Items Tagged with 'REO'

ARTICLES

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.
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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.
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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.
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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.
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Foreclosure activity hits 19-month high on rise in REOs

Starts below pre-crisis levels but auctions, REO activity well above
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high. Here’s why and what it means.
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