Foreclosure

Best Time to Buy is Now

When is the best time to buy? When everyone else is selling. The biggest fortunes have always been made during economic downturns by forward-looking individuals who buy when the market it at the lowest point. As Warren Buffet said, “be fearful when others are greedy and to be greedy only when others are fearful.” Buy low, sell high. No commodity demonstrates this contrarian market strategy better than purchase of real estate.

Right now there is around a 12 month supply of homes for sale in many markets, and in many cases at least a third of those homes are distressed. The next two to three years are expected to see near record high housing supply on the market and depressed prices. Many sellers continue to be desperate to get out from under over-valued mortgages and many are forced to sell because of unemployment and underemployment. When people are selling low, that is the best time to buy.

Many of the major lenders are gearing up to do more business with Short Sales over the next year or two because they realize that they can maintain better value in the distressed property if they do not take the owner all the way to foreclosure. Again, with lenders ready to deal, that’s the ideal time to buy.

Investors who are a little hesitant to jump in ask, “If everyone is selling, will I find a buyer?” That’s a good question, and it can simply be answered this way: If you buy it right and put it back on the market at an attractive price, then there will always be a buyer. There are some things you can do to hedge your bets:

Target your “farming” area to neighborhoods and price ranges that are attractive to all cash buyers. If you don’t have a feel for which areas are highly desirable to cash buyers have your buyer’s agent check recently solds in several target areas to determine who is buying, whether they are buying for cash or are financing, and what the recently sold prices were in the area. This will tell you three things: which areas to target for Short Sales, the price range of properties to target, and the price you can expect to get for the properties you tie up in a transactional Short Sale. Additionally, you should be able to see what lenders have been accepting for Short Sales in the area. You’ll then know what your average profit is going to be.

If you buy to flip rather than to hold you minimize the risk of losing any money if your Purchase and Sale Agreement is structured correctly. If you concentrate on putting many deals in the pipeline the deals that fall through will pale in comparison with the profit that comes in from the regular closings that your pipeline creates.

There are tons of ways to make money in real estate, but all of them are useless unless you have a steady flow of motivated sellers and qualified buyers coming into your business. When you have a solid pipeline of prospects, you pick and choose the best of the best and finally take control of your financial future.

Article Source: Ezine Articles Bob Massey

Donna Sanford

Phone: 888 381 8654
Email: donna@yoursolution4re.com

Real Estate Investor | Short Sale Professional
Real Estate Transaction Negotiator | Real Estate Investing Services

Your Solution 4 Real Estate, Inc.
Bauer Hill & Associates, LLC
Area Short Sale Pros, LLC
Tri-County Capital Partners, LLC

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Area Short Sale Pros, LLC negotiates short sales on behalf of homeowners, Realtors and buyers/investors and we act as a neutral third party in the transaction. We have partnered with the best short sale negotiators who have over 50 years of combined industry experience and focus specifically on Short Sales. What makes us unique is our extensive contacts with lenders who know we are working for both buyer and seller as a third party negotiator and this gives us the “edge” over others. We service customers in all 50 states and work with all lenders and mortgage servicers. We are professionals with a proven track record for achieving positive outcomes for our clients. Call us now at 888-381-8654.

Categories: Blog, Business Connections, Commerical Real Estate, Foreclosure, Investing in Real Estate, Real Estate Investing, Real Estate Sales, Reviews, Short Sale Pro

Tags: Business Connections, Buying Forclosures, housing market, Investing, Real Estate Transaction Negotiator, Residential Real Estate

26 MAR 0

Short Sale Over a Foreclosure Might Save Your Financial Future

Losing your home due to the inability to meet the monthly payment obligations is perhaps the worst financial situation you could ever find yourself facing. In fact, a foreclosure puts a huge blemish on your credit report, where improving it could take years. Moreover, a mortgage lender may file a legal case against you as part of the foreclosure action. All this would then hinder your ability to obtain any kind of credit, leaving you completely helpless.

Consider a Short Sale as a Better Credit Position

The pitfalls of a foreclosure are frightening and sometimes irreparable. Hence, any option that promises a way out of the situation is a better alternative. This process is one option for homeowners who are mired in financial woes. Simply put, a short sale involves selling your home at a price that is lower than the amount you owe the mortgage lender.

The best part about short sales is that they create a win-win-win situation for all parties involved in the transactions:

The seller is able to evade foreclosure and payoff their mortgage liability.
The lender is able to recover his dues without going through a lengthy legal procedure, and fees, of foreclosure and marketing the repossessed property.
The buyer is able to purchase the home at a reduced price.

Considering a Short Sale? Keep the Following Factors in Mind

The first safeguard measure you must take when settling your mortgage through this process is to get a written acknowledgment from the lender, stating that all your debts are absolved. Other considerations to bear in mind to avoid any potential negative consequences of the process are:

Protect your credit rating: Do not forget that a short sale is mentioned on your credit report. Therefore, get the lender to report it favorably. For instance, if your report merely states that the debt is satisfied, your score will not be impacted. On the other hand, if your lender reports ‘settled for less than the full balance,’ your score will drop automatically.
Get tax advice: A tax liability on a short sale arises when the lender claims that the debt forgiven should be treated as an income. A tax professional can help you find alternatives to limit this liability.

