Philadelphia Foreclosures and REO

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(all data current as of 9/12/2014)

  1. 3 beds, 2 full baths
    Home size: 1,407 sq ft
    Year built: 1933
    Listing with: Connor & Connor REO
  2. 2 beds, 1 full bath
    Home size: 700 sq ft
    Lot size: 686 sqft
    Year built: 1914
    Listing with: Premier Real Estate Inc
  3. 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
  4. 1 bed, 1 full bath
    Home size: 952 sq ft
    Year built: 1954
    Listing with: Trademark REO
  5. 3 beds, 2 full baths
    Home size: 1,024 sq ft
    Lot size: 2,655 sqft
    Listing with: Hampton Preferred Real Estate, Inc
  6. 1 bed, 1 full bath
    Home size: 1,014 sq ft
    Year built: 1978
    Parking spots: 1
    Listing with: Carrington Real Estate Services LLC
  7. 2 beds, 1 full bath
    Home size: 585 sq ft
    Lot size: 447 sqft
    Year built: 1914
    Listing with: Coldwell Banker Preferred-Old City
  8. 3 beds, 1 full bath
    Home size: 1,704 sq ft
    Lot size: 714 sqft
    Listing with: Elite Real Estate Management
  9. 3 beds, 1 full bath
    Home size: 810 sq ft
    Lot size: 705 sqft
    Year built: 1934
    Listing with: Vihi Realty Co.
  10. 0 beds, 0 baths
    Home size: 2,403 sq ft
    Lot size: 1,293 sqft
    Year built: 1919
    Listing with: Premier Real Estate Inc
  11. 2 beds, 1 full bath
    Home size: 868 sq ft
    Lot size: 623 sqft
    Year built: 1920
    Listing with: Gamba & Levin Real Estate, LLC
  12. 0 beds, 0 baths
    Home size: 2,114 sq ft
    Lot size: 1,376 sqft
    Year built: 1916
    Listing with: Carrington Real Estate Services LLC
  13. 5 beds, 2 full baths
    Home size: 1,700 sq ft
    Lot size: 704 sqft
    Year built: 1924
    Listing with: Premier Real Estate Inc
  14. 2 beds, 1 full bath
    Home size: 972 sq ft
    Year built: 1915
    Listing with: Hampton Preferred Real Estate, Inc
  15. 0 beds, 0 baths
    Home size: 1,178 sq ft
    Lot size: 1,421 sqft
    Year built: 1920
    Listing with: Premier Real Estate Inc
  16. 3 beds, 1 full, 1 part baths
    Home size: 1,380 sq ft
    Lot size: 1,478 sqft
    Year built: 1939
    Listing with: Elfant Wissahickon-Mt Airy
  17. 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
  18. 3 beds, 1 full bath
    Home size: 1,194 sq ft
    Lot size: 900 sqft
    Year built: 1915
    Listing with: Connor & Connor REO
  19. 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
  20. 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
  21. 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
  22. 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
  23. 4 beds, 2 full baths
    Home size: 1,645 sq ft
    Lot size: 855 sqft
    Year built: 1917
    Listing with: RE/MAX Prime Real Estate
  24. 3 beds, 1 full bath
    Home size: 1,070 sq ft
    Lot size: 708 sqft
    Year built: 1929
    Listing with: Premier Real Estate Inc
  25. 3 beds, 1 full bath
    Home size: 1,032 sq ft
    Lot size: 892 sqft
    Year built: 1924
    Listing with: Connor & Connor REO
  26. 3 beds, 1 full bath
    Home size: 1,058 sq ft
    Lot size: 1,070 sqft
    Year built: 1915
    Listing with: Century 21 Chapel Realty - Cheltenham
  27. 3 beds, 1 full bath
    Home size: 1,024 sq ft
    Lot size: 700 sqft
    Year built: 1939
    Listing with: Elite Real Estate Management
  28. 3 beds, 1 full bath
    Home size: 800 sq ft
    Lot size: 630 sqft
    Year built: 1919
    Listing with: Premier Real Estate Inc
  29. 1 bed, 1 full bath
    Home size: 933 sq ft
    Year built: 2006
    Parking spots: 1
    Listing with: Premier Real Estate Inc
  30. 0 beds, 0 baths
    Home size: 1,675 sq ft
    Lot size: 1,245 sqft
    Year built: 1925
    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?

 

 

 

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: 9/12/14 12:48 AM PDT.

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This IDX solution is (c) Diverse Solutions 2014.