Interest In Purchasing Foreclosed Homes Spikes

 SAN FRANCISCO, CA  - Trulia.com and RealtyTrac, jointly released the latest results of a tracking study conducted on their behalf by Harris Interactive^® showing notable gains in consumers’ willingness to buy foreclosed properties, with 55 percent of U.S. adults indicating that they are at least somewhat likely to consider purchasing a foreclosed home in the future, compared to the 47 percent of U.S. adults who indicated the same in November 2008. In the current market, U.S. adults believe foreclosed homes are an even greater bargain opportunity than before, with 40 percent expecting to pay at least 50 percent less for a foreclosed home, compared to only 31 percent of U.S. adults surveyed in November 2008. The May 2009 survey also found that 74 percent of U.S. adults familiar with President Barack Obama’s Mortgage Relief Program are at least somewhat confident it will give homeowners the incentive to renegotiate with mortgage lenders in order to prevent their homes from going into foreclosure.  

While overall consumer interest in buying foreclosed homes has increased, the current wave of the study also found higher levels of negative sentiment around purchasing foreclosed properties. In November of 2008, 80 percent of U.S. adults felt that there were negative aspects to purchasing a foreclosed home. In the current survey, the number of U.S. adults concerned with negative aspects has risen to 85 percent. Among these 85 percent, 71 percent cite hidden costs as their top concern, 46 percent believe the process is risky and 31 percent are concerned that the home will lose value. Not surprisingly, consumers expect hefty discounts on foreclosed homes, with 83 percent believing they should pay at least 25 percent less for a foreclosed property, perhaps to compensate for perceived risks.

As interest in purchasing foreclosed homes increases, competition is heating up with traditional sellers competing with bank-owned prices. Across the U.S., 24 percent of existing homes for sale on the market have seen at least one price reduction in order to stay competitive, creating a tremendous opportunity for consumers to buy homes at significantly lower prices,” said Pete Flint, co-founder and CEO of Trulia. “Competition amongst sellers, along with the newly created economic incentives, has created the most significant discounts that we’ve seen in decades, presenting opportunities for first-time home buyers and families looking to trade up to a bigger home.”   “Although consumers are aware that there may be some challenges involved in purchasing a foreclosed home, they are very interested in the bargain opportunities available in the foreclosure market. People want the best deals they can find and they are willing to go outside of their comfort zones if it means they can buy more home for less money,” said Rick Sharga, senior vice president of RealtyTrac. “Consumers who educate themselves on the opportunities available will likely be rewarded.

Most Likely to Buy Foreclosures

• Two-thirds of U.S. adults between the ages 18-44 (66 percent) would consider purchasing a foreclosed home, compared to a little more than one-third of those ages 55 and older (38 percent). Respondents aged 45-54 fell in between, with 53 percent indicating that they would be at least somewhat likely to consider a foreclosed property. 
• Current renters (68 percent) are more likely to consider purchasing a foreclosed home than current homeowners (49 percent). 
• U.S. adults with children under 18 living in their household also show an increased likelihood to consider foreclosure properties, with 66 percent indicating they would be at least somewhat likely to purchase one, compared to 49 percent of those without children under 18 in the household. 

Confidence in Mortgage Relief Plan

• 74 percent of U.S. adults familiar with President Obama’s Mortgage Relief Program are at least somewhat confident it will give homeowners the incentive to renegotiate with mortgage lenders in order to prevent their homes from going into foreclosure. 
• U.S. adults aged 18-34 familiar with the program have the highest confidence level in the Mortgage Relief Program - 84 percent are least somewhat confident in the plan, compared to 71 percent of those aged 35-44, 69 percent of those aged 45-54, and 71 percent of those aged 55+. 
• Interestingly, women familiar with the program are more likely to be at least somewhat confident in its ability to give homeowners the incentive to renegotiate with their mortgage lender in order to prevent their home from going into foreclosure than men familiar with the program (79 percent vs. 69 percent, respectively).

 

 

National Realty News

May 22, 2009

Incline Village Pre-Foreclosures (May 2009)

Pre-foreclosuPres                                                  

Recorded in May 2009

740 Mays Blvd., APN 122-194-26

 

Recorded in April 2009

561 MacDonald, APN 124-085-15

929 Southwood – Pinewood #5, APN 127-490-08

978 Glenrock #11, APN 131-021-11

593 Tyner, APN 125-512-04, Rec. 4/27/09

967 Granite Ct., APN 128-060-10, Rec. 4/27/09

872 Tanager – Pinewood #31, APN 132-570-14, Rec. 4/27/09

806 Geraldine, APN 125-233-06, Rec. 4/27/09

225 Pinecone, APN 130-203-29, Rec. 4/24/09

648 Martis Peak Rd., APN 122-192-06, Rec. 4/24/09

830 Southwood, APN 132-440-02, Rec. 4/23/09

706 Golfers Pass, APN 128-241-16, Rec. 4/22/09

931 Village – McCloud #252, APN 127-078-27, Rec. 4/15/09

321 Ski Way – Mtn. Shadows #170, APN 126-151-12, Rec. 4/15/09

123 Juanita – Forest Pines 1-72, APN 127-300-05,  Rec. 4/14/09

807 Snead Ct., APN 128-361-17, Rec. 4/13/09

972 Fairway View Ct., APN 131-440-05, Rec. 4/13/09

501 Lakeshore – Lakeshore Terrace #57, APN 122-510-57, Rec. 3/18/09 & 4/21/09

501 Lakeshore – Lakeshore Terrace #58, APN 122-510-58, Rec. 3/18/09 & 4/21/09

825 Southwood – Southwood Pines #13, APN 127-110-13, Rec. 4/10/09

725 Golfers Pass Rd., APN 128-243-14, Rec. 4/2/09

1351 Zurich Ln., APN 126-430-22, Rec. 4/2/09

996 Third Green Ct., APN 131-250-18, Rec. 4/8/09

400 Fairview – Bitterbrush #221, APN 126-294-47, Rec. 4/2/09

194 Tramway, APN 130-212-21, Rec. 4/1/09

 

