Saturday, June 18, 2016

First-Time Foreclosure Starts are Stalling! Team Thayer Real Estate News #housing #realestate #oregon


First-Time Foreclosure Starts are Stalling
Foreclosure Three BHWhile foreclosure starts were at an 11-year low in April, the number of first-time foreclosure starts was even lower, falling to levels not seen since the turn of the century, according to data from Black Knight Financial Services.
Foreclosure starts have always been a volatile metric, having experienced many ups and downs over the last few years—some largely due to seasonality. In April 2016, there were 58,700 foreclosure starts, the lowest total for one month since April 2005. But first-time foreclosure starts for April 2016 totaled a mere 25,800, which is the lowest monthly total on record dating back to the year 2000, according to Black Knight.
The seasonality of 90-day default activity is partially responsible for the low foreclosure start numbers in April. In 10 of the past 12 years, 90-day delinquencies have hit their calendar year low in March, which subsequently leads to an over-the-month decline in foreclosure starts in April, Black Knight reported.
The low number of foreclosure starts cannot be blamed solely on seasonality, however.
“Improved mortgage performance has also led to a reduction in foreclosure starts,” Black Knight reported. “March saw the lowest one-month volume of 90-day defaults in 11 years, down 11 percent from last year and down 82 percent from the January 2009 peak. Additionally, the ratio of new foreclosure starts to 90-day defaults is lower than pre-crisis norms, likely due to an increased focus on pre-foreclosure loss mitigation.”
Since 90-day delinquencies typically fall to their calendar year low in March, it typically leads to an over-the-month seasonal increase in the overall delinquency rate, which includes all residential properties 30 days or more overdue but not in foreclosure. Black Knight reported an overall delinquency rate of 4.24 percent in April (about 2.14 million properties), which was a 3.77 percent increase from March. This computed to an increase of about 84,000 properties.
Click  link Below To Find Foreclosed Homes In Oregon


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6-13 BK graph

Foreclosure Rate Falls to New Post-Crisis Low The nation's foreclosure rate and serious delinquency rate in April both fell to post-crisis lows amid home price appreciation and labor market improvements, according to data released by CoreLogic on Tuesday.

Foreclosure Rate Falls to New Post-Crisis Low

Need further proof that the housing crisis is over? CoreLogic’s April 2016 National Foreclosure Report provides it.

The nation's foreclosure rate and serious delinquency rate in April both fell to post-crisis lows amid home price appreciation and labor market improvements, according to data released byCoreLogic on Tuesday.
CoreLogic found that foreclosure inventory, or the number of residential homes that are in some state of foreclosure, declined by 23.4 percent over-the-year to about 406,000 homes—representing about 1.1 percent of all homes with a mortgage. The 1.1 percent foreclosure rate is the lowest for any one month since September 2007.
The number of seriously delinquent mortgages—mortgages 90 days or more overdue or in foreclosure or REO—fell by 21.6 percent over-the-year in April down to about 1.1 million mortgages, representing about 3 percent of all homes with a mortgage. The 3 percent serious delinquency rate is the lowest for any one month since October 2007.
“The recovery in home prices and improved labor market have contributed to the drop in seriously delinquent rates,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Over the 12 months through April, the CoreLogic Home Price Index for the U.S. rose 6.2 percent and the labor market gained 2.6 million jobs. We also found that the seriously delinquent rate fell by about three-quarters of a percentage point.”
6-14 CoreLogic graph

The number of completed foreclosures for April totaled approximately 37,000, which is a decline of about 15.8 percent from April 2015’s total of 43,000. While 37,000 foreclosures in one month is nearly a 70 percent decline from their peak of 118,000 in September 2010, it is still elevated from the pre-crisis monthly average of about 21,000 from 2000 to 2006.
About 6.2 million homes have been lost to foreclosure since September 2008, when the financial crisis began. Since homeownership rates peaked in 2004, about 8.3 million homes have been lost to foreclosure.
“The number of homeowners who have negative equity has fallen by two-thirds since its 2010 peak, and the number of borrowers in foreclosure proceedings has also continued to drop,” said Anand Nallathambi, president and CEO of CoreLogic. “Despite this progress, about four million homeowners remained underwater at the end of the first quarter, and these borrowers are more vulnerable to foreclosure proceedings if they should fall delinquent.”
lick  link Below To Find Foreclosed Homes In Oregon


