Buying Bank Owned Homes

All Foreclosures are Bought with Cash?

By Rebecca Williamson · April 19th, 2010

All Foreclosure Buyers are Cash Buyers Last week, we got a question from a reader who had been pre-approved for an FHA loan and her Realtor told her that she can forget buying bank owned homes because all bank owned home buyers were cash buyers. Are All Bank Owned San Mateo Homes Bought with Cash? [...]

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4 Biggest Mistakes when Buying Bank Owned Homes

By Raymond Stoklosa · April 15th, 2010

The 4 Biggest Mistakes When Buying Bank Owned Homes in San Mateo County The San Mateo County real estate market, while not deluged with bank owned homes has had its fair share based upon household income, demographic make-up and employment base. Buying bank owned homes in San Mateo County can be tricky and a unique [...]

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Condition of Bank Owned Homes Eliminates Most Buyers

By Raymond Stoklosa · January 29th, 2010

Condition of Bank Owned Homes Eliminates 75% of Buyers Bank owned foreclosure homes in San Mateo County represent a small subset of the overall housing resale market, and most are in need of rehabilitation. The serious damage to most bank owned homes that often exists pretty much eliminates 75% of all qualified buyers as only [...]

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How Markets are Affected by Foreclosures

By Raymond Stoklosa · January 20th, 2010

The Tale of Two Markets The local real estate market – any market area – is really the story of two categories of homes. The first is the traditional, conventional market of homes for sale, and the second is the distress marketplace of homes owned by people in the midst of a financial crisis. Foreclosure [...]

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Foreclosure Market Realities and What’s Ahead for San Mateo

By Raymond Stoklosa · January 19th, 2010

Foreclosures Will Always Be a Reality The prevalence of the “6 Dreaded D’s” – death, divorce, disease, drugs, denial and da job – ensure that foreclosure will always be an element in the lender/borrower relationship. Foreclosure is a consequence of real people in distress experiencing one of life’s brutal low points. For the home owner, [...]

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