Eight real estate investors in Alameda and Contra Costa counties in California will face felony charges for bid rigging and mail fraud at public real estate foreclosure auctions. The investors had agreed prior to the auctions not to bid against each other to keep the prices on properties low. Later, they planned to have a private auction in which they Read full article »
Tag archives for Foreclosure Auction
Real Estate Scam of the Day: Bid Rigging in California Counties
Extreme Makeover House Hits Auction Block
The popular television show Extreme Makeover: Home Edition is known for providing families in need with opulent and highly customized homes. And in the past few years, more than a few of those homes have hit the auction blocks as the owners, newly-freed from mortgage obligations as part of the show’s “reward” to them to help them overcome other adversity, Read full article »
Robo-Signer Fallout: Foreclosure Homes May Not Be So Appealing
In Florida, the fallout from the robo-signer debacle last fall is still ongoing, and it is impacting one of the most important aspects of the real estate market today: foreclosures. In South Florida, foreclosure sales fell 11 percent in the first quarter of 2011 from the fourth quarter of 2010, and all indications point to buyers continuing to feel reluctant Read full article »
Las Vegas to Host Largest Commercial Auction in U.S. History
In an auction with “unprecedented volume of distressed real estate,” Nevada’s lenders hope to recoup some of their losses on commercial properties including retail, multifamily, industrial and land parcels located in Las Vegas, Henderson, Carson City, Sparks and Reno. The auction will be held on-site in Las Vegas and simultaneously online May 17 through 19 of this year. “For investors Read full article »
Foreclosure Actions Drop Dramatically in Colorado
While nearly every state in the country has experienced some degree of foreclosure slowdown, Colorado’s year-over-year foreclosure rates are nothing to sneeze at. The volume of foreclosures filed in February of 2011 is a full 34.7 percent lower than that of a year ago, with a tally of 1,986 versus 3,042. Foreclosure sales at auction also fell 10.7 percent from Read full article »
The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
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Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