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Wednesday, June 1, 2016


Mortgages Driving Overall Delinquency Improvement
American Money BHRepayment rates generally improved for all types of loans in the first quarter, with about five percent of outstanding debt in some form of delinquency, according to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit.
According to the New York Fed, the decline in overall delinquencies in Q1 was largely due to continuing improvement in the number of mortgage delinquencies, despite a slight uptick in the share of mortgages that were 90 days delinquent from the previous quarter (from 2.1 percent up to 2.2 percent).
“Delinquency rates and the overall quality of outstanding debt continue to improve," said Wilbert van der Klaauw, SVP at the New York Fed. "The proportion of overall debt that becomes newly delinquent has been on a steady downward trend and is at its lowest level since our series began in 1999. This improvement is in large part driven by mortgages.”
Fewer consumers filed for bankruptcy in Q1; about 207,000 consumers added a bankruptcy notation to their credit report during the quarter, which was a decline of 19 percent from the same quarter in 2015.
5-31 New York Fed Graph
With the continued improvements in mortgage delinquencies came an increase in the amount of overall household debt, by $136 billion over-the-quarter and by $401 billion over-the-year up to $12.25 trillion. About two-thirds of overall debt was mortgage debt, which totaled $8.37 trillion in Q1, a four-and-a-half year high—and an increase of $120 billion over-the-quarter and $198 billion over-the-year.
A rise in median credit score of newly originated mortgages could mean that fewer of these loans will default down the road. Approximately 58 percent of all new mortgage dollars went to borrowers with credit scores of higher than 760, according to the New York Fed. According to the AEI International Center on Housing Risk, the median credit score for all individuals with a score is 713.
5-31 New York Fed Graph
5-31 New York Fed Graph

Super Successful Guy Justin Lee Thayer explaines success!

The state auction process can open up a world of opportunities for investors ll go !

Understanding how to navigate the real estate auction process can open up a world of opportunities for investors in the know. After all, auctions have quickly become one of the most convenient, private and efficient means of finding deals. Where else can you expect others to bring investment properties to you on the proverbial silver platter? Whether you are a seasoned veteran or new to the game, real estate auctions are a great source of deals.
However, auctions, not unlike many of the tried and true exit strategies of the industry, have become synonymous with their own terms, lingo and methodology. Don’t let the inherent ubiquity of an auction trick you into thinking it will be easy; to really take advantage of the process you must put in a lot of work on your end. What it takes to successfully navigate the real estate auction process is unlike any other real estate investment strategy. That said, I want to encourage you to learn as much as you can about making offers at an auction. Familiarize yourself with the strategy and find out for yourself just how great they can be.
If for nothing else, people are scared of what they do not understand, and auctions are no exception. Even though they are a great way to find real estate deals, far too many people tend to avoid them for the simple fact that they are a foreign concept. Nonetheless, I encourage you to step out of your comfort zone and learn what you can about the real estate auction process; your bottom line may thank you for doing so.

