Articles
Now is the Time to Seek Out Great Deals on Foreclosed Homes
Buying a Foreclosed Home can be a real bargain, but being aware is the first step to making your purchase profitable!
Right now in 2010, there are hundreds of thousands of foreclosed houses flooding the home resale market. One of the best reasons for buying foreclosed homes is to take advantage of low prices, and to [...]
Since when is buying a home a moral responsibility?
When I first heard about home owners purposely defaulting on their mortgages, I had mixed feelings. That’s because I kept hearing words like, “moral obligation.” Then, I started thinking about how corporations default on loans, because it’s in the best interest of the company and the shareholders. And then I thought about how the government [...]
Read Article ›Real Estate Valuation Methods
In a previous blog entry, we talked about the Broker Price Opinion. In this post, we cover three common methods for valuating real estate properties.
The Cost Method – In this case, the value of the property is estimated by adding the price of the land to the construction, material, labor, and any other costs you’d [...]
Fannie Mae Incentives to Purchase REO Listings
Fannie Mae is now giving buyers who purchase their HomePath® properties, which are really just their REO properties, in an attempt to sell them more quickly. The company is giving buyers up to 3.5% of the final sales price toward closing costs, new Whirlpool® appliances, or both. To qualify for the incentive, buyers must use [...]
Read Article ›Top 4 Reasons to Buy a Foreclosure or REO Home Now
1. Value – Real Estate Owned (REO) homes are usually priced lower than the original loan amount, because they exclude expenses such as attorney fees and interest. Also, lenders generally remove all second and third liens on the property, delinquent taxes, HOA fees, mechanics’ liens, etc. Since banks and other lenders are not in the [...]
Read Article ›7 Important Tips for Buying Bank-Owned Properties
Whether you’ve been saving up to purchase a primary residence, or you’ve been kicking around the idea of purchasing a second home (like a vacation home, or rental/investment property), you may want to take a look at some of the bank-owned properties on the market.
There are many advantages to buying bank-owned properties – also known [...]
What’s the difference between foreclosure homes and Real Estate Owned (REO) homes?
Simply put, a home goes into foreclosure when the home owner can’t pay the mortgage lender back for the home loan. When this happens, the lender attempts to sell the home in a foreclosure auction.
During the auction, the minimum bid must include the amount of the outstanding loan, the accrued interest, attorney fees, and any [...]
REO Homes – Great for College Students and Apartment Dwellers
REO and Foreclosures make great homes for college students, apartment dwellers and first time home buyers
Read Article ›Is The Housing Market Healing?
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It seems like it has been a very long time since we heard any good news about the housing market. For years, the real estate market has been suffering and homeowners have been suffering along with it. However, we’re finally starting to see a glimmer of hope on the horizon. There are indications [...]
Read Article ›A Worthy Surplus: Buy an REO and Use the Rest of Your Funds for Remodeling
There is no doubt that it’s a buyer’s market. With the real estate industry still burst and the general economy still in the grips of a nerve-racking recession, there are tons of properties on the market and a limited number of people in a position to buy. This means if you’ve got the capital of [...]
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