Get ‘em before they’re gone!

CNBC Real Estate Reporter Diana Olick today reports that bank-owned foreclosures (also known as REOs) and short sales — both of which fall under the distressed real estate umbrella — accounted for nearly 50 percent of all home sales in Dec. 2010.

The 47 percent share is up from 44.5 percent in Nov. 2010.

Low interest rates, as well as delayed sales agreements that were finally pushed through after “robo-signing scandal” concerns were alleviated, are the primary reasons behind the major spike.

Thomas Popik of Campbell/Inside Mortgage Finance explains:

“There were signed purchase and sale agreements, and those closings were delayed until the paperwork was reviewed. The major servicers pulled from the market houses that had been listed, and buyers were found. Once those transactions went back on, then they closed, and that’s what bumped up these December statistics so much.”

Keep in mind that home sales are typically down during the holidays, which makes this news even more remarkable because real estate business was actually up 12.3 percent (seasonally adjusted) to close 2010.

To search foreclosed homes and short sale listings for sale in your area click here.

Be sure to hurry … the distressed real estate market is fast and furious. The best deals don’t last long!

Foreclosure is the ultimate contradiction: It’s horrible for those who have to endure it yet fantastic for those who can capitalize on their misfortune.

It’s the way things have always been and will continue to be seemingly forever.

Wall Street Journal today published a great story about the “Faces of the home foreclosure crisis,” which highlights all sides of the process, including the first-time homeowners who were able to buy a home that they otherwise never thought they could afford just two years ago.

The future Mr. and Mrs. Sands of Seattle, Wash., recently scooped up a $300,000 lakefront home, saving nearly $70,000 on the final purchase price. It’s a far cry from their former “cramped $600-a-month studio apartment.”

Mr. Sands, naturally, is thrilled about the buy:

“This is a freaking dream house…. We wouldn’t have been able to afford a house if the market hadn’t dropped…. It should be an inspiration to any other people like us. Being able to buy a home is one of the most important decisions you can make.”

Indeed, the housing nightmare really is a dream for some. And in a struggling economy, which has forced way too many families out of their homes, it’s good to know that it at least opens the door for other deserving folks.

To search foreclosed homes for sale in Seattle and elsewhere throughout the nation click here.

Right now, during the winter months, according to National Association of Realtors® President, Ron Phipps.

He elaborates in a recent press release:

“Traditionally there are far fewer buyers competing for properties at this time of the year, so serious buyers have a lot of opportunities during the winter months. Buyers will enjoy favorable affordability conditions into the new year, although mortgage rates are expected to gradually rise as 2011 progresses.”

Translation: If you’re serious about buying, the time to do it is now … before New Year resolutions, as well as higher interest rates, begin to kick in.

To search foreclosed homes for sale in your area, including short sales and other distressed real estate deals, click here. You can expect to save 10 to 15 percent at a minimum and up to 50 to 60 percent!

Hurry … the best deals don’t last very long. At all.

We hope that 2010 was chock full of happiness, health and the start of a prosperous real estate investment career.

Now it’s time to decide if you want to relax and enjoy your success or take your business up a notch in the New Year and beyond.

The December 2010 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which focuses on helping you assess you situation, as well as the bevvy of fantastic investment opportunities hiding right in your backyard.

It has literally never been easier to take advantage of the world’s simplest business principle of buying low and selling high.

Grab the last great buys of 2010 and start hunting down the deals for 2011. Hang onto those properties until the next market upswing and you’ll be looking forward to some tidy profits to fatten your bank account.

To learn everything you need to know about “Repeat or Relax” click here.

You’ve gotten the ball rolling, so keep it rolling. Let’s finish the year off with a bang and start 2011 off with a KA-BLAM!

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

Stubborn distressed homeowners. Possible legal wrangling. Skeptical secondary post-flip buyers.

These are now all major concerns for cash-laden real estate investors who were snatching up foreclosed homes from banks, renovating and then re-selling them for profits several weeks later, according to CNN.com.

What happened?

Several major banks recently put the “freeze” on foreclosure sales to investigate improper “robo-signed” paperwork. There were legitimate concerns that homeowners were evicted carelessly and perhaps even fraudulently in assembly line-like fashion.

The good news is that the banks have began correcting their mistakes, which were overall relatively minor. The bad news is that it has freaked out investors, which were propping up an unstable housing market, and in the process, rehabbing community eyesores.

This about sums up the situation:

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