Norada Real Estate Investments

  • Home
  • Markets
  • Properties
  • Notes
  • Membership
  • Podcast
  • Learn
  • About
  • Contact

Mortgage Delinquencies Decline Across the U.S.

February 23, 2011 by Marco Santarelli

According to a recent survey released by the Mortgage Bankers Association (MBA), the “latest delinquency numbers represent significant, across-the-board decreases in mortgage delinquency rates in the U.S.,” according to MBA’s chief economist, Jay Brinkmann[1]. In fact, total delinquencies (not including homes already in foreclosure) are at the lowest levels since the end of 2008, and mortgages with one payment past due alone are at their lowest level since 2007, which MBA marks as the “very beginning of the recession.”

Perhaps even more more promising: at the beginning of 2010 90-day-or-more delinquencies were at an all time high at the beginning of 2010 but have now fallen 28 percent, and 48 of the 50 states experienced a drop in this area.

[Read more…]

Filed Under: Economy, Foreclosures, Housing Market Tagged With: Foreclosures, Housing Market, Mortgage Delinquencies

Foreclosure Timeline

June 25, 2010 by Marco Santarelli

Novice short sale and other real estate investors are often confused by the entire process; it's not your fault! Foreclosure has never been simple but with the current backlog and other pressures, it's become worse than ever.

Here to help is an easy to read foreclosure process timeline. It will help novice investors understand the different methods used to purchase short sale, pre-foreclosures and foreclosed properties.

  1. First month missed payment. This counts as day one for the bank but notice, the homeowner had 30 days just like normal to come up with a payment. They will always remain 30 days ahead of the bank schedule.
  2. Second missed mortgage payment…day 30 for the bank.
  3. Third missed mortgage payment…day 60 for the bank. The loan is now seriously delinquent.
  4. [Read more…]

Filed Under: Foreclosures, Real Estate Investing Tagged With: foreclosure timeline, Foreclosures, Real Estate Foreclosures

Short Sales: Fact vs. Fiction

June 15, 2010 by Marco Santarelli

Looking for big profits in short sales? An internet search for the phrase “investing in short sales” brings up tens of thousands of hits, many of which offer strategies and tricks to make a killing on the rising number of short sales in the U.S. These properties are sometimes viewed as easy money because the seller is in distress. But this is not necessarily the case.

The concept behind a short sale is this: a homeowner is unable to continue making mortgage payments; however, the outstanding mortgage on the property is higher than the market value of the house (i.e. “upside-down”). The homeowner makes a deal with the lender to sell the property at market value, and the lender eats the loss.

But are short sales really the money-making scheme that many believe them to be?

Not that it’s impossible to get good deals – many investors manage to buy short sales at a discount – but investors should be aware that negotiating a short sale is no walk in the park.

“Our biggest challenge [with short sales] is getting the banks to recognize that the property is not worth what they think it is. When we submit offers, and we think it’s a fair offer, and we fight with the banks on behalf of…the buyer, it’s very difficult to get them to meet us halfway at times,” says Mia Lutz, president of Say No To The Bank, a community counseling organization that works with foreclosure buyers and sellers.

Time frame can also be a major impediment for real estate investors looking to purchase short sale properties. Short sales can take anywhere from 30 days to six months from contract to closing, and the deal can fall apart at any time.

[Read more…]

Filed Under: Foreclosures, Real Estate Investing Tagged With: Foreclosures, pre-foreclosures, Real Estate Investing, short sale properties, short sales

The Housing Market is About to Get Even More Oversupplied

November 18, 2009 by Marco Santarelli

While both the media and stock investors believe that housing has bottomed, they are unaware of the massive supply of homes that are already in the foreclosure process that will certainly drive home prices down even further when they are sold. We have been projecting a “W” shaped recovery for some time, and we are becoming even more convinced that we are right. The shape of the second leg down is almost completely dependent on the level of government intervention that will take place.

For a number of reasons, banks have not been aggressively taking title to homes and selling them, which has resulted in very few distressed sales in comparison to the actual level of distress in the market. This delay in REO sales, along with historically low mortgage rates and an $8,000 tax credit, has helped to stabilize the housing market – temporarily.

It is very clear that price stabilization is temporary unless something is done. Here are some facts to help project what housing will be like in 2010:

[Read more…]

Filed Under: Foreclosures, Housing Market Tagged With: Fannie Mae, FHA, Foreclosures, Freddie Mac, Housing Market, Real Estate Investing, REO

Foreclosures Hit All-Time High!

October 19, 2009 by Marco Santarelli

Just when you thought foreclosure filings were stabilizing, they hit another all-time high with almost 938,000 homeowners filing in the third quarter, according to Realty Trac.  This is a 5% increase from the previous quarter.

Six states account for 62% of the nations foreclosures:
California, Florida, Arizona, Nevada, Illinois and Michigan accounted for 62 percent of the nation's total foreclosure activity in the third quarter.  That accounts for 579,541 properties receiving foreclosure filings in the six states combined.

Although California's foreclosure activity decreased almost 2% from Q2 there were still 250,054 properties that received a foreclosure filing.   That was a 10% drop in default notices but a 4% increase in scheduled auctions and 12% increase in REOs.

[Read more…]

Filed Under: Economy, Foreclosures, Housing Market Tagged With: foreclosure, foreclosure activity, Foreclosures, Housing Market

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • Next Page »

Real Estate

  • Baltimore
  • Birmingham
  • Cape Coral
  • Charlotte
  • Chicago

Quick Links

  • Markets
  • Membership
  • Notes
  • Contact Us

Blog Posts

  • Florida Real Estate Forecast Next 5 Years: Will it Crash?
    June 6, 2023Marco Santarelli
  • AZ Housing Market: Prices And Forecast 2023
    June 6, 2023Marco Santarelli
  • Phoenix Housing Market: Prices, Trends, Forecast 2023
    June 6, 2023Marco Santarelli

Contact

Norada Real Estate Investments 30251 Golden Lantern, Suite E-261 Laguna Niguel, CA 92677

(949) 218-6668
(800) 611-3060
BBB
  • Terms of Use
  • |
  • Privacy Policy
  • |
  • Testimonials
  • |
  • Suggestions?
  • |
  • Home

Copyright 2018 Norada Real Estate Investments