foreclosures: A Buyers Guide to Foreclosures - 06/30/12 07:30 PM
Hot off the press. Check out my new book: "A Buyers Guide to Foreclosures."
Also recommended for real estate agents who want to learn about foreclosures.
Buyer it at www.lulu.com/spotlight/nmiller7878
(2 comments)

foreclosures: BofA to test new Foreclosure Pilot Program - 03/24/12 12:10 PM
Bank of America has started a new foreclosure/lease program where they will allow some delinquent home owners transfer title back to BofA (forgiving their mortgage) and in return,BofA will lease the home back to the owner at or below market rents for up to 3 years. In my opinion, this "Mortgage to Lease" pilot program will never work and is merely a way of trying to regain favor in the public eye.
Why do I think it will never work? The same reason why "Deeds in Lieu" are never a successful (and rarely sought after) alternative to foreclosure. The typical person … (2 comments)

foreclosures: Distressed Property Statistics - 03/04/12 09:53 AM
I just returned from the Coldwell Banker GenBlue Convention in New Orleans. I attended several great courses including the CRS 112: Guiding the Buyer in the Distressed Property Market. This course offered good statistics and facts regarding the distressed property market:
100% of all Real Estate Owned (REO's) will be sold
50% of all owner occupied homes will be sold
Average market price across the U.S. is $200,000.
The Treasury Department predicts that this market will continue for another 10 years.
Currently their are 6 million homes in default or underwater.
30% of sales in 2011 were distressed properties. That is … (3 comments)

foreclosures: Adventures of an REO Agent - 01/24/12 11:18 PM
It was a cold February morning. I was standing on the porch of an old rundown home built around 1920 that had been vacant and abandoned for years. The home was located in downtown Jackson on the appropriately named Hooker St. Right behind me were two guys hired from Labor Finders by the owner of this dump to complete a trash-out of this property. Now this place was full of trash...up to your knees in feces, old urine stained clothes, porn mags, used condoms, furniture, dead rats, roaches and just about any other disgusting item you could think of. I knew … (1 comments)

foreclosures: Foreclosure isn't always a 4 letter word - 01/11/12 10:32 PM
This is an excerpt from a book I am writing called: "Buyers Guide to Foreclosures." I would love to hear from the AR community regarding feedback, comments or suggestions on the below statements.
Now, I want to challenge your assumptions for a moment by making a statement that may seem counter intuitive or heretical: foreclosures aren’t necessarily a bad thing, and banks aren’t necessarily bad for foreclosing on a home (a view you may argue with if you have been foreclosed on). Because of the banks legal ability to foreclose on a home, you and I are able to obtain a … (1 comments)

foreclosures: Living in a Dead Zone - 12/18/11 10:14 PM
Imagine being one of the first home buyers to purchase a home in a new subdivision where the developer has plans to build out at least 100 homes, only to go broke shortly after your purchase, leaving the neighborhood a virtual wasteland. There are several neighborhoods in my area where this was the case. Maybe 10% of the projected homes were built out, the rest are just vacant, overgrown lots.
Let's say the value of your home was $200,000 when purchased. But that value was largely based on the assumed completion of the neighborhood. But now that development has stopped way … (2 comments)

foreclosures: Foreclosure No Longer a Stigma - 11/27/11 10:29 AM
With housing prices on the decline and defaults on the rise, more and more people are walking away from their mortgage, not as a last ditch effort, but more as a first option.
It seems that the stigma of being foreclosed on is quickly dissipating as more and more homeowners are making the decision of strategic default, treating the process of foreclosure more as a business deal instead of a personal obligation. And it seems that the consequences of foreclosure may be slacking as well. There are companies out there that actually guide people through a strategic default. I guess this is another way … (2 comments)

foreclosures: Foreclosures on the rise, Good opportunity for Investors - 11/19/11 07:03 PM
With the future of the economy still uncertain, and mortgage default notices being filed at breakneck speed, is there any reason to be optimistic about the real estate market today?
I guess that would all depend on who you are. For investors who can get their hands on some cash, this is a great market to be in. As the pendulum of supply and demand continues to swing higher and higher on the supply side, prices will continue to fall, which equals a great buying opportunity.
And not only that, but as more and more people are being displaced from their homes, … (0 comments)

 
Nick Miller (Coldwell Banker Graham & Assoc.)

Nick Miller

Jackson, MS

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Coldwell Banker Graham & Assoc.

Address: 7736 Old Canton Rd. Suite A, Madison, MS, 39110

Office: (601) 607-4770

Mobile: (601) 613-7878

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