ACTIVE REAL ESTATE FORECLOSURES FOR SALE WITH FHA FINANCING IN BIRMINGHAM AL-05/27/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE WITH FHA FINANCING IN BIRMINGHAM AL-05/27/2011

YourFREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL-05/27/2011 list has been posted

http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=7015676223

Theseare Single Family Homes ‘Active’ on the Birmingham MLS. These homes are
ripe for the picking. Don’t Let them pass you by. ACT NOW!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

Foreclosure sales accounted for 28 percent of U.S. home sales in the first quarter, with those properties
selling for nearly 27 percent less, on average, than homes not in the
foreclosure process, data aggregator RealtyTrac said in a report released today. This is accurately reflected in the number of ACTIVE REAL ESTATE FORECLOSURES FOR SALE in the Birmingham, AL Area.

A total of 158,434 U.S. residential properties either owned by banks or in some stage of foreclosure
sold to third parties in the first quarter, a decrease of 16 percent from
fourth-quarter 2010 and a decrease of nearly 36 percent from first-quarter
2010, RealtyTrac said.

Properties in some stage of foreclosure — default, scheduled for auction or bank-owned (REO) — had an
average sales price of $168,321, down 1.9 percent from fourth-quarter 2010 and
down 1.5 percent from first-quarter 2010, This is inline with the local trend her for                                                                                                                            ACTIVE REAL ESTATE FORECLOSURES FOR SALE in the Birmingham, AL area. The 27 percent
foreclosure discount for the first quarter was unchanged quarter-to-quarter,
and up slightly from a 26 percent discount in first-quarter 2010.

“While foreclosure sales continue to account for an unusually high percentage of all residential home
sales, sales volume is well off the peak we saw in the first quarter of 2009,
when nearly 350,000 foreclosure properties sold to third parties,” said
James J. Saccacio, RealtyTrac’s CEO, in a statement.

A total of 107,143 bank-owned (REO) properties sold to
third parties in the first quarter, down nearly 30 percent year-over-year, at
an average discount of 35 percent, up from an average discount of 33 percent in
first-quarter 2010. REOs comprised nearly 19 percent of all sales last quarter. Birmingham AL ACTIVE REAL ESTATE FORECLOSURES FOR SALE account for a fare share of our state’s REO Market

Another 51,291 preforeclosure properties — homes in
default or scheduled for auction — sold to third parties in the first quarter,
down 45 percent year-over-year, at an average discount of 9 percent, down from
an average discount of 14 percent in first-quarter 2010. Preforeclosure sales
comprised nearly 9 percent of all sales last quarter.

It took an average of 176 days for an REO to sell after
it had been repossessed; preforeclosure properties were in the foreclosure
process for 228 days on average before selling, RealtyTrac said. This trend of ACTIVE REAL ESTATE FORECLOSURES FOR SALE in the Birmingham AL area is also inline with national trends.

Q1
2011 Total Foreclosure Sales
State #
of FC Sales
%
ch. from Q1 ’10
Pct.
of all sales
Avg.
price
Avg.
discount %
U.S.
Total
158,434 -35.79 27.53 $168,321 26.66
Alabama 834 -14.81 20.06 $135,063 20.46

ACTIVE REAL ESTATE FORECLOSURES FOR SALE WITH FHA FINANCING IN BIRMINGHAM AL-05/27/2011

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s