For every two homes available for sale, there is another in lender shadow inventory, according to a report by CoreLogic. Nationally in October 2011, 1.6 million residential units were shadow inventory comprising property delinquent 90 days or more, in foreclosure or real estate owned (REO) and thus were not yet listed with a multiple listing [...]
A second quarter 2010 data report by Zillow.com claims there is a noteworthy decrease in the national percentage of underwater homeowners. Currently, 21.5% of homes are underwater — down from 23.3% in the first quarter of 2010 and 23% from the previous year. The data service attributes the decreasing percentage of underwater homeowners to rising [...]
While it is unsurprising that California is currently experiencing a buyer’s market, the extent to which many buyers are currently going to purchase a house at the perfect, rock-bottom price is borderline ruthless. Buyers who were once squeamish about buying during the battered real estate market of 2007-2009 are now mercilessly seeking the best deal [...]
Lenders are targeting underwater homeowners in a campaign to attract those interested in bypassing foreclosures and short sales and simply deeding over the title of their property to the lender. Bank of America is offering cash incentives that range from $3,000 to $15,000, as well as a promise to not pursue the homeowner for any [...]
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