Bank Owned Eagle Home for Sale

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Bank Owned Eagle Home for Sale

3662 W Fieno Court  Eagle, ID  83616

Incredible bank owned Eagle home for sale located within an established Cavello Estates—nicely situated on a quiet street near the foothills, golf courses, shopping and restaurants yet just minutes from the downtown Boise core area.  The well-manicured 1.8 acres welcomes all of the “toys” yet also provides privacy.  The oversized 3 car garage allows for additional storage within this bank owned Eagle home for sale.  The master suite features his and hers closets, a walk-in shower plus soaker tub and custom cabinetry.  The interior of this bank owned Eagle home for sale contains a plethora of rustic walnut hardwood flooring, slab granite counter tops, double oven, alder cabinetry and tile.  The two story great room provides plenty of light and the extra guest bedroom on the main level is perfect for out of town guests.  This bank owned Eagle home for sale is fully wired for sound—not to mention the media room which contains a wet bar.  Wonderful floor plan with plenty of detail!  Offered at only $469,000 yet it’s a buyer’s market and the seller may take less.

The seller of this bank owned Eagle home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit: https://trustidaho.com/search/#PropertyID=39366228 to view detailed information on this bank owned Eagle home for sale.

Interested in obtaining information on all Eagle bank owned homes for sale?  Just send me a quick note via email and I will forward a list of available bank owned Eagle homes within 24 hours.  Please call me at 208-869-3469 or send your request to:  [email protected]

 

Call today for additional information or to view the interior of this bank owned Eagle home for sale!  208-869-3469 . . .

Bank Owned Boise Home for Sale

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Bank Owned Boise Home for Sale

6448 W Dufferin Ct  Boise, ID  83714

Incredible bank owned Boise home for sale located within an established Panther Creek Community—nicely situated on a quiet street near the foothills, golf courses, shopping and restaurants yet just minutes from the downtown Boise core area.  An approximate monthly payment for this home at the asking price would be at or around $1,150 monthly—why rent?!?  The interior features beautiful hardwood, custom lighting, soaring ceilings and stylish finish work touches.  The kitchen is AMAZING and features stamped/stained concrete counter tops, upgraded stainless steel appliances, and full tile backsplashes.  The master suite contains dual vanities, tiled shower with a plethora of massaging jets, soaker tub and tile surrounds.  The 2 sided fireplace allows for outdoor enjoyment. This bank owned Boise home for sale is will go quickly!  Offered at only $193,000 yet it’s a buyer’s market and the seller may take less.

The seller of this bank owned Boise home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=39118282 to view detailed information on this bank owned Boise home for sale.

Interested in obtaining information on all Boise bank owned homes for sale?  Just send me a quick note via email and I will forward a list of available bank owned Boise homes within 24 hours.  Please call me at 208-869-3469 or send your request to:  [email protected]


Call me today for additional information or to view the interior of this bank owned Boise home for sale!  208-869-3469 . . .

Mortgage servicers bypass foreclosure delays with more short sales

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Mortgage servicers bypass foreclosure delays with more short sales

Mortgage servicers moved more to short sales in the past year due to attorney general investigations and lengthy foreclosure delays.

By the middle of 2011, according to Moody’s Investors Service, short sales grew 25% from the 8% August 2009 liquidations of distressed properties level.  In the meantime, borrower default to foreclosure grew to an average of 24 months (the average time to complete the foreclosure process in 2009 was 14 months).

The substantial delays lengthened the foreclosure processes which obviously caused greater losses by the banks and investors.  As you may be aware, the foreclosure processes were halted in October of 2010 to correct mismanaged foreclosures as part of the robo-signing scandal.  New regulations from the government along with negotiations between State Attorney generals are still ongoing and are causing banks and servicers to turn to short sales rather than starting the foreclosure process.

“To reduce their expenses and mitigate the high loss severity on liquidated loans, servicers are increasingly opting to bypass the foreclosure process and liquidate properties more quickly through a short sale,” Moody’s analysts said.

Short sales used to cut into “shadow inventory”

In order to cut into the “shadow inventory”, servicers of mortgages are using short sale transactions and Standard & Poor stated that short sales did actually decrease the shadow inventory within the 2nd quarter of 2011.

The average short sale took just under 12 months to sell while the average REO took 17 months in the middle of 2011.  Losses dropped, as well, with banks witnessing a 70% loss rate on REO property sold in comparison to just 60% for short sales sold.

Short sales also allow borrowers to purchase a home again within 1-2 years while homes which are foreclosed upon do not allow the previous owner to purchase again for at least 5-7 years.

Even so, short sales are still difficult due to investors arguing whether or not to provide an approval for the short sale.

“Short sales, like other servicer loss mitigation strategies, may stir a fierce ‘class warfare’ between investors in different parts of the deal capital structure,” Deutsche Bank researchers said.

