Philadelphia Foreclosures and REO

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(all data current as of 12/12/2014)

  1. 4 beds, 1 full bath
    Home size: 1,830 sq ft
    Lot size: 1,272 sqft
    Listing with: Coldwell Banker Preferred-Old City
  2. 2 beds, 1 full bath
    Home size: 940 sq ft
    Lot size: 611 sqft
    Year built: 1914
    Listing with: Premier Real Estate Inc
  3. 0 beds, 0 baths
    Home size: 2,415 sq ft
    Lot size: 1,060 sqft
    Year built: 1915
    Listing with: Elfant Wissahickon-Mt Airy
  4. 2 beds, 2 full baths
    Home size: 1,696 sq ft
    Year built: 2007
    Parking spots: 1
    Listing with: RE/MAX Prime Real Estate
  5. 2 beds, 1 full bath
    Home size: 820 sq ft
    Lot size: 672 sqft
    Year built: 1924
    Listing with: Premier Real Estate Inc
  6. 3 beds, 1 full bath
    Home size: 1,470 sq ft
    Lot size: 1,120 sqft
    Year built: 1925
    Listing with: Gamba & Levin Real Estate, LLC
  7. 4 beds, 1 full bath
    Home size: 1,304 sq ft
    Lot size: 1,070 sqft
    Year built: 1914
    Listing with: Alpha Realty Group
  8. 3 beds, 2 full baths
    Home size: 2,142 sq ft
    Lot size: 1,071 sqft
    Year built: 1934
    Parking spots: 1
    Listing with: Elfant Wissahickon-Mt Airy
  9. 3 beds, 1 full, 1 part baths
    Home size: 1,106 sq ft
    Lot size: 1,277 sqft
    Listing with: Carrington Real Estate Services LLC
  10. 3 beds, 1 full bath
    Home size: 992 sq ft
    Lot size: 896 sqft
    Listing with: RE/MAX Prime Real Estate
  11. 7 beds, 3 full baths
    Home size: 2,560 sq ft
    Lot size: 1,966 sqft
    Year built: 1914
    Listing with: Elfant Wissahickon-Mt Airy
  12. 4 beds, 1 full bath
    Home size: 1,470 sq ft
    Lot size: 1,892 sqft
    Year built: 1936
    Listing with: RE/MAX Prime Real Estate
  13. 3 beds, 1 full bath
    Home size: 992 sq ft
    Lot size: 1,240 sqft
    Listing with: RE/MAX Prime Real Estate
  14. 3 beds, 1 full, 1 part baths
    Home size: 1,064 sq ft
    Lot size: 779 sqft
    Year built: 1924
    Listing with: Alpha Realty Group
  15. 2 beds, 1 full bath
    Home size: 1,080 sq ft
    Lot size: 975 sqft
    Year built: 1925
    Listing with: Century 21 Advantage Gold-Southampton
  16. 1 bed, 1 full, 1 part baths
    Home size: 1,138 sq ft
    Year built: 1914
    Parking spots: 1
    Listing with: Connor & Connor REO
  17. 3 beds, 1 full bath
    Home size: 1,428 sq ft
    Lot size: 1,147 sqft
    Year built: 1920
    Listing with: Connor & Connor REO
  18. 0 beds, 1 full, 2 part baths
    Home size: 2,080 sq ft
    Lot size: 1,600 sqft
    Year built: 1914
    Listing with: RE/MAX Action Realty-Horsham
  19. 0 beds, 0 baths
    Home size: 2,080 sq ft
    Lot size: 1,600 sqft
    Year built: 1914
    Listing with: RE/MAX Action Realty-Horsham
  20. 3 beds, 1 full bath
    Home size: 912 sq ft
    Lot size: 630 sqft
    Year built: 1939
    Listing with: BHHS Fox & Roach-Art Museum
  21. 3 beds, 1 full bath
    Home size: 1,244 sq ft
    Lot size: 886 sqft
    Year built: 1919
    Listing with: Carrington Real Estate Services LLC
  22. 0 beds, 1 full bath
    Home size: 453 sq ft
    Lot size: 453 sqft
    Year built: 1940
    Parking spots: 4
    Listing with: Brown & Pope Realtors
  23. 4 beds, 2 full baths
    Home size: 1,632 sq ft
    Lot size: 1,040 sqft
    Year built: 1920
    Listing with: Connor & Connor REO
  24. 3 beds, 1 full, 1 part baths
    Home size: 1,398 sq ft
    Lot size: 992 sqft
    Year built: 1914
    Listing with: Premier Real Estate Inc
  25. 3 beds, 1 full bath
    Home size: 822 sq ft
    Lot size: 952 sqft
    Year built: 1915
    Listing with: Carrington Real Estate Services LLC
  26. 0 beds, 0 baths
    Home size: 3,420 sq ft
    Lot size: 1,400 sqft
    Year built: 1914
    Listing with: Premier Real Estate Inc
  27. 4 beds, 1 full, 1 part baths
    Home size: 1,740 sq ft
    Lot size: 1,736 sqft
    Year built: 1950
    Listing with: Keller Williams Realty - Cherry Hill
  28. 3 beds, 1 full, 1 part baths
    Home size: 1,024 sq ft
    Lot size: 992 sqft
    Year built: 1925
    Listing with: Century 21 All Elite Inc-Brookhaven
  29. 4 beds, 1 full bath
    Home size: 1,480 sq ft
    Lot size: 1,312 sqft
    Year built: 1920
    Listing with: Trademark REO
  30. 0 beds, 0 baths
    Home size: 2,484 sq ft
    Lot size: 1,405 sqft
    Year built: 1939
    Listing with: RE/MAX Access

