The Ultimate Beginner’s Guide to Real Estate Financing Does this sound familiar to you?You’ve found the perfect house. It meets all your criteria, in a terrific location, and makes your heart skip a beat just thinking of it. So you whip out your checkbook and write the check for the full purchase price, remembering of course to record the purchase in your check register.Of course not.Financing real estate is not usually as simple as that. Finding the funds to buy a piece of real estate is … [Read more...]
Avoid Mortgage Fraud: Don’t Let Your Buyers Request Land You in Trouble
September 19, 2012 By Leave a Comment
Avoid Mortgage Fraud: Don’t Let Your Buyers Request Land You in Trouble It still amazes me how many people think it’s okay to skirt the “rules” when it comes to selling real estate. I am in the process of selling a property I bought and rehabbed over the last few months. Most of my properties are sold directly to investors as turn-key rentals, but this particular one was at a higher price point and made more sense as a retail sale. As such, I am having the pleasure of working with … [Read more...]
Real Estate News by the Numbers: Week of January 28 – February 3
February 5, 2012 By Leave a Comment
Real Estate News by the Numbers: Week of January 28 – February 3A quick rundown of the important real estate news from the week of January 28 – February 3, by the numbers:8.3% – U.S. unemployment in January, the fifth straight month that unemployment has dropped. All together, 243,000 jobs were added in January, 100,000 more than economists had expected.1.3% – Drop in home prices month-over-month in November according to the new S&P/Case-Shiller 20-city index. Prices fell in 19 of … [Read more...]
Bulk Sales of GSE Foreclosures Begin
February 2, 2012 By Leave a Comment
Bulk Sales of GSE Foreclosures BeginThe Federal Housing Finance Agency (FHFA) today invited investors interested in purchasing pools of Fannie Mae, Freddie Mac and FHA foreclosures in the nations hardest-hit metropolitan areas with the requirement they rent them for a period of year to pre-qualify.The new bulk sales program, under discussion since August, will begin with a pilot program where Fannie Mae will offer for sale pools of various types of assets including rental properties, vacant … [Read more...]
What to Do with 3 Million REOs?
January 28, 2012 By Leave a Comment
A hot topic in Washington, D.C. this month is what to do with 3 million REOs currently in holding by the Federal Housing and Finance Agency. The popular answer is to make the government agency the largest landlord in America.Does this help or hurt the investor market and, more importantly, the recovery of the real estate market in general? Or does it just prolong the inevitable?Federal Reserve Chairman Ben Bernanke supports the national REO rental program saying in a white paper to Congress on … [Read more...]
What to Do with 3 Million REOs?
January 28, 2012 By Leave a Comment
A hot topic in Washington, D.C. this month is what to do with 3 million REOs currently in holding by the Federal Housing and Finance Agency. The popular answer is to make the government agency the largest landlord in America.Does this help or hurt the investor market and, more importantly, the recovery of the real estate market in general? Or does it just prolong the inevitable?Federal Reserve Chairman Ben Bernanke supports the national REO rental program saying in a white paper to Congress on … [Read more...]
Loan Programs That Will Help Sell Your Real Estate Investment Property
December 21, 2011 By Leave a Comment
Loan Programs That Will Help Sell Your Real Estate Investment Property You bought that investment property, rehabbed it from top to bottom and now you’re wondering where the buyers are. Unfortunately this economy is nothing like Field of Dreams – “If you build it, they will come” does not necessarily work anymore. There are so many discounted properties on the market right now, the fix and flip model is trickier than ever. Investors need as many tools as possible to make this … [Read more...]
Week of November 12 – November 18 Real Estate News
November 19, 2011 By Leave a Comment
Week of November 12 – November 18 Real Estate NewsA quick rundown of the important real estate news from the week of November 12 – November 18, by the numbers:$729,750 – Maximum mortgage amount that can now be backed by the Federal Housing Administration. Congress voted to increase the limit from $625,500.95% – Amount of metro areas, out of 384 that will see a rise in home prices in 2012 according to Fiserv. However, the increase is expected to be minimal. ”The median expectation … [Read more...]
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How Does The Recent QE3 FED Announcement Affect Mortgage Rates?
How Does The Recent QE3 FED Announcement Affect Mortgage Rates? The Federal Reserve made an announcement on September 13, 2012 about their plans to support a stronger economic recovery. This was a much anticipated announcement, because of what the actions will do to mortgage rates and the overall economy in the future.The two major actions the FED plans on doing as part of this QE3 are:Purchase additional mortgage-backed securities at a pace of $40 billion per month.Extend the target range … [Read more...]