A lot of people these days are preaching about the buying and holding method of gaining wealth with real estate. There indeed may come a time in your life or business when you will want to hang onto a piece of property, although you will only be interested in keeping certain types of property. If [...]
Entries from March 2009
How to Flip A House For Cash
Mar. 19th, 2009
The Changing Face of The Real Estate Open House
Mar. 19th, 2009
Whether you are a real estate agent who holds open houses and relishes the opportunity, or a real estate agent who avoids them like the plague, you must admit that the traditional idea of what an open house is changing. There’s more to an open house than setting up a few directional signs, opening the [...]
Predatory Lending in the Housing Bubble – Were You a Victim?
Mar. 18th, 2009
The most egregious examples of predatory lending occurred when interest-only loan products where offered to subprime borrowers whose income only qualified them to make the initial minimum payment (assuming the borrower actually had this income). This loan program was commonly known as the two-twenty-eight (2/28). It has a low fixed payment for the first two [...]
Real Estate Tips: Choosing the Right House For Your Needs
Mar. 18th, 2009
House hunting is more than just finding a house you like. There are a lot of factors to consider when shopping for real estate to make sure you choose the right house for you and your family. Buying a house is a huge investment and you don’t want to regret your choice. Here are some [...]
Conservative House Financing Is Making a Comeback!
Mar. 17th, 2009
Exotic loan financing terms took over mortgage finance in the housing bubble. As people using these loan programs began to default in large numbers, exotic loan programs all but disappeared. This left the 30-year, fixed-rate, conventionally amortized loan as the only game in town. When people decide they want to buy a house, they figure [...]
7 Biggest Mistakes Realtors Make While Doing Short Sales – Mistake #6
Mar. 17th, 2009
One of the top mistakes Realtors make when handling a short sale is just letting the appraisal or BPO happen. The lender will have an appraisal or BPO done to help them determine the value of the property when they are considering a short sale. In some cases the lender may have two BPO’s done. [...]
Prime, Alt-A and Subprime – The Three Categories of Borrowers
Mar. 17th, 2009
Borrowers are broadly categorized by the characteristics of their payment history as reflected in their FICO score. FICO risk scores are developed and maintained by the Fair Isaac Corporation utilizing a proprietary predictive model based on an analysis of consumer profiles and credit histories. These models are updated frequently to reflect changes in consumer credit [...]
Developing A Solid Real Estate Investment Plan
Mar. 17th, 2009
To succeed in the real estate investing business it is necessary to develop an investment plan to help you determine the viability of your investments. Your success depends on creating a blueprint that will boost your confidence and swell your lead base. It is correctly said that the essence of winning is planning and when [...]
Real Estate: Is it a Good Time to Buy?
Mar. 17th, 2009
Everyone has heard about the housing market crash-it’s on the news, in your town and in your neighborhood. But, some good can come from it if you know what you’re doing. Right now may just be the best time for you to buy the house of your dreams. Here’s why it is the perfect time [...]
Mortgage Interest Rates – How Are They Determined?
Mar. 16th, 2009
Mortgage interest rates are the single-most important factor determining the borrowing power of a potential house buyer. When rates are very low, a borrower can service a large amount of debt with a relatively small payment, and when interest rates are very high, a borrower can service a small amount of debt with a relatively [...]