Buying Distressed Assets

Cash Is King in Today's Distressed Marketplace

Posted on Monday, April 04, 2011

For many homebuyers, mortgage financing is hard to come by these days. Lenders have tightened up credit requirements in an about-face from the lax lending of pre-crisis days that put people into mortgages they couldn’t afford and fueled record-high delinquencies. Evidence of constricted mortgage cr...

Moody's Sees Vast Divergence in Distressed vs. Non-Distressed Prices

Posted on Monday, April 04, 2011

Performance of commercial real estate in the United States is bifurcated, according to Moody’s Investors Service, with larger properties in major markets recovering value while distressed properties remain well off the peak. When looking at the commercial real estate sector as a whole, the New York...

Foreclosure Sale -- Buyer Beware!

Posted on Monday, February 14, 2011

Buyers of property at foreclosure are looking for a bargain, but that risk now must include the possibility that the title will be defective. One unsuspecting family purchased a home at foreclosure, intending to sell it to their daughter, only to have a title company question whether they acquired...

Distressed Properties Drive Record-Breaking 2010 Resales

Posted on Tuesday, January 04, 2011

MIAMI-It feels like 2006 again—maybe not with prices, but with the volume of resales. Indeed, more South Florida residences resold this year than in the finale of the real estate boom in 2006. That’s because buyers are rushing to market to get in on deep discounts on distressed properties, as well ...

The Haggling Begins for Troubled Assets

Posted on Thursday, November 11, 2010

It is the biggest rummage sale in Wall Street history — what one investment company calls “the Great Liquidation.” Two years after Washington rescued Wall Street, hundreds of billions of dollars of bad investments — in many cases, the same ones that poisoned banks and then the economy — are going u...

Bonanza of Riches for Bank Rescuers

Posted on Thursday, November 11, 2010

Who wants to be an American community banker? It doesn’t seem to be an especially appealing profession these days. After all, scores of local lenders are failing every week. More than 143 have failed so far this year, including four last week. Regulatory red tape is on the rise. And all those “too b...

What It Takes to Buy a House in Foreclosure

Posted on Friday, November 05, 2010

ATLANTA — As in any economic downturn, the wave of home foreclosures has attracted voracious opportunists — investors among them who are buying, fixing and then renting the places out. In their wake are aspiring owner-occupants. How hard could it be, they ask, to pick up one of these houses on the...

Avoid Foreclosure Market Until the Dust Settles

Posted on Monday, October 18, 2010

Todd Phelps and Paul Whitehead didn’t think they were last month when they were the winning bidders in a foreclosure auction on the steps of the main Riverside, Calif., county courthouse. They thought they had won the lottery. For years, they had been living in a rent-controlled apartment in Santa...

Inspections

Posted on Monday, October 18, 2010

THE INSPECTION Let’s say you do manage to get a loan, resist the auctions and take the straight sale approach, shopping through a real estate agent. You’ll want to make any bid for a home contingent on a thorough inspection from someone familiar with foreclosed properties. Mold may be your first c...

First Time Buyers

Posted on Tuesday, February 23, 2010

Mark Zandi, chief economist at Moody's Economy.com, says there will be 1.84 million homes sold to first-time home buyers in 2010, compared with 1.73 million in 2009....

CDDs...another opportunity?

Posted on Thursday, February 11, 2010

Investors in Florida’s distressed community development districts are expecting increasing defaults on bonds sold during the state’s real estate boom years. November payments showed a sharp increase in the number of CDDs drawing on debt-service reserves or not paying interest. More than 40%. Ma...

The Importance of Title Insurance

Posted on Thursday, July 02, 2009

PThe purpose of an owners title insurance policy is to protect commercial or residential property owners from most things that could be wrong with the title (the legal right to own, use, etc) of the property. Title insurance coverage is limited by the dollar amount of coverage (for an owner's title...

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