Skip to main content

A Decline In foreclosures and REO properties nationwide! Team Thayer #foreclosure #reo #realestate #market #housing #news #oregon

jarofcashThe lengthy, sustained nationwide decline in the number of foreclosures and REO properties nationwide in the last five and a half years has been largely responsible for a similar decline in the share of residential home sales that are all-cash transactions, according to data from CoreLogic released Thursday.
The share of home sales that were all cash dropped by 2.5 percentage points in February down to 35.7 percent and have averaged 35.6 percent over the first two months of 2016—the lowest share to start any year since 2008, immediately prior to the crisis.
By comparison, the cash sales share peaked at 46.6 percent in January 2011 and averaged about 25 percent prior to the crisis. CoreLogic estimates that at the rate of decline experienced in February 2016, the cash sales share should return to its “normal” pre-crisis level in the middle of 2018.
“Foreclosure completions have fallen substantially over the past few years across the nation.  This has led to a drop in REO sales,” CoreLogic Chief Economist Frank Nothaft said recently. “Roughly one-half of REO homes are bought for all cash. Thus, the drop in REO has been an important reason for the national decline in the cash share of all sales.”
5-19 Cash Sales GraphAbout 59.2 percent of all REO sales in February were all cash, giving REO the largest cash sales for the month, as historically has been the case. The category with the second-highest cash sales share was resales, with 35.6 percent, followed by short sales with 32.6 percent. Newly constructed homes had a cash sales share of 15.2 percent in February. Though the share of REO transactions that were all cash remained high, REO accounted for only 7.8 percent of all residential home sales in February—about one-third off of its peak of 23.9 percent from January 2011. Resales make up the largest share of total home sales (about 79 percent in February) and therefore have the largest impact on cash sales share.
The state with the highest cash sales share in February was Alabama, with 51.7 percent, followed by Florida with 49.2 percent. The metro area with the highest cash sales share in February was Philadelphia with 54.8 percent, followed by Detroit with 53.4 percent, according to CoreLogic.
Click  link Below To Find Foreclosed Homes In Oregon


Team Thayer www.teamthayer.com
Location: Eugene, OR 97401, USA

Popular posts from this blog

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread...
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

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