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How online auctions deliver on the promise of pre-foreclosure sales

Housing Wire

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. More than 1.7

Sales 435
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How a transparent marketplace provides a proven path to benefit homeowners

Housing Wire

One prominent scheme involved unlicensed “short sale facilitators” charging upfront fees to distressed homeowners and often representing “straw buyers” with lowball offers. She will offer to list the home for sale on the MLS if there is enough time before the scheduled auction.

MLS 435
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Existing home sales continue to decline in 2023

Housing Wire

“This is the lowest level of home sales activity since May 2020 when the COVID-19 pandemic had shut down much of the economy,” Lisa Sturtevant, the Bright MLS chief economist said in a statement. Before that, you have to go back to October 2010 to find total sales this low.” Despite this industry analysts remain optimistic.

Sales 370
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Opinion: When it comes to default and REO, what you don’t know will hurt you

Housing Wire

A moment of reckoning may be imminent for the default and REO industry. Many in the industry are already rising to meet it. A look at default activity past and present The default industry was thrust into the public view during the Great Recession. The mortgage lending industry exists to make home loans, not to repossess them.

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Through the eyes of the single-family rental lobby

Housing Wire

David Howard : We are a trade association that represents the single-family rental industry. We are a relatively young organization ( founded in 2014 ), which reflects the fact that the single-family rental industry is relatively young. HW : You say it’s a relatively young industry.

Investor 435
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Active Pending Short Sales: What Are They, And Can You Still Make an Offer?

HomeLight

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . Wait, what?

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What is a BPO and When to Use Them?

Realty Biz

Most BPOs also provide information about 3 comparable property sales and 3 comparable listings. The broker will look up the properties on MLS to determine when the properties were recently sold and for how much. One of the few times that a lender will use a BPO instead of requiring an appraisal is for a short sale.