What is a foreclosed home? A foreclosed home is a home that was taken from the homeowner and is now owned by the bank. After continually not be able to make their monthly payments over a certain period of time the bank will take possession of the home. When the bank has possession of the [...] Continue reading
Total Shadow Inventory for the top 25 states: Percentage of distressed sales (short sales and foreclosures) by state: Number of months it would take to clear the shadow inventory at today’s sales pace. Note: this is assuming only shadow inventory … Continue reading
Almost any real estate agent trying to work out a short sale deal with Bank of America will express frustrations with the slow and painful process. Bank of America is dealing with more short sales than any other company, in large part due to their acqu… Continue reading
The fact is, many Cache Valley residents are experiencing hard financial times. Even here in Logan, foreclosures are happening. Foreclosures are primarily caused by loss or decreases in household income. Many homes that are foreclosing, don’t actually have to go through foreclosure though. There are options for people having difficulties making their house payments, people [...] Continue reading
In the crazy world of increasing foreclosures, foreclosures are costly, they hurt both the bank and the person being foreclosed on. Short Sales, are the most common alternative to avoid foreclosure, but short sales are very time consuming, ineffective, and … Continue reading
So I just ran the numbers to see the latest trends for Logan Utah Short Sales, and unless the MLS changed the way short sales are calculated, short sale numbers in Logan are way down. Of the 812 homes listed for sale right now, just 29 Logan Real Estate listings are short sales. This is [...] Continue reading
A recent stat shows that 23.3% of all US homes are underwater, meaning that the owners of these properties owe more on their home than what it is actually worth. If these homeowners need to sell, they generally have to do it by means of Short Sales. Unless they have reserves of Cash stashed away, [...] Continue reading
I am always trying to stay on top of the national real estate news, and right now the big subject of topic is with Foreclosures and “Shadow Inventory.” Shadow inventory is essentially default homes that will eventually foreclose. Many national economists and housing experts are predicting that the foreclosure problem is only going to get [...] Continue reading