5 Steps To Help You Through The Real Estate Auction Process

Not unlike every other method devoted to finding real estate deals, the more you are able to comprehend about a real estate auction, the better your chances of landing a great deal are. Do yourself a courtesy and place the odds in your favor by familiarizing yourself with the 5 steps you must complete to acquire an auction property at a price you deem appropriate.
Real estate auction tips
1. Get Your Finances In Order
Bidding at a real estate auction on REO properties will require a lot of due diligence and, above all, an understanding of your current financials. Not unlike other exit strategies, the real estate auction process will require you to arrange your financing ahead of time. Take the time to line up financing if necessary, and be prepared to have it on hand at the auction.
In the event you are using private money or a traditional lending institution, be sure to iron out everything before the auction. You must know how much money you have before you make a bid, as you will be required to pay immediately. At the very least, understanding how much you are capable of spending will narrow down the pool of candidates. It’s impossible to know which houses to bid on over the course of the real estate auction process without having a budget.
While the exact procedure can vary from state to state, and even between property types, the real estate auction process is typically accompanied by one constant: a majority of auction trustees will require each individual to have their respective bidding amount in the form of either cash or a cashier’s check. In other words, you had better have the means to purchase a property close by and easily accessible. You will be expected to pay for the property on site, and should therefore come ready. To be certain, check with the auction you intend to attend beforehand and see which their preferred method of payment is.
2. Locate Auctions With The Properties You Want
While everyone has heard of a real estate auction, I am sure few have actually been to one, or even seen one for that matter; it’s not like they are advertised in the most obvious of places.
You will need to do a little research on auctions in your area. Find out where they are located and when they typically occur. I recommend signing up for emails from auction companies, looking for foreclosure auction notices in the local paper, and searching public records (in person or online). The following highlights some of the best ways to find the real estate auctions that meet your needs:
  • Public Records: Foreclosure notices are public record, and can easily be seen by visiting the County Clerk’s office. In order to make your search easier, however, keep an eye out for a Notice of Sale or Notice of Default. These particular notices identify properties that are most likely going up for auction sooner rather than later.
  • Online: There are several online portals dedicated to serving those intent on attending real estate auctions. Foreclosure.com, for example, lists all of the properties that have already been foreclosed on and are simply waiting to be auctioned off. It is important to note that this service isn’t free.
  • Traditional Institutions: Banks and lenders are interested in removing non-performing loans (foreclosed properties) from their books, and are therefore likely to advertise the properties they plan to put up for auction. Check their website or inquire in person.
  • Government Database: If the other outlets on this list come up short, consider referencing government databases. Properties expected to be foreclosed on but guaranteed by the government are often sold at auction. Try inquiring with the FHA, VA and other government programs to see which properties they might place up for auction. Consider starting your search at places with first-time homebuyer loans.
Pay close attention to the specific properties that are being placed up for auction. You want to be sure you can acquire a home that meets your criteria or specific exit strategy. Keep tabs on the real estate auctions that have properties you can work with and go from there. This way you will not waste time visiting auctions without potential. The real estate auction process is tricky enough without having to needlessly waste your time.
3. Run The Numbers
Investing in real estate does coincide with an inherent degree of risk, but that doesn’t mean you can’t place the odds in your favor. In fact, a little due diligence can go a long way in mitigating ill-advised circumstances.
Before you fall in love with a property, do what we in the business like to call “running the numbers.” Do a little research and determine for yourself whether the house you are interested in is a sound investment opportunity. Find out the estimated market value of the property and how much is owed on it, but don’t stop there. Before you even attend the auction, pay a visit to the house in question and look at it first-hand. Conduct your own inspection and confirm the descriptions provided by the trustees; this is one of the best real estate auction tips you will ever hear. As an investor, you should pay close attention to not only the house, but the neighborhood as well.
Above all, take what others tell you with a grain of salt. You, and you alone, should be the sole decision maker. Confirm everything you have been told and proceed onto the next step.
4. Complete A Title Search
Provided you are able to locate a property that meets all of your criteria and the numbers make sense from an investor’s standpoint, prepare to dig a little deeper. For starters, you will want to confirm or deny any liens that have been placed on the property. Not unlike the homes up for auction themselves, this information is public record. Finding out if a property has any liens against it is as simple as asking the appropriate authorities.
It is important to note that any property with a lien against it may require the winning bidder to satisfy any obligations before taking ownership. That said, the real estate auction process certainly has some hidden costs. With a little due diligence, however, it is entirely possible to foresee any and all scenarios; just be certain that you know what you are getting into. I highly recommend enlisting the services of a real estate attorney or title company to verify that the home is free of liens.
Of all the real estate auction tips I can impart on you, this may be the one worth remembering. The last thing you want to do is bid on a property that has liens against it you can’t afford, or that eat away at your bottom line.
5. Place A Bid
Before you commit, or place a bid in this case, make sure you know the status of the home. Things can change in an instant, and the home you thought would be up for auction may have been removed from the block for one reason or another. Once you have confirmed that the home you want is in fact up for auction, determine how much you are willing to bid on it. Again, run the numbers and find out the maximum amount you can pay. There is a point where spending too much ruins a home’s viability as a real estate investment strategy, and it is up to you to determine that number. The last thing you want to do is get stuck with a property you payed too much for. Finally, with a good grasp on the real estate auction process, prepare to make your bid.
Remember, auctions will pit you up against other likeminded investors that probably have the same intentions as you. How you carry yourself will go a long way in landing you the deal. Try to fit in as best you can, and don’t let the actions of others dictate how you bid. As long as you have done your homework beforehand, you will know how much you can spend. Don’t, I repeat do not, bid more than you predetermined. Remember, those numbers were put there for a reason.
The real estate auction process has proven very lucrative for those investors that know how to take advantage of it; there is no reason you couldn’t be on this list. Start learning the ins and outs of auctions, and use these real estate auction tips to improve your odds.