Short sales are the new REO

Analysts from Moody’s stated that short sales helped with the severity of losses through the market turmoil as foreclosure problems continue to hurt the recovery process.  Moody’s also stated that the stabilization of average loss is helped by reducing the liquidation timeline

Do you have any additional questions about short sales and the processes associated with them?  If  so, please call me directly to discuss the “in’s and out’s” of short sales.  208-869-3469

SHORT SALES–THE NEW “NORMAL”

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SHORT SALES–THE NEW “NORMAL”

Short sales are now becoming more and more appealing to banks throughout the greater Boise-Nampa Metro Area and the United States.  Larger banks, such as Bank of America, are ramping up their short sale departments by adding 3 additional servicing locations in order to help facilitate short sales and avoid additional inventory weighing down their books and cutting into the servicers and investor’s bottom line.

Finally, banks are getting smart (or smarter).  The foreclosure process through the re-sale of the home as a “bank owned property” takes a substantial amount of time and money.  Banks avoid the legal, maintenance and re-selling costs by approving a short sale rather than allowing the home to be sold at a trustee auction.

A short sale could take as long as six months approximately 1 year ago.  Today, the short sale process from the submission of the offer and seller financial documents to the approval letter ranges from 30-60 days—depending upon the servicer of the loan.  This said, banks are going to greater lengths to review and approve short sales in a timely manner.

Proceeding with a short sale rather than allowing a home to go through the foreclosure process is good for the owner, the purchaser and the local real estate market.  Homes sold as “short sales” typically are in better condition than bank owned property and also help keep the banks inventory low.  In turn, the lack of additional foreclosed upon property hitting the market helps to maintain current property values.

Although short sales do damage credit (minimally, however), the damage done to credit if a home is foreclosed upon is very substantial.  In fact, an owner that has his/her home foreclosed upon cannot purchase a home for at least 7 years.  However, those who complete the short sale process may be able to purchase again w/in 2 years (depending upon the circumstances of the short sale and credit scores).

Short sales aren’t difficult as long as you have an experienced Real Estate Broker helping with the process.  Items needed to submit for short sale approval are as follows:

1)      Hardship Letter

2)      Most recent 2 bank statements

3)      Most recent 2 tax returns

4)      Most recent 2 pay stubs

5)      Financial Analysis (document which states your monthly income and expenses)

Please call me directly if I can answer any additional questions for you about short sales or assist with the sale of your home.  Also, the following link contains a recent video which discusses the lending institutions stance on short sales.

http://kcmblog.com/2011/06/22/are-short-sales-getting-easier/

Mortgage rates plummet to new lows

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As the economy felt the stings of European debt concerns and investors rushed to U.S. Treasury’s mortgage interest rates plummeted to new lows this week.

The 30-year fixed-rate mortgage is down from 4.39% last week and 4.44% the previous year earlier to 4.32%–its lower point scale year to date.

At 3.5%, the 15-year fixed rate mortgage decreased nearly ½ point from last year’s levels.  The 1-year ARM (adjustable rate mortgage) averaged at 2.89%.

The chief economist for Freddie Mac stated that mortgage rates may ease even further when the Federal Reserve Open Market Committee guaranteed that it would keep the federal funds rate at all-time lows through 2013 to help with economic growth.

An alternate site noted record lows for interest rates—Bankrate.com—and stated that credit rating downgrades to the county were good for current interest rates and opens the door for homeowners to get help today in this hard market to get into. Situations in the past may of made it so that many have missed their chance to purchase or re-finance last year, optimism for the future does seem better.

Bank Owned Kuna Home for Sale (HUD)

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Bank Owned Kuna Home for Sale (HUD)

1553 N Alcatraz Avenue  Kuna, ID  83634

Incredible bank owned Kuna home for sale (HUD) located within an established Crimson Point neighborhood which contains its own elementary school, pool and common area.  Containing 1667 well laid out square feet, 3 bedrooms, 2 bathrooms and an upstairs bonus room, this bank owned Kuna home for sale is priced nearly $22,000 below current assessed values. An approximate monthly payment for this home at the asking price would be at or around $700 monthly—STOP PAYING RENT!

Beautiful home w/engaging front porch & inviting curb appeal. Home boasts open living space, split bedroom plan w/spacious upper bonus room, vaulted ceilings, hardwood, great room w/fireplace, Maple cabinetry in kitchen, accent lighting, ceiling fans.  The exterior grounds are fully fenced w/mature landscaping & pressurized irrigation. Additional features include: rear patio gazebo, wired for hot tub in generous backyard, 3-car garage w/enclosed storage..  This bank owned Kuna home for sale will go quickly!  Offered at only $92,000 yet it’s a buyer’s market and the seller may take less.

The seller of this bank owned Kuna home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=38851835to view detailed information on this bank owned Kuna home for sale.

Interested in obtaining information on all  bank owned Kuna homes for sale?  Just send me a quick note via email and I will forward a list of available bank owned Kuna homes within 24 hours.  Please call me at 208-869-3469 or send your request to:  [email protected]

 

Call me today at 869-3469 for additional information or to view the interior of this bank owned Kuna home for sale!

