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Free Bank Foreclosure List: How Do You Decide?
from: Deb St. George - HomelessInKingCounty.comA free bank foreclosure list is a fantastic tool available to you. As you consider investing in real estate in this manner, you really do have to take into consideration the value of any property on the market carefully. By investing time in finding an affordable and profitable property, you can walk away from a property more often than not with a profit in your pocket. So, once you get that free bank foreclosure list in your hand, what exactly do you do with it?
Step 1: Consider the Profit Margin
As part of the process of going over that free bank foreclosure list, you have to look for profit. Now, if you are just buying the home to live in, the quality of life you will lead there takes precedence over the profitability of a property. If you plan to flip the home, though, this is not so much the case. Determine if the property offers enough of a profit margin by looking at estimated repairs, closing costs, taxes and other expenses and tacking those onto the sell price of the home. Is your profit margin there?
Step 2: Consider the Housing Market
With the current situation in the United States with the property market falling in value in many areas, looking at the sale price on the free bank foreclosure list is simply not enough to go off. You need to be sure that one, two, or three months down the line the property is going to sell at or above your profit requirement. To do this, look at the housing market in the city and with the help of your real estate agent, determine if it looks promising or difficult to move forward.
Step 3: Look at All Risks
Every property comes with some risk levels. It could be that you are facing a considerably high repair cost or you could be looking at having a property on the market for months into the future. This could be a potential loss for you. However, while you have that free bank foreclosure list, consider which property is the best opportunity out there not only to make a profit on, but also to see financial security from in the next months.
Carefully consider your free bank foreclosure list. Find out where the opportunities are and be sure that you are considering all risks. Depending on your experience with the foreclosure market, you may want to look for lower risk opportunities to help safeguard your investment dollar into this property and all others on your free bank foreclosure list.
Foreclosure Reo Bank News
RealtyTrac: Foreclosure activity declined in April
RealtyTrac® ... today released its U.S. Foreclosure Market Report™ for April 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 188,780 U.S. properties in April, the lowest monthly total since July 2007.
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Read more...Fitch: US Commercial REO Stock Sufficient to Reduce Delinquency
Fitch Ratings believes the recent increases in commercial REO assets are significant enough to bring down the CMBS delinquency rate. We expect the rate to vary by about 25 bps in both directions in 2012 and that the current REO inventory will put downward pressure on the delinquency rate as it is liquidated.
Read more...Report: U.S. Foreclosure Activity Shifting Eastward
RealtyTrac®, a leading online marketplace for foreclosure properties, recently released its U.S. Foreclosure Market Report™ for April 2012, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 188,780 U.S. properties in April, the lowest monthly total since July 2007. April foreclosure activity decreased 5 percent from the previous month and ...
Read more...U.S. Foreclosure Activity Shifting Eastward According to RealtyTrac(R) U.S. Foreclosure Market Report
11 of 20 Largest U.S. Metros Post Increases, All in Midwest, South and East Coast; Non-Judicial Activity Down 29 Percent Annually, Judicial Activity Up 15 Percent
Read more...Investor Caution: Beware of Heat in Distressed Housing
By Diana Olick, CNBC Real Estate Reporter NEW YORK (CNBC) -- As real estate investors rush to buy distressed properties and reap the rewards of a still-heating rental market, two distinct phenomena are suggesting caution, perhaps extreme caution. The first is in sales of foreclosed homes that the banks now own (REO) and short sales (when the home is sold for less than the value of the mortgage ...
Read more...Foreclosures Fall...And That's a Bad Thing?
By Diana Olick, CNBC Real Estate Reporter NEW YORK (CNBC) -- A new report came out this week with a curious headline: "Foreclosure Activity Declines, Hurting Investors." I read it twice. You would think declines in foreclosure activity would be a good thing, that is, would help, not hurt. Not in this bizarre housing market. The report is from Foreclosure Radar, a foreclosure sales and analytics ...
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