Understanding how to navigate the real estate auction process can open up a world of opportunities for investors in the know. After all, auctions have quickly become one of the most convenient, private and efficient means of finding deals. Where else can you expect others to bring investment properties to you on the proverbial silver platter? Whether you are a seasoned veteran or new to the game, real estate auctions are a great source of deals. However, auctions, not unlike many of the tried and true exit strategies of the industry, have become synonymous with their own terms, lingo and methodology. Don’t let the inherent ubiquity of an auction trick you into thinking it will be easy; to really take advantage of the process you must put in a lot of work on your end. What it takes to successfully navigate the real estate auction process is unlike any other real estate investment strategy. That said, I want to encourage you to learn as much as you can about making offers at an auction. Familiarize yourself with the strategy and find out for yourself just how great they can be. If for nothing else, people are scared of what they do not understand, and auctions are no exception. Even though they are a great way to find real estate deals, far too many people tend to avoid them for the simple fact that they are a foreign concept. Nonetheless, I encourage you to step out of your comfort zone and learn what you can about the real estate auction process; your bottom line may thank you for doing so. 5 Steps To Help You Through The Real Estate Auction Process Not unlike every other method devoted to finding real estate deals, the more you are able to comprehend about a real estate auction, the better your chances of landing a great deal are. Do yourself a courtesy and place the odds in your favor by familiarizing yourself with the 5 steps you must complete to acquire an auction property at a price you deem appropriate. Real estate auction tips 1. Get Your Finances In Order Bidding at a real estate auction on REO properties will require a lot of due diligence and, above all, an understanding of your current financials. Not unlike other exit strategies, the real estate auction process will require you to arrange your financing ahead of time. Take the time to line up financing if necessary, and be prepared to have it on hand at the auction. In the event you are using private money or a traditional lending institution, be sure to iron out everything before the auction. You must know how much money you have before you make a bid, as you will be required to pay immediately. At the very least, understanding how much you are capable of spending will narrow down the pool of candidates. It’s impossible to know which houses to bid on over the course of the real estate auction process without having a budget. While the exact procedure can vary from state to state, and even between property types, the real estate auction process is typically accompanied by one constant: a majority of auction trustees will require each individual to have their respective bidding amount in the form of either cash or a cashier’s check. In other words, you had better have the means to purchase a property close by and easily accessible. You will be expected to pay for the property on site, and should therefore come ready. To be certain, check with the auction you intend to attend beforehand and see which their preferred method of payment is. 2. Locate Auctions With The Properties You Want While everyone has heard of a real estate auction, I am sure few have actually been to one, or even seen one for that matter; it’s not like they are advertised in the most obvious of places. You will need to do a little research on auctions in your area. Find out where they are located and when they typically occur. I recommend signing up for emails from auction companies, looking for foreclosure auction notices in the local paper, and searching public records (in person or online). The following highlights some of the best ways to find the real estate auctions that meet your needs: Public Records: Foreclosure notices are public record, and can easily be seen by visiting the County Clerk’s office. In order to make your search easier, however, keep an eye out for a Notice of Sale or Notice of Default. These particular notices identify properties that are most likely going up for auction sooner rather than later. Online: There are several online portals dedicated to serving those intent on attending real estate auctions. Foreclosure.com, for example, lists all of the properties that have already been foreclosed on and are simply waiting to be auctioned off. It is important to note that this service isn’t free. Traditional Institutions: Banks and lenders are interested in removing non-performing loans (foreclosed properties) from their books, and are therefore likely to advertise the properties they plan to put up for auction. Check their website or inquire in person. Government Database: If the other outlets on this list come up short, consider referencing government databases. Properties expected to be foreclosed on but guaranteed by the government are often sold at auction. Try inquiring with the FHA, VA and other government programs to see which properties they might place up for auction. Consider starting your search at places with first-time homebuyer loans. Pay close attention to the specific properties that are being placed up for auction. You want to be sure you can acquire a home that meets your criteria or specific exit strategy. Keep tabs on the real estate auctions that have properties you can work with and go from there. This way you will not waste time visiting auctions without potential. The real estate auction process is tricky enough without having to needlessly waste your time. 3. Run The Numbers Investing in real estate does coincide with an inherent degree of risk, but that doesn’t mean you can’t place the odds in your favor. In fact, a little due diligence can go a long way in mitigating ill-advised circumstances. Before you fall in love with a property, do what we in the business like to call “running the numbers.” Do a little research and determine for yourself whether the house you are interested in is a sound investment opportunity. Find out the estimated market value of the property and how much is owed on it, but don’t stop there. Before you even attend the auction, pay a visit to the house in question and look at it first-hand. Conduct your own inspection and confirm the descriptions provided by the trustees; this is one of the best real estate auction tips you will ever hear. As an investor, you should pay close attention to not only the house, but the neighborhood as well. Above all, take what others tell you with a grain of salt. You, and you alone, should be the sole decision maker. Confirm everything you have been told and proceed onto the next step. 4. Complete A Title Search Provided you are able to locate a property that meets all of your criteria and the numbers make sense from an investor’s standpoint, prepare to dig a little deeper. For starters, you will want to confirm or deny any liens that have been placed on the property. Not unlike the homes up for auction themselves, this information is public record. Finding out if a property has any liens against it is as simple as asking the appropriate authorities. It is important to note that any property with a lien against it may require the winning bidder to satisfy any obligations before taking ownership. That said, the real estate auction process certainly has some hidden costs. With a little due diligence, however, it is entirely possible to foresee any and all scenarios; just be certain that you know what you are getting into. I highly recommend enlisting the services of a real estate attorney or title company to verify that the home is free of liens. Of all the real estate auction tips I can impart on you, this may be the one worth remembering. The last thing you want to do is bid on a property that has liens against it you can’t afford, or that eat away at your bottom line. 5. Place A Bid Before you commit, or place a bid in this case, make sure you know the status of the home. Things can change in an instant, and the home you thought would be up for auction may have been removed from the block for one reason or another. Once you have confirmed that the home you want is in fact up for auction, determine how much you are willing to bid on it. Again, run the numbers and find out the maximum amount you can pay. There is a point where spending too much ruins a home’s viability as a real estate investment strategy, and it is up to you to determine that number. The last thing you want to do is get stuck with a property you payed too much for. Finally, with a good grasp on the real estate auction process, prepare to make your bid. Remember, auctions will pit you up against other likeminded investors that probably have the same intentions as you. How you carry yourself will go a long way in landing you the deal. Try to fit in as best you can, and don’t let the actions of others dictate how you bid. As long as you have done your homework beforehand, you will know how much you can spend. Don’t, I repeat do not, bid more than you predetermined. Remember, those numbers were put there for a reason. The real estate auction process has proven very lucrative for those investors that know how to take advantage of it; there is no reason you couldn’t be on this list. Start learning the ins and outs of auctions, and use these real estate auction tips to improve your odds.

