1. FINDING REAL ESTATE DEALS WHEN DISTRESS DRIES UP
Interest in foreclosures is heating up even as the foreclosure market dries up
From the May 2017 Housing News Report

2. Q1 2017 FORECLOSURE ACTIVITY VS. PRE-RECESSION LEVELS
The Off-Market Marketplace
Q FORECLOSURE ACTIVITY VS. PRE-RECESSION LEVELS
Pct Change From Pre-Recession Avg
-440.8%
2204.2%
“What’s been hot is some of the off-market stuff. … There is quite a bit of the pie that does get moved around, legitimately, but just off-market.”
Leland DiMeco
Owner and principal broker, Boston Green Realty

3. CONSTRUCTION LOAN VOLUME IN SELECT MARKETS
Infill Filling in the Gap
CONSTRUCTION LOAN VOLUME IN SELECT MARKETS
2015
2016
Pct Change
$10 Billion
$9 Billion
$8 Billion
$7 Billion
$6 Billion
$5 Billion
$4 Billion
$3 Billion
$2 Billion
$1 Billion $0
80%
70%
60%
50%
40%
30%
20%
10%
73%
51%
26% 9%
“They’re scraping full blocks in very expensive areas and putting in apartment buildings. And they’re getting what they ask for. … It baffles me when I drive around.”
Chris Richter
Co-founder, Audantic real estate analytics, Seattle
Washington, DC
Cleveland
Seattle
Los Angeles

4. FORECLOSURE AUCTIONS MORE COMPETITIVE
Fewer Deals at Foreclosure Auction
FORECLOSURE AUCTIONS MORE COMPETITIVE
Pct of Foreclosure Auctions Sold to Third Party Investors
Avg Discount to Last Sale Price
60%
50%
40%
30%
20%
10% 0%
50%
“A record-high percentage of foreclosures are selling to third- party investors rather than transferring back to the foreclosing bank.”
28%

5. HOME FLIPPING PROPERTY CHARACTERISTICS
Rehabbing Older, Smaller Homes
HOME FLIPPING PROPERTY CHARACTERISTICS
Median square footage
Median age
37% 40 35 30 25 20 15 10 5
1,490
1,480
1,470
1,460
1,450
1,440
1,430
1,420
1,410
1,400
1,390
$329,172
“(Flipping) is a great way for properties to be bought from a lender or from a seller who has deferred maintenance and to put them in a position where they are move-in ready,”.
Matthew Watercutter
Broker of record, HER Realtors, Columbus, Ohio

6. $20 BILLION IN DISTRESSED LOAN SALES
$20 Billion in Distressed Notes
$20 BILLION IN DISTRESSED LOAN SALES
Unpaid Principal Balance
$13,484,688,271
If you are a property guy and not a note guy, you are saying ‘there’s no inventory, (but) it’s hard to argue with $20 billion in distressed notes selling in the last 20 months, and that’s just the ones reported in the press.”
Non-Performing Loans Sold
80,796
Unpaid Principal Balance
$8,457,000,000
Non-Performing Loans Sold
41,679
Eddie Speed
Founder of NoteSchool Southlake, Texas

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