By: Buck Wargo | Vegas Inc.

We’re all too familiar with the myriad stories about people who, because of an adjustable rate mortgage or job loss, have lost their home to foreclosure. But the bursting housing bubble depressed the economy and ultimately spread to the commercial side of the real estate equation that already had a glut of space from overbuilding during the Las Vegas boom market. Businesses closed or wanted to relocate to pay cheaper rent. Landlords of office, industrial and retail properties subsequently lost tenants and couldn’t afford to make their loan payments or banks wouldn’t extend loans made prior to the recession.

By Michael R. Dover | RE Journals

Distressed properties have long been a target for investors and the continuing weakness in the property market is luring many new players.  Foreclosure auctions involving lenders are a typical option investors use to acquire distressed properties.  However, many investors are acquiring properties by opting to purchase a foreclosing lender’s note and mortgage at a discount.  This article examines common pitfalls relating to collecting rents when an investor purchases a note and mortgage on distressed commercial properties.

Have you ever made an offer to a Bank on an REO property and been rejected? Of course you have. And you probably thought you were doing the bank a favor by making the offer. Did you get your feelings hurt? I would have if it happened to me. Here is a reason why you should always plan to be in the game by attending an auction.  Read more... (399 words, 1 image, estimated 1:36 mins reading time)

Recent article about the coming uptick in auctions. With these market conditions, we will only see more auctions.

Federal regulators are now putting tremendous pressure on banks to dispose of bad loans and properties that they’ve held for an excessive length of time. “According to RealtyTrac Senior Vice President Rick Sharga, major banks currently hold roughly 1 million REOs …,” Real Estate Insider News reports. “Only 30 percent have actually made it onto the market … that means 70 percent of the homes the banks have already foreclosed on are sitting vacant. These homes are all expected to hit the market in the next few months.”  Read more... (144 words, 2 images, estimated 35 secs reading time)