Understanding how to navigate the real estate auction process can open up a world of opportunities for investors in the know. After all, auctions have quickly become one of the most convenient, private and efficient means of finding deals. Where else can you expect others to bring investment properties to you on the proverbial silver platter? Whether you are a seasoned veteran or new to the game, real estate auctions are a great source of deals.
However, auctions, not unlike many of the tried and true exit strategies of the industry, have become synonymous with their own terms, lingo and methodology. Don’t let the inherent ubiquity of an auction trick you into thinking it will be easy; to really take advantage of the process you must put in a lot of work on your end. What it takes to successfully navigate the real estate auction process is unlike any other real estate investment strategy. That said, I want to encourage you to learn as much as you can about making offers at an auction. Familiarize yourself with the strategy and find out for yourself just how great they can be.
If for nothing else, people are scared of what they do not understand, and auctions are no exception. Even though they are a great way to find real estate deals, far too many people tend to avoid them for the simple fact that they are a foreign concept. Nonetheless, I encourage you to step out of your comfort zone and learn what you can about the real estate auction process; your bottom line may thank you for doing so.

5 Steps To Help You Through The Real Estate Auction Process

Not unlike every other method devoted to finding real estate deals, the more you are able to comprehend about a real estate auction, the better your chances of landing a great deal are. Do yourself a courtesy and place the odds in your favor by familiarizing yourself with the 5 steps you must complete to acquire an auction property at a price you deem appropriate.
Real estate auction tips
1. Get Your Finances In Order
Bidding at a real estate auction on REO properties will require a lot of due diligence and, above all, an understanding of your current financials. Not unlike other exit strategies, the real estate auction process will require you to arrange your financing ahead of time. Take the time to line up financing if necessary, and be prepared to have it on hand at the auction.
In the event you are using private money or a traditional lending institution, be sure to iron out everything before the auction. You must know how much money you have before you make a bid, as you will be required to pay immediately. At the very least, understanding how much you are capable of spending will narrow down the pool of candidates. It’s impossible to know which houses to bid on over the course of the real estate auction process without having a budget.
While the exact procedure can vary from state to state, and even between property types, the real estate auction process is typically accompanied by one constant: a majority of auction trustees will require each individual to have their respective bidding amount in the form of either cash or a cashier’s check. In other words, you had better have the means to purchase a property close by and easily accessible. You will be expected to pay for the property on site, and should therefore come ready. To be certain, check with the auction you intend to attend beforehand and see which their preferred method of payment is.
2. Locate Auctions With The Properties You Want
While everyone has heard of a real estate auction, I am sure few have actually been to one, or even seen one for that matter; it’s not like they are advertised in the most obvious of places.
You will need to do a little research on auctions in your area. Find out where they are located and when they typically occur. I recommend signing up for emails from auction companies, looking for foreclosure auction notices in the local paper, and searching public records (in person or online). The following highlights some of the best ways to find the real estate auctions that meet your needs:
  • Public Records: Foreclosure notices are public record, and can easily be seen by visiting the County Clerk’s office. In order to make your search easier, however, keep an eye out for a Notice of Sale or Notice of Default. These particular notices identify properties that are most likely going up for auction sooner rather than later.
  • Online: There are several online portals dedicated to serving those intent on attending real estate auctions. Foreclosure.com, for example, lists all of the properties that have already been foreclosed on and are simply waiting to be auctioned off. It is important to note that this service isn’t free.
  • Traditional Institutions: Banks and lenders are interested in removing non-performing loans (foreclosed properties) from their books, and are therefore likely to advertise the properties they plan to put up for auction. Check their website or inquire in person.
