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Tag Archives: Real Estate Investment

Cash Buyers and Investors Take Fright: Capital Economics

Home price depreciation over the past few years has made housing more undervalued relative to incomes than ever before, yet home sales have continued to decline. Even more striking is that the dampened activity can be largely attributed to a weakening in demand from cash buyers and investors, according to the researchers at Capital Economics. The firm has found that since January, the number of homes purchased by cash buyers and investors has fallen by 26 percent.

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Econohomes Widens Homebuying Base With Bilingual Services

Econohomes is an Austin, Texas-based company that buys distressed REO properties in bulk and operates an online marketplace to get these homes back into the hands of owner-occupants and investors. The company is looking to make it easier for Hispanic buyers to get into the game. Econohomes is now offering bilingual services and Spanish-language online information to assist the Hispanic community with real estate transactions, both first-time homebuyers and property investors.

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Heavy Distress Sends Las Vegas Home Prices to 15-Year Low

Sales of foreclosed REO homes and short sales continue to dominate the Las Vegas market. These distressed sales made up nearly 70 percent of the region's home resales in June, according to the research firm DataQuick. REOs accounted for 58 percent of existing-home sales during the month, while short sales comprised 11 percent. With such a heavy presence of distress, the median home price in the Las Vegas metro area dropped to $115,000 in June - the lowest it's been since October 1995.

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NAREB and Investors Partner in $800M Housing Relief Program

Studies have shown that minorities have been disproportionately impacted by the nation's housing crisis. The National Association of Real Estate Brokers, Inc. (NAREB) is taking steps to ease that impact. NAREB is partnering with Wall Street investors to launch an $800 million Homeowner's Assurance Program (HAP) to bring foreclosure mitigation to minority families and clean up neighborhood blight in their communities.

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Econohomes Adds Renovated REOs to Its For-Sale Inventory

Econohomes, an online source for wholesale investment properties based out of Austin, Texas, is now offering fully renovated residential properties to its REO inventory. Econohomes says its renovated offerings fit the bill for owner-occupiers who don't want to have to deal with repairs and for investors looking for a home they can quickly rent out to generate positive cash flow. The company is actively exploring ways to expand its supply of renovated homes.

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Bank of America Settlement in Question

New York Attorney General Eric Schneiderman is seeking client information from several companies as part of an investigation into Bank of America's recent proposed $8.5 million settlement. Schneiderman specifically asked for lists of clients affiliated with New York government agencies, public authorities, and nonprofit and charitable organizations. At the same time, Walnut Place LLC filed a petition contesting the proposed Bank of America settlement. The group expressed their concerns over the secrecy in which the proposed settlement was negotiated.

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Real Estate Veteran Reveals Five Trends to Watch in a Struggling Market

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Greg Rand, a 20-year real estate veteran and author of ""Crash Boom,"" recently divulged five new trends in the struggling housing market. The secret to making sure your real estate doesn't turn into a money pit, he says, is to watch these trends so you can predict where prices will rise and where they won't. Rand contends that no matter how the markets change, no matter which way the winds shift, people will always need a place to live - an ideal that's been true of America since the first log cabin.

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Investors Moving Foreclosures Faster Than Banks Along West Coast

Third-party investors are reselling foreclosure properties they've scooped up at auction at a rapid pace in states along the country's Western seaboard. In fact, they're moving distressed homes faster than lenders, according to a local tracking firm. ForeclosureRadar says the resell timeframe for foreclosure investors has dropped throughout its five-state coverage area. The company says it's partially due to spring selling activity, but more to do with a lack of quality, affordable homes for sale as a result of foreclosure delays.

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Florida Realtors Join Governor to Bring Business to the Sunshine State

Florida Realtors president, Patricia Fitzgerald, was in Canada last week with Gov. Rick Scott and other business leaders to encourage Canadian companies to do business in Florida, a move expected to benefit the state's troubled real estate markets. Fitzgerald notes that a large percentage of Florida property sales each year are to international buyers, with Canadians making up 36 percent of all international property sales in the Sunshine State.

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Report: Investment Buyers Strengthen Foreclosed Home Sales

While home sales have slowed from the typical pace seen at the start of the spring buying season, Radar Logic says the foreclosure market is performing better than the market for all other homes. The company's count of motivated transactions - which includes sales at foreclosure auctions and subsequent bank-owned properties - has posted significantly stronger gains during the first part of this year than traditional home sales when compared to each market's historical performance. Radar Logic credits investment buyers for the foreclosure market's boost.

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