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Old 06-29-2015, 12:41 PM   #1
Realtor 1
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Default Foreclosure & Judicial Listings

This link includes foreclosure and judicial listings. Keep in mind, a judicial listing is not always a foreclosure however I wanted to include them as the motivation is often the same.

http://matrix.crebtools.com/Matrix/Public/Portal.aspx?ID=1664513627

Tracker:

Jan 23rd 2015 -34 total

Feb 4th 2015 - 26 total

April 16 2015 - 18 total

June 29 2015 - 33 total

August 25 2015 - 60 total

October 26 2015 - 70 total

December 4 2015 - 80 total

January 12 2016 - 68 total

February 16 2016 - 85 total

March 9 2016 - 87 total

April 12 2016 - 79 total

May 10 2016 - 86 total

July 5 2016 - 82 total

August 17 2016 - 112 total

September 12 2016 - 119 total

November 11 2016 - 122 total

December 20 2016 - 123 total

January 29 2017 - 131 total

March 22 2017 - 131 total

May 1 2017 - 111 total

June 14 2017 - 101 total

August 16 2017 - 84 total

September 20 2017 - 89 total

October 12 2017 - 105 total

Last edited by Realtor 1; 10-12-2017 at 03:55 PM.
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Old 08-11-2015, 08:45 PM   #2
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I want to ask a stupid question
Whats difference between judicial listing and Foreclosure ?
And, usually how much less are these foreclosure prices from market price.
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Old 08-13-2015, 05:33 PM   #3
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Not a stupid question - it is quite common!

Judicial can mean several things however it is often that the owners have equity in the property and it would not be fair for the bank to determine the value as the bank simply wants their money back.
If 500k is owed and the place is worth 600k, the bank is happy to list it for 500k and the owners walk away with nothing.
The courts won't accept such a offer based on the listing Realtors evaluation/Appraisers evaluation.
That said, it can easily run 50k in expenses for legal fees, commissions, management fees of the property, etc so owing 500k and having the courts accept a 560k offer leaves very little left over.
Keep in mind, there are numerous reasons why it can get into the courts hands and above is just 1 example which is not overly common as most foreclosures result in little to no equity. Even if your selling price is equal to what is owed, I am unable to list it on the market as there is no equity to pay commissions. A solution is to have the owner pay out of pocket or put money in trust however the chances of someone in such a situation having the free cash are rare.
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Old 08-24-2015, 01:24 PM   #4
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Does this report real time update itself? It's showing 58 items right now - does that mean the August total would be 58 up from 33?

If so, wow...
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Old 08-25-2015, 01:03 PM   #5
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Originally Posted by I-Hate-Hulse View Post
Does this report real time update itself? It's showing 58 items right now - does that mean the August total would be 58 up from 33?

If so, wow...
If you look at lots of the list there are sold and expired listings so they aren't all active at this time
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Old 08-25-2015, 04:15 PM   #6
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Quote:
Originally Posted by I-Hate-Hulse View Post
Does this report real time update itself? It's showing 58 items right now - does that mean the August total would be 58 up from 33?

If so, wow...
Interesting - I had no idea the new system we are on did this. I will just update the total number of actives as the map is showing all the C/S, Expired and Sold properties dating back a month or 2.
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Old 08-25-2015, 04:18 PM   #7
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3.5 million foreclosure with almost $4,700 a month in condo fees!
Granted it is almost 5000 sq ft with a 2000 sq ft patio and 3 parking stalls.
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Old 10-08-2015, 10:20 AM   #8
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any chance of an update please?
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Old 10-26-2015, 08:43 PM   #9
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Updated
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Old 11-05-2015, 04:39 PM   #10
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So you just buy these properties like a normal MLS listing, right?
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Old 11-05-2015, 08:43 PM   #11
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So you just buy these properties like a normal MLS listing, right?

Some minor differences which are very important to understand but for the most part, they are quite similar.

I was a Scotiabank "preferred" Realtor on the selling side of foreclosures and have taken an advanced course for the buying side. Seeing both sides of the transaction has been quite advantageous for my clientele who have bought foreclosures.
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Old 12-04-2015, 04:39 PM   #12
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Updated - 80 total foreclosures
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Old 12-06-2015, 09:22 AM   #13
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Updated - 80 total foreclosures
Thanks for the update but I do not like the new format that your using. I like how the old format would update prices, if the unit sold and for how much.
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Old 12-06-2015, 01:19 PM   #14
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Thanks for the update but I do not like the new format that your using. I like how the old format would update prices, if the unit sold and for how much.
Thank you for the feedback, I am unable to do it like that any longer but can try to find a more user friendly way than what is currently posted for the next update!
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Old 12-08-2015, 10:00 AM   #15
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Those foreclosures don't appear to be at much of reduced price. Makes sense that they're trying to recover as much value as possible but I thought there would be some better deals to be had at this point.

Guess we're not there yet?
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Old 12-08-2015, 11:07 AM   #16
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You might save yourself an additional 2-3% on a foreclosure. Perhaps more if there is work needed at the property but the idea that your going to buy a 400k home for 200k as you see in media throughout the states is pure bs.


Foreclosures are great for the value driven buyer. While selection is lower, that small savings is still a savings on the house that goes up for sale next door.
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Old 12-09-2015, 10:25 AM   #17
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Quote:
Originally Posted by Realtor 1 View Post
You might save yourself an additional 2-3% on a foreclosure. Perhaps more if there is work needed at the property but the idea that your going to buy a 400k home for 200k as you see in media throughout the states is pure bs.


Foreclosures are great for the value driven buyer. While selection is lower, that small savings is still a savings on the house that goes up for sale next door.
Thanks for the running updates. Do you intentionally do every two months or just too busy? What happened to the other way of viewing the list? It was much more user friendly.

With respect to the savings on foreclosures, seems correct that you're not going to see too much of a difference - but we're talking about completely different markets. There were streets littered with foreclosures in the US. With 80 currently that's maybe 0.45 per community. So the comparison is poor.

If and when the number grows and they become a bigger amount of the listing inventory you might start to see bigger discounts. However, those would likely be somewhat matched by non-foreclosure listings until there's just too many which is when you'd see banks liquidating.

We're a LONG way from that though. Which doesn't mean it can't happen. By long I mean long with respect to the size of the inventory vs. time. Things can change fast.
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Old 12-09-2015, 12:27 PM   #18
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Quote:
Originally Posted by ranchlandsselling View Post
Thanks for the running updates. Do you intentionally do every two months or just too busy? What happened to the other way of viewing the list? It was much more user friendly.

With respect to the savings on foreclosures, seems correct that you're not going to see too much of a difference - but we're talking about completely different markets. There were streets littered with foreclosures in the US. With 80 currently that's maybe 0.45 per community. So the comparison is poor.

If and when the number grows and they become a bigger amount of the listing inventory you might start to see bigger discounts. However, those would likely be somewhat matched by non-foreclosure listings until there's just too many which is when you'd see banks liquidating.

We're a LONG way from that though. Which doesn't mean it can't happen. By long I mean long with respect to the size of the inventory vs. time. Things can change fast.
The updates come as time permits, no set schedule. It can look like I have 3 days with little to nothing to do and then I have a full week.
As for the new layout, I have figured out a way to go back to the old system without having any errors on my back end so the next update will be back to the user friendly way.
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Old 01-10-2016, 11:22 AM   #19
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Really interested in this thread this year
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Old 01-12-2016, 06:45 PM   #20
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bump for update - and went back to the old format!
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