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Tag: "foreclosure"

Shocking Short Sale Reports – Investors Turn

Student Housing Doug FathInvestors are turning away from short sales in droves as new reports of scary legal tactics come to light.

Many investors who have dealt in short sales over the past three to four years have unknowingly exposed themselves to prosecution as former home owners wake up to their old lenders garnishing their wages.

Of course they blame the investor who did not disclose that risk to them.

In the meantime, others are finding their investments save and cash flowing well.

Doug Fath, for example, a 28-year old real estate multi-millionaire, has made his imprint in a completely different niche, that is considered by most as one of the “scariest markets” in real estate.

After revealing what that niche is and how he has profitted from his investments, literally hundreds of comments poured in to his web site, asking for the  “secret code” to be revealed.

Doug’s “secret niche” has the potential for immediate revenue streams, as well as long term wealth building features, as market analysis reveals strong demand and stable values in this market for years to come.

In fact, it is Doug’s long term market analysis which is based on demographics and specific needs of large groups of the population that has led Doug Fath to this profitable real estate niche in the first place.

Find out more and watch Doug’s free videos, and see the hundreds of comments that were left on his web site.

Click here to get the video


March 16, 2010 | 2 comments | View Post

HUD Waives 90-Day Seasoning

It has been kind of expected among real estate and mortgage professionals. Today came the official announcement from the HUD office.

As of 2/1/10, FHA buyers can buy properties that have been owned by the seller for less than 90 days.

Of course, there are some strings and conditions attached. Watch this video for details…


Resources:

Release text

PDF of detailed conditions

What do you think about the impact of this temporary waiver? Engage and leave your comment below!


January 15, 2010 | 3 comments | View Post

California Bulk REO List – FREE

Grab this small list of REO’s. I got it when I was looking for good deals.

These are, but they don’t fit our criteria.

Download the list here (contact and access information is inside the list)

Leave your comments below…


November 17, 2009 | 3 comments | View Post

Mansions Ripe for Short Sales?

The noise is getting louder every week. While entry level homes seem to have leveled off after a steep price drop, it looks like higher and homes are the next wave in foreclosures.

The Orange County Register reports that foreclosures in the high-value County has passed a record 8,800 for the month of September 2009. And the media blogs are of course all over the “bad news“!

homefeatureThe question is if these foreclosures are good short sale candidates for investors, or if we should let the banks deal with their losses and go the route of bank owned listings?

There are two criteria that make for great short sale deals.

One: The lenders’ motivation. On larger properties, lenders have to deal with larger loan amounts. A short sale on a larger loan removes a larger non-performing asset from their books. Lenders know that and act like it.

I was recently tracking a foreclosure on a $1.4MM loan. Unfortunately I got on the case too late and wasn’t able to prevent the trustee sale. However, the trustee told me that they had permission to take a bid of $765,000 at the sale. (Of course, the opening bid was advertised as $1,375,000, so nobody showed up…)

Two: Buyers willing and able to buy. Well, that’s a different story altogether. There are buyers with a lot of cash on the side, looking to put it into great deals. In the current lending environment there is no 100% financing for jumbo loan amounts. But that’s OK.

There is money for cash down payments and some buyers who can qualify. Most likely these sales will happen through buyer’s agents anyway, so it’s just a matter of how you structure your deals and setup your team.

On question that you have to keep a close eye on is what will happen with buyer confidence once a significant drop in prices is evident in areas that are now still hyped up as “recession proof”. You definitely don’t want to get in a position where you spin a lot of wheels on your short sales and can’t find a buyer in the end because your accepted offer is not good enough after the time it takes to get accepted.

Summary: Short sales for high-end properties and mansions are comming and are a very viable and lucrative foreclosure niche business. Leave a comment here if you want to hear more about our “Syndicated Short Sales” program! (And if you have any other questions or comments as well…)


November 11, 2009 | 10 comments | View Post

Top 5 Must-Dos in Real Estate Market Research

Have you been wondering why it seems hard to sell properties in a slow or down market?

Maybe you have not updated your market research to include this Top 5 List of Market Research Must-Dos.

This Top 5 List applies to any market, and any type of real estate investing.

Download your copy of the “Shock And Awe Real Estate Report“:spread3

** How to GET UNSTUCK and rapidly accelerate the
growth of your business…

** How to get clear and focus only on the most
results-oriented activities…

** How you can connect to a network of proven
50/50 investment partners who do deals with you
again… and again… and again…

** And FINALLY… how to avoid the 8 common
mistakes that cause 92% of investors to fail…

Top 5 Must-Dos in Real Estate Market Research

Top 1: Find out which market segment is selling more and faster than others.

This can apply to a certain neighborhood, a specific price range, a specific size and type of home, and a specific condition of the home. You can find out this information from your agent and/or title company.

Top 2: Find out what type of buyers are active in that market segment.

In many markets FHA buyers are covering a certain price range and type of properties. If that is the case, pay close attention to the condition of these properties, and the price ratio between FHA buyers and other properties on the market, particularly bank owned listings! If you want to focus on flipping deals to rehabbers, find out which properties were cash transactions or closed with non-traditional financing.

Top 3: Take a closer look at the sold comps of only the last 3 months.

If you see a declining tendency in this time frame, make room for further price drops in your offers. Older comparables are more likely to be out of date and should not be considered.

Top 4: Compare inventory levels and emphasize active listings in your overall analysis.

If inventory levels are rising, you can expect longer marketing times and possibly lower selling prices. You can predict inventory levels by considering your foreclosure filings. If you have a large increase of trustee sales in the specific area, inventories will likely go up by a similar ratio, after a certain lead time (about 2 months).

Top 5: Make sure you are aware of any outside influences that may be important.

At times, your area may be affected by certain government or other programs that have been announced, or are going to expire. These programs, like the “First Time Home Buyers Credit” taht is currently in effect can strongly influence buying behaviour – sometimes only in specific market segments.

Having a list like this is very important and can also be used to estimate “BPO’s” for short sales etc. Always do your homework, and you will be able to leverage this competitive market insight to your or your clients’ advantage.

Please let me know if you have anything to add to this list, or if you have any question or opinion about this list! – Just leave me a comment!


September 25, 2009 | 1 comment | View Post
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