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Your ROCK in Real Estate

The Real Estate Market

There are home buyers out there, and they are buying houses, and they are buying them with little or no movement in all around them.

Here’s how it works.

The entire real estate market in the United States is stagnant. All the money that we as a nation and consumers have been dished out on mortgage debt is slowly beginning to be absorbed into real estate.

That means that there are massive amounts of money sitting idle in the real estate market waiting for an opportunity to grow.

There are income tax reductions, new consumer-friendly legislation, and interest rates being offered at decreased amounts to stimulate the economy. While all this is going on the average home-buyer is feeling like they got stuck in the mud.

Due to the recent crash in the real estate market, mortgage loans are harder to get, and therefore the money is locked in.

The depression stacked homes on top of each other in homes in foreclosure, and in some counties, they are not being sold at all. All of these basic economic realities have created a virtual paradigm shift in how home-buyers are viewing the real estate market.

If you are a home-buyer, the opportunity for you is now, more than ever.

And that means opportunity. As a practical matter, that means that any act of even modest financial self-discipline now is an opportunity, because it shows movement in the right direction. If the foreclosure calls are answered with a foreclosure letter, and the homes are moved out of inventory and are sold right away, as an economic move the economic scale is just as large as the number of homes in inventory.

Financial movements tend to show trends – the one government-run program has shows signs of life.

The fact that home-buyers, and home-sellers, are now able to buy or sell homes without feeling like they are underwriters of a giant moving truck, is sure to lead to a slow down in the overall real estate market.

As a practical matter, this means that at the technical end of the business there is no pressure for home-buyers to act quickly, in order to market a house.

And home-sellers are ready for the next big move in real estate. Repairs can be done and, on the flip side, the house can be listed without the huge dumpster space that a foreclosed house requires.

All this means that the time for the part-timers is passed.

Sure, the market looks daunting. The lines are long. Homes look old. But if you are a part-time seller of real estate in the current climate, now is the time to go where the money is.

You can go with the flow. The money will come. The more you prepare the quicker you will find it.

Final thoughts. There is a new army of real estate investors in these uncertain times. If you are prepared, there should be no problem closing the deal if you have a good deal between you and an owner willing to work.

It’s time for the Test Drive.

If you want to be a part-time seller of real estate you will have to learn to work harder and learn to survive on evenings and weekends, days that are not transferable.

But yes, there is an opportunity for home-buyers to pick up where you left off.

The best time to buy is today before the new faces of the real estate industry take hold. The greatest real estate deal that will ever be made in your life will be made today!

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Third Time Buyers – A Different Kind of Prospecting

When you first started off in the real estate business as a real estate agent or broker, you have no doubt heard the saying “No matter what, you can’t find business unless you have some prospects to talk to”. It is a fact that you need good prospects to find the business over time and you need lots of them. To solve the problem of not having enough prospects it is a good idea to try and do what is called “prospecting” a prospect.

Not everyone has what it takes to do something that involves your time and efforts in real estate. There are some key characteristics you must have and do in order to do this.

You must be a self-starter and a self-fertile prospect.

Now, let’s move on to the self-starter question and think that without the ability to look at properties and research property values, you won’t be able to get anywhere with your real estate business. To get from your old job of working in a newspaper system to the level of serious real estate investor that you desire, you need a good ‘pack’ and you need self-motivation.

You need to have the drive, a passion that drives you to success. This is where you need a constant flow of fresh ideas that will help you move ahead.

You need to know the market conditions on a continuing basis and have systems in place to study and ‘read’ the market conditions. To do this you need a good gut feeling, that feels like you can make a decision when the time is right to move ahead. You also need to have the self-discipline to ‘keep at it, so you don’t get sidetracked and put off doing anything.

It is a fact that if you don’t have a good system and the self-discipline to get moving ahead in your real estate career, you will keep getting sidetracked. Once you have the right block of ‘time’ where you are able to get ahead, your ‘ Publications’ and income will grow as you seek to get there.

You need to be self-motivated to make things happen. To make the real estate business work for you take action every day. The action builds momentum, which in turn, rewards you with success.

Now, you need the self-motivation to many property deals and opportunities. You will have those days where you feel like you need a good file on that particular property just to keep on top of the prospect and to act on the opportunity. Failing to follow through with the action will give you a poor image and a lower ‘collar’. You need productive self-motivation to get the job done each and every day.

We need to take on the ‘sales job’ just like any other sales job and, therefore, need to train our stomach and mind that new territory is hard and slow so it doesn’t wear on us.

