Philadelphia Foreclosures and REO

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(all data current as of 10/2/2014)

  1. 3 beds, 1 full bath
    Home size: 982 sq ft
    Lot size: 851 sqft
    Year built: 1934
    Listing with: Century 21 All Elite Inc-Brookhaven
  2. 3 beds, 1 full bath
    Home size: 1,596 sq ft
    Lot size: 1,449 sqft
    Year built: 1920
    Listing with: Elfant Wissahickon-Mt Airy
  3. 0 beds, 0 baths
    Home size: 2,484 sq ft
    Lot size: 1,405 sqft
    Year built: 1939
    Listing with: RE/MAX Access
  4. 2 beds, 1 full bath
    Home size: 980 sq ft
    Lot size: 728 sqft
    Listing with: Elite Real Estate Management
  5. 2 beds, 2 full baths
    Home size: 1,610 sq ft
    Year built: 1934
    Parking spots: 2
    Listing with: Century 21 All Elite Inc-Brookhaven
  6. 0 beds, 0 baths
    Home size: 1,783 sq ft
    Lot size: 1,543 sqft
    Listing with: RE/MAX Prime Real Estate
  7. 3 beds, 1 full bath
    Home size: 1,198 sq ft
    Lot size: 940 sqft
    Listing with: Vihi Realty Co.
  8. 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
  9. 3 beds, 1 full bath
    Home size: 1,088 sq ft
    Lot size: 832 sqft
    Year built: 1934
    Listing with: Summit Real Estate
  10. 5 beds, 2 full baths
    Home size: 2,319 sq ft
    Lot size: 1,198 sqft
    Year built: 1915
    Listing with: RE/MAX Prime Real Estate
  11. 3 beds, 1 full bath
    Home size: 1,062 sq ft
    Lot size: 1,143 sqft
    Year built: 1925
    Parking spots: 2
    Listing with: Elfant Wissahickon-Mt Airy
  12. 3 beds, 1 full bath
    Home size: 940 sq ft
    Lot size: 672 sqft
    Year built: 1924
    Listing with: Century 21 All Elite Inc-Brookhaven
  13. 3 beds, 1 full bath
    Home size: 1,444 sq ft
    Lot size: 1,280 sqft
    Year built: 1929
    Listing with: BHHS Fox & Roach-Newtown Square
  14. 2 beds, 1 full bath
    Home size: 912 sq ft
    Lot size: 612 sqft
    Year built: 1905
    Listing with: Connor & Connor REO
  15. 4 beds, 2 full baths
    Home size: 1,272 sq ft
    Lot size: 1,705 sqft
    Year built: 1934
    Listing with: Elfant Wissahickon-Mt Airy
  16. 3 beds, 2 full baths
    Home size: 1,407 sq ft
    Year built: 1933
    Listing with: Connor & Connor REO
  17. 3 beds, 1 full bath
    Home size: 1,294 sq ft
    Lot size: 1,507 sqft
    Year built: 1925
    Listing with: Century 21 All Elite Inc-Brookhaven
  18. 1 bed, 1 full bath
    Home size: 952 sq ft
    Year built: 1954
    Listing with: Trademark REO
  19. 1 bed, 1 full bath
    Home size: 1,014 sq ft
    Year built: 1978
    Parking spots: 1
    Listing with: Carrington Real Estate Services LLC
  20. 3 beds, 1 full bath
    Home size: 1,704 sq ft
    Lot size: 714 sqft
    Listing with: Elite Real Estate Management
  21. 0 beds, 0 baths
    Home size: 2,403 sq ft
    Lot size: 1,293 sqft
    Year built: 1919
    Listing with: Premier Real Estate Inc
  22. 3 beds, 1 full bath
    Home size: 810 sq ft
    Lot size: 705 sqft
    Year built: 1934
    Listing with: Vihi Realty Co.
  23. 2 beds, 1 full bath
    Home size: 868 sq ft
    Lot size: 623 sqft
    Year built: 1920
    Listing with: Gamba & Levin Real Estate, LLC
  24. 2 beds, 1 full bath
    Home size: 972 sq ft
    Year built: 1915
    Listing with: Hampton Preferred Real Estate, Inc
  25. 0 beds, 0 baths
    Home size: 1,178 sq ft
    Lot size: 1,421 sqft
    Year built: 1920
    Listing with: Premier Real Estate Inc
  26. 2 beds, 2 full, 1 part baths
    Home size: 1,441 sq ft
    Lot size: 19,768 sqft
    Year built: 1925
    Listing with: Connor & Connor REO
  27. 3 beds, 1 full bath
    Home size: 1,194 sq ft
    Lot size: 900 sqft
    Year built: 1915
    Listing with: Connor & Connor REO
  28. 4 beds, 1 full bath
    Home size: 1,986 sq ft
    Lot size: 1,266 sqft
    Year built: 1915
    Listing with: Carrington Real Estate Services LLC
  29. 0 beds, 0 baths
    Home size: 1,840 sq ft
    Lot size: 1,900 sqft
    Year built: 1924
    Listing with: Century 21 All Elite Inc-Brookhaven
  30. 4 beds, 2 full baths
    Home size: 1,650 sq ft
    Lot size: 1,911 sqft
    Year built: 1929
    Listing with: Premier Real Estate Inc

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: 10/2/14 10:53 AM PDT.

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