Presidential Realty

Arizona Real Estate Experts

  • Home
  • Buy a Home
  • Sell My Home
  • About Us
  • Contact

FHA REO inventory up 47% from one year ago!

February 24, 2011 By Travis Larsen

There may be more HUD home bargains coming our way. With the mortgage melt down of 2008 FHA Loans were one of the only loans available for buyers. Since 2008 home values have continued to drop putting some home owners with new FHA loans under water. All HUD homes are FHA loans that have defaulted and have been taken back in foreclosure. Now is a great time to get with your registered HUD broker like Presidential Realty to see how you can take advantage of these opportunities.

See the article below

FHA REO inventory up 47% from one year ago

Tuesday, February 22nd, 2011, 6:20 pm

The Federal Housing Administration held 60,739 properties repossessed through foreclosure on its books as of December 2010, up 47% from the year before.

The current value of those properties is $9.1 billion, according to the FHA book of business report released Tuesday. Combined with Fannie Mae and Freddie Mac‘s third quarter numbers, the U.S. government holds roughly 360,000 REO properties.

 

Reselling these properties is key to driving the housing market into recovery. Estimates are wide-ranging on the size of this shadow inventory of foreclosed homes and delinquent loans still in the process.

Currently, the data provider CoreLogic (CLGX: 20.06 0.00%) estimates it to be at roughly 1.3 million properties for the entire industry. Capital Economics on Tuesday released a report estimating it to be closer to 5.3 million homes.

More could be coming in the way from the FHA alone. According to the report, nearly 600,000 mortgages are in serious delinquency. That represents 8.78% of the FHA insurance in force.

With such high levels of problem loans and devalued properties after foreclosure, house prices are expected to decline throughout 2011, Capital Economics said.

This article was posted on Housing Wire financial news for the mortgage market written by Jon Prior.

Prior, Jon.” FHA REO inventory up 47% from one year ago”

Housingwire. 22 February 2011

Presidential Realty Registered HUD Broker for APACHE JUNCTION, PHOENIX, CASA GRANDE, CHANDLER, FOUNTAIN HILLS, GILBERT, GLENDALE, GOODYEAR, HIGLEY, MARICOPA, MESA, PARADISE VALLEY, PEORIA, QUEEN CREEK, RIO VERDE, SCOTTSDALE, TEMPE, TOLLESON, SURPRISE, GOLD CAYNYON, AVONDALE, EL MIRAGE, LAVEEN, MARICOPA COUNTY, PINAL COUNTY AREAS

Filed Under: Uncategorized

About Travis Larsen

Travis Larsen is a dedicated real estate broker specializing in distressed properties including REO's (bank owned) & Short Sales, as well as traditional real estate.

He services the entire Phoenix Metro area including Gilbert, Tempe, Scottsdale, Chandler, Mesa, Queen Creek, Cave Creek, Carefree, Avondale, Tolleson, Glendale, Peoria, Anthem, Maricopa & Pinal Counties

Travis says, “I love this business and most of all I love helping others achieve their goals. There's nothing like the look on the faces of the happy buyers when they get the keys to their brand new home or the joy of a Seller when they get the word their home has just closed and recorded.”

Real Estate Search

Testimonials

We had our home listed with an agent for more than 198 days with little traffic and no offers…..we hired the Presidential Realty team …after a short time their unique marketing approach paid off! We received 98% of our asking price.

~ Darin R, Scottsdale

About Me

The Presidential Realty REO Division works directly with banks, mortgage lenders and asset management companies to assist in the sale of their bank-owned properties. The division also works with families in financial distress to help them sell their properties before foreclosure becomes the last resort as well as assists local investors in finding foreclosed properties available to rehab or rent. Read More…

  • Facebook

About Us

Presidential Realty is your real estate professional brokerage for homes and Real Estate services in the Phoenix area including Mesa, Chandler, Gilbert, Tempe, Ahwatukee, Queen Creek, Apache Junction, and Gold Canyon. With your best interests as our number one priority, our team of agents are willing to do what ever it takes to get the job done fast and dependably.We have the support of a thorough, professional office staff and we work as a team to make your real estate experience a positive one.

Office Locations

Please feel free to stop by and talk to us in person.

Mesa 4856 E. Baseline Rd #106 Mesa, AZ 85206

See Location

  • Become an Agent
  • Contact Info

Copyright © 2023 · Log in