  • Government Database: If the other outlets on this list come up short, consider referencing government databases. Properties expected to be foreclosed on but guaranteed by the government are often sold at auction. Try inquiring with the FHA, VA and other government programs to see which properties they might place up for auction. Consider starting your search at places with first-time homebuyer loans.
Pay close attention to the specific properties that are being placed up for auction. You want to be sure you can acquire a home that meets your criteria or specific exit strategy. Keep tabs on the real estate auctions that have properties you can work with and go from there. This way you will not waste time visiting auctions without potential. The real estate auction process is tricky enough without having to needlessly waste your time.
3. Run The Numbers
Investing in real estate does coincide with an inherent degree of risk, but that doesn’t mean you can’t place the odds in your favor. In fact, a little due diligence can go a long way in mitigating ill-advised circumstances.
Before you fall in love with a property, do what we in the business like to call “running the numbers.” Do a little research and determine for yourself whether the house you are interested in is a sound investment opportunity. Find out the estimated market value of the property and how much is owed on it, but don’t stop there. Before you even attend the auction, pay a visit to the house in question and look at it first-hand. Conduct your own inspection and confirm the descriptions provided by the trustees; this is one of the best real estate auction tips you will ever hear. As an investor, you should pay close attention to not only the house, but the neighborhood as well.
Above all, take what others tell you with a grain of salt. You, and you alone, should be the sole decision maker. Confirm everything you have been told and proceed onto the next step.
4. Complete A Title Search
Provided you are able to locate a property that meets all of your criteria and the numbers make sense from an investor’s standpoint, prepare to dig a little deeper. For starters, you will want to confirm or deny any liens that have been placed on the property. Not unlike the homes up for auction themselves, this information is public record. Finding out if a property has any liens against it is as simple as asking the appropriate authorities.
It is important to note that any property with a lien against it may require the winning bidder to satisfy any obligations before taking ownership. That said, the real estate auction process certainly has some hidden costs. With a little due diligence, however, it is entirely possible to foresee any and all scenarios; just be certain that you know what you are getting into. I highly recommend enlisting the services of a real estate attorney or title company to verify that the home is free of liens.
Of all the real estate auction tips I can impart on you, this may be the one worth remembering. The last thing you want to do is bid on a property that has liens against it you can’t afford, or that eat away at your bottom line.
5. Place A Bid
Before you commit, or place a bid in this case, make sure you know the status of the home. Things can change in an instant, and the home you thought would be up for auction may have been removed from the block for one reason or another. Once you have confirmed that the home you want is in fact up for auction, determine how much you are willing to bid on it. Again, run the numbers and find out the maximum amount you can pay. There is a point where spending too much ruins a home’s viability as a real estate investment strategy, and it is up to you to determine that number. The last thing you want to do is get stuck with a property you payed too much for. Finally, with a good grasp on the real estate auction process, prepare to make your bid.
Remember, auctions will pit you up against other likeminded investors that probably have the same intentions as you. How you carry yourself will go a long way in landing you the deal. Try to fit in as best you can, and don’t let the actions of others dictate how you bid. As long as you have done your homework beforehand, you will know how much you can spend. Don’t, I repeat do not, bid more than you predetermined. Remember, those numbers were put there for a reason.
The real estate auction process has proven very lucrative for those investors that know how to take advantage of it; there is no reason you couldn’t be on this list. Start learning the ins and outs of auctions, and use these real estate auction tips to improve your odds.

Bargain Belt vs. Costly Coast: Will 2016 Be Better or Worse Than 2015?The survey question asked U.S. Adults in 2015 whether they thought 2016 will be better or worse for each of the options above. The percentage of people who said it would be “better” was then subtracted from the percentage who said it would be “worse” to determine their outlook. To illustrate the difference over time, last year’s results are presented, which asked U.S. adults in 2014 whether they though 2015 would be better or worse. The figures above are percentage point differences.


