President Barack Obama has changed his administration’s housing policy by abandoning the ownership program. Instead, the federal government plans to invest in purchasing foreclosure houses to be renovated and rented at affordable rates.
Investors looking for fixer uppers laden are grabbing cheap properties away from local governments in Florida. This rendered the federal homebuying program useless as local governments could not compete with cash-rich investors when it comes to purchasing foreclosure properties.
The number of Brooklyn bank foreclosures in the second quarter continues to rise. Industry experts are suggesting buying foreclosed properties in the area right away to take advantage of the good deals on the market.
Arizona has launched new housing programs to be funded by $121 million from the Neighborhood Stabilization Program. The programs help lower-income residents to buy homes from foreclosure listings.
The restoration of REO homes for sale in Sacramento was audited by HUD auditors recently. One major online real seller has more than 22,400 foreclosed homes for sale in Sacramento.
Buyers can find a lot of FSBO homes for sale in Fort Myers, but for those interested in condominium units, the city also is not short on these, with 125 units scheduled for auction in November.
North Carolina, already suffering from high numbers of foreclosed and pre foreclosure houses, is also being battered by rising unemployment rates and surging poverty rate.
Seattle foreclosure homes have been pushing down condo prices, particularly high-end condos. Condo units at the Escale and Four Seasons are being sold off at prices 20 to 50 percent below their initial prices.
Several foreclosed single-family houses will be either redeveloped or demolished as part of a neighborhood revitalization effort in Leoni Township. The program is financed by U.S. federal funds.
Majority of cities in the U.S. experienced rising home prices during the second quarter of 2010, but market analysts have warned that the market is still not ideal for flipping houses.
Buy foreclosure houses in Austin and gain from job growth and other positive economic developments in the area. In 2009, Texas was the top relocation destination state based on actual relocation data from Allied Van Lines.
Buy foreclosure houses in Ohio, which posted more than 101,000 foreclosure filings in 2009. Huron County had the highest foreclosure rate among counties in the state in 2009.
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