Foreclosure, REO listings selling after average 22 days on the market

Corinth TX foreclosure or REO listings have been on the market for an average of 22 days last month before they went into escrow/pending status. Total of 7 active foreclosure properties are currently listed in Corinth and 6 are pending.

New Foreclosure Listing in Corinth, TX listed at 30% below tax value

This new listing in Corinth is offered at $90,000, as is, foreclosure, Fairview subdivision. New on market.

New iPhone for my listings

I am waiting to get my new Iphone 3gs. Very excited about it. Now with video function - it's great to upload property videos right into youtube or send it to my clients via email. I have several clients from out of state - just imaging I am previewing property and making comments and sending it straight to my client! WOW!

HUD approves the use of $8000 tax credit for downpayment

HUD has recently approved the use of the $8,000 tax credit for the purchase of a new home. Currently a buyer must purchase a home and then apply for the tax credit through their tax returns. However, with the new rule our qualifed buyers will be able to use the money for their down payment, closing costs, and prepaids. The program will be facilitated through The Texas Department of Housing and Community Affairs (TDHCA). TDHCA just released a letter acknowledging the new rule. As of yet, they have not implented the program. We do not have a definite timeframe when they will have it ready. I will email you as soon as I get word and with their guidelines. Please contact me with any questions.

Respectfully,

Bob Knoll
SWBC Mortgage Corp.

Update on Fairway Estates Market Activity in Corinth, TX

Recently -  one home was sold, one is under contract. Three new listings. One home is listed for over $1M. The other two - both have pools, spacious, custom built, 3600-3900 sq. ft.  There is a also one FSBO home for sale here. Call me to get an appointment to see Fairway Estates Homes.

$54 per square ft! Fairview West in Corinth, TX home for sale

This will probably not last. Bank of America - owner. Vacant. 2306 sq. ft. built in 1993, 3 bed/2 baths, 2 car garage - front, two story, Lake Dallas ISD  priced at $125,900. Foreclosure.

Corinth TX Foreclosures (Bank Owned)

The word Foreclosure may mean different things to different people. Often agents will refer to home called Foreclosure when it's actually REO (Bank owned property). Foreclosure is actually happens on the steps of the court house and once the bank buys the property back (90% of cases) the  property is no longer Foreclosure. BUT having said that, MLS system will still identify these properties as Foreclosure, so in 90% cases when you see Foreclosure pulled from MLS system - it is really an REO. 

Foreclosure on MLS = REO or Bank/Lender Owned Property. 

Other sites will pull information from public records (bank must post a public notice of upcoming foreclosure 21 days before the auction) and will actually post properties that are not yet on the market and not yet sold on the auction - those are TRUE Foreclosures.

In my blog and on my sites - because the information comes from the active real estate market - the properties that are called Foreclosures are actually REOs.