Thursday, September 19, 2013

, What inventory shortage? 8.3 million homes resurfacing

New bank-owned homes uploaded to RealtyTrac.
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What inventory shortage? 4.5 million homes just resurfaced.

Find for-sale inventory before it's listed.
8.3 million under water homeowners about to resurface with enough equity to sell
A recent RealtyTrac report on underwater loans and home equity found 8.3 million homeowners nationwide who will regain enough equity to sell their homes in the next 15 months. Many of those homeowners will be listing their homes for sale in the coming months, but RealtyTrac can help you identify and contact them even before they list! Try RealtyTrac Free for 7 Days.

1 in 4 homes in foreclosure now has positive equity
The same RealtyTrac report found that rapidly rising home prices over the past 15 months have left more than 125,000 homes in foreclosure with positive equity - meaning they can be sold without resorting to the often-complex and lengthy short sale process.

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Top 10 States: Resurfacing Equity
State Homes Resurfacing
California 1,011,811
Texas 825,772
Florida 703,474
Ohio 389,763
Illinois 381,981
Pennsylvania 350,175
North Carolina 331,212
Washington 302,637
Colorado 270,372
New York 268,749
Top 10 Metros: Foreclosures with Equity
State Foreclosures with Equity
New York, NY 21,524
Miami, FL 11,434
Chicago, IL 7,861
Philadelphia, PA 5,657
Los Angeles, CA 4,806
Tampa, FL 3,725
Orlando, FL 3,019
Riverside, CA 2,170
Dallas-Fort Worth, TX 2,149
San Francisco, CA 1,879

Rising Home Prices Might Help 8.3 Million Borrowers Avoid Short Sales
By Shanthi Bharatwaj, Sept. 5, 2013
NEW YORK (TheStreet) -- Underwater borrowers have reason to hope. According to a new report from RealtyTrac, if home prices continue to gain at this pace, an estimated 8.3 million borrowers could be on track to regain equity in their homes allowing them to sell. Read full story.

Agents target unlisted foreclosures with more success
By Teke Wiggin, June 20, 2013
Fabi Soliemani, owner of Los Gatos, Calif.-based Synoptic Real Estate Group, was able to pull off such a deal this year. After identifying an unlisted home in foreclosure with RealtyTrac's search engine in early 2012, Synoptic tried but failed to negotiate a short sale with the homeowner's lender. But in March 2013, after a leap in home prices, Synoptic pulled off a sale. And it wasn't a short one: The seller actually pocketed money. Read full story.

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