While a short sale is certainly a superior alternative to foreclosure on several grounds, a homeowner often struggles to convince the lender to agree to them right away. This is because the lender has to agree to forgo a part of the mortgage claim that they want to recover. Therefore, when faced with a financial crunch, a short sale must be pursued as soon as possible. The longer you wait, the greater the amount of arrears, and the less likely that the lender will be to agree to the process. With that said, I have seen people live in their homes for many months without paying their mortgage and still complete a success transaction. Of course this is a bit risky and I would never recommend this strategy to anyone.

If you, or someone you know is facing a foreclosure scenario you will want to have a seasoned professional assist you in examining your options. Having an expert work with you could protect you, your home, and your financial future.

Article Source: Jenifer Wehner @ Ezine Articles

Categories: Blog, Foreclosure, Real Estate Sales, Reviews, Short Sale Pro, Short Sales

Tags: Business Connections, Commercial Real Estate, Foreclosure, Real Estate Investing, Real Estate Sales, short sale, short sales

10 FEB 0

Foreclosure Relief

Many people are faced with foreclosure on their homes in the U.S. A lot of the major cities have been hard hit, because the of decline of the housing market. All homes have lost value, while others face foreclosure. Those facing foreclosure are looking for foreclosure relief from anywhere they can find it. The federal and state governments are attempting to give relief to families through different programs.

The programs are intended to save Americans from losing their home. Many programs were started in 2010, to provide relief to people. The federal government started a $75 billion dollar bailout program. The local government began offering job training and other employment programs, to help get people back to work. Some states initiated an investigating on banks, to check the banking foreclosure practices being used, in an effort to protect the homeowners

Today there are different programs that provide foreclosure relief to homeowners who are faced with foreclosure. All of the programs involve a multiple step application process. So it is important that you get the assistance of an experienced lawyer to help you.

The following is a list of some of the programs available to help provide foreclosure relief:

• The Availability and Stability Program

• Fannie Mae Program assisted by government bailout funds

• Veterans Fund VA Loans

• HUD Housing Programs

• 2nd Mortgage

• Reverse Mortgage Program for seniors

• The Loan Modification Program

You may have to apply for multiple programs, before you get approved for the foreclosure relief you need. A foreclosure lawyer will advise you of the programs you do qualify for, so you aren’t wasting time. Getting the paperwork done correctly and turned in on time is essential to these programs. If the paperwork is incorrect or late, this can prolong the foreclosure relief you need. Knowing what documents you need and how to obtain them, can be overwhelming. Having a foreclosure lawyer provide you advise and walk you through the process, will ensure you get the best foreclosure relief available to you.

Article Source: L Weber at Ezine Articles

Categories: Blog, Business Connections, Commerical Real Estate, Foreclosure, Investing in Real Estate, Real Estate Investing, Real Estate Negotiating, Real Estate Sales, Reviews, Short Sale Pro

Tags: foreclosed homes, Foreclosure, housing market, Market Analysis, Real Estate Coaching, Real Estate Networking, Real Estate Transaction Negotiator, Residential Real Estate, short sale

7 FEB 0

Seeking Foreclosure Solutions

It is unfortunate how many people are in desperate need of foreclosure solutions today. Thousands of people each day face the reality that if they don’t find a way to help stop the foreclosure process, they will lose their homes. The real estate industry has gone down the last few years, due to various factors like:

Overly aggressive lending and borrowing.
The widely fluctuating home values.
The increase in lending of subprime mortgages.

Unfortunately, because the real estate industry is in its own crisis, it is hard for the financial institutions to help mortgage holders that are currently facing or in foreclosure. The stress of the economy has taken its toll on both financial institutions and consumers. As a home owner, one should seek a foreclosure attorney, to educate yourself on the laws and procedures in an effort to save your home.

In the last five years the market has put many individuals out of work; hence people are having difficulty making their mortgage payments. There are options available to help you save your home; a foreclosure lawyer can provide you the guidance you will need. A foreclosure attorney specialist can help stop foreclosure with some different options. A foreclosure attorney can evaluate your individual situation; discuss your different options with you, to help you make an informed decision, based on their legal advice. There are always different options available to avoid foreclosure, such as a loan modification, or your foreclosure attorney negotiating with your mortgage holder.

One foreclosure solution that a foreclosure lawyer can assist you with is the, short sale of your home. Short sales are not always an option, however your attorney can negotiate with the lending institution and determine if you are eligible. This is when the property is sold for less than the balance owed to the lending institution. This option is cheaper than foreclosure for the lending institution and does not reflect as negatively as a foreclosure on your credit report.

Facing foreclosure can be overwhelming, especially when you are not fully aware of what options are available to you. Seeking the advice of a foreclosure attorney for your foreclosure solutions will guarantee that you are armed with the proper knowledge to make the decision that is financially right for you.

