Bank Owned Foreclosure of the Week 2/24

Bank Owned, Available Now, NOT a Short Sale

Two Story, Built 2003, 2 Car Garage. 4 Bedroom, 2.5 Bath, Cul-de-Sac Location, 2332 Heated SF

Situated at the end of a low traffic cul.de.sac with pond view to rear.  4 bedroom, 2.5 bath two story features formal living and dining rooms with separate family room open to kitchen and informal dining space.  All bedrooms are on the second level.  Kitchen has work island.  The garage has been partially finished and has a wall unit A/c + french doors opening to the back yard

Complete Details: http://bit.ly/9bIici

Open House Schedule –> http://bit.ly/d5IAcd

A Buyers Dream, High REO Inventory

Once again the numbers are in and the Foreclosure problem is spreading.  Yesterday RealtyTrac released the 2009 Year-End U.S. Foreclosure Market Report.  Florida and three other states accounted for more than 50 percent of the national total in 2009.

“While it was expected that cities from states with the highest levels of foreclosure activity would top the charts, there is evidence that we’re entering a new wave of foreclosures, driven more by unemployment and economic hardship than what we’ve seen over the past few years,” said RealtyTrac CEO James J. Saccacio.

Fannie Mae to assist buyers

Fannie Mae is offering up to 3.5% in closing-cost assistance to any owner-occupant who purchases a Fannie Mae property listed before May 1, 2010.   Eligible properties list can be obtained by emailing info@coldwellbankerackley.com or by searching on Fannie Mae’s Home Path website.

Orlando No. 7 in 2009 foreclosures

“The Orlando metropolitan statistical area posted an 8.2 percent year-end foreclosure rate, with one in every 12 households receiving a filing. A total of 72,141 filings — including notices of default, auction notices and bank repossessions — were filed on Orlando MSA homes last year, a 54 percent jump when compared with 2008’s 46,843.

Osceola County, meanwhile, had the highest foreclosure rate in the Orlando MSA with 12.5 percent, or one in every eight homes receiving a filing.  The Orlando MSA was one of eight Florida metro areas among the nation’s top 20 with the highest foreclosure rates. Only California had more, with nine MSAs in the top 20.”

Full Article

Homes Sales Up 9th Month Straight

The Washington Business Journal reports that pending homes sales, rose 3.7 percent in October according to the National Association of Realtors. In addition the NAR predicts a balance between buyers and sellers by the middle of 2010.

Full Article