http://www.reopropertyhunter.com Your Guide to Investing in Foreclosures and Bank Owned Real Estate Fri, 29 Aug 2008 01:25:52 +0000 http://backend.userland.com/rss092 en [caption id="" align="alignleft" width="300" caption="Read more about this property"][/caption] I've been saying it and I'll keep saying it. The best deals in today's market are REO or bank owned properties. Witness this story: Back story: Earlier this week I blogged about a foreclosed house that had been reduced 57% in price from ... http://www.reopropertyhunter.com/bank-owned-homes-offering-ever-deeper-discounts/ It wasn't but two years ago I was selling multifamilies in Everett for nearly $500,000 (high $400s anyway, sometimes less - like this one on the left) this price made no sense whatsoever for the buyer except that everyone was banking on appreciation. Now we're 2 years later and the ... http://www.reopropertyhunter.com/bank-owned-reo-mutifamily-prices-dive-deeper/ [caption id="attachment_155" align="alignleft" width="300" caption="Massachusetts Foreclosures Are Still On the Rise"][/caption] MASSACHUSETTS FORECLOSURES:The Warren Group today reported another drop in home prices and attributes much of the fall to foreclosures. While foreclosures provide some of the best buying opportunities the market has sen in years, the vast numbers of them are ... http://www.reopropertyhunter.com/foreclosures-continue-to-push-down-home-prices/ Today I began the process of making a move on a condo that is going into foreclosure. The market value of the property is about $295,000. I am going to try to buy it for $200,000 or less. I'm at a very early stage in the process. I'll document the ... http://www.reopropertyhunter.com/moving-into-a-foreclosure/ It seems default is creeping out of the residential sector and we're seeing it in some larger multis. This month we are quarterbacking the sale of 20 units in a bankruptcy auction in Cambridge Massachusetts. This is a Tranzon Auction Properties Deal (you might know I represent Tranzon in southern ... http://www.reopropertyhunter.com/bigger-multifamily-properties-hit-the-block/ A friend of mine sent me a copy of the Property section of the South China Morning Post during a recent business trip. It seems there's no end to the abuse the US real estate market is getting in the press, ALL the press. Click on this link to see ... http://www.reopropertyhunter.com/real-estate-investing-and-the-mob-mentality/ I just updated the sales figures for April 2008. This data is compiled from MLS and as I've mentioned here previously this data largely excludes the bigger commercial multifamily sales but is inclusive of probably 85% or more of the small and mid-sized buildings, that is what seems to make ... http://www.reopropertyhunter.com/april-08-multifamily-sales-report-now-available/ I write from time to time about how to size up a real estate investment. We've discussed cap rate and gross rent multiplier and briefly IRR. In the multifamily market though it seems there are as many measures of a good investment as there are investors. Recently we were talking with ... http://www.reopropertyhunter.com/make-your-goals-match-your-market/ It is the norm for big banks foreclosing in Massachusetts to use the process simply as a title clearing procedure. The way it works is that there is minimal marketing and the bid process involves the foreclosing attorney "bidding the debt" or bidding the full amount that the bank has ... http://www.reopropertyhunter.com/more-banks-may-have-to-sell-at-foreclosure/ I want to stop writing this type of headline quarter after quarter. This news from a press release just out from foreclosuresmass.com. This comes on the heels of the National Association of Realtors report that pending home sales dropped to a new low...which was immediately followed by a report, from ... http://www.reopropertyhunter.com/massachusetts-foreclosures-break-another-record/