Distressed Property Blog

Have you heard about minimum service requirements for real estate brokers? If not, check this out (courtesy of the U.S. Department of Justice):
A number of states have enacted laws that require consumers to purchase brokerage services they may not want, with no option to waive the extra items. These so-called “minimum service” laws diminish […]

Starting on the 23rd of April, thousands of RE/MAX websites went live with “a new consumer foreclosure property search feature,” according to company officials. The new functionality is reportedly part of a strategic partnership between four independently owned RE/MAX Regions and RealtyTrac (a leading source of foreclosure data). Reliance Network, a developer of Web-based applications […]

While it may seem like a stretch to invest in distressed properties out of state, that is exactly what some savvy investors are doing. For out of state investors, buying homes in foreclosure hotspots like Detroit is, as one investor put it, like buying up “unpolished diamonds.”
In a market where “credit is tight and […]

Ruth Simon and James R. Hagerty take a look at why lenders may be leery of short sales in today’s The Wall Street Journal. The article is definitely worth the read.
A recent study cited in the article by Clayton Holdings, Inc. (which tracks more than $500 billion in mortgage loans monthly for investors), finds short […]

In a blog entry a couple of weeks ago, I suggested you take your lead from the big boys when it comes to approaching real estate. Times are tough for real estate agents all over the country, but as James Hagerty, who has covered housing and economics for The Wall Street Journal since January 2004, […]

A friend of mine sent me an op-ed from the Boston Globe which asked the question:
“What do ethanol and the subprime mortgage meltdown have in common?”
While it might sound like I joke, I thought the answer was good food for thought.
“Each is a good reminder of that most powerful of unwritten decrees, the Law of […]

In the late 1980s, Colorado Springs, Colorado was frequently called the foreclosure capital of the world, which got me thinking about how those “Springians” are doing now. After calling a few business contacts and reading up on the local news, it seems the news is—like most places in the country—mixed. Actually, at times, it’s downright […]

I just got off the phone with someone who got burned while trying to cut corners when investing in a foreclosure. I could tell you a million horror stories like his, but I won’t. Instead, I offer this simple piece of advice:
Use a real estate professional experienced in foreclosure sales when investing in a foreclosure. […]

“This is as good a distressed environment as we’ve seen in a long time,” says John Grayken. He is the managing partner at Lone Star Funds, which is attempting to raise as much as $10 billion for an opportunity fund to purchase residential mortgages, office buildings and hotels. “It’s a race among a number of […]

As Congress returns to Washington after the spring recess, the Democrats will be challenging the following statement by President Bush:
“The temptation in Washington is to say that anything short of a massive government intervention in the housing market amounts to inaction. I strongly disagree with that sentiment. I believe there ought to be action, but […]