Recorded in March 2009

1000 Lakeshore #12, APN 130-191-04, Rec. 3/31/09

275 Deer Ct. #19, APN 127-560-01, Rec. 3/26/09

809 Jeffrey, APN 125-225-31, Rec. 3/25/09

321 Ski Way – Mt. Shadows #48, APN 126-102-06, Rec. 3/24/09

978 Glenrock Dr. #59, APN 131-021-25, Rec. 3/24/09

825 Southwood - SW Pines #1, APN 127-110-01, Rec. 3/19/09

900 Golfers Pass #3, APN 129-330-03, Rec. 3/18/09

769 Mays – Cedars #10, APN 122-460-10, Rec. 3/6/09

852 Donna, APN 124-083-25, Rec. 3/5/09

872 Tanager – Pinebrook #17, APN 132-570-08, Rec. 3/2/09

 

Recorded in February 2009

696 Village – Woodminster #22, APN 131-031-16, Rec. 10/23/08   NOTICE OF SALE on 2/17/09

580 McDonald, APN 124-084-05, Rec. 2/18/09

State Route 28, Crystal Bay (lot), APN 132-043-01, Rec. 2/17/09

962 Jennifer, APN 125-382-11, Rec. 2/17/09

1308 St. Gallen Ct. , APN 126-522-04, Rec. 9/24//08 & 2/12/09– Bank & HOA

869 S. Dyer, APN 124-083-05, Rec. 2/11/09

321 Ski Way, Mt. Shadows #68, APN 126-110-10, Rec. 2/10/09

991 Fourth Green Dr., APN 131-261-49, Rec. 2/10/09

514 Gonowabie, Crystal Bay, APN 123-132-02, Rec. 2/10/09

121 Juanita Dr. – Forest Pines #36, APN 127-290-36, Rec. 2/9/09

821 Golfers Pass, APN 129-280-06, Rec. 2/3/09

649 Alpine View Dr., APN 131-212-13, Rec. 2/2/09

 

Recorded in January 2009

939 Incline Way – McCloud #216,  APN 127-077-14, Rec. 1/27/09 –   NOTICE OF SALE on 5/13/09 filed by HOA

590 N. Dyer, APN 124-085-09, Rec. 1/22/09 –  NOTICE OF SALE on 5/13/09

807 Alder Ave. – Woodstock #50, APN 132-053-17, Rec. 1/14/09 – - NOTICE OF SALE on 5/6/09

989 Tahoe Blvd. – Tahoe Racquet Club #77, APN 127-363-03, Rec. 1/14/09-  NOTICE OF SALE on 5/6/09

818 Donna Dr., APN 124-082-40, Rec. 1/12/09 –   NOTICE OF SALE on 5/6/09

637 Woodridge Circle, APN 122-052-13-44, Rec. 1/8/09 & 8/14/08– NOTICE OF SALE on 5/6/09

820 Oriole – Royal Pines #56, APN 132-252-33, Rec. 1/8/09 & 1/21/09– NOTICE OF SALE on 5/6/09

926 Tyner, APN 125-162-14, Rec. 1/7/09

604 Tumbleweed, APN 125-501-12, Rec. 1/5/09

597 Ponderosa, APN 122-127-15, Rec. 1/5/09- NOTICE OF SALE on 4/30/09

634 Village Blvd., APN 131-013-18, Rec. 1/5/09 –   NOTICE OF SALE on 5/6/09

574 Chico Ct., APN 125-564-13, Rec. 1/2/09 - NOTICE OF SALE on 4/30/09

 

 

Incline Village Bank Owned Properties (updated 5/5/09)

Due to the fact that the status of these properties changes frequently, the information provided is deemed reliable, but is not guaranteed.

 

 

 

 

Tyner Way

4 bed, 3 bath, 3,471 Sq.Ft.

Saddlehorn Dr.

4 bed, 2 1/2 bath, 2,214 Sq.Ft.

Tumbleweed Cir.

4 bed, 3 bath, 2,614 Sq.Ft.

James Lane

5 bed, 3 bath, 4,400 Sq.Ft.

Jennifer St.

4 bed, 3 bath, 2,032 Sq.Ft.

Dorcey Dr.

3 bed, 2 bath, 1,700 Sq.Ft.

Rockrose Ct.

4 bed, 3 1/2 bath, 4,232 Sq.Ft.

Garen St.

4 bed, 2 bath, 1,656 Sq.Ft.

Northwood Blvd.

5 bed, 3 bath, 2,880 Sq.Ft.

Tirol Dr.

3 bed, 2 bath, 1,554 Sq.Ft.

Bitterbrush Condo

3 bed, 2 1/2 bath, 1,782 Sq.Ft.

Woodstock Condo

1 bed, 1 bath, 667 Sq.Ft.

Royal Pines Condo

3 bed, 3 1/2 bath, 1,680 Sq.Ft.

Tahoe Racquet Club Condo

2 bed, 2 bath, 1,343 Sq.Ft.