Items Tagged with 'REO'

ARTICLES

Distressed property sales continue to drop

February REOs lowest since 2007
Distressed sales continue to drop across the U.S. Only nine states did not report a decrease in distressed sales for February, according to CoreLogic. In fact, one state’s distressed sales have decreased 59.8% since the peak in 2009.
Read More

CoreLogic: REO sales drop to lowest level since January 2007

Maryland holds largest percentage of distressed sales
Although the market will always have some level of distressed sales, it will no longer be at the same level witnessed during the financial crisis. If the current annual decrease continues, the market would reach its pre-crisis level of 2% distressed sales by mid-2018.
Read More

Cash sales on homes continue to decline

Account for 36% of all home sales
While the month-over-month share of cash sales increased from October to November 2015, annual shares were down. The largest percentage of cash sales were REO, and the state with the most cash sales was Michigan.
Read More

Share of cash sales fell in October to 34%

Could hit pre-crisis levels in two years
Cash sales accounted for 33.9% of total home sales in the month of October, compared to 36.4% in October 2014, according to CoreLogic. At that rate of decline, cash sales could return to pre-crisis levels by 2018.
Read More

Distressed sales down to just 9% of homes sold

REO sale share now the lowest since September 2007
Distressed sales, which include real estate-owned properties and short sales, accounted for 9.4% of total home sales nationally in July 2015, down 2.1 percentage points from July 2014 and down 0.4 percentage points from June 2015.
Read More

Reminder: Rehab REOs to increase profits

Don't sell property "as is"
Servicing and asset management organizations involved in the mortgage default arena need to look once again at each REO property on an individual case-by-case basis to determine if rehabilitation and/or property improvements are the best marketing strategy for each property.
Read More

Are REOs ready for a comeback?

Clear Capital: Increases in distressed, seasonal changes suggest yes
A new report from Clear Capital suggests that REOs and short sales may be on the rise again, what with the saturation of distressed properties on the rise, plus some other factors. Worried? Getting cash ready? Read on.
Read More