Posts with tag foreclosed properties

The share of bank-owned homes and homes in some stage of foreclosure dropped 5 percent from the first quarter to the second quarter of 2011, falling from 36 percent to 31 percent, but was up from 24 percent in second-quarter 2010, according to a report released today by foreclosure data provider RealtyTrac. And distressed... Continue Reading »

The excess of foreclosed homes that has flooded the market is taking its toll on overall sales. About one-fourth of all homes sold in the second quarter of 2010 were steeply discounted, due to their foreclosure status, according to RealtyTrac. It is estimated that banks will take over a record 1.2 million homes this year... Continue Reading »

Beware, real estate speculators: Your advantage is waning. The Obama administration announced today that major banks have agreed to allow local governments and nonprofit groups to purchase foreclosed properties before private investors. Congress granted $7 billion to enable local officials to acquire such properties with... Continue Reading »