Bank Owned Boise Home for Sale (HUD)

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Bank Owned Boise Home for Sale (HUD)

11264 Barden Tower Dr  Boise, ID  83709

One of a kind bank owned Boise home for sale (HUD) located within an established neighborhood in the heart of Boise.  Sitting on a private and oversized lot, this bank owned Boise home for sale, containing 4 bedrooms, 3 bathrooms and 2236 square feet is priced nearly $30,000 below current assessed values. An approximate monthly payment for this home at the asking price would be at or around $800 monthly—much less than rent!  The interior features oversized rooms, upgraded windows, 2 fireplaces, laminate flooring, a separate family room and great room along with features not seen within homes at this price range.  The kitchen is open and contains plenty of storage. The exterior of this bank owned Boise home for sale provides RV parking and has an oversized covered back patio.  This bank owned Boise home for sale is well worth looking at today and is being offered at only $128,800.  However, it’s a buyer’s market and the seller may take less.

The seller of this bank owned Boise home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=34970417 to view detailed information on this bank owned Boise home for sale.

Interested in obtaining information on all Boise bank owned homes for sale?  Just send me a quick note via email and I will forward a list of available bank owned Boise homes within 24 hours.  Please call me at 208-869-3469 or send your request to:  [email protected]


Call me today for additional information or to view the interior of this bank owned Boise home for sale!  208-869-3469 . . .

Bank Owned Nampa Home for Sale (HUD)

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Bank Owned Nampa Home for Sale (HUD)

16966 N Thurgood Loop  Nampa, ID  83687

Outstanding bank owned Nampa home for sale (HUD) located within an established neighborhood and only 2-3 minutes from I-84 and 15 minutes to Boise.  This bank owned Nampa home for sale, containing 3 bedrooms, 2 bathrooms and 1382 square feet is priced nearly $25,000 below current assessed values. An approximate monthly payment for this home at the asking price would be at or around $560 monthly—way less than renting this exact same home!  The interior features neutral colors, a family friendly floor plan, vaulted ceilings throughout, split bedroom design (master suite and guest bedrooms on opposite side of home) and tile.  The kitchen opens to the living area and contains plenty of storage.  The back yard opens to the community’s common area with playground equipment. This bank owned Nampa home for sale is well worth looking at today!  Offered at only $82,000 yet it’s a buyer’s market and you may be able to purchase for less.

The seller of this bank owned Nampa home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=38447765 to view detailed information on this bank owned Nampa home for sale.

Interested in obtaining information on all Nampa bank owned homes for sale?  Just send me a quick note via email and I will forward a list of available bank owned Nampa homes within 24 hours.  Please call me at 208-869-3469 or send your request to:  [email protected]

 

Call me today for additional information or to view the interior of this bank owned Nampa home for sale!  208-869-3469 . . .

Foreclosure Activity Drops in Most Metro Areas

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Foreclosure Activity Drops in Most Metro Areas

According to RealtyTrac, foreclosure rates in the 1st half of this current year decreased 84% in 211 metropolitan areas examined.

Although foreclosure rates are improving in most metropolitan markets, RealtyTrac experts assume that the waning foreclosure numbers could be a natural side effect of the robo-signing debacle which is slowing the foreclosure process instead of a true clearing of excess foreclosure inventory.

Areas located in Arizona, Nevada and California was at the top of the list for metro areas with the highest foreclosure filings.

Florida, whose markets are well known for being hit very hard by the real estate bubble burst, saw a taper in foreclosure activity within the 1st half of the year with only Cape Coral-Fort Myers showing up within the top-twenty cities with the largest foreclosure rates.  Interestingly enough, cities within Florida held 9 spots on the top twenty lists from 2010.

The highest metro foreclosure rate is currently held by the Las Vegas-Paradise metro area.  One in every 19 housing units have become subject to foreclosure filings within the 1st half of the year which is 6 times higher than the national average.

Another area which ranked high (2.96% foreclosure rate) was the Reno-Sparks area.  Down 8% was the Phoenix-Mesa-Scottsdale areas which saw 60,985 properties receive a foreclosure filing in the 1st half of 2011—a reduction of nearly 17% from a year ago.

Bank Owned Meridian Home for Sale (HUD)

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Bank Owned Meridian Home for Sale (HUD)

1638 W Apgar Creek Dr  Meridian, ID  83646

Amazing bank owned Meridian home for sale (HUD) located within an established neighborhood (Kelly Creek) and just a hop, skip and jump from Boise and I-84.  This bank owned Meridian home for sale, containing 4 bedrooms,  2 1/2 bathrooms and 1586 square feet is priced nearly $13,000 below current assessed values. An approximate monthly payment for this home at the asking price would be at or around $725 monthly—much less than rent!  The interior features neutral colors, a family friendly floor plan, vaulted ceilings throughout, wood wrapped windows and brushed nickel.  The kitchen is open and contains plenty of storage.  This bank owned Meridian home for sale is well worth looking at today!  Offered at only $120,000 yet it’s a buyer’s market and the seller may take less.

The seller of this bank owned Meridian home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=38193228 to view detailed information on this bank owned Meridian home for sale.

Interested in obtaining information on all Meridian bank owned homes for sale?  Just send me a quick note via email and I will forward a list of available bank owned Meridian homes within 24 hours.  Please call me at 208-869-3469 or send your request to:  [email protected]


Call me today for additional information or to view the interior of this bank owned Meridian home for sale!  208-869-3469 . . .