Comments for Home Sales - foreclosure rise fall drop

Comment on How do I buy foreclosures directly from the government? by Jose M

Jose M — Fri, 11 May 2012 22:37:38 +0000

ask ur mom.

Comment on How do I buy foreclosures directly from the government? by RKA

RKA — Fri, 11 May 2012 22:13:36 +0000

You have to have a Realtor. Prices are based on current market value, usually based on taxes or a Current Market Analysis. Be careful of your web searches, get a reference from someone you trust. A lot of vultures out there right now, even at good prices today, you could still get stiffed.

Comment on How do I buy foreclosures directly from the government? by Move on

Move on — Fri, 11 May 2012 22:12:24 +0000

A small percentage of the foreclosures are gov. owned and actually that would be by the federal housing association. Most foreclosures are bank owned. Contacting banks will give you information on foreclosures and short-sales.

Comment on How do I buy foreclosures directly from the government? by Rick

Rick — Fri, 11 May 2012 21:58:45 +0000

Keep checking foreclosure website, there’s a fee most of them.

Comment on How do I buy foreclosures directly from the government? by ray

ray — Thu, 10 May 2012 13:32:18 +0000

Like the previous answer. The government doesn’t actually have storehouses of foreclosed homes for sale. They just insured the notes on the foreclosed homes, so you’re not really buying the home from the government. Unless you are referring to HUD homes. If you are, then you could contact your local HUD office and get some information. I’ve worked on HUD projects in the past and I think there are quite a few stipulations to purchasing one. If your trying to cash in on a foreclosed home, there are scores of services that will help you. Just type in “buy foreclosed homes” in any search engine and take your pick. Most charge a small fee for giving you access to the database, but if you are serious, just call a real estate agent and tell them what you are wanting to do. They know a lot more about this than the average joe, and will probably point you in the right direction. Look to Phoenix, Miami, and other under-valued areas that will issue tax incentives to businesses.

Comment on foreclosures? by afiesha s

afiesha s — Wed, 09 May 2012 07:04:05 +0000

Hi, I think it would be on your best interest to check out this website, it can best answer your concerns towards purchasing homes in foreclosure.

https://therena.com/?utm_source=blog&utm_medium=blog%252Bfeedaback&utm_content=godevsite-track-1&utm_campaign=TheRENA%252CEvents%252CThe%252BReal%252BEstate%252BNational%252BAssociation%252C

Comment on foreclosures? by godged

godged — Wed, 09 May 2012 06:21:19 +0000

Highly unlikely.

I don’t care what the other poster said, lenders are not rolling over and taking huge losses on their short sales. These companies are in a position to hold out for a decent offer, and unless it is a distressed property (needing alot of repair) NO lender is going to take a third of real market value.

Lenders obtain Broker Price Opinions and appraisals to determine what a house should sell for, and are not taking ridiciously low offers. If it is pre-auction, i.e. short sale, this is even LESS likely to happen.

The misinformation about short sales and foreclosures is rampant. If it sounds too good to be true, it probably is.

Comment on foreclosures? by marcanthonyedwards

marcanthonyedwards — Wed, 09 May 2012 05:57:12 +0000

Yes it is possible. It all has to do with what is owed on the property-the balance of all the existing liens. At this point the current borrower is in default.
Someone mentioned that it was a short sale, that is false information. A short sale is when a bank accepts a lesser amount of money to satisfy a loan. Usually the borrower has to have been in default for a few months before given the option of a short sale.

If your friend can find someone who is in default and owes less than 300k, they may have a chance to negotiate a price. But remember this: There are no guarantees and even if someone owns their house free and clear, they can sell it for whatever they want to.

Yes, yes, yes it can be done…I’ve done it many times

Comment on foreclosures? by Cristina V

Cristina V — Wed, 09 May 2012 05:18:58 +0000

Not likely, unless there are major repairs to be made. Most banks will try first to sell for the judgement amount and that doesn’t happen, they usually try to stay above 67% of the principal owed. A couple of banks have come down to 50% of the principal owed as a guideline, but that’s generally their rock-bottom.

Comment on foreclosures? by Tambo1228

Tambo1228 — Wed, 09 May 2012 04:42:13 +0000

WOW! Good Luck