Costly CoastBargain Belt
Sell a Home+13+15
Buy a Home+1+8
Get a Mortgage to Buy a Home-10-1
Get a Mortgage to Refinance a Home-7+2
Rent a Home-8+4
Note: 
The survey question asked U.S. Adults in 2015 whether they thought 2016 will be better or worse for each of the options above. The percentage of people who said it would be “better” was then subtracted from the percentage who said it would be “worse” to determine their outlook. To illustrate the difference over time, last year’s results are presented, which asked U.S. adults in 2014 whether they though 2015 would be better or worse. The figures above are percentage point differences.
Bargain Belt BoomsOn the other hand, we expect highly affordable housing markets in the Midwest and South — an area we’ve identified as the Bargain Belt — to pick up. We’ve seen glimpses of this in 2015: metros like Winston-Salem, N.C., and Charlotte, N.C., have seen the biggest year-over-year increase in how quickly homes move off the market. And in metros like Akron, Ohio, Cincinnati and Kansas City buying was an even better deal in 2015 compared to 2013 and 2014.
Consumers are also upbeat about the Bargain Belt. In every category except getting a mortgage to buy a home, those in the combined region of the South and Midwest think 2016 will be better than worse. The largest differential was in selling a home, but those in the Bargain Belt also feel particularly optimistic about buying and renting a home.

Buying Remains Cheaper than RentingIn 2015, Trulia’s Rent vs. Buy report found that buying was a better deal than renting in 98 of the largest 100 markets and offered the best value in those markets since 2012. Although interest rates are sure to rise, we think buying will continue to beat renting. Nationally, interest rates would have to rise to about 6.5% for the costs of buying to equate renting. The interest rate tipping point for many metros is in the double digits. Coupled with tempered price growth, this should keep buying a better deal than renting.
However, we do expect that a rise in interest rates will affect markets in California. While demand for homes in the Golden State may continue to push higher in 2016, an increase of mortgage rates to 4.5% (read: two 0.25% Fed rate increases) would actually push the rent vs buy math close to renting in the Bay Area, Sacramento, Calif., Ventura County, Calif., and San Diego.

Renters May Get Some Relief2016 may bring relief for renters, who have endured sharp rent increases in many markets over the past few years. Multifamily housing construction, which disproportionally leads to new rental units, is booming in several markets. New multifamily permits in 2015 were exceptionally high in the Northeast – it’s 423% higher than the 25-year norm in New York, 295% higher in Boston, and 290% higher in Newark, N.J. Multifamily construction is even high relative to historic norms in stingy San Francisco (102% higher) and Los Angeles (160%).
However, much of our prediction is based on expectations that household formation remains steady. New work from our old friend Jed Kolko suggests the share of 18-35 year olds living with their parents today may be the new normal. If this is indeed the trend, new household formation will likely remain steady and new rental supply should keep pace with new demand. However, if the economy surges and younger workers quickly get pulled into the workforce, new household formation may outpace supply and rents increases could continue.

Markets to Watch in 2016While we expect some of the hottest housing markets to continue cooling in 2016, we have identified 10 markets that we think have strong potential for growth in the year ahead. These markets exhibit strength in five key metrics: strong job growth over the past year, low vacancy rates, high affordability, more inbound home searches than outbound, and a large share of millennials. They are:
  1. Grand RapidsWyoming, MI
  2. Charleston, SC
  3. Austin, TX
  4. Baton Rouge, LA
  5. San Antonio, TX
  6. Colorado Springs, CO
  7. Columbia, SC
  8. RiversideSan Bernardino, CA
  9. Las Vegas, NV
  10. Tacoma, WA
Grand Rapids, Mich., tops our list because it ranks particular affordable (14th most affordable in the US) and has strong job growth (22nd strongest in past year). Charleston, S.C., ranks second because it has even higher job growth (6th in the US) and very high share of inbound home searches (ranked 5th), but falters in affordability (66th) and vacancy rate (52nd). Austin, Texas, ranks third on our list because of its strength in two categories: share of millennials and job growth (ranks 3rd in both categories). Five of our ten metros to watch in 2016 are Southern (Charleston, Austin, Baton Rouge, La., San Antonio, Texas, and Columbia, S.C.), while three are in the non-coastal West (Colorado Springs, Riverside-San Bernardino, and Las Vegas), one in the Midwest (Grand Rapids), and just one in the coastal West (Tacoma, Wash.). No Northeastern metros make our list to watch, primarily because of low affordability, modest employment growth, and relatively few millennials.

