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Foreclosure/REO

REO is an abbreviation for a Real Estate Owned property. REOs and FORECLOSUREs are not the same thing. However, an REO is only produced as a result of a foreclosure where the lender has repossessed the property to re-sell.

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Welcome to So California’s Inland Empire; Known as “The IE,” to locals. Find local and regional news, market conditions, and homes for sale; stay informed about issues that affect the San Bernardino / Riverside county economy.

Loss Mitigation

Loss Mitigation is used to describe a third party assisting in the process of negotiation between a homeowner and their lender. Loss Mitigation works to negotiate terms for the homeowner that prevents foreclosure.

Short Sales

A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff less than the balance due on the loan typically executed to prevent foreclosure, but may or may not involve a property in foreclosure.

Home » General Interest, Local Interest

Google’s New Real Estate Search

Submitted by Mykel on Sunday, 30 August 2009No Comment
Google’s New Real Estate Search

Google has announced an improved home search that has been integrated into their Google Maps service. Here is a list of some of the features:

  • Typing in a query like ‘REO Homes for Sale in Rancho Cucamonga’ into Google Maps will plot available properties on the map.
  • The best match of results will be displayed with alphabet markers while other nearby properties are displayed as small circles.
  • Hovering your cursor over a marker will pop-up property information.

Google aggregates data from various sources, not just directly from the MLS’s. Don’t expect the results to always be up-to-date or 100% accurate.

While this functionality is nothing new for Google, they have now made it more accessible to the average consumer; this seems to indicate a renewed focus on the real estate market. Even though Google is a long way from competing with established search leaders like Zillow.com and Realtor.com, they have a history setting the pace on technology- so keep an eye on this.

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