With all of the talk about Ghost Inventory back in the day, it does not seem like that is going to happen.
We watch the NOD and Bank Owned filings within our Foreclosure Radar System. It would seem to me that there is a lot that goes on outside of the “public view”.
One of those such things is banks buying other banks reo inventory. There are also a lot of sales going in the way of “bulk” to the big money investors.
With the investors buying at bulk – not all is lost – those properties don’t make it into the “appraisers” pricing guidelines and most of those homes are positioned to be “flipped”.
However, one of the things that the “investors” of the world, at least some of them, are doing, that is not helping, is buying Santa Clarita real estate without getting properties appraised before pressing the trigger.
This is causing a localized inflation trend with regard to housing prices.
- Paris911.com/foreclosureradar – click this link to access our FR system to search for the NOD’s and the Bank owned listings that are not on the market for sale (yet).
- Bulk Sales – This is when the “big money” usually from hedge funds, private or corporate level investors, buy’s a group of REO’s – Real Estate owned – listings from a bank. Typically amounts can be 25-75 properties to be acquired – 5-20 million dollars and bought somewhere between 50 and 65 cents on the dollar. Very little time for investigations and properties cannot be guaranteed to be free of liens, tax, hoa or otherwise.
- Flipped – Like the popular A and E show – “flip this house”, you can see some of what the “singular or multi level real estate syndicates” might get into. Buying low and selling for a profit, pre negotiated before the purchase, most of the Home Flippers can make a 25%+ return on their initial investments. However, there comes a time where an investor may lose – such as the bottom falling out of a real estate market or hooking up with a realtor that is more focused on their commission than the long term relationship.
While real estate may feel like a mystery – there is always a place you can turn to gather the intel that will help educate you and bring you up to speed. Paris911.com/subscribe
From wanting to buy a simple condo or wanting to sell realtor.paris911.com your fifth home to buy your sixth – teaming up with a top real estate agent is going to be your key to success. Excuse the pun (key) = (home) = Paris911.com