Home / Posts tagged "REO"


What Does Foreclosure Really Mean?

Foreclosure. What does it mean exactly? According to Google dictionary, foreclosure is: The process of taking possession of a mortgaged property as a result of the mortgagor's failure to keep up mortgage payments. Well stated. Foreclosure is a process, something that happens to a property, not what the property becomes. It really bugs me when I hear someone say, “I want to start buying f...
Read More

Phoenix Housing Sub-Markets and Terms of Sale

Prior to the real estate market crash in 2008, determining the after-repair value of a home was much easier. That’s because a majority of homes on the retail market were what housing experts call normal sales. In other words, these houses were not in foreclosure or owned by a bank. With the tidal wave of foreclosures that hit nearly every city in the United States, retail markets were overr...
Read More

Closed: Phoenix REO After 1-Day on the Market

Last week, I posted a video about an REO in Ahwatukee my Realtor, Bill Watson, found on the Arizona Regional Multiple Listing Service. Purchased December 20th, 2011, it went on the market January 17th.  I wasn’t in much of a rush to get the rehab done in my normal 7-day window because sales are typically slow to start at the beginning of the year.  I didn’t want this listing to die on the vine ...
Read More

Phoenix REO Deal Falls Through the Cracks

Ahwatukee.  This little section of Phoenix actually has its own Wikipedia page.  Nestled up against the South Mountain range, Ahwatukee is popular with families, white-collar types and professional athletes.  Larry Fitzgerald, star receiver for the Arizona Cardinals, lives there. So you’d think that it would be difficult to find a great deal on a house in this little slice of desert Heaven righ...
Read More