Full Survey MethodologyThe 2015 survey was conducted online within the United States between November 19th and 23rd, 2015 among 2,016 adults (aged 18 and over) by Harris Poll on behalf of Trulia via its Quick Query omnibus product. Of those surveyed, 1,194 were homeowners and 740 were renters. By age group, 577 are aged 18-34 years old, 706 are aged 35-44 years old, and 733 are aged 55+ years old.
The 2014 survey was conducted online within the United States between November 6th and 10th, 2014 among 2,008 adults (aged 18 and over) by Harris Poll on behalf of Trulia via its Quick Query omnibus product.
Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents’ propensity to be online.
All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, the words “margin of error” are avoided as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.
Respondents for this survey were selected from among those who have agreed to participate in our surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in our panel, no estimates of theoretical sampling error can be calculated. 
About The Harris PollOver the last 5 decades, Harris Polls have become media staples.  With comprehensive experience and precise technique in public opinion polling, along with a proven track record of uncovering consumers’ motivations and behaviors, The Harris Poll has gained strong brand recognition around the world. The Harris Poll offers a diverse portfolio of proprietary client solutions to transform relevant insights into actionable foresight for a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer packaged goods. Contact us for more information.
- See more at: http://www.trulia.com/blog/trends/2016-housing-predictions/#sthash.weYujBST.dpuf


Trulia_2016Predictions_Obstacles
What Renters Say Are the Biggest Obstacles to Homeownership
201320142015
Saving Enough for a Down Payment55%53%54%
Having a Poor Credit History35%35%35%
Qualifying for a Mortgage33%33%31%
Rising Home Prices22%32%27%
Unable to Pay Off Existing Debt26%25%29%
Not Having a Stable Job36%24%23%
Rising Mortgage Rates15%15%16%
Limited Inventory5%6%6%
Note: Among renters who plan to buy a home one day.
Will 2016 be the year that millennials finally start to buy homes? Maybe. Among the 18-34 year olds who plan to buy a home, just over 13% say they plan to buy a home within the next 12 months, but that number jumps to over 35% if the timeframe is expanded to within the next two years. But what would make more millennials take the leap from renting to homeownership? More money. When asked what would encourage them to buy a home rather than continue to rent, 51% of millennial renters say that a new job, promotion or raise would, followed by having enough or a down payment (50%) and improved credit history (36%).
Trulia_2016Predictions_EncourageBuy
What Would Encourage Renters to Buy a Home
Rather than Rent in the next 12 Months
18-3434-5555+
Able to Save for a Downpayment50%40%17%
Getting a Job/Promotion or Raise51%44%13%
Credit History Improvement36%29%9%
If Home Prices Fell30%27%18%
If it made more financial sense to own24%21%15%
Lower Interest Rates25%21%13%
If rents increased6%6%4%
Other8%10%17%
Nothing14%25%46%
Note: Among renters only.

Housing in 2016: Costly Coasts Cool, Bargain Belt Booms, and Buying Remains a BargainInvestors fueled the initial housing market recovery. By the end of 2013, bargain buys were harder to come by, and investors started retreating. 2014 and 2015 brought solid job growth to many metros, which helped fuel an emergence of new households, especially renters. As much of Trulia’s research has shown, this drove a steep year-over-year price and rent increases in many of the coastal markets, but metros in the heartland remained affordable. Will this polarization trend continue, or will the gap between booming metros and stagnant ones converge? Will renters get relief? And will rising interest rates make it a better deal to rent?
Here’s what we expect in 2016:
Costly Coasts CoolWe expect housing markets along the Costly Coasts – namely, expensive metros in the West and Northeast– to continue slowing. In many of these coastal metros, affordability has decreasedhomes are staying on the market slightly longer, and saving for a down payment can take decades.
Consumers are also starting to feel pessimistic about homes along the costly coasts. Those in the combined regions of the West and Northeast say getting a mortgage to buy or refinance a home will be worse in 2016 than better (10 percentage-points more said it would be worse than better to get a mortgage to buy a home, 7 points for refinance). Likewise, more Americans in these combined regions also said 2016 will be worse for renting a home than better (by a margin of 8 percentage-points).
Taken together, these factors lead us to believe household formation will wane in these metros 2016, which should help moderate price and rent growth. But due to a limited supply of new single-family homes in these metros, we don’t anticipate prices to fall anytime soon.
Trulia_2016Predictions_BargainBeltCostlyCoast