In the second quarter (Q2) of 2011, 31 percent of all home sales in the country were a foreclosure sale. And that number would be much larger, say analysts, if it were not for foreclosure delays stemming from the robo-signing fiasco last fall. While this number is significant, some analysts believe that it is not actually the most important figure Read full article »
Tag archives for Foreclosure Sales
Non-Distressed Housing Market is Shrinking
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 »
An Introduction to Bulk REO Investing
Just a few years ago, most real estate investors had never heard of bulk REO investing, and very few investors had the option of participating in this type of investing because the funds needed for it were of such a grand magnitude. Now, however, as a foreclosure “tsunami” threatens to engulf many major lenders, banks are becoming a little more Read full article »
Foreclosures Still Prominent Part of the Housing Market
Although many real estate data services are reporting that homebuyers are feeling skittish about foreclosures, the sale of foreclosure homes still accounts for a quarter of all U.S. residential sales in the third quarter of 2010, meaning that people who did purchase an REO or short sale home were able to get an average discount of more than 32 percent. Read full article »
Bank of America Suspends ALL Foreclosure Sales
BREAKING NEWS - Bank of America, the largest lender in the United States, has just announced that it is halting all foreclosure sales in all 50 states. It's currently investigating flaws in its foreclosure process. BOA announced foreclosure suspension in 23 states last week, as did JP Morgan. Today's announcement extends that suspension to the entire United States. This portends additional nation-wide 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:
-
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.
