Philadelphia Foreclosures and REO

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(all data current as of 4/24/2014)

  1. 3 beds, 4 full baths
    Home size: 1,960 sq ft
    Lot size: 1,024 sqft
    Year built: 1915
    Listing with: Long and Foster-Devon
  2. 3 beds, 2 full baths
    Lot size: 12,000 sqft
    Year built: 1973
    Parking spots: 2
    Listing with: Realhome Services and Solutions
  3. 3 beds, 1 full bath
    Home size: 1,156 sq ft
    Lot size: 1,152 sqft
    Year built: 1937
    Listing with: Buy This House
  4. 3 beds, 1 full, 1 part baths
    Home size: 1,445 sq ft
    Lot size: 1,695 sqft
    Year built: 2007
    Listing with: Walter M Wood Jr Inc
  5. 3 beds, 1 full bath
    Home size: 1,260 sq ft
    Lot size: 976 sqft
    Year built: 1923
    Listing with: Vihi Realty Co.
  6. 3 beds, 1 full bath
    Home size: 1,140 sq ft
    Lot size: 825 sqft
    Year built: 1934
    Listing with: Premier Real Estate Inc
  7. 3 beds, 1 full bath
    Home size: 960 sq ft
    Lot size: 1,112 sqft
    Year built: 1934
    Listing with: Premier Real Estate Inc
  8. 3 beds, 1 full bath
    Home size: 900 sq ft
    Lot size: 672 sqft
    Year built: 1934
    Listing with: Rittenhouse REO Specialist
  9. 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
  10. 3 beds, 1 full, 1 part baths
    Home size: 987 sq ft
    Lot size: 1,240 sqft
    Year built: 1934
    Parking spots: 1
    Listing with: Century 21 All Elite Inc-Brookhaven
  11. 2 beds, 1 full bath
    Home size: 780 sq ft
    Lot size: 624 sqft
    Year built: 1910
    Listing with: Connor & Connor REO
  12. 3 beds, 1 full, 1 part baths
    Home size: 1,120 sq ft
    Lot size: 982 sqft
    Listing with: Carp-Banik and Mathew, LLC
  13. 0 beds, 0 baths
    Lot size: 12.80 ac
    Year built: 2014
    Listing with: Prudential Landis Homesale-Schuylkill Haven
  14. 2 beds, 1 full, 1 part baths
    Home size: 1,236 sq ft
    Lot size: 1,236 sqft
    Year built: 2008
    Listing with: Premier Real Estate Inc
  15. 0 beds, 0 baths
    Home size: 1,600 sq ft
    Lot size: 930 sqft
    Year built: 1929
    Listing with: Walter M Wood Jr Inc
  16. 3 beds, 2 full, 1 part baths
    Home size: 1,722 sq ft
    Lot size: 14,211 sqft
    Year built: 2002
    Parking spots: 3
    Listing with: Trademark Real Estate
  17. 2 beds, 1 full bath
    Home size: 826 sq ft
    Lot size: 1,232 sqft
    Year built: 1939
    Listing with: Vihi Realty Co.
  18. 3 beds, 1 full bath
    Home size: 896 sq ft
    Lot size: 800 sqft
    Year built: 1925
    Listing with: Century 21 Advantage Gold-Elkins Park
  19. 3 beds, 2 full, 1 part baths
    Home size: 2,240 sq ft
    Lot size: 10,066 sqft
    Year built: 2003
    Parking spots: 4
    Listing with: BHHS Fox & Roach-Allentown
  20. 0 beds, 0 baths
    Lot size: 1,600 sqft
    Year built: 2014
    Listing with: Connor & Connor REO
  21. 0 beds, 0 baths
    Lot size: 1.12 ac
    Year built: 2014
    Listing with: Long and Foster-Doylestown
  22. 4 beds, 1 full bath
    Home size: 1,588 sq ft
    Lot size: 1,503 sqft
    Year built: 1915
    Listing with: Long and Foster-Blue Bell
  23. 0 beds, 0 baths
    Year built: 2014
    Listing with: REOcomplete Real Estate-Plymouth Meeting
  24. 3 beds, 1 full bath
    Home size: 1,434 sq ft
    Lot size: 1,550 sqft
    Year built: 1925
    Listing with: Century 21 All Elite Inc-Brookhaven
  25. 1 bed, 1 full bath
    Home size: 745 sq ft
    Lot size: 200 sqft
    Year built: 2007
    Listing with: Walter M Wood Jr Inc
  26. 2 beds, 1 full bath
    Home size: 832 sq ft
    Lot size: 630 sqft
    Year built: 1914
    Listing with: BHHS Fox & Roach-Art Museum
  27. 2 beds, 1 full bath
    Home size: 784 sq ft
    Lot size: 700 sqft
    Year built: 1932
    Listing with: Elfant Wissahickon-Mt Airy
  28. 3 beds, 1 full, 1 part baths
    Home size: 920 sq ft
    Lot size: 672 sqft
    Listing with: Coldwell Banker Preferred-Old City
  29. 3 beds, 1 full bath
    Home size: 1,500 sq ft
    Lot size: 1,032 sqft
    Year built: 1929
    Listing with: Horizon Properties Inc
  30. 3 beds, 1 full bath
    Home size: 1,176 sq ft
    Lot size: 796 sqft
    Year built: 1939
    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: 4/23/14 11:50 PM PDT.

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This IDX solution is (c) Diverse Solutions 2014.