Philadelphia Foreclosures and REO

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(all data current as of 8/1/2014)

  1. 3 beds, 1 full bath
    Home size: 1,032 sq ft
    Lot size: 722 sqft
    Year built: 1963
    Listing with: Connor & Connor REO
  2. 2 beds, 1 full bath
    Home size: 896 sq ft
    Lot size: 1,080 sqft
    Year built: 1955
    Listing with: Keller Williams Real Estate-Horsham
  3. 3 beds, 1 full bath
    Home size: 784 sq ft
    Lot size: 679 sqft
    Year built: 1915
    Listing with: Elfant Wissahickon-Mt Airy
  4. 1 bed, 1 full, 1 part baths
    Home size: 1,005 sq ft
    Year built: 1956
    Parking spots: 1
    Listing with: Long and Foster-Devon
  5. 3 beds, 1 full bath
    Home size: 1,064 sq ft
    Lot size: 784 sqft
    Year built: 1915
    Listing with: Vihi Realty Co.
  6. 0 beds, 0 baths
    Home size: 2,250 sq ft
    Lot size: 2,460 sqft
    Year built: 1929
    Listing with: Premier Real Estate Inc
  7. 1 bed, 1 full bath
    Home size: 956 sq ft
    Lot size: 956 sqft
    Year built: 1950
    Listing with: Vihi Realty Co.
  8. 3 beds, 1 full bath
    Home size: 986 sq ft
    Lot size: 687 sqft
    Year built: 1920
    Listing with: RE/MAX Prime Real Estate
  9. 4 beds, 1 full bath
    Home size: 1,319 sq ft
    Lot size: 667 sqft
    Year built: 1929
    Listing with: Hampton Preferred Real Estate, Inc
  10. 0 beds, 0 baths
    Home size: 1,126 sq ft
    Lot size: 884 sqft
    Year built: 1924
    Listing with: Premier Real Estate Inc
  11. 3 beds, 2 full, 1 part baths
    Home size: 2,719 sq ft
    Year built: 1980
    Parking spots: 2
    Listing with: Carrington Real Estate Services LLC
  12. 3 beds, 1 full, 1 part baths
    Home size: 1,100 sq ft
    Lot size: 2,326 sqft
    Year built: 1957
    Listing with: Hampton Preferred Real Estate, Inc
  13. 3 beds, 1 full bath
    Home size: 960 sq ft
    Lot size: 1,472 sqft
    Year built: 1939
    Listing with: Premier Real Estate Inc
  14. 4 beds, 1 full bath
    Home size: 1,560 sq ft
    Lot size: 1,455 sqft
    Year built: 1915
    Listing with: Long and Foster-Devon
  15. 2 beds, 1 full bath
    Home size: 812 sq ft
    Lot size: 700 sqft
    Year built: 1914
    Listing with: Century 21 Advantage Gold-Southampton
  16. 3 beds, 1 full bath
    Home size: 960 sq ft
    Lot size: 1,600 sqft
    Year built: 1915
    Listing with: Long and Foster-Devon
  17. 3 beds, 1 full bath
    Home size: 1,056 sq ft
    Lot size: 944 sqft
    Year built: 1925
    Listing with: Keller Williams Real Estate Tri-County
  18. 3 beds, 1 full bath
    Home size: 1,350 sq ft
    Lot size: 1,152 sqft
    Year built: 1929
    Listing with: Vihi Realty Co.
  19. 1 bed, 1 full bath
    Home size: 722 sq ft
    Listing with: BHHS Fox & Roach-CC Rittenhouse Hotel
  20. 3 beds, 1 full bath
    Home size: 1,127 sq ft
    Lot size: 1,184 sqft
    Year built: 1920
    Parking spots: 1
    Listing with: Century 21 Premier Realty
  21. 3 beds, 1 full bath
    Home size: 1,260 sq ft
    Lot size: 825 sqft
    Listing with: Coldwell Banker Preferred-Old City
  22. 0 beds, 0 baths
    Lot size: 1,600 sqft
    Year built: 2014
    Listing with: Elfant Wissahickon-Mt Airy
  23. 4 beds, 1 full bath
    Home size: 1,480 sq ft
    Lot size: 1,312 sqft
    Year built: 1922
    Listing with: Coldwell Banker Preferred-Old City
  24. 1 bed, 1 full bath
    Home size: 1,417 sq ft
    Year built: 1964
    Listing with: Premier Real Estate Inc
  25. 0 beds, 0 baths
    Home size: 2,424 sq ft
    Lot size: 799 sqft
    Year built: 1934
    Listing with: RE/MAX Prime Real Estate
  26. 1 bed, 1 full bath
    Home size: 879 sq ft
    Year built: 2003
    Listing with: Century 21 Advantage Gold-Elkins Park
  27. 3 beds, 1 full bath
    Home size: 1,020 sq ft
    Lot size: 960 sqft
    Year built: 1934
    Listing with: Vihi Realty Co.
  28. 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
  29. 1 bed, 1 full bath
    Home size: 850 sq ft
    Lot size: 850 sqft
    Year built: 1994
    Listing with: Vihi Realty Co.
  30. 4 beds, 1 full bath
    Home size: 1,734 sq ft
    Lot size: 2,006 sqft
    Year built: 1915
    Listing with: Elfant Wissahickon-Mt Airy

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?

 

 

 

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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.

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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: 8/1/14 3:57 AM PDT.

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