The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. Lets begin!

Short sale

Realty Biz

JANUARY 1, 2021

Short Sales . A short sale occurs when a homeowner puts the house up for sale at a smaller price than is owed on the mortgage. In most short sales the property is currently worth less than the borrower owes on the mortgage which is referred to as being underwater. Government-Owned Properties .

Short sale

Marco Santarelli

MARCH 15, 2021

Philadelphia is a hot seller's real estate market by all housing indicators. Low-interest rates, tight supply, and high buyer-demand will keep the market hot and exert even more upward pull on house prices. PHILADELPHIA HOUSING MARKET TRENDS 2021. PHILADEPHIA IS A SELLER’S REAL ESTATE MARKET.

Marketing

HomeLight

JUNE 30, 2024

By using foreclosure websites, potential homebuyers and investors can find properties often priced below market value. These sites typically offer detailed information about each property, including price, location, photos, and contact details for the seller or the agency handling the sale. Inventory on the BofA site is limited.

Short sale

Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. Pre-foreclosures are commonly confused with the foreclosure process and REOs (real estate owned by a lender). Buying Pre-foreclosures as Short Sales.

Purchase and sale agreement

HomeLight

MAY 17, 2022

Generally, lenders will take much less than top dollar for a foreclosure, which is good news for anyone looking to score a deal on real estate. I mean, it takes probably, at the minimum, three to four months to get a short sale through.”. Real-estate owned (REO) homes. But it takes literally months.

Inspection

Real Trends

NOVEMBER 3, 2022

Casting a wide net in real estate can be a smart strategy. However, in a tight housing market, going broad means stiff competition with everyone vying for the same customers. Niche markets, on the other hand, may not be as competitive, especially if you’re targeting a niche in your specific region. .

Short sale

HomeLight

SEPTEMBER 1, 2020

But then, it went into foreclosure and didn’t sell at auction, so now it’s listed as an REO, or real estate-owned property. Even experienced homebuyers who’ve already bought and sold a few homes will find the process much different, and they will also need an agent who specializes in REO sales. What’s an REO home?

Banks

HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? REOs for short, these kinds of sales expose buyers to a lot of potential risk. But they also provide a lot of opportunity for big return on investment, too — much bigger, and faster, than you might expect with many traditional sales.

Banks

Real Trends

JULY 3, 2023

Salvador: Well with some of the challenges like the market downturns, we reinvented some of our business model to take care of some of the folks that were in the situation where they had to look at short sales or pre-foreclosures. We don’t just talk about the market, but about what is going on in our lives and in town.

Agents

Real Trends

JANUARY 25, 2023

After a record-setting year in 2021, when homes sold within hours of being listed, the market cooled drastically in 2022 as mortgage rates rose. It can be difficult to predict what’s next in real estate, but one of the best ways real estate agents can protect themselves from dramatic fluctuations in the market is to find a niche.

Homeowner’s association

HomeLight

FEBRUARY 4, 2022

Here’s a riddle for you: What do government websites, real estate agents, and a drive around the block have in common? Real estate owned, or REO, homes are a result of the foreclosure process , which varies from state to state. They’re all great ways to find REO homes in your area. What is an REO home?

Agents

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. 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. What’s a bank-owned foreclosure?

Banks

HomeLight

SEPTEMBER 30, 2021

REO owned: If the home doesn’t sell at auction, it becomes real-estate owned, meaning the bank or lender owns it. Finally, a third way to buy a foreclosure is through a real-estate owned, or REO, listing. In a hot market, good deals are hard to come by. REO listings.

Banks

Easy Agent Pro

DECEMBER 29, 2020

Position yourself to be the one person in your market they can turn to – Here’s how to get foreclosure listings. As in all things real estate-related, location is paramount when deciding whether to spend your limited and valuable time on how to get foreclosure listings. Location, location, location.

Agents

The Close

MARCH 15, 2022

I’ve been in real estate for 27 years and I’ve never seen anything like this market. These days, instead of getting asked about how to win bidding wars, my clients and friends constantly ask me if we’re in a real estate bubble that’s ready to pop. Free Template: Housing Market Infographic.

Agents

HomeLight

SEPTEMBER 30, 2020

An online option like a real estate owned (REO) property, you’re not spending any money into it,” says Durham. Unlike live auctions, many auction websites charge a fee on top of the sale price. “If This can sometimes push the home over its actual market value. Source: (Antenna / Unsplash). Absolute bid.

Due diligence

HomeLight

AUGUST 31, 2020

Here, we break down the major pros and cons of buying a bank-owned property to demystify the process and prepare potential buyers. What is a bank-owned home? A bank-owned home, also known as “real estate owned” (or REO for short), refers to properties that have been foreclosed with the ownership transferring to the bank or lender.

Banks

HomeLight

MARCH 10, 2023

That is especially true in the New York market, where house flipping margins have gotten thinner as home prices and repair costs have escalated, and buyers have been shut out of the market by higher interest rates. Flipping takes a lot of money, know-how, manpower, and planning to be successful.

House Flipping

HomeLight

AUGUST 31, 2021

They’ll put the house up for auction either in a sheriff’s or public trustee sale (the name depends on what foreclosure process your state follows). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. Short sale.

Pre-approval

McKissock

APRIL 30, 2021

Sales due to a job relocation, estate settlement, foreclosure, or divorce may sell for less than the property’s market value. Remember, in general, market value is defined as the most probable price a property should bring in a competitive and open market. Short sale. Court ordered sale.

Sales

The Close

DECEMBER 29, 2022

These real estate definitions will help you ensure you’re communicating with clients effectively. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. It’s often presented as a percentage of the fair market value.

Purchase and sale agreement

Housing Wire

FEBRUARY 5, 2025

Foreclosure activity has declined significantly since the housing crisis of the late 2000s, and distressed home marketplace Auction.com reported this week that it expects the number of foreclosure-auction sales in 2025 to drop to the second-lowest total on record. But these ratios vary significantly across local markets.

Sales