1. Little or No Appreciation as Market Bottoms
In parts of the country hardest hit by 2007 - 2008 foreclosures such as California, Michigan and Florida, prices will continue to soften. In scattered markets, the bottom will already have been reached by April but media won’t report it until late summer, after a trend has [...]
Home buyers who want a good deal in real estate invariably think first about pursuing foreclosures. Buyers have this picture in their mind of a cute little house, surrounded by a white picket fence that is owned by a widowed mom who fell on hard times, but that scenario is generally far from reality.
Why [...]
Buyers pursue short sales to get a good deal. So when you see a price listed for a home that you think is too low for the neighborhood, before you jump on that price like hot fudge on a sundae, ask your agent to call the listing agent to find out if the home is [...]
Foreclosures, short sales and REOs remind me of, "Lions and tigers and bears, oh, my!" The latter are dangerous animals but different from each other — just as foreclosures and short sales and real-estate-owned (REOs) are distressed sales but different from each other.
However, they are also similar because without knowledge about handling foreclosures, [...]
According to RealtyTrac, a whopping one in 54 homes received a foreclosure notice last year. That’s 3.1 million foreclosure filings. Scared yet? An ever-increasing pool of foreclosure rescue scammers are drooling at the prospect of capitalizing off your panic. And so far, they’re doing pretty well. From forgery to title transfer, these scamsters–some of them [...]
The good news is that falling home prices don’t historically keep dropping for a number of years very often. The fall out from the credit crisis is affecting real estate values from coast to coast.
There’s no shortage of markets throughout the country that will sustain double-digit declines in housing vales in 2009 as the credit [...]
One reason why there are so many short sales on the market today is because so many homeowners are under water. This means that a homeowner purchased a home for a price that is higher than what the home is worth now. This means that if the homeowner is behind on their mortgage, they will [...]
Here’s a new item we’ll try to bring you from time to time: Celebrities in Foreclosure. Today, the pride of Thousand Oaks, the Olympic Golden Girl, Marion Jones.
As Lance Pugmire reports in L.A. Times, Marion Jones is down to her last $2,000, and last year a bank foreclosed on her $2.5 million cheateau-style "dream [...]
Ed McMahon, who for decades appeared as Johnny Carson’s sidekick on "The Tonight Show," is fighting to avoid foreclosure on his multimillion-dollar Beverly Hills home, according to published reports.
He was $644,000 behind on payments on $4.8 million in mortgage loans when a unit of Countrywide Financial Corp. filed a default notice Feb. 28 with the [...]
The solution to the current real estate recession is as obvious as the noses on our faces. It is not loaning hundreds of billions of dollars to investment bankers. It is not more regulation of the capital markets. It is not offering new tax credits to home builders and home buyers. It is most certainly [...]