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Commercial market bottom nears as foreclosures surge

Inman

Portfolios of foreclosed and seized office buildings, apartments and other commercial buildings hit $20.5 billion during the second quarter of 2024, the highest quarterly figure posted since 2015, according to MSCI.

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Government Websites, Real Estate Agents, A Drive around the Block, And More Ways to Find REO Homes in Your Area

HomeLight

If you’re in the market for real estate, either as an investment or a residence, REO (which stands for “real estate owned” also known as “bank owned”), homes can offer you a deal, but without the hassle of dealing with a foreclosure auction. To figure out the best place to find REO homes, we did a lot of digging and looked at banks, the U.S.

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What Buyers Need to Know About Making an Offer on Active Contingent Listings

HomeLight

Still, it’s worth noting that if you want to change the use of your new property — by turning the first floor into retail or commercial office space, for instance — you’ll likely need proper approval and permitting that may extend beyond the typical closing period. Bank or court approvals. These types of contingencies cannot be waived.

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Miami Real Estate Luxury Home Sales Continue Surging 

Realty Biz

Last Year; Impacting Sales Miami total home sales decreased 35.5% year-over-year in April 2023, from a historic 3,445 transactions in April 2022 to 2,222 in April 2023, because of rising mortgage rates, the recent banking crisis and lack of supply in certain price points. In 2009, distressed sales comprised 70% of Miami sales.

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Miami Real Estate Records Best August Sales Month in History

Realty Biz

of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 3% in August 2020. In 2009, distressed sales comprised 70% of Miami sales. Total Miami distressed sales decreased 41.6% Short sales and REOs accounted for 0.5%

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12 profitable real estate niches to explore now

Real Trends

Agents might want to focus on wealthy buyers or investors in private property or commercial real estate with or without investment property loans. Foreclosures Foreclosures and real estate owned properties are owned by the lender after a sale has failed or a borrower has defaulted on the mortgage.

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Frequently Asked Questions about Buyers Agents in Real Estate

Realty Biz

Whether it's residential, commercial, or investment properties, working with an agent with expertise in your desired area can be highly beneficial. It involves submitting detailed financial information to a lender, including income verification, bank statements, and credit history.