A transparent foreclosure marketplace reveals hidden equity

Housing Wire

billion in potential home equity has been uncovered for distressed homeowners facing foreclosure. billion is the amount of surplus funds generated by foreclosure sales on the Auction.com platform between 2016 and 2020. 36,000 Surplus per Sale. Finding Nonexistent Equity.

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Buying a Short Sale Property? Your Guide to Short Sale Requirements for Buyers

HomeLight

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck.

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13 Short Sale Tips So You Get a Dream Deal, Not a Nightmare Scenario

HomeLight

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well.

Short Sale Closing Costs: What Buyers Should Know

HomeLight

Unexpected setbacks and misfortunes happen, whether that stems from a dramatic housing market downturn, getting laid off, or any other wrenches that life (or a worldwide pandemic) throws into your plans. Short sales operate according to the lender’s approval, requirements, and timeline.

What Is A Short Sale and Is It A Good Idea As A Buyer?

HomeLight

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. How do short sales work? Short sales do however present some advantages for lenders. Find an agent with short sale experience.

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. Most of the 1.86M in forbearance have enough equity to sell their home.

Ask Brian: What Should I Do When Selling My Home with Little Equity?

Realty Biz

What are my options when I have little or no equity? Gil, the better term for what you are referring to is “under-equitied” meaning having less than 20% home equity. This is the first step that many house sellers take when they are ready to list the house for sale.

The Rent vs. Sell Debate: Are You Landlord Material, or Should You Cash Out?

HomeLight

But selling too soon can be just as risky, causing you to forfeit sizable equity in a fast-appreciating property. 2020 hasn’t done many favors for the economy as a whole, but the housing market has remained surprisingly strong through it all — and that includes rentals.

8 Tips for Selling a Rental Property: Navigating Taxes and Tenants

HomeLight

Shortly after, a pandemic-driven housing market boom encouraged him to unload an additional two rentals while prices were hot. “My When you go to sell a house you’ve used as your main residence, the upside you make from that sale is usually tax-free.

How online auctions deliver on the promise of pre-foreclosure sales

Housing Wire

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales.

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What Is Buying a Foreclosure Really Like? 5 Homeowners Spill the Tea

HomeLight

She was drawn to foreclosures because, “For me, having a house that has equity has always been important. Many homebuyers like buying and knowing that they have immediate equity, above and beyond the down payment, in the house. Why might you be interested in buying a foreclosure?

Buying a Foreclosure at a Home Auction? Here’s How Much You’ll Probably Spend

HomeLight

One important factor in how much a house will go for at a foreclosure auction is its appraised value — the professional estimate of its worth in the current market. Knowing the ins and outs of the market you’re hoping to buy in will help you estimate a potential auction price.

Building a Guest House 101: Get Your Accessory Dwelling Unit Up and Running

HomeLight

In response to Airbnb and VRBO, many cities are placing restrictions on short-term rentals to prevent local housing from morphing into hotels. Minimum short-term rental lengths. Maximum days use as a short-term rental per year.

Is a Housing Market Crash Possible in 2021?

RIS Media

With the real estate market experiencing surging prices, scant inventories and a backlog of new home construction, many consumers are wondering if what’s gone up must come back down—in other words, are we headed for another housing market crash? Housing Market Crash.

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13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. If the homeowner fails to catch up on their payments by the auction date, the home is auctioned for sale.

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

Housing Wire

On Wednesday, lawmakers published a draft version of the legislation, the “Downpayment Toward Equity Act of 2021,” ahead of a hearing held by the U.S. It would be a very small market,” said Stevens. “No

Pandemic may lead to foreclosure crisis, CoreLogic says

Housing Wire

Not only could millions of families potentially lose their home, through a short sale or foreclosure, but this also could create downward pressure on home prices – and consequently home equity – as distressed sales are pushed back into the for-sale market,” the report said.

U.S. Housing Market Will Withstand a Wave of Foreclosures When Forbearance Ends

Redfin

American homeowners have gained $2 trillion dollars in home equity since the beginning of the pandemic alone, thanks to double-digit price growth driven by soaring homebuyer demand as the supply of homes for sale fell to historic lows. Median Sale Price YoY Growth.

Seller’s vs. Buyer’s Market: A Seller’s Guide to Decoding Market Conditions

HomeLight

From cocktail parties to backyard barbecues, it seems like everyone around you is talking about how hot the real estate market is. So does that mean you’re in a buyer’s market or a seller’s market? Like stock prices, the real estate market fluctuates.

