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 »
Tag archives for Reo Sales
Foreclosures Still Prominent Part of the Housing Market
category: Real Estate News
Fannie Mae: Investors Do Not Merit “Priority Consideration”
Along with the announcement that its “First Look” program has generated nearly 35,000 home sales since its inception last year, Fannie Mae VP for Alternative REO Dispositions Jay Ryan took a minute to encourage lenders and banks to make sure to keep investors in check: “While investors play an important role in the REO market, homebuyers who intend to occupy Read full article »
category: Mortgage News, Real Estate News
New Study Could Provide “Playbook” for Foreclosure Investors
According to a new study released by Realty Trac, banks stand to lose significantly less if they can negotiate a short sale on a property than if they repossess and resell the property. In fact, the upper end of the “discount” on the property if sold via short sale is a full 3% lower than the lower end of the Read full article »
category: Real Estate News
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.