Skip to main content

How Far Has The Bank Foreclosure / REO Market Fallen? Team Thayer #realestate #foreclosure #foreclosures #reo #bankowned #oregon #housing #investor #market

The steep decline in the number of REO properties in the last five years or so since the foreclosure crisis peaked has been one of the buzz topics in the mortgage industry. As more jobs are added each month and the unemployment rate has dipped to pre-recession levels, the number of foreclosed homes has seen a corresponding substantial decline.
Just how many fewer REO properties are out there now compared to the total of REO properties at the peak of the crisis? The FHFA’s Foreclosure Prevention Report for Q4 2015 said that Fannie Mae and Freddie Mac owned a combined total of 72,783 REO properties as of the end of the fourth quarter—less than a third of their peak total of slightly more than five years earlier—in Q3 2010, Fannie Mae and Freddie Mac owned a combined total of approximately 242,000 REO properties. That quarter, property acquisitions outpaced dispositions by the count of 124,000 to 74,000.
3-28 REO
The 72,000-plus REO properties owned by the GSES represented a decline of 6 percent from Q3’s total of approximately 77,000. The 6 percent over-the-quarter decline was attributed to property dispositions outpacing acquisitions by the count of 25,531 to 21,100 during the quarter. The 21,100 acquisitions represented a decline of 6 percent, while the 25,531 dispositions represented a decline of 20 percent over-the-quarter for Q4.
According to FHFA, about 14 percent of the GSEs’ REO inventory was located in Florida during the fourth quarter of 2015 (about 10,000 properties). About 19 percent of the inventory was concentrated in four Midwestern states (Illinois, Indiana, Michigan, and Ohio).
While the number of REO properties owned by Fannie Mae and Freddie Mac in Q4 2015 was approximately one-third of its peak total from five years earlier, the number of completed third-party and foreclosure sales was less than one-fifth of its peak total from Q3 2010. During the fourth quarter of 2015, there were 25,096 foreclosures completed on Fannie Mae- and Freddie Mac-owned single-family residential properties; in Q3 2010, foreclosure completions reached their peak total of 138,000. Likewise, foreclosure starts also peaked in Q3 2010 at 339,000 but by Q4 2015 had declined to 65,000.
Click here to view the FHFA’s entire Foreclosure Prevention Report for Q4 2015.


Team Thayer www.teamthayer.com

Justin Lee Thayer is Lane counties expert in market analysis for real estate investors. Call Justin @ 541-543-7287
Location: Eugene, OR 97401, USA

Popular posts from this blog

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...
Read more

Understanding the tax advantages and disadvantages of homeownership #realestate #taxadvantage #taxes #housing #market

It’s no secret that some of the major perks of homeownership are the tax write-offs and advantages that follow the purchase. In fact, according to a 2015 survey by the National Association of Realtors, 80% of homebuyers see homeownership as a good investment, and 43% think it’s better than investing in the stock market. Reaping the rewards of mortgage interest and property tax deductions is just one way to think of your home as an investment. But there are even more real estate–related tax advantages and disadvantages that can slip under a new homeowner’s radar. It can be relatively easy to trigger tax liabilities or perks (and then fail to claim them) on that new piece of  Eugene, Or, real estate . This is why it’s essential to touch base with your tax pro before every real estate transaction, no matter how minor a question you may have. Sometimes planning and timing make a major difference in the financial impact of a real estate–related tax; other times, ...
Read more

4 Financing Tips For Your Rental Property! Team Thayer #realestate #realestateinvestor #investor #housing #market #rentals #mortgage #news #oregon

With the  spring real estate market  firing on all cylinders, it’s no wonder we are seeing investors come out in record numbers.  Real estate exit strategies  ranging from  wholesale deals  to full rehabs  have become incredibly attractive in today’s housing industry. However, one strategy in particular looks to be in a great place: buy and hold  rental property . Cash flow opportunities are through the roof, as rents are soaring in nearly every city from  San Diego  to  New York . Now may be one of the best times ever to acquire a rental property. However, those that have yet to do so should mind due diligence and consider what they are getting into before they make the jump. While there are a myriad of things potential landlords should consider before financing their first rental property, I highly recommend starting with the following four: Rental Property Consideration 1: The Numbers Prospective rental property buyers...
Read more