Get a current Bank Owned Inventory List for Philadelphia: ( Select North West & North East Neighborhoods)
at http://BankOwnedWeekly.com/Philadelphia
April 10, 2011
April 02, 2011
March 06, 2011
February 05, 2011
Philadelphia - Bank Owned Weekly Inventory (Week of 2/6)
Get a current Bank Owned Inventory List for Philadelphia: ( Select North West & North East Neighborhoods)
at http://BankOwnedWeekly.com/Philadelphia
January 20, 2011
Existing home sales jump 12%
By Blake Ellis, staff reporterJanuary 20, 2011: 11:01 AM ET
NEW YORK (CNNMoney) -- Sales of existing homes jumped in December, marking the fifth month of gains in the past six months, based on an industry report released Thursday.
Previously-owned home sales climbed 12.3% in December to an annual rate of 5.28 million, from 4.70 million in November, according to the National Association of Realtors.
The December rate came in much higher than expected. A consensus of experts surveyed by Briefing.com had forecast an annualized sales rate of 4.8 million. However, sales were down 2.9% from 12 months earlier and fell 4.7% in 2010.
"December was a nice finish to the year, but looking at the bigger picture -- home sales and prices have been scraping along the bottom for the last three years," Hoffman said. "So, while we're not digging a deeper hole -- the housing market is still quite weak, and there are still more homes available on the market than there are likely to be buyers."
The median price of all existing homes sold in December was $168,800, down 1% from a year ago.
Meanwhile, the inventory of homes on the market fell 4.2% in December to 3.56 million units. That's enough inventory to last 8.1 months, and is down from a 9.5-month supply in November.
While that's an improvement, Hoffman said that data doesn't reflect the large number of foreclosures that could soon enter on the market.
"What's hidden behind the curtain are potential foreclosures adding to those inventory levels," he said. "Even as we have jobs growing, inventory is still large and more foreclosures are going to be coming on the market. Prices will go down and it's going to continue to be very much a buyer's market."
That said, Hoffman expects sales to gradually improve -- rising about 4% or 5% -- by the end of 2011, as the employment picture improves.
"I do think there will be more sales in 2011, because job growth will support homebuyers," Hoffman said. "We're getting back to the underlying demand without the homebuyer tax credit, but housing is still not contributing much to the overall economic improvement in the economy." 
January 06, 2011
BankOwnedWeekly.com/Montco
Get a current Bank Owned Inventory List for E Montgomery County:
at http://www.BankOwnedWeekly.com/Montco
December 02, 2010
September 19, 2010
August 03, 2010
Bank Owned Homes and Foreclosures
Everyone knows: foreclosure properties are HOT. Between investors looking for rental properties to ride out the market slump and regularfolks looking for a great opportunity, it seems everyone wants foreclosure information. Are people getting what they want? Foreclosures and Bank Owned properties can save the buyer money, but those buyers must set those expectations properly. Many people are trying to 'steal' properties and wasting agents time with ridiculous propositions like thinking they can obtain a $200-$300K property for $75,000 or something like that. Most buyers don't know that the average discount from list price for foreclosed properties is averaging 27% and buyer must set that expectation. My websites www.BankownedWeekly.com/montco and www.BankownedWeekly.com/MtAiry gives you access to inside information normally available only toreal estate agents and industry insiders. One word of advice: while you can save up to 1/3 the price of a home that is in foreclosure, it is unrealistic to expect to acquire a property formerly priced at $300,000 (for example) for $50,000. Please have realistic expectations and you will be pleasantly surprised With almost half of all real estate sales involving foreclosures in the first quarter of this year, this is something you need to know about.
July 27, 2010
Get a current Bank Owned Inventory List for E Montgomery County:
at http://www.BankOwnedWeekly.com/Montco
J Wayne Joell
Formerly of WDAS-FM 1964-2001
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