Home Appraisals: How Appraisers Are Threatening Real Estate's Recovery - Realty Check with Diana Olick - CNBC.com
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Monday, July 27, 2009
Tuesday, July 21, 2009
Has California Real Estate hit Bottom Yet?
This is the question that seems to be on a lot of peoples minds these days... Has California Real Estate hit bottom or does it still have room to go down? Should I get back into the market or stay on the sidelines?
I think it is imporant to take a look at many factors when considering this point. I wanted to highlight some data to hopefully shed some light on this issue. I'm not going to give you typical always positive Realtor data that was cherry picked, but yet take into consideration a lot of wide factors affecting Real Estate today.
#1 Sales statistics
According to Dataquick: Estimated 44,167 new and resale houses and condos were sold statewide last month. That was up 13.1 percent from 39,051 in May, and up 25.5 percent from 35,202 for June 2008. Sales have been increasing for the last 12 month period on a regular basis. Sales volumes are up which is a good thing and signs that buyers are coming back into the market, especially at certain price ranges. I have been noticing through my own experiences that homes in the upper end or really even over 500,000 seem to be slow moving. However, homes in the 400,000 or under price range, homes are selling quickly in many cases, many homes receiving multiple offers in some cases, and even some getting into bidding wars on a regular occassion.
#2 Foreclosure Data
According to Foreclosure Radar: California Saw Notice of Defaults rise 11.8% to the second highest level on record at 45,691 filings. Year over year filings increased by 10% from June of 2008. As long as these numbers of foreclosures stay high or close to historic levels, there is going to be continued downward pressure on prices for the foreseable future.
#3 Median Home prices
According to Dataquick: The median price paid for a home last month was $246,000, up 7.0 percent from $230,000 in May, and down 25.0 percent from $328,000 for June a year ago. I think the fact the the median home prices are starting to balance out or even rise a bit is a good sign of stabilization, but not sure if it will hold short to medium term due to the overwhelming delay of foreclosures coming down the pipe. However, if we are not at a bottom at the lower range of homes, I think we are certainly close for certain areas of the state.
#4 Lack of Supply on the Market
Ask other Realtors in the area and you will probably here many of the same things like: "I have clients that we have written 5 offers on 5 different properties with no luck." "There are multiple offers on most of these properties in the 400,000 and under price ranges." The problem is the Foreclosure Moratorium that was implemented by California along with the slew of Federal protection laws which were all introduced to give extra time for the banks to help struggling home owners. A good concept, but ultimately delaying the inevitable for many homeowners unfortunately. 90% of properties currently scheduled for the Foreclosure sale are being delayed or cancelled to a date in the future currently.
We have also noticed that there is almost a "shadow inventory" out there from banks that have taken back properties at the foreclosure sales. These are known as REO's and many times banks want to sell these quickly. However, we have noticed many that banks have been holding for many months after taken them back that they aren't listing at all, they are just holding. They will sell these eventually but they are pinching the inventory right now for some reason, its almost market minipulation in my opinion with a lot of the things that are going on. There are literally tens of thousands of properties that will be coming onto the market in California sometime in the near future when the banks finally start taking their losses and cutting these properties loose. This will help with the supply issue that many are facing now, but will probably cause additional downward pressure on certain price points.
#5 Unemployment Rate
California's Unemployment Rate continues to rise. The most current month of June shows California's unemployment rate rise to 11.6% According to the Bureau of Labor statistics. This is the 6th highest rate in the nation. As this continues to rise or stay high, this will put added pressure on home prices for the foreseable future. It also takes many people out of the market for a new home that could have maybe bought had they still been employed.
#6 Ability to Get Financing
Ability to get financing remains very tough and programs are changing on a daily basis. Historic low interest rates have also started to creep upwards in the last few weeks. According to many Mortgage professionals I speak to on a regular basis all the new guidelines are making it tougher to get loans, not easier. So for the time being its back to the basics. Have a good job, Good credit, have a good down payment, and you will probably get a loan, anything short of that will be tough.
So what does this all mean? I think it means opportunity for certain price ranges (primarily the lower end prices) and areas and extreme caution for certain areas and higher price ranges. For more information click here.
Time will tell what happens but I think looking at a broad range of numbers certainly helps.
To learn more about Pre-Foreclosures, Foreclosures, REO's, and Auctions properties in California please visit us at http://www.fourseasrealty.com/.
I think it is imporant to take a look at many factors when considering this point. I wanted to highlight some data to hopefully shed some light on this issue. I'm not going to give you typical always positive Realtor data that was cherry picked, but yet take into consideration a lot of wide factors affecting Real Estate today.
