Among the nation’s largest lenders and mortgage servicers, some are better than others when it comes to buying a short sale. There are several ways to measure which lenders are best to buy short sales from: sales volume, average discount and average time to sell. We’ll look at the top performing lenders in each of these categories based on January 2012 foreclosure sales data.
Here are some of the most recent Investment opportunities in the area.
U.S. Foreclosure Activity Shifts Eastward in April
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 188,780 U.S. properties in April, the lowest monthly total since July 2007. April foreclosure activity decreased 5 percent from the previous month and was down
14 percent from April 2011. One in every 698 U.S. housing units had a foreclosure filing during the month. “Rising foreclosure activity in many state and local markets in April was masked at the national level by sizable decreases in hard-hit
foreclosure states like California, Arizona and Nevada,” said Brandon Moore, CEO of RealtyTrac.
Foreclosures For Sale Under $50,000
I recently took a look at how many foreclosure properties —pre- foreclosures, scheduled auctions or REOs — were listed for sale on RealtyTrac for $50,000 or less. I was somewhat surprised to find that more than 8,000 properties nationwide matched this criteria. Even more surprising that not all these properties were located in places like Detroit and Cleveland — although many of them were. I found that there were foreclosure properties listed for sale for
$50,000 in 48 states, and many states had hundreds of such properties available.
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