How can servicers best help borrowers as they exit forbearance?

Housing Wire

This will be especially true for lower-income households with FHA loans that started with very little equity to begin with due to the low-down payment requirement.

6 Simple Graphs Proving This Is Nothing Like Last Time

Keeping Current Matters

Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Home sales and prices were both up substantially over the year before. percent from 2001 to 2003 for the whole mortgage market.”.

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Why Today’s Options Will Save Homeowners from Foreclosure

Keeping Current Matters

During the housing crash twelve years ago, many homeowners owned a house that was worth less than the mortgage they had on that home (called negative equity or being underwater ). Today, the vast majority of homeowners have significant equity in their homes.

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For the first time in a year, forbearances dip below 4%

Housing Wire

“The improving job market and strong housing market are providing support for those who do exit.”. For others, it should be adequate for properly selling through traditional real estate channels to avoid a default or short sale.

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Can You Get a Comparative Market Analysis For Free, No Strings Attached?

HomeLight

Or perhaps you’re curious whether you should put it on the market sooner. A real estate agent performs a comparative market analysis, or CMA , before your home hits the market to help arrive at a decent asking price. But how much does a comparative market analysis cost?

The FIRE Take on Wall St Bets, GameStop, and Meme Stonks

Afford Anything

They’re placing margin bets on GameStop, triggering a short squeeze, and riding it to the moon. They treat the stock market like a casino; they feed off tales of survivorship bias. They blocked us from the markets. This is a move that drives markets.

Will There Be a Wave of Foreclosures In 2021 for Southern California?

First Team Real Estate

Many fear that we will see a repeat of 2008 with a market crash and a huge wave of foreclosures. With the moratorium on home foreclosures, distressed sales have dipped to their lowest levels ever, making up less than half a percent of the listing inventory and demand in Southern California.

Will the Current Boom Housing Market Crash Dive or Crash Land?

Realty Biz

A billionaire who made his fortune shorting subprime mortgages is saying the current housing market is an even bigger bubble than before the Great Recession set in. Jeff Greene told CNBC he sees the housing market in the U.S.

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I Need to Sell My House Fast, What Are My Options?

HomeLight

Even in today’s hot seller’s market where homes attract offers in as few as 16 days , it takes around 2-plus months to sell a house from list to close. And that doesn’t account for the weeks needed to clean, paint, and tidy up the property for its market debut. FSBO (For Sale By Owner).

8 Signs That a Housing Recession Is Looming (And What to Do)

HomeLight

Although several experts predicted that the next housing recession would take place in 2020 , with the benefit of hindsight, we know that 2020 was a hot seller’s market across the United States. Less properties, less sales. Housing-specific recession sign #7: Home equity is stretched.

November real estate news

Easy Agent Pro

Depending on where your real estate market falls on the list is either brilliant marketing fodder or something to ignore. If you’ve been in the real estate industry for some time, you no doubt recall the Great Recession, when the housing market went sideways. Overnight, real estate agents became “short sale experts” during a time when few even knew what the term meant. He expects the frenzy to remain in the market “… into 2021, at least.”.

Pros and Cons to Weigh When You Sell a House Before a Recession

HomeLight

But, as tough as this year has been, the real estate market has prevailed. HomeLight’s Q3 2020 survey reveals that 92% of surveyed real estate agents say they are experiencing a strong seller’s market, and they feel it’s going to stay that way for a while.

Can You Sell a Home in Foreclosure? Why Time Is of the Essence

HomeLight

From there, it can be two to three months to the scheduled sale of your property if you take no action to square up with the mortgage company, HUD’s guidelines note. Don’t let any stigma keep you from making wise financial decisions about the sale of your home.

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Buyers: Here’s Your Negotiation Strategy for When the Appraisal on a House Comes in Low

HomeLight

There are many reasons why the appraisal can come in low; one cause may be a shifting market. “It’s It’s good to understand the market of the moment,” says Madison-based real estate agent Lynn Holley , who works with 72% more single-family homes than the average agent in Madison.

Crossing the Divide

The Residential Specialist

For example, if spouse A’s new boyfriend moves into the house while it’s on the market, it may be of significant interest to spouse B. But it’s not material to the sale and probably should not be disclosed. Thompson compares the toughness of divorce listings to short sales.

CoreLogic Reports Serious Delinquencies Spike in June as Financial Pressures Build for Homeowners

RIS Media

To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency , including the share that transition from current to 30 days past due. percent—as the labor market has improved since the early days of the pandemic.