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January 2012

Found 7 blog entries for January 2012.

Main Article

When considering if the time is right to buy a new home, there are a lot of different factors to consider.  Home prices are different for each area of the country, but overall it seems to be an excellent time to buy.  The article focuses on seven factors to examine when making this decision.  The first is price.  You want to work with an experienced Realtor or Broker who can fill you in on what your local market is doing.  Nationally the average home price fell 19.2% over the last six years, so if you do your homework and get proper representation there are defiantly deals to be found.  You also want to take an equally close look at mortgage rates, which have now fallen to an historic low, at less than 4%.  You want to carefully consider

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Main Article

Foreclosure Information

 The current real estate market has brought a lot of attention to investing in REOs (Bank owned properties) and foreclosures.  MSN recently did an article with five steps you should consider if you are serious about owning income property.  Their first suggestion was that if you are not experienced in buying foreclosures you should focus on REOs.  Foreclosures usually require all cash payments, and some cannot be inspected ahead of time.  Second make sure that you do have the right to get an inspection so you know how much of an investment the home is going to be after clean up and repairs.  Third have financing set up in advanced.  The transaction will not occur if you can't pay.  Fourth hire a qualified

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Main Article

Foreclosures

Learning about foreclosures can give a real estate investor a big edge.  However you need to get educated on what foreclosures are and how to effectively take advantage of the opportunities presented.  Typically a foreclosure occurs when a person fails to make a number of payments against their mortgage.  To make up for their loss, a bank or other lending institution will take the home.  Lenders want these properties off their books so that they can continue to make loans, so they often sell these homes at a reduced price.  As a real estate investor these homes can be a great buying opportunity, but only if you find the right foreclosure.  These homes have often been unoccupied for a year or more, and the home's owner has

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Main Article

Although challenging, an investment in Real Estate can be a great long term investment.  The article reviews a few basic steps to get you started on the path of owning a quality rental property.  Educate yourself on the topic.  Use the serivces of a professional realtor to help you find a good property.  Make sure that your realtor is experianced in property management.  Your best bet is to hire a property manager to handle the day to day repairs and rent issues.  Use good judgement and do a lot of research before you commit to purchasing property. 

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Main Article

Real Estate has always been an excellent long term investment.  Whether you manage the property yourself or use the services of an experienced property manager, an investment property is much less volatile that owning stocks.  The income you get from renting the property is more steady as long as the home stays rented.  These properties build up equity over time, and historically gain value over time.  Your are taxed more heavily for profiting from the stock market than for getting extra income from renting you properties.  So if you are looking for a stable, safe, long term investment income properties are a good option. 

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Even in todays tricky Real Estate Market there a a few key things you can do to sell your home at a good price in a reasonable amount of time.  One of the main things you can do is to work with an experianced Realtor to price your home.  Many sellers decide to overprice the home, confident in the fact that they can lower the price over time.  Here is the problem with that approach.  Once a home is placed on the market, and its advertising is launched, within a few weeks you will get your largest volume of quality buyers.  When you lower the price later, they don't come back.  The best approach is to price the home right in the first place to meet your goals. 

Read the main article for more tips on selling your home.

Main Article

 

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When you are looking to buy a new home, most people get home loans.  Usually a potential buyer will either get pre-qualified or pre-approved for the loan, however there is a difference between the two.  Pre-approving is usually a document from a lender saying that a potential buyer will be able to borrow a certain amount.  The loan is still subject to a review of the buyer's application, a credit check, tax return check, and employment verification.

Pre-qualifying is a letter from a lender stating that a buyer can get a loan based on the fact that they met with the lender and talked about their financial situation.  Neither of these documents are a guarentee that a potential buyer will get the loan.  Any factor that would effect the

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