REO

The number of bank-owned property sales in Connecticut has jumped significantly, according to The Warren Group, which provides real estate data for the entire New England region. The research firm said REOs represent nearly 6 percent of the state’s single-family home sales so far in 2009, compared to just 1 percent last year.

First American Valuation and Property Solutions, the Dallas-based branch of First American Corporation that provides residential property valuations, inspections, and preservation services, announced on Tuesday the availability of a new Property Listing Verification report.

Phoenix-area Realtor Jason Hall has launched a new Online Home Bidding service that he says will make selling real estate in the foreclosure-ravaged metro easier. The portal allows potential homebuyers to seek out Phoenix properties – including foreclosures and bank owned properties – from anywhere that has an Internet connection, submit a bid of interest, and then start taking the steps to buy a home.

Boston-based Real Estate Fiduciary Services (REFS), a real estate investment strategist company, has announced the formation of a specialized Asset Management Alliance. Led by REFS President John Baczewski and comprised of seven other senior-level real estate practitioners from diverse backgrounds and cities, the alliance was created in response to the growing number of real estate investors, lenders, and owners with financially distressed and underperforming assets.

More than 300 attendees gathered at the InterContinental New Orleans June 3-5 to participate in the Loan Management & Servicing Seminar presented by USFN—America’s Mortgage Banking Attorneys.

Pleasanton, California’s SmartZip, Inc. has announced the public beta launch of its Web site, SmartZip.com, and the introduction of SmartZip Score, analytics-based investment ratings for residential properties, including foreclosures.

Rainbow City, Alabama’s RealtyBid.com and Clearwater, Florida’s ValCom, Inc., have teamed up to give away a house in a different state every month through a new promotional campaign called The House Game.

Lender Processing Services, Inc. (LPS), a Jacksonville, Florida-based provider of technology and services to the mortgage industry, announced Tuesday the launch of its proprietary Home Price Index (HPI).

National Home Auction Corporation (NHA), a now-defunct real estate company specializing in the marketing and auction-style sale of lender foreclosed properties, filed a lawsuit against Real Estate Disposition Corporation (REDC) in an Orange County Superior Court on Friday.

Investors are zeroing in on the distressed housing market in Arizona. According to the research firm MDA DataQuick, nearly 4 out of every 10 homes sold in the Phoenix area in April were snatched up by absentee buyers, which typically constitute investors or vacation property purchases.