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Ryan T asked:
I compiled a list of foreclosures off realtytrac.com and I am doing a demographic study of the affected zip code. The web site differentiates between the following terms:
I compiled a list of foreclosures off realtytrac.com and I am doing a demographic study of the affected zip code. The web site differentiates between the following terms:
Pre-foreclosure; Auction; Bank-owned; FSBO; Resale
Any knowledge at what determines the housing status would be greatly appreciated, it doesnt have to be too detailed, I just want to be able to filter what I need.
Tags: Demographic Study, Foreclosure Auction, Foreclosures, Pre Foreclosure
June 2nd, 2008 |
Tags: Demographic Study, Foreclosure Auction, Foreclosures, Pre Foreclosure
June 4th, 2008 at 2:25 pm
Pre-foreclosure - this means the bank has given the owners a chance to become current on an overdue mortgage.
Auction: home is foreclosed and going to public auction.
Bank-owned: the bank has foreclosed and taken back legal ownership of the property.
FSBO: For Sale By Owner
Resale: Being sold after prior ownership.
June 6th, 2008 at 8:11 am
Pre-foreclosure would be a house that is currently behind in payments, but not yet in foreclosure.
Auction would be a house that was foreclosed and auctioned off to the highest bidder.
Bank-owned would be a house that was foreclosed and the bank has taken back ownership of the house. It hasn’t yet been sold or auctioned.
FSBO - For Sale By Owner
Resale - not sure the context, but probably means it was sold one way or other.