Comments on: Are You Interested In Bank Owned Homes?

By: Susan@AV Homes

Susan@AV Homes — Wed, 21 Jul 2010 04:12:27 +0000

I knew the banks lose a lot of money when they take back a home, but you’ve really given a detailed description of what they pay for while they hold onto the house. It makes sense for them to want to get rid of it as fast as possible.

By: jinnie@mobile banking credit union

jinnie@mobile banking credit union — Tue, 22 Dec 2009 10:28:48 +0000

The Bank now days is as important as the banker. When WAMU was bought out by Chase and they start playing the old switch-a-roo without notification of changes. Your good old banker could do nothing for you.

By: GK @ Find A Person For Free

GK @ Find A Person For Free — Tue, 24 Nov 2009 15:47:55 +0000

Aren’t those bank owned properties also called REO’s?

I tried to do that one time and ran into what the article talks about. Trying to find the head person in the bank to negociate was a nightmare.

By: Geoff@San Diego Foreclosure Properties

Geoff@San Diego Foreclosure Properties — Sun, 23 Aug 2009 23:52:32 +0000

Bank-owned homes are the easiest way for an investor to grab a great real estate bargain. Most banks are pricing their San Diego foreclosures at least 20% below the "market value" of non-distressed properties. There is a lot of competition, so it pays to be first and to have all of your ducks in a row. This means being pre-approved for the best possible mortgage loan with a direct lender. It helps to have cash, because banks lean toward all-cash offers, and are usually willing to sell the property to all-cash investors at even lower prices. .-= Geoff@San Diego Foreclosure Properties´s last blog ..San Diego Home Prices Cut $59M ? =-.

By: GS@ San Diego Foreclosure Properties

GS@ San Diego Foreclosure Properties — Sat, 15 Aug 2009 06:50:36 +0000

Bank owned properties are the hottest ticket in town in San Diego. Almost every foreclosure property that comes on the market receives multiple offers in the first few days. The bank strategy of underpricing the foreclosure homes for sale in San Diego has been wildly effective. The inventory has been tight, but there are credible rumors that a whole load more foreclosures will be released in September. I'm betting that there is sufficient demand to absorb the new inventory. But buyers will be able to be much more selective, and the banks may actually have to do some renovations of the homes before they sell. .-= GS@ San Diego Foreclosure Properties´s last blog ..San Diego Home Prices Cut $59M ? =-.