain hunters to the foreclosure auction, "Tracy" said she came to find closure. The woman took her seat among a sea of investors and strangers to say goodbye to her Pottsboro home, which is located just west of Denison.
"It means so much to all of us," she said of the rural residence that she lost to foreclosure. "It's not just a house."
At the fast-paced and energetic event, Tracy's tears did not go unnoticed.
"She was crying and I asked her what she was upset about," said Marilyn Mock, of Rockwall.
When Tracy's home, listed as "No. 73," came up for auction, Mock raised her hand and bid. With no picture of the property in the auction book, Mock had only Tracy's word on the home's value.
"I just kept asking her, 'Is it worth it?' She said, 'Yes,' and then it went again," Mock said.
Bid after bid, Mock kept raising her hand.
"The next thing you know, she tells me she is doing this for me — and then she had it," Tracy said.
Full Story News 8
Dallas HUD Homes
A real estate broker must be registered with HUD to make an offer and contract on HUD owned real estate. The real estate commission is paid by HUD. Certain groups are able to get special rates for buying HUD homes, including police officers, teachers and firefighters through the Good Neighbor Initiatives.
* HUD Homes are sold AS IS, without written warranty.
* Some HUD Homes qualify for FHA Loans.
* Once your offer is accepted, you should get a home inspection.
Dallas County HUD Homes
* HUD Homes are sold AS IS, without written warranty.
* Some HUD Homes qualify for FHA Loans.
* Once your offer is accepted, you should get a home inspection.
Dallas County HUD Homes
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