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

Philadelphia Foreclosures

Philadelphia Foreclosures

Intro To Philadelphia Foreclosures and Short Sales

Ask even the least experienced real estate novice and he or she will tell you that the latest trend in the real estate market are Philadelphia Foreclosures and Philadelphia short sales.  Philadelphia Foreclosures have been hot since the housing market crash because buyers believe that they will be able to purchase homes at deeply discounted prices.  This article will give a brief into to Philadelphia Foreclosures  and other types of distressed properties.

Distressed Property – A distressed property is a property in which the borrower (home owner) begins missing monthly mortgage payments and has defaulted on his promissory note.  For real estate purposes short sales,Philadelphia Foreclosures, and REOs qualify as distressed properties.  Philadelphia Foreclosures and other distressed properties typically sell for a price below fair market value.

Short Sale – A short sale is any sale of real estate in which the proceeds from the sale of the property are less than the outstanding debt on the property.  A short sale occurs when the debt holder agrees to release all liens against the property in exchange for an amount less than the total amount owed by the owner.

Philadelphia Foreclosures – A foreclosure is actually a legal process that occurs whenever a lender, usually a bank, attempts to recover the balance of a loan from a borrower (homeowner) who has ceased paying his or her debt.  At settlement buyers sign both a promissory note and a mortgage.  The promissory note is the contract that governs the terms of borrowed money and it includes things like the amount being borrowed, the interest rate and the repayment schedule.  The mortgage is the document that puts the property being purchased as collateral for repayment of the loan.  If the terms of the promissory note are not met the lender can use the mortgage to foreclose on the property and gain possession.  Once the lender has possession of the foreclosed property the lender will usually put the property up for sale as a Philadelphia Foreclosures and keep the proceeds from the sale.

REO – REO or “real estate owned” refers to foreclosed properties that are owned by banks.  Philadelphia REO is synonymous with Philadelphia Foreclosures. Once a borrower misses one or more monthly mortgage payments the lender will assess the amount of equity in the property and decide if a short sale is appropriate. If the property does not sell as a short sale and subsequently does not sell at sheriff’s sale the lender retakes possession of the property and it becomes part of the bank’s REO inventory.

About The Author: Understanding the process of buying Philadelphia Foreclosures can seem daunting but is really pretty simple if you read and follow this advice from Philadelphia Real Estate expert Frank L. DeFazio. Learn more about Philadelphia Foreclosures?

 

 

 

The data relating to real estate for sale on this website appears in part through the TREND Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Berkshire Hathaway Home Services, Fox & Roach participates, and is provided by TREND through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale.

Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.

Real estate listings held by brokerage firms other than are marked with the IDX icon and detailed information about each listing includes the name of the listing broker.

Information Deemed Reliable But Not Guaranteed

Data from the Zillow, Google Map, and Walk Score modules, is not provided by TREND, and should be considered informative, but not accurate.

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Data last updated: 12/12/14 8:47 PM PST.

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