#1 Sales statistics
According to Dataquick: Estimated 44,167 new and resale houses and condos were sold statewide last month. That was up 13.1 percent from 39,051 in May, and up 25.5 percent from 35,202 for June 2008. Sales have been increasing for the last 12 month period on a regular basis. Sales volumes are up which is a good thing and signs that buyers are coming back into the market, especially at certain price ranges. I have been noticing through my own experiences that homes in the upper end or really even over 500,000 seem to be slow moving. However, homes in the 400,000 or under price range, homes are selling quickly in many cases, many homes receiving multiple offers in some cases, and even some getting into bidding wars on a regular occassion.
#2 Foreclosure Data
According to Foreclosure Radar: California Saw Notice of Defaults rise 11.8% to the second highest level on record at 45,691 filings. Year over year filings increased by 10% from June of 2008. As long as these numbers of foreclosures stay high or close to historic levels, there is going to be continued downward pressure on prices for the foreseable future.
#3 Median Home prices
According to Dataquick: The median price paid for a home last month was $246,000, up 7.0 percent from $230,000 in May, and down 25.0 percent from $328,000 for June a year ago. I think the fact the the median home prices are starting to balance out or even rise a bit is a good sign of stabilization, but not sure if it will hold short to medium term due to the overwhelming delay of foreclosures coming down the pipe. However, if we are not at a bottom at the lower range of homes, I think we are certainly close for certain areas of the state.
#4 Lack of Supply on the Market
Ask other Realtors in the area and you will probably here many of the same things like: "I have clients that we have written 5 offers on 5 different properties with no luck." "There are multiple offers on most of these properties in the 400,000 and under price ranges." The problem is the Foreclosure Moratorium that was implemented by California along with the slew of Federal protection laws which were all introduced to give extra time for the banks to help struggling home owners. A good concept, but ultimately delaying the inevitable for many homeowners unfortunately. 90% of properties currently scheduled for the Foreclosure sale are being delayed or cancelled to a date in the future currently.
We have also noticed that there is almost a "shadow inventory" out there from banks that have taken back properties at the foreclosure sales. These are known as REO's and many times banks want to sell these quickly. However, we have noticed many that banks have been holding for many months after taken them back that they aren't listing at all, they are just holding. They will sell these eventually but they are pinching the inventory right now for some reason, its almost market minipulation in my opinion with a lot of the things that are going on. There are literally tens of thousands of properties that will be coming onto the market in California sometime in the near future when the banks finally start taking their losses and cutting these properties loose. This will help with the supply issue that many are facing now, but will probably cause additional downward pressure on certain price points.
#5 Unemployment Rate
California's Unemployment Rate continues to rise. The most current month of June shows California's unemployment rate rise to 11.6% According to the Bureau of Labor statistics. This is the 6th highest rate in the nation. As this continues to rise or stay high, this will put added pressure on home prices for the foreseable future. It also takes many people out of the market for a new home that could have maybe bought had they still been employed.
#6 Ability to Get Financing
Ability to get financing remains very tough and programs are changing on a daily basis. Historic low interest rates have also started to creep upwards in the last few weeks. According to many Mortgage professionals I speak to on a regular basis all the new guidelines are making it tougher to get loans, not easier. So for the time being its back to the basics. Have a good job, Good credit, have a good down payment, and you will probably get a loan, anything short of that will be tough.
So what does this all mean? I think it means opportunity for certain price ranges (primarily the lower end prices) and areas and extreme caution for certain areas and higher price ranges. For more information click here.
Time will tell what happens but I think looking at a broad range of numbers certainly helps.
To learn more about Pre-Foreclosures, Foreclosures, REO's, and Auctions properties in California please visit us at http://www.fourseasrealty.com/.
Monday, July 20, 2009
San Diego California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale
Hello and Welcome to San Diego California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in San Diego and actually search all Pre-Foreclosures in San Diego for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In San Diego and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in San Diego and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in San Diego and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in San Diego click here.
We also attend the Foreclosure Auctions for San Diego on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.We Look forward to hearing from you!The latest data and sales statistics were provided by Foreclosure Radar.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in San Diego and actually search all Pre-Foreclosures in San Diego for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In San Diego and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in San Diego and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in San Diego and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in San Diego click here.
We also attend the Foreclosure Auctions for San Diego on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.We Look forward to hearing from you!The latest data and sales statistics were provided by Foreclosure Radar.
Carlsbad California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale
Hello and Welcome to Carlsbad California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009.
If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Carlsbad and actually search all Pre-Foreclosures in Carlsbad for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Carlsbad and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Carlsbad and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Carlsbad and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Carlsbad click here.
