Home Search - Find Real Estate for Sale from Bank of America (2024)

FAQs

Where do most buyers find their homes? ›

Among those who financed their home purchase, buyers typically financed 85% of the home price. 89% of buyers purchased their home through a real estate agent or broker. Where buyers found the home they purchased: Internet: 52%

The most common definition of an REO (Real Estate Owned) is a property that has gone into foreclosure and didn't sell during auction. If the foreclosed home doesn't sell, the ownership defaults to the original bank or lender.

You can find some motivated sellers on the main listing sites like Zillow, Redfin, and Trulia. Others may be using a local agent through Realtor.com. If you want to use property sites to find motivated sellers, try searching for any properties with an asking price significantly below market value (at least 20% off).

The Notice of Default tells you the amount you owe in missed payments and foreclosure fees. You have 90 days from the date the Notice of Default is recorded to pay what you owe. If you pay the amount on the Notice of Default, the lender cannot sell your home.

If you're wondering what percentage you should put down on a house, 20% down is the rule of thumb, but there is no one-size-fits-all figure. For example, some loan programs require a down payment as little as 3% or 5%, and some don't require a down payment at all.

Who has the most accurate home values? ›

Zillow offers one of the most accurate estimators overall. Being one of the top real estate sites on the internet, Zillow has a very accurate estimator that has helped many people in their journey to sell their homes. Most people turn to Zillow for all of their real estate needs.

The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%. The Zestimate's accuracy depends on the availability of data in a home's area.

Other real estate (ORE), also referred to as Other Real Estate Owned (OREO), consists of real property held for reasons other than to conduct the s business of the bank or savings association (referred to as “institutions”).

R/O: Resident Occupied.

Lenders typically sell REO properties on an as-is basis. This means they will not make any (major) repairs or renovations prior to selling. These properties are often in disrepair, so it's crucial to have a thorough home inspection and be prepared to make (and pay for) renovations that may be needed.

Key Insights on Top Real Estate Websites in the United States in April 2024. As of April 2024, zillow.com is the most visited Real Estate website in the United States, attracting 278.99M monthly visits. craigslist.org follows with 168.24M visits, and realtor.com records 101.84M visits.

The East of England (-1.7%), the South East (-1.6%) and the South West (-1.4%) are the worst hit when it comes to house price falls. London and the East Midlands are the final two regions where house prices have fallen over the last year, although these are minor at -0.7% and -0.2% respectively.