Archive for the 'Foreclosures' Category
Foreclosure Activity Slows Again In June 2010
July 19th, 2010 categories: Foreclosures
313,841 foreclosure filings were made in June, according to foreclosure-tracking firm RealtyTrac. The figure represents a 3 percent drop from May and 7 percent drop from June of last year. However, foreclosure filings remain relatively high nationwide.
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Bank Reposessions Reach Record Levels For The Second Straight Month
June 17th, 2010 categories: Foreclosures, Knoxville Short Sales, Market Trends, Sellers
According to foreclosure-tracking firm RealtyTrac.com, bank repossessions reached record levels for the second straight month in May, topping 93,000 properties nationwide.
As compared to May 2009, all 50 states now show an increase in annual REO activity.
Data like that won’t surprise today’s active home buyers in Farragut. Foreclosed homes are prevalent, available and accounted for one-third of all home resales made in April.
Furthermore, total foreclosure actions — the sum of REO, default notices, and foreclosure auctions in May — topped 300,000 for the 15th straight month.
Foreclosures remain a huge influence on the housing market.
However, two interesting trends emerged in the data:
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Shadow Inventory…What Is it?? Part 1 of 3
May 25th, 2010 categories: Foreclosures, HARP, Knoxville Short Sales, Market Trends, Sellers
Will The Shadow Inventory Help The Real Estate Market In Knoxville??
Will It Increase Short Sales In Knoxville??
The real estate market in Knoxville seem to be improving somewhat?? But there is something out there that could increase Knoxville Loan Modifications as well as the number of Knoxville Short Sales. It is what is known as the “Shadow Inventory”? What is it? How will effect the Knoxville real estate market and markets around the country. Will there be more short sales in Knoxville and around the country. These are the things we will explore in this 3 part series.
In recent months, aspects of the real estate market have seem to have stabilized. Homes sales and prices have been increasing, partially to be credited to the First Time Home Buyer’s Tax Credit that ended on April 30, 2010.
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Foreclosure Activity Slows For The First Time In Several Years..But Is The Worst Over Yet??
May 14th, 2010 categories: Foreclosures, Knoxville Short Sales, Sellers
The national foreclosure rate is finally falling. But there is still a back log of homes where homeowners are behind on their mortgage payments. The shadow inventory is large and still going. These are homes in Knoxville and around the country where the homeowners are behind on their mortgage payments and trying to do a loan modification or considering a short sale. I personally have seen an up tick in my business with area Knoxville homeowners who want to sell their home on a short sale in order to avoid foreclosure
According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010.
2 percent may not seem like much, but it’s the first time in the history of the RealtyTrac report that the annual foreclosure rate has dropped.
To be sure, foreclosure rates remain elevated — more than 300,000 were reported last month, but default notices appear to be approaching a plateau.
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Are You A Knoxville Home Owner With Mortgage Troubles??
April 30th, 2010 categories: Buyers, Foreclosures, Knoxville Short Sales, Market Trends, Mortgage Guidelines, Sellers
So what do I do sell my Knoxville home on a short sale, loan modification….which is best
So your a Knoxville home owner..You are having a tough time making the mortgage payments on your Knoxville home.. You are not alone… So what do you do?? You have heard about all the solutions out there for you, researched them on the internet. Should I sell my Knoxville home using a short sale because I owe more on it than it is worth? How about a loan modification how does that work.. Will my lender even work with me if I choose to sell my using a short sale? How about a deed-in-lieu instead of my home being foreclosed on by my lender..How does that work?? What if I have 2 mortgages on my home??
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7 Steps To Have A Successful Knoxville TN Short Sale…Part 5
April 12th, 2010 categories: Buyers, Foreclosures, General, Knoxville Short Sales, Market Trends, Sellers
Part 5 The Knoxville Short Sale Packet “Getting The Packet To The Lenders”
In my last post we talked about part 4 “About The Buyer”. Today I’m going to cover getting the “Short Sale Packet To The Lenders”
This can be the most frustrating part of a Knoxville Short Sale getting the short sale packet to the lender. The first thing my team does when we list a home for sale that is going to be a short sale is call the loss mitigation department. We confirm the correct fax number and then we fax the authorization to release information about the home. By doing this prior to having an offer it gets a file setup on the property with the loss mitigation department. Just this simple process can take up to a month and will save valuable time once you do have an offer. It has help us get our homes closed quicker .
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Foreclosures Per Capita | February 2010
March 11th, 2010 categories: Buyers, Foreclosures, Knoxville Short Sales, Market Trends, Real Estate Investing, Statistics
According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing.
It’s a small improvement from January and a just 6 percent increase over February 2009.
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