Most foreclosure buyers are local community developers renovating and reselling to owner-occupants. Daren Blomquist of Auction.com examines this market segment and others taking part in home auctions nationwide.
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Real Estate Developer Pays $3.1 Million for Blighted Property Bundle In Detroit
Wayne County, Michigan, sold a bundle of more than 6,000, distressed and blighted properties to a single bidder for more than $3 million in the county's tax foreclosure auction earlier this week, according to Wayne County Chief Deputy Treasurer David Szymanski.
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 »Foreclosure Activity Decreases in April
RealtyTrac's latest U.S. Foreclosure Market Report for April 2014, revealed foreclosure filings were down 1 percent from March, totaling approximately 115,000. April's figure reflects a year-over-year decrease of 20 percent.
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