We also attend the Foreclosure Auctions for Carlsbad on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Encinitas California California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes For Sale
Hello and Welcome to Encinitas California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.Understanding the process is the key, and here is how the process goes as an overview:Pre-Foreclosure (Also known as Notice of Default).
Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Encinitas and actually search all Pre-Foreclosures in Encinitas for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Encinitas and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Encinitas and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Encinitas and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Encinitas click here.
We also attend the Foreclosure Auctions for Encinitas on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.Understanding the process is the key, and here is how the process goes as an overview:Pre-Foreclosure (Also known as Notice of Default).
Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Encinitas and actually search all Pre-Foreclosures in Encinitas for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Encinitas and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Encinitas and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Encinitas and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Encinitas click here.
We also attend the Foreclosure Auctions for Encinitas on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Vista California Free Foreclosure Auction Search, Bank Owned REO, short Sales, and Homes for Sale
Hello and Welcome to Vista California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Vista and actually search all Pre-Foreclosures in Vista for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Vista and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Vista and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Vista and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Vista click here.
We also attend the Foreclosure Auctions for Vista on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Escondido California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
Hello and Welcome to Escondido California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Escondido and actually search all Pre-Foreclosures in Escondido for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Escondido and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Escondido and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Escondido and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Escondido click here.
We also attend the Foreclosure Auctions for Escondido on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Escondido and actually search all Pre-Foreclosures in Escondido for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Escondido and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Escondido and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Escondido and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Escondido click here.
We also attend the Foreclosure Auctions for Escondido on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Oceanside California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale
Hello and Welcome to Oceanside California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Oceanside and actually search all Pre-Foreclosures in Oceanside for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Oceanside and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Oceanside and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Oceanside and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Oceanside click here.
We also attend the Foreclosure Auctions for Oceanside on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
San Marcos California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
Hello and Welcome to San Marcos California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in San Marcos and actually search all Pre-Foreclosures in San Marcos for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In San Marcos and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in San Marcos and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in San Marcos and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in San Marcos click here.
We also attend the Foreclosure Auctions for San Marcos on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Rancho Bernardo California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale
Hello and Welcome to Rancho Bernardo California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.
Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Rancho Bernardo and actually search all Pre-Foreclosures in Rancho Bernardo for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Rancho Bernardo and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Rancho Bernardo and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Rancho Bernardo and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Rancho Bernardo click here.
We also attend the Foreclosure Auctions for Rancho Bernardo on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Poway California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Home for Sale.
Hello and Welcome to Poway California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.
Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Poway and actually search all Pre-Foreclosures in Poway for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Poway and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Poway and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Poway and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Poway click here.
We also attend the Foreclosure Auctions for Poway on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
Del Mar California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
Hello and Welcome to Del Mar California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale.
July 20th, 2009
July 20th, 2009
Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone. We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.
Here are some of the latest statistics from Foreclosure Radar hot off the press for June 2009. If you are unfamiliar with some of the following terms please read below for further explanations.
Notice of Defaults for California rose by 11.8% to the second highest level on record at 45,691 filings.
Notice of Trustee Sale dropped by a suprising 28.9% from May to 29,853 filings.
A total of 22,291 foreclosures were taken to Sale at auction, representing a loan value of 9.57 billion dollars; a 24.7 percent increase from the prior month.
The opening bids set by lenders were an average of 39.3 percent lower than the loan balance, with 46% of sales being discounted of 50% or more.
Sales to third party bidders at auction in June increased by 18.3 percent from May, to 2,687 foreclosures.
The new foreclosure moratorium law however is causing 90 percent of the properties scheduled for auction to be delayed or cancelled to some date in the future.
In the month of June San Diego had 3,681 Notice of Default Filings, 2,270 Notice of Sale filings, and 1,626 sales.
Understanding the process is the key, and here is how the process goes as an overview:
Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. Under the new California Foreclosure moratorium lenders have an extra 90 days in which they are supposed to aggresively pursue loan modifications with those current home owners who qualify., The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in Del Mar and actually search all Pre-Foreclosures in Del Mar for free click here.
Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In Del Mar and Search upcoming properties scheduled for Foreclosure click here.
Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in Del Mar and search all available inventory click here.
Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in Del Mar and search available inventory click here.
Ultimately, the decision is yours and the decision should be based on what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Del Mar click here.
We also attend the Foreclosure Auctions for Del Mar on a weekly basis and track virtually every Foreclosure property in San Diego and would be happy to talk with you about your needs further.
We Look forward to hearing from you!
The latest data and sales statistics were provided by Foreclosure Radar.
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