According to a newly-released RealtyTrac report, banks are still holding, unlisted, 70 percent of REO properties. That means that of all the REO properties currently on the market, only 300,000 of the estimated million homes that have been repossessed through foreclosure are actually available for sale. The report indicates that not only have foreclosure filings reached a new high in Read full article »
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70 Percent of REO Properties Have Yet to Hit the Market
tags: Bryan Ellis, bryan ellis carol vansickle, bryan ellis carole vansickle, Bryan Ellis Real Estate Letter, carol vansickle, Current Mortgage Rates, Draft, Fannie Mae, fannie mae foreclosures, Foreclosure Market, foreclosure trends, Freddie Mac, freddie mac foreclosures, Landlords, Morgan Stanley, Real Estate Investing, Real Estate Investing News, Real Estate News, Real Estate Trends, Realty Trac, Realtytrac, Rental Property, rental property trends, rental trends, rental vacancy, reo market, reo properties reo trends, reo property trends, Rick Sharga, rick sharga realtytrac, Shadow Inventory, tenants rights
Blockbuster Bankruptcy Spells Trouble for South Florida, Other Areas Around the Country with “Concentrated Closings”
When the movie rental giant, Blockbuster, filed for Chapter 11 bankruptcy, part of the deal including closing four stores in south Florida, along with 134 other stores across the country. In southern Florida, however, retail property could take a huge hit as the empty Blockbuster stores leave gaping holes in malls and strip shopping centers in a concentrated area. A Read full article »
category: Mortgage News
tags: Blockbuster Locations, Blockbuster Stores, Cb Richard Ellis, Chapter 11 Bankruptcy, Commercial Real Estate, Desirable Locations, Downward Pressure, Five Boroughs, Gaping Holes, Interested Tenants, Jeopardy, Landlords, Manhattan New York, Optical Stores, Real Estate Professionals, Rents, Retail Property, Retail Space, Southern Florida, Suburban Neighborhoods
“Foreclosure Realtor” Loving Investors Who Keep the Market Moving
In Savannah, Georgia, 11 community banks hold about $97.5 million in repossessed real estate, and they are keeping local real estate agents who specialize in foreclosure pretty busy. However, while you would probably expect this article to be about how that market is just barely pulling through, in reality the statistics on these REO properties are quite surprising. Contrary to Read full article »
category: Real Estate News
tags: 5 Million, Alternative Methods, Community Banks, Economic Strategy, Foreclosed Homes, Foreclosure Process, Foreclosures, Housing Market, Landlords, Lease Purchase, Local Real Estate, Local Realtors, Media Blitz, Prevalence, Real Estate Agents, Reo Properties, Repossessed Real Estate, Savannah Georgia, Slag, Wholesalers
Wall Street Reform Means that Renters in Foreclosed Homes have 90 Days Grace
Financial reform and consumer protections are the first things that spring to mind when most people think of the Dodd-Frank Wall Street Reform and Consumer Protections Act, but for lenders and other note-holders, start thinking about 90 days grace as well. The bill includes an extension of the Protecting Tenants at Foreclosure Act (PTFA) though the end of 2014. This Read full article »
category: Real Estate News
tags: Act, Consumer Protections, Days Grace, Dodd, Foreclosed Homes, Foreclosure, Good Solution, Grace Period, Income Housing Coalition, Landlord, Landlords, Lenders, Low Income Housing, Mortgage Payments, National Low Income Housing, National Low Income Housing Coalition, Nlihc, Reform Bills, Rent, Wall Street
Tax Breaks for Landlords – Hidden Perks to Owning Rental Property
Note: I am not an accountant or a financial expert. You must consult a certified tax accountant or attorney to determine if and how your rental property can benefit you during tax season. I recently read an article about the tax benefits of owning rental property. The author was a mortgage broker who had interviewed a certified public accountant (CPA) who Read full article »
category: Real Estate Tips
tags: Certified Accountant, Certified Public Accountant, Cpa, Depreciation Deductions, Financial Expert, Gurus, Insurance Maintenance, Landlords, Late Night Phone, Management Company, Media Coverage, Mortgage Broker, Mortgage Interest, Owning Rental Property, Personal Time, Real Estate Taxes, Rental Properties, Tax Accountant, Tax Breaks, Vague Notion
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.