Finding a Foreclosure Deal

Foreclosure Sales

Homes in some stage of foreclosure accounted for a large portion of South Florida home sales in the third quarter of 2010. According to Realty Track 42% of home sales were in some stage of foreclosure. Rougly 31% of home sales in Palm Beach county were foreclosure related. Nationally 25% of home sales are foreclosure related. Foreclosure sales are expected to decline in the forth quarter of 2010 due to the moratoriums that pulled many of those properties off the market in October.

Foreclosure Listings

Here is a simple foreclosure investment rule of thumb. There are usually two types of borrowers checking the foreclosure pages.

  Example #1.)  Smart Home Buyers who want to find a deal on their own. I will help with a great deal on the Home loan

  Example #2.) Real Estate Investors who are looking for a bargain that they can fix up and sell. (or rent)

I would be happy to talk to both of you and here's why.

First Time Home Buyers are getting a great deal right now. Existing Homeowners are getting a great deal right now. As long as you get the new home purchase under contract by April 30, 2010, you will qualify for either one of the Home Buyer Tax Credits.

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Investors, once you are done buying and fixing up the place, I would be delighted to help you get your buyer qualified.

Please see my foreclosure search engine to the right and below.

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 Palm Beach Customers: Please Visit Marc Jablon at his other home pages

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Written by Marc Jablon, Realty Associates
marcjablon@yahoo.com / 561 / 213 – 6139
www.JablonRealEstate.com
Exclusive to Huliq.com

http://www.huliq.com/1/87746/buying-foreclosures-makes-lots-sense

Lenders recovered almost 60 percent of the loan value for properties that were foreclosed in 2009, according to an analysis by Real Capital Analytics.

In a report released Thursday, the New York firm said lenders recovered $1.9 billion on 145 defaulted commercial mortgages totaling $3.2 billion.

In an indication that more is yet to come, Dan Fasulo, managing director for Real Capital, said in an e-mail, “For the entire U.S. we have only been able to track 145 recovery rates — that’s how little of the distress has been cleaned up until now.”

How much a lender was able to recover in a foreclosure depended on location, type of asset and, most of all, the purpose of the loan.

The best recovery rates occurred in the West and Northwest, where rates for acquisition and refinancing loans were 76 percent and 78 percent respectively. The Los Angeles metro area tops the list of Real Capital’s 11 regions with a 70-plus percent recovery rate. Detroit and Tampa are at the bottom with a recovery rate of 45 percent.

Mortgages on retail properties have the highest recovery rates, but Real Capital said the sector has had few resolutions compared with the “huge amount” of properties in default.

http://albuquerque.bizjournals.com/albuquerque/stories/2009/10/12/daily67.html

Katherine Conrad of the San Francisco Business Times, an affiliated publication, compiled this report.

 

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