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These housing markets are most likely to correct based on foreclosure buyer behavior

Housing Wire

A deeper dive into foreclosure buyer behavior shows which markets are most likely to see a home price correction in the next six months. Foreclosure auction buyers started bidding more conservatively in the second quarter of 2022, as measured by proprietary data from the Auction.com marketplace. Price Correction Risk by Region.

Buyers 425
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These markets are attracting the most out-of-state real estate investors

Housing Wire

Green gave the example of a Fort Wayne, Indiana, property he purchased on Auction.com via a bank-owned (REO) auction in July 2019. Following extensive renovations that took nearly a year to complete, the property was resold to an owner-occupant buyer in July 2020. 75% out-of-state buyers); Calhoun County, Ala. (60%);

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Here’s the story: Iconic ‘Brady Bunch’ home hits market for $5.5M

Inman

The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of television history.

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Pending home sales down again in September

Housing Wire

Yun expects inventory levels to pick up again in 2022 and that buyers who have temporarily paused their search will return to the market in the new year. In addition, Yun believes that increasing rents and lack of rental inventory will drive even more potential buyers into the market. Presented by: Auction.com.

Inventory 417
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As vacant foreclosures increase, so does buyer interest

Housing Wire

There were a total of 647 vacant structures in the Slavic Village neighborhood in July 2020, down 15% from March 2019 and down 53% from a peak of 1,368 vacant structures in March 2009, according to a biannual survey conducted by SVD of all parcels in the neighborhood. Seeking new inventory sources. But now gentrification is an issue.”.

Buyers 336
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Busting VA mortgage loan myths

Housing Wire

The great news is that the program has undergone significant improvements, particularly after the Blue Water Navy Vietnam Veterans Act was signed into law in 2019. My favorite, and one of the most valuable and underutilized products in today’s low-inventory market , is the VA renovation loan. MYTH: A VA loan can only be accessed once.

Mortgage 437
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How PrimeLending plans to grab market share

Housing Wire

While the 30-year fixed-rate mortgages are the bread-and-butter products for PrimeLending (accounting for about 95% of origination volume), down payment assistance programs, renovation loans and temporary rate-buydowns have become popular options for buyers, Lugat noted.