Article Source: L Weber at Ezine Articles

Categories: Blog, Business Connections, Foreclosure, Investing in Real Estate, Real Estate Negotiating, Real Estate Sales, Residential Real Estate, Reviews, Short Sale Pro

Tags: Buying Forclosures, Real Estate Coaching, Real Estate Investor, Real Estate Transaction Negotiator, residential foreclosure, Residential Real Estate, short sale

4 FEB 0

Get To Know How To Prevent Foreclosure

If you or anyone you know has some houses for sale in Las Vegas, it is recommended that you seek the help, services and advice of a realtor you can have confidence in.

However, before you go and look for that certain realtor, it would be wise of you to do the following:

1. Ensure that the realtor whose services you want to avail of is a member of NAR, or the National Association of Realtors. Although there are realtors who aren’t members who would still help you sell your foreclosed home in Las Vegas, having a real estate agent who is a member of NAR will guarantee you that the standards they have are followed to the letter.

2. It is essential to consult more than just one realtor. This can help you to know if you’re comfortable in dealing with him or her and vice versa when it comes to selling the foreclosed home you have.

3. Consult the realtor how long he or she has been dealing with real estate and its issues. This ensures you that the foreclosed property that’s still in your possession is being sold by a person who has the necessary expertise to get the work done.

4. The realtor you’re going to hire must have a definite plan while it comes to selling foreclosed property. Along with that, you should even have a definite plan in selling your foreclosed home. Both of you can work out plans like advertising in print, on the Net or on both while selling your foreclosed property.

5. Make a note of whatever foreclosed property your real estate agent has sold in the past weeks or months. While you’re at it, you could also ask him or her how fast and how many foreclosed properties he or she has sold during the said time.

6. Ask the realtor how often he or she could contact you when there are any developments during your sale of your foreclosed home. Doing this can ensure that you’re prepared for the things that are required for selling, such as the papers of the home.

7. You should take into consideration the contract length between you and the realtor. You would request for a short term contract when you need or want your houses for sale in Las Vegas short sale. In case you have any more houses or property that need to be sold in and around the Las Vegas area, you can always get your contract with your real estate agent renewed.

You would be sure to prevent foreclosure by following the mentioned steps. Consult your local realtor, to get to know more on how to prevent foreclosure.

Selling a foreclosed home is a good way of getting rid of debt. Contact me show you how.

Categories: Blog, Business Connections, Foreclosure, Investing in Real Estate, Real Estate Investing, Real Estate Negotiating, Reviews

Tags: Business Connections, Buying Forclosures, Forclosures, housing market, Real Estate Coaching, Real Estate Investing, Real Estate Investor, residential foreclosure, Short Sale Pro, short sales

1 FEB 0

Considerations in Homeownership Cost

One of the main questions is “What can I afford?” This is different than the question of “What size of loan do I qualify for?” Let’s say that after reviewing your finances you find that you can afford to spend $1200 a month on housing. It is not just the loan payment that is important to consider, but also the property tax, insurance, maintenance, and home improvements.

Maintenance: Some of the items that you need to be aware of will include the HVAC system and all of the associated parts including the inside and outside components. This would also include the cooling in the summer and then the switchover of the system to heating in the winter. Other items would include the plumbing and all of the pipes, those that you can see and those that are hidden within the walls. Many buyers also discount the amount for painting the property, especially any exterior surfaces in year 2 and beyond of ownership.

Improvements: Such as additions of improvements based upon your specific wants and needs. Items in the house do wear out of just go out of style and it will be your responsibility as a home owner to replace items like the appliances or even the roof.

What home maintenance duties do homeowners most often ignore?

Homeowners don’t clean drain traps. They don’t clean out the lint from the dryer vent. That is the No. 1 cause of house fires. They do seem to always change their air filters – but they don’t vacuum out the duct system when they do. They also don’t clean refrigerator coils. That’s where everything in the house collects.

Homeowners should continually check for water intrusion around windows and doors. Look for hairline cracks. If the exterior is stucco, look for hairline cracks and repair them because they could get worse and that could result in major repairs. Stop water from coming into the house. Caulk around doors, windows and in wet areas like showers and tubs. People tend to neglect that and it causes major problems when water gets behind walls.

What do you look for in new homes as opposed to old homes?

We look for the same things. People think that if they have a new home, they don’t need maintenance, but a new home is settling. It will have more cracking in stucco and exterior finishing. An older home has pretty much settled.

A rule of thumb for the annual cost of maintenance and improvements is 1% of the purchase price.

This is a brief look at home maintenance issues and what homeowners should consider when making a home purchase. If you fail to plan for these expenses, you may just find that you can’t afford the home after all.

Article Source: R Earl at Ezine Articles

Categories: Blog, Business Connections, Commerical Real Estate, Foreclosure, Investing in Real Estate, Real Estate Investing, Real Estate Negotiating, Real Estate Sales, Residential Real Estate, Reviews, Short Sale Pro

Tags: Business Connections, Buying Forclosures, Commercial Real Estate, Foreclosure, housing market, Market Analysis, Real Estate Investing, Real Estate Transaction Negotiator, Residential Real Estate, short sales

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