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REO and Short Sales Make Up Half of California Market in 2009: CAR

Written by Jon Prior on March 10, 2010 — Leave a Comment

Of all homebuyers in California in 2009, 47% were first-time homebuyers, up from 35.9% in 2008, according to a report from the California Association of Realtors (CAR). And while new blood entered the market, REO and short sales made up half of the assets sold in the state.

It’s highest share of the market first-time homebuyers took since 1995. Back in November, President Barack Obama extended the first-time homebuyer tax credit, which was originally set to expire on Dec. 1, 2009 to April 30, 2010. Under the extension, first-time buyers can claim 10% of the purchase price, up to $8,000 for single or married taxpayers filing jointly…

Posted in REO News | Tagged CAR, First-Time Homebuyers, REO

Buyers Get 56 Cents on the Dollar at Texas Foreclosure Auctions: FLS

Written by Jon Prior on March 9, 2010 — Leave a Comment

Third-party buyers purchased more than 250 homes in North Texas foreclosure auctions at an average $0.56 on the dollar in Q110, according to Foreclosure Listing Service (FLS).

George Roddy, Sr., president of FLS, said 6% of the residential foreclosure postings that were actually sold at auction were purchased by third-party buyers or investors. While most are investors, he said, there are a number of people looking looking for a good deal on a home they can move into…

Posted in REO News, Rename to new category | Tagged REO, Texas