The Real Estate Arena Blog::
Are You Prepared To Profit? Big Changes Are On The Horizon. I thought it would be a good time to have a look at current real estate market trends and
http://www.therealestatearena.com/cesportal/Generic.aspx?PAGE=The%20Real%20Estate%20Arena%20Blog&portalName=hp&blogId=41921&articleId=44361HOME |
Across North America and the world, the market correction has caused the biggest increase in Foreclosures in Real Estate History, but is there any way for us, as Investors, to profit?
The rate of Homeowners who are more than 90 days behind on their payments has increased 164% from last year, and experts say the worst is yet to come.
Texas Realty Blog: San Antonio and Valley Real Estate::
If Texas Real Estate is HOT, Why the High Foreclosures? . Housing Predictor forecast the current boom in Texas in early 2006."
http://texasrealestate.blogs.com/weblog/greater_san_antonio/index.htmlHOME |
Montecito Journal | Wealth Strategies::
A slowdown in consumer spending caused by current housing concerns is a Values have declined in the broad real estate market from the highs of several
http://www.montecitojournal.net/archive/13/36/1346/HOME |
But can we as Investors save these homes and their owners from Foreclosure and still be profitable? The short answer is- yes, we can.
While most Investors are still reeling from the blow the market has dealt them, smart Insiders are cleaning up.
Insiders know that, especially in this current market, banks DO NOT WANT Real Estate. They want money. And that simple fact means banks will bend over backward to work with anyone smart enough to know their simple formulas.
Foreclosure Forecast To Top 2 Million Homes::
Foreclosures will top 2 million homes in the wake of the nation's worst real estate crisis since the U.S. Savings and Loan scandal, according to the Housing
http://www.huntsvillepr.com/huntsville-realestate/foreclosure.phpHOME |
There are three Options to consider when buying Foreclosures, and these factors will determine the exit strategy. (And if you understand the House Business, you know that the Exit Strategy determines the Buying Strategy, right!!??)
Technique 1: Repayment Schedule or Loan Modification
In this simple strategy, if you come across a property that has some equity, but may also have a TON of back payments and attorneys fees, all you need to ask yourself is, Will it cashflow?
In the Current Foreclosure Crisis, Echoes of the Past - New York Times::
IT is now widely believed that the aggressive mortgage lending during the recent real estate boom was unprecedented. In the final counting, that assessment
http://www.nytimes.com/2007/08/12/weekinreview/12bajaj.html?ref=weekinreviewHOME |
Sacramento Land(ing) - Sacramento Real Estate Market Blog ::
David Lereah, the author of 'Are You Missing the Real Estate Boom? At the current pace, foreclosures will be a significant part of the real estate
http://sacramentolanding.blogspot.com/2007_04_01_archive.htmlHOME |
If it will, simply contact the bank and ask for a Loan Modification Agreement- which simply means that the bank will add the missed payments to the back of the loan, and structure a new debt, often without even increasing the payments.
They add the additional monies owed as additional payments to be made, lengthening the time of the opriginal mortgage by several months.
Technique 2: Short Sales
A Short Sale is simply contacting the bank and offering less than what they are owed as full payoff of the underlying financing. This technique works on properties in foreclosure.
To decide if a property is a candidate for a Short Sale, you need only ask yourself, Do they owe more than it will sell for quickly? If so, a Short Sale is your only choice, because theres no point in making up the payments if they owe too much to make a profit anyway!
Technique 3: Just Sell The Darned Thing!
Since most Homeowners and Investors are struggling o sell, its an easy process to pick up houses at good discounts. But can you make a profit?
See, an Outsider, who doesnt know what we do, has too many costs, fees, risks, and BS to make any money off of a so-called Marginal or skinny deal. But we have much more to offer the Seller than they do!
Heres a Perfect Example:
Beautiful Laura, my wife, spoke with a Motivated seller about a home just 2 miles from where we live, in a High-End gated neighborhood.
The Property was in excellent condition, and worth $575,000. The seller owed $490,000 on this 5 Bedroom 4 Bathroom house, was three months behind, and wanted $20,000 out of the sale to pay their back payments and closing costs.
So what can we do? How could we possibly make a Profit? Well, its straightforward- Just Sell The Darned Thing!
Laura simply Optioned the property for the $510,000 price, and Marketed it through a 7-Day Sale. At a sales price to the End Buyer of $560,000, its a fast $50,000 Profit.
See, most people get so caught up in fees, costs, carrying costs, etc., that they cant move fast enough to capitalize on a deal. This wasnt even a great deal, but $50,000 is a nice paycheck!
In this Property, we paid the Seller 89% of Full Market Value and still made $50,000! And by the way, the Seller pays the customary Seller closing costs, and the Buyer pays the customary Buyers closing costs, so we pay NONE!
Most people are so concerned about stupid little stuff that they skip right over this 3rd technique, and walk away from a HUGE source of CASH PROFITS!!
The current BOOM in Foreclosures is without a doubt THE biggest opportunity to make a fortune in the history of Real Estate, and smart Insiders are raking in profits by the truckload in Markets where Outsiders are complaining because they cant make any money!
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Is the Current BOOM in Foreclosures The Biggest Opportunity For Profit in Real Estate History?