At their peak in January 2011, cash sales accounted for nearly half of all residential home sales in the United States (46.5 percent). Since then, that percentage has steadily declined; in August 2015, it was reported at 31.7 percent, less than one-third of all home sales—a decline of more than 3 percentage points from August 2014, when it was 34.9 percent.
Read More »Report: Short Sales, REO Experience Largest Increase in Three Years
Investors who sought low prices on distressed inventory with a high return on investment took advantage of opportunities in Q1. With an absence of traditional homebuyers, investors reduced high distressed saturation rates by creating more demand, thus driving up home prices in key recovering metros, according to Clear Capital.
Read More »Las Vegas Suburb Launches Foreclosure Registry
City officials in the Las Vegas suburb of Henderson, Nevada, have announced the launch of a foreclosure registry in order to help monitor the number of abandoned residential properties in the area from falling into disrepair or becoming blighted.
Read More »Anonymous Bidder Puts Up $3.1 Million for Distressed Homes in Detroit
An anonymous bidder offered slightly more than $3.1 million in an auction last week to buy more than 6,000 foreclosed homes in Detroit, according to Wayne County, Michigan, Chief Deputy Treasurer David Szymanski.
Read More »Report: Distressed Property Valuations No Longer Driven By Foreclosures, REOs
Residential foreclosures and REO (bank-owned) properties no longer drive distressed property valuations, according to the FNC Appraisals Pipeline Report released earlier in the week.
Read More »