Distressed Properties Up Close: The Phoenix Tour
Posted on July 5th, 2011
Investors with the foresight to recognize prime “Buy!” opportunities should be poised to quickly take advantage of this bottomed-out market. Conditions are perfect to generate historical profits for someone in the near future and we hope it’s you.
Then it’s back to The Ritz’s private banquet room for a debriefing on exactly how you can profit from the deals. We’ll break for a short time, reconvening for dinner later in the evening. Fill the peaceful moments before sleep overtakes you that night reflecting on how few opportunities a property investor has to be a true bottom feeder. Jason consi
Neighbor vs. neighbor as homeowner fights get ugly
Posted on July 5th, 2011
A plumbing company’s banner hangs on the fence at the Inlet House, in Fort Pierce, Fla. and then foreclosed on seniors who couldn’t pay the association bill, even if they didn’t owe the bank a dime.and massive financial angst for association boards.even over a few hundred dollars in unpaid dues.
All the association board has to do is alert its attorney to place a lien on the property to start the process. The home can then be auctioned by the board until the bank eventually takes ownership. Homeowners typically have no right to a hearing.
“These are banana republics,” McKenzie says.
The problems in some communities are resulting in more scrutiny.
Inventory Shrinking, Cash Buyers Rising
Posted on July 5th, 2011
There is new evidence showing that home prices are rising or very stable in housing markets with improved employment conditions, such as in North Dakota, Alaska, Washington, D.C., and many parts of Texas. Plus, price declines are fading in the softer parts of the country as buyers recognize great bargain prices and the highest affordability conditions available in 40 years.
The new good is that the current supply of available homes at the end of May fell 1.0 percent to 3.72 million existing homes, which represents a 9.3-month supply at the current sales pace, down from a 12.5 month supply from the peak in July 2010. .)<
Tags: Rising
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Mortgage Rates: Risking Another Move Higher
Posted on July 4th, 2011
Volatility attacked on Tuesday and attacked again today.
For the second time this week, home loan borrowing costs have risen about as much as they can without negatively impacting the CURRENT MARKET Best Execution Mortgage Rates.
The abrupt jump in cost is again due to bond market volatility following a “technical breakdown.” .
CURRENT MARKET*: The “Best Execution” conventional 30-year fixed mortgage rate has risen to 4.625%. Some lenders may already be quoting 4.75% though. On FHA/VA 30 year fixed “Best Execution” is 4.375% and potentially even 4.50% at some lenders (GNI pricing = better). 15 year fixed conventional loans are now best priced at 3.875%. Fiv
First Time Home Buyers Do Still Exist – But They Are Challenged
Posted on July 4th, 2011
First time home buyers historically made up around half of the existing home sales market. In May, they accounted for only 35% of sales, according to the National Association of Realtors. With interest rates at historic lows, and a lot of value-priced inventory, it would seem that first time buyers would be experiencing a “perfect storm” in the housing market. However, they’re not buying, with some fearful and others just unable to buy even though they would like to.
The Fear
Joblessness is still high and not improving, so younger first time home buyer candidates are concerned about their incomes. They also wonder where the bottom will be for home prices. With foreclosures still entering the market at a rapid clip, they fear buying and going into negative equity right away. This
Tags: Exist, Home Buyers, Time Home, Time Home Buyers
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