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Definitions for Deal-Seeking Buyers: Short Sales, Foreclosures, and REO Homes

HomeLight

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

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How a transparent marketplace provides a proven path to benefit homeowners

Housing Wire

Walking that thin line is becoming increasingly important as more distressed sales are pushed up-funnel into the pre-foreclosure marketplace — a trend that began developing about 10 years ago and has accelerated in earnest over the last two years.

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Hit Them With Your Best Shot: How Much to Offer on a Short Sale

HomeLight

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.

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Fewer first-time homebuyers are competing these days

Housing Wire

Existing-home sales grew by 2.0% Completed sales transactions for single-family homes, townhomes, condominiums and co-ops, represented a seasonally adjusted annual rate of just under 6 million (5.99 million, so sales grew year-over-year by 1.5%. But first-time homebuyers are still getting squeezed. increase, the report said.

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How to Find Cheap Houses for Sale

Realty Biz

However, this doesn't mean there are no good deals in the real estate market. The best way to start is to understand the market and create a plan. Read on to discover how to find cheap houses for sale. Check MLS Websites MLS platforms have some of the best bargains in the housing market.

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4 Reasons Why the End of Forbearance Will Not Lead to a Wave of Foreclosures

Keeping Current Matters

With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. million households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. 2018: 279,040. 2019: 277,520.

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Here it is: Biden’s first-time homebuyer tax credit legislation

Housing Wire

That qualification doesn’t apply if the borrowers’ parents lost their home in a foreclosure or short sale, or if the borrower has ever been in foster care, however. Another concern is the impact a downpayment assistance program could have on the housing market, which has already seen a surge in home price appreciation.