We need to train our body on what it takes to be a real estate investor and we need to then learn how to do the right mindset of being a property investor. You learn in this business that ‘you make your money when you buy. This means that the deals that you do must be so good that others want your deal and it needs to be so simple that you find it beautiful.

Finally, when we get to the final stages of signing the deal, it is well worth us taking a short walk around the property to make certain that everything is as you expected. You will then close the deal on a great property and have a wonderful new posh property to call your own.

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Purchasing a Home With No Downpayment

New homebuyers are told that they need a 20% downpayment in order to purchase a home on the Phoenix MLS. Some view this as proof that the Arizona Arizona home market, and the entire country, is going through a downturn and is in a museum for the next 25 years. While this may be true in the Great Grand Old West, no one should view 20% down as being forever outdated. While some mortgage products require a larger amount down in getting Your Dream Home Dallas, the conditions are very different from what is available in Maricopa and Pinal county.

What’s available in front of your broker may be a CMBS (collateralized debt obligations) or a state-sponsored FHA product, also called 100% financing. It’s true that 100% of loans are part of the CMBS purchases that go through FHA. Most of these loans require a 3% to 5% down payment. A percentage point of the loan amount and PMI insurance are paid for with the monthly mortgage payment. The difference is paid in a monthly charge.

What’s available with no money down on the Maricopa side and an FHA backing for the no money down AZ refi option is the ABC Mortgage product. This loan is fully assumable with either a 3% down or no down payment. The closing costs are minimal with only $900 due at the time of closing on a $300,000 purchase. This is the best product available to accomplish the goals of the 20% down requirements. It’s also available to those buying premium properties.

When looking at the CMBS products available, the first thing that comes to mind for many homebuyers is the FHA product, but there are slight differences. These CMBS loans have mortgage insurance added on and are subject to mortgage insurance and a PMI charge.

FHA loans have received a lot of negative press in the last year. aluminum and energy claims have been blamed on FHA loans, so do double checks on borrowers with FHA loans before closing.

If you need 20% down, the CMBS option is the best. It comes with no down payment requirement and requires mortgage insurance. Mortgage insurance is added to the monthly mortgage payment, reducing the borrower’s cash flow. It doesn’t reduce the loan amount, but it slashes the cash flow of the smart homebuyer. The amortization of this property is 30 years with a 30 year fixed rate. This means that it will take 30 years to reduce the principal loan amount by 20%.

Noone mentions that problem financing exists in today’s real estate market. Yes, there are some homes that should never have been purchased. Of course, this loan product still exists for the 20% down requirement and the amount financed is different than the full 20%. The seller’s acquisition and construction costs are transferred to the new homebuyer at the time of closing. In addition, the seller should be willing to fund one month of the buyer’s mortgage payments at the closing table.

The bottom line is to have your financing in place and your home in the hands of a qualified lender. This is not my best advice but thought it might be helpful to discuss it. If you are ready now to find your dream home, take the steps necessary to get your loan approved. A qualified REALTOR should also be able to help you with this process.

If you are considering a home purchase in the next 6 months, now is the time to take some steps to make that dream come true. You and your REALTOR should take the steps necessary to give you the best chance of success. Once that loan is approved, you are on the path to homeownership!!!

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Show Me Your Real Estate License Before We Do Business

In my state, and I assume in other parts of the country, people pretending to be licensed real estate agents when they are not is an increasing problem.

You are riding around looking to buy a house. You see a sign in front of a house for sale. You call the number. The person on the other end of the phone is either the owner or a licensed real estate agent or a scammer. Who else could it be? If they own the house, that is OK. If they are a licensed agent hired by the seller, that is ok. If they are someone else what are they up to? Ask them if they are the owner. If not, ask them if they are a licensed agent. If they say yes, ask to see their license. If they offer you a business card, ask to see their state-issued real estate license. There is no legitimate licensee that would object to showing you their license. In fact, most agents, including me, would be proud to show a license. The only person that would not want to show you a license would be someone that does not have one. If they do object or refuse, be suspicious.

If they do not own the house and they do not have a real estate license, where do they fit in the transaction? It would seem to me they must be up to some sort of scam. Why not ask them”, where do you fit in this transaction?” That seems like a reasonable question to me. They might tell you they are handling this for a friend or relative. If that is true, you may want to ask if you can talk directly to the owner. If I were handling this for a friend or relative, I certainly would not object if someone wanted to talk directly to the owner. Would you? Of course they could tell you” I have an option to buy this house for fifty thousand from the ignorant, naive person that owns it and I am hoping to sell it to you for one hundred and twenty thousand. All I have to do is defraud the mortgage company into believing it is only worth fifty thousand and convince you it is worth one hundred and twenty thousand. Maybe the real owner will get sued for a deficiency judgment for several thousand dollars. That is too bad. This is a great deal for me.”

