It is important to realize that not all homes will qualify for a short sell. If you are looking into buying a short sale you need to be aware that there could be some drawbacks. Before making a purchase you should get advice from a real estate lawyer, discuss and understand short sale tax ramifications.
What Is A Short Sell In Real Estate?
Posted on July 6, 2009 - Filed Under Business | Leave a Comment
A short sell in real estate is an option for homeowners if they are having difficulty in making their mortgage payments or facing bankruptcy or foreclosure. A short sale occurs when the mortgage lender will accept a total amount of money that is less then the actual amount owed. Not every financial institute will do this but at least they will receive some of the mortgage money.
Shortsale: How to Sell Your Home for Less than You Owe
Posted on June 28, 2009 - Filed Under Real Estate | Leave a Comment
Shortsale refers to any type of real estate being sold for less than the borrower owes on their mortgage note. Lenders authorize selling the property short of what is owed based on several factors. One of the most prevalent factors is if short selling will be less costly than allowing the property to fall into foreclosure.
The majority of shortsale homes are sold for 7- to 10-percent below market value. Many borrowers hold a second mortgage and may owe upwards of $100,000 more than the appraised property value. In this case, it can be less costly for banks to foreclose on the property and hold it until housing prices go up.
It’s Easier to buy a $5,000,000 Apartment Building that a single family investment property
Posted on June 26, 2009 - Filed Under business opportunities | Leave a Comment
Top 10 Reasons Why It's Easier To Buy A $5,000,000 Apartment Building Than A Single Family Investment Property.
The day my life changed forever. It started with a phone from my good friend and banker of 15 plus years Joe, I cant believe that Im going to say this, but your mortgage application has been denied. (I had done hundreds of residential deals, had an 800 credit score and 25% down). The day ended with a chance encounter with an old friend that I had not seen in 10 years that said to me Its easier to buy a $5,000,000 apartment complex than a single family investment home I didnt quite understand it at the time, but much to my surprise, it was true.
Secrets of Self-Storage Units
Posted on June 25, 2009 - Filed Under Business | Leave a Comment
In an earlier article, I mentioned the value of self-storage units as valuable real estate gems, even if they aren't in the commercial real estate mainstream. I'd like to explore some basic considerations for this type of investment, as it is something I get asked about with some frequency.
First, you need to consider the overall demand for the units you may have in mind. I've heard many an investor talk about some location near them that would be "perfect for storage units". Perfect perhaps for them, but not necessarily a good investment. It all comes down to the number of available units in your area and how "full" they are to make a truly good investment decision.
Before You Sell Prepare Your Real Estate Marketing Plan
Posted on June 24, 2009 - Filed Under Real Estate | Leave a Comment
When you are thinking about listing your property for sale having a proper marketing strategy is not always the first thing on people's list of things to do. The truth is that most real estate advertising starts and ends at listing on the Multiple Listing Service or MLS. This is often a fatal error that can cost you both time and money because your property will most likely be competing with many others on the market.
Community Property In Real Estate
Posted on December 15, 2008 - Filed Under Legal and Law | Leave a Comment
In the sphere of homeownership, a legal divorce can cause a great deal of confusion. The question which hangs heavily over the separation is how to split up all of the joint assets. Some ex-spouses make it very easy by simply handing over everything and making a clean split. However, this is usually not the case, and certain issues can become quite complex. Perhaps the most complicated of these is how to split the home in half. And this question of real estate ownership depends primary on the state in which you live.
Pay Off Your Home In 10 Years Without Refinancing Or Changing Your Budget
Posted on December 8, 2008 - Filed Under Finance | Leave a Comment
Imagine paying off your mortgage in about 10 years (sometimes a little less) without changing your lifestyle one bit, you can also save enough money that you’ll retire with $100,000 tax free each year (or more) for the rest of your life! - again, without changing your current lifestyle (although don’t get mad at me if your numbers work out even better).
I know, it sounds too good to be true, right? I thought the exact same thing when I found out about this strategy...and I'm in the finance industry! I spent an entire month of my free time reviewing the math because I couldn't quite bring myself to understand why I hadn't heard of this strategy yet; I thought this must be a scam. I was wrong. The math works, and it's the most amazing financial tool I've seen in a long time.
Carl Von Clausewitz – A Historical Yet Timely Perspective On Zoning Wars
Posted on December 4, 2008 - Filed Under Business | Leave a Comment
When Prussian solider and writer Carl Von Clausewitz wrote his classic book, “On War” in the1830’s, his words were directed at the philosophy, strategy and tactics of successful ground wars in Nineteenth Century Europe. But his ideas are equally relevant to real estate zoning battles in 21st Century America.
Twenty years ago, most commercial and residential real estate projects were easily approved at the municipal or county level. Development was seen as beneficial — a sign of progress and growth, a source of new jobs and tax revenue for the community, a wellspring of new opportunity for the business community, and an example of accomplishment that local politicians could cite as a reason for re-election.
All that has changed.
Factors To Consider In Moving At Tampa Real Estate With Kids
Posted on November 30, 2008 - Filed Under Business | Leave a Comment
Tampa is a good place to relocate and to purchase a new home since it has plenty things to offer. Definitely, Tampa is a beautiful place to live in.
If you plan to move to Tampa real estate, there are plenty of properties that you can choose from, from single family homes, mansions, condos and so on. It is up to you which property you prefer to purchase and it really depends on your budget.
In moving to Tampa real estate, you have to consider your kids. You have to know that kids are not flexible enough especially when it comes to moving to another location, they can’t easily adjust. Definitely, they will have lots of concerns when it comes to moving or relocating to another place such as they have to make new friends, they will miss their family and friends, these are few of their concerns that is why it is tough for them to move and relocate.
Print Real Estate Advertising 2.0
Posted on November 2, 2008 - Filed Under Business | Leave a Comment
If you’ve done much Internet browsing lately you have undoubtedly been bombarded by the term “Web 2.0”. This term refers to the revolution that is taking place all across the web towards increased capability, participation, interactivity, usability, and standardization.
While we could spend the next year discussing the value and impact this Web 2.0 convergence will have on your real estate business, it’s important that we learn to crawl before we run. One of the easiest ways to start realizing some of the benefits of Web 2.0 has very little to do with your web site: it starts with your print advertising.
God Helps Those Who Help Themselves
Posted on October 25, 2008 - Filed Under Business | Leave a Comment
As it would be desirable to live well…
Today everything that occurs around, sometimes reminds the flight by the supersonic airplane – quick, odd, dangerous and… terribly interesting. The economy develops, people become richer, but many still can not realize themselves: someone is not satisfied with work, someone is not satisfied with payment, and someone is in search for the life goal. And the great majority of citizens dream not simply about good earning, but receiving an income – true, stable and high – an income, which will provide a worthwhile existence today and allow guaranteeing a tomorrow of ease for yourself and your descendants.
Ri Real Estate Law – Purchase And Sales Agreements – Single Family
Posted on October 16, 2008 - Filed Under Legal and Law | Leave a Comment
In Rhode Island most buy and sell agreements (purchase and sales agreements) for single-family homes are on a form prepared by the Rhode Island Association of Realtors. The Purchase and Sales Agreement is a very important legal document that typically sets forth the sales price, time, date and place of the residential real estate closing, contingencies based on financing, as well as many other provisions.
You may attempt to negotiate modifications to this agreement and are not obligated to sign the standard form. Prior to signing the Purchase and Sales Agreement, the buyer should contact a Rhode Island lawyer / attorney who specializes in real estate law, residential real estate closings and title law.
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