Leadpile's Blog» housing market

Another Hiccup In The Housing Market?

Mari Woods Holt — Wed, 13 Oct 2010 16:36:46 +0000

Just when things were hopefully starting to try and go in the right direction, it seems that there might be a change in that “positive” direction with our housing market. Reuters is reporting that 49 states in our nation have their attorney generals investigating allegations that there were banks not following the proper foreclosure procedures. Alabama was the only state in our nation to not pursue investigations into the lenders practices. No one is sure why that is at this time.
Some banks are not admitting to doing anything wrong, however Bank of America has currently halted any evictions for the time being. Other banks are not admitting any wrong but they are saying they followed the correct protocol in order to foreclosure on homes. What affect is this sort of controversy having on our economy? Of course when things are going right, or there is an election coming up, there are going to be people pointing fingers at each other. However, the question really is, did our nations mortgage lenders try to cut corners on processing foreclosures? If so, why?

Home Prices Still Falling?

Mari Woods Holt — Thu, 16 Sep 2010 16:39:24 +0000

Many of us wonder at what point will the economy start heading in a positive direction again? One big indicator of this will be with the housing market. Unfortunately, reports are showing that this summer there was actually an increase in the number of homes that went up for sale. This is not a good sign when the potential number of home buyers went down. NPR is reporting there are 4 million homes up for sale right now and an additional 600,000 or so homes that the banks have not put on the market yet to sell. This is astounding, but why are there so many homes just “sitting” there and not being put on the market to sell by the banks?
It seems that banks have a few reasons that they would be holding off on flooding the housing market with additional homes for sale. One reason is that banks are just having a hard time keeping up with all the foreclosures they are having to process AND they don’t want to inundate the housing market with all these homes for sales, which will in turn create lower sale prices. Supply and demand will create even more drops in the sale prices these homes are going for. This is not something the banks want to experience. So I guess the bottom line is, if you have not recently taken advantage the homes that are out there for sale at a reduced price, now might be a good time because there might be even more homes being put on the market to sell. When will this end????

Flipping Homes: Becoming A Born Again Trend?

Natasha Aronov — Tue, 29 Dec 2009 02:47:38 +0000

In the current state of the housing market and economy, there are many homes being sold or auctioned for well below the value they would have been sold at 3, 4 or even 5 years ago. During the housing boom, prior to the poor economic state, large amounts of people attempted to make money by buying and then quickly selling new houses and condos. That kind of flipping came to a halt as the economy started to fall, and now the flipping is being fueled by bargains at foreclosure auctions.
According to msn.com, there are many risks with purchasing auctioned homes, as buyers often times have to make quick buying decisions without being able to inspect the house prior to purchasing. When purchasing these homes, bidders need to keep in mind the house may need repairs. Purchasing homes from auctions is a gamble in the fact that you win some, and you will loose some. Hopefully, the economy will continue to recover, and buying will continue to be something that is possible for everyone!

Home Sells For $1.75 on Ebay!

Mari Woods Holt — Thu, 02 Oct 2008 14:24:52 +0000

I could not believe my eyes when I saw this article on Yahoo. According to the Associated Press, a Michigan home sold to a women for $1.75 on Ebay. There were 8 others that had a bid on this home, however this Chicago women won out with her under $2.00 bid. It appears there is some work to be done on the home and some back taxes, however no matter how you look at it, it is a GREAT deal.
The sad thing in all this is that someone lived in this home and unfortunately lost their home. The women that purchased the home has not even seen the home, and has no intentions on living there. With what is happening in today’s economy, this is bound to be happening more. At one point or another hopefully Ebay will be more known for it’s bid environment on products, not homes. Time shall tell.
Leadpile Lead Exchange is also a bid environment where we match the buyers and sellers of leads. Fortunately, we will not be matching up someone who lost their home to a buyer for $1.75.