Licensed real estate agents have what is known as fiduciary duties. They are required by law to be honest. There are very serious consequences for dishonesty. They could have their license revoked if they are dishonest. If you meet one that does not want to show you their license, maybe they used to have a license but they do not anymore. People with criminal backgrounds can not get a real estate license.

One of the reasons that the state issues real estate licenses are so people with criminal backgrounds can not practice selling real estate. Another reason you might want to ask to see someones’ license is so you will know you have their right name. Crooks use aliases. Be cautious. Honest legitimate people do not mind at all. When dealing with a real estate agent, ask “May I please see your license?”

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New Step by Step Roadmap for Real Estate

Real estates have various laws and terminologies. If you wish to put money into real estate and quit wasting your Money paying rent, it’s possible and you might also locate a small home which will cost roughly the exact same. Nonetheless, with a couple precautions, you also can double close in actual estate. Real estate is a particular instance of genuine property. Real estate employs weighted averages for an assortment of reasons, particularly to locate the appraised price of a house. If you would like a truly passive method to put money into Real Estate, you might want to research Real Estate Investment Trusts (REITs).

The Benefits of Real Estate

Being a realtor is tough. Realtors have systems in place to manage all that paperwork to make certain it is filled out correctly, at the proper time, and filed in a manner that ensures closing happens when it should. They also tend to work with a team of people to close on a home, so there are a number of individuals, professionals, who are doing their part to accomplish a big task. Experienced real estate agents already have established networks and company relationships that permit them to minimize the price of selling.

Realtors have the capacity to produce an influence on the lives of their clientele. With real estate agents, it ought to be the exact thing. Realtors represent buyers or sellers in the selling of property. They currently improve their marketing techniques with minimal efforts by the use of artificial intelligence. Realtors and brokers might also raise their earning potential by raising their sales volume. They are constantly in contact with a lot of different people, including as clients and other real estate agents. They have a great deal of flexibility in how they schedule their lives.

The Do’s and Don’ts of Real Estate

It is possible to buy the home at a bargain price, but you could end up spending an excellent deal of money fixing its problems. No matter where you intend to buy, rent in addition to sell a house if you’re involving a real estate attorney you’re always with an excellent idea for the betterment of future. Purchasing a house is a considerable investment. The Realtor listing it can also use the pre-home inspection as a selling tool to gain more buyer interest. Perhaps, your new residence might be only a mouse click away! High priced homes and higher interest rates are an ideal combination for a different bubble burst in the actual estate industry.

The last step in running a thriving real estate investing company is to come across buyers and renters for the properties who are ready to pay your asking prices. Typically, real estate businesses see a 4300% ROI in regards to email marketing. There are lots of real estate businesses, that are specialised in the selling and rental of both commercial and residential properties, which likewise includes new developments and the buying and selling of land. For such demand of homes in Calgary the actual estate company is a really flourishing enterprise. The true estate advertising market has taken an exciting new turn in the past couple of years.

If you’re looking for a way to enter the actual estate market, then consider bank owned foreclosures. The housing market is just one of the rapidly growing industries on the planet. It is one of the most lucrative markets in terms of investment, because the kind of returns that the real estate market is known to give, other investment tools can rarely match. At the moment, the NYC housing market is experiencing a purchaser’s market.

Buyers want to access a wide selection of prospective properties without physically being at the website. In summary, if you’re seriously interested in turning into an appropriate estate buyer, you are going to want to have an appropriate estate program or buy a set of your very own real estate asset guides. When it has to do with becoming a fantastic real estate buyer, analysis cannot be highlighted on enough. By making the effort to really learn about real estate asset, you are more inclined to turn into a superb real estate buyer. If you’re interested in becoming an excellent, profitable real estate buyer, you are going to want to create sure you know precisely what you are doing, when selecting real estate qualities.

Decide which kind of genuine estate investor that you want to be. Many experienced real estate investors also opt to add new characteristics to their newly purchased properties to earn more money on a sale. There are a few actual estate traders that are successful, while some aren’t. As you don’t necessarily need to employ a real estate broker to purchase and sell houses, they supply valuable services that will help save you time, aggravation and possibly money. When there’s a buyer keen to look at your house in the rain they’re serious.

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