Archive for February, 2010
Homes for Sale St Petersburg FL $689,000 Frank Fage
4.0 bed(s)
4.0 bath(s)
Frank Fage
Phone: 727-492-7817
Email: frankfage@realtor.com
Duration : 0:1:3
How to Make Money On Foreclosed Homes (Make Money On Foreclosed Homes)
http://www.TheMarketingSchool.com
***The 7 Figure Marketing School***
Reading & Reviewing articles to bring us both addtitional knowledge & to create value. Today’s article is about how to make money on foreclosed homes.
Follow Me on Twitter:
http://twitter.com/toddhuff1234
FaceBook Be my Friend:
http://www.facebook.com/toddhuff1234
http://www.TheMarketingSchool.com
***The 7 Figure Marketing School***
How to Make Money On Foreclosed Homes
by Jim Olenbush
Many people have heard that it is possible to make a good amount of money by purchasing foreclosed homes. But, how precisely do you go about buying a foreclosed home and how can you turn the same around and use it to make cash? You should first know a few things before you can start the business of making money from foreclosed homes.
Learn About Foreclosure Laws
The first step you need to take is to learn about foreclosure laws. In reality, there are various stages of foreclosure and there are merits and demerits associated with making a purchase during each of these stages. The more you know about the stages, the better capable you will be of selecting the right time to purchase the home so you can get the best deal possible. Apart from this, the better you know the laws, the better you will understand your rights and responsibilities as an investor.
Network with Other Investors
A main component to being successful in any business is networking. When you network with other investors, you can learn more about the business by listening closely to their experiences. Learn from their mistakes so you don’t have to make them as well. Apart from this you might be able to find some great leads by getting to know other real estate investors. Get to know as many other investors as you can by joining both online and offline real estate investment clubs.
Determine Your Area of Specialty
When you decide to become a real estate investor, you will need to decide the type of property you wish to invest in. You also need to determine what you will do with the property. In these ways, you can conclude your area of specialty.
Some real estate investors prefer to purchase homes that are in poor shape but that can be easily fixed up and resold. However foreclosed homes are not always in bad shape. The reality is that there are many foreclosed homes that are in superb shape, but the homeowner was simply unable to make his or her payments as agreed upon. Hence, you might rather purchase these homes because they do not require putting a great deal of work into them in order to resell them. Or, you might not resell the homes at all. Rather, you might purchase them for a low price so you can rent them out and make money from the properties in that way instead.
Jim Olenbush is a Texas real estate broker that has been actively selling http://www.jimolenbush.com/ Austin real estate listings for over 12 years. His team of experienced Realtors specialize in http://www.jimolenbush.com/greenshores.htm Greenshores real estate and other luxury neighborhoods around Austin, Texas.
http://www.TheMarketingSchool.com ($15K/Month?)
How to Make Money On Foreclosed Homes
Duration : 0:5:36
How You Can Still Buy Foreclosed Properties…
Discover how you can continue to make a lot of money investing in real estate despite the stumbling market – and no, we’re not talking about rental properties. Wealth Building Strategist and Insiders Group president Heru Nekhet reveals more of his Insider Secrets to Financial Freedom just for you!
Duration : 0:4:53
Ohio Man Destroys Home to Avoid Foreclosure
An Ohio man says he bulldozed his $350,000 home to keep a bank from foreclosing on it. (Feb. 23)
Duration : 0:0:50
Need Help With An Arizona Short Sale Or Phoenix Short Sale?
Do you owe more than what your home is worth? Are you behind on payments and feel that you can’t afford your home anymore? Do you think that you wouldn’t be able to pay a Realtor to sell your home due to not having enough equity? These are all symptoms of being “upside down” in your home. In simple terms, your loan amount is higher than the current market value of your home. You may want to consider negotiating an Arizona short sale.
So what can be done with a situation like this in Phoenix or Arizona? A short sale might be the best solution for your needs. Many people have never heard of the term “Arizona short sale” or “Phoenix short sale”. A short sale in Arizona is when your mortgage company agrees to take a less amount owed on your home in an effort to sell the home before having to foreclose.
Most people who are “upside down” or owe more than their home is worth are left with only 2 options when they can’t afford the payment anymore. The first is foreclosure; obviously no one wants a foreclosure. Believe it or not, that bank doesn’t either. The repercussions of a foreclosure for both the homeowner and bank can be devastating. The homeowner loses a home and destroys his credit. The bank loses thousands in court costs and foreclosure expenses.
The second option is working an Arizona short sale. The advantages of doing an Arizona short sale or Phoenix short sale is coming up with a win-win solution for all parties. For example, when homeowners complete a short sale in Arizona, they have effectively stopped a foreclosure from taking place. And they have significantly lessened the damage to their credit. As far as the bank is concerned, an Arizona short sale has prevented them from repossessing a home. Repossessing a home or foreclosing on a home can cost banks tens of thousands of dollars.
Furthermore, banks are in the business of lending money, not owning homes.
So how does a homeowner qualify for doing an Arizona short sale or Phoenix short sale? This answer will vary greatly depending on the mortgage company at hand. Every bank has different policies and guidelines when negotiating Arizona short sales and Phoenix short sales. For example, some banks will require the homeowner to be 3 months behind before they will even consider allowing an Arizona short sale. Yet, other banks will allow Phoenix short sales even if the homeowner is current with mortgage payments.
Generally speaking, to do an Arizona short sale, banks will require the proof of financial hardship. This can include loss of job, divorce, overwhelming medical bills, and other various financial stressors. Furthermore, the bank will require that the home be listed with a licensed real estate agent. This is usually done to verify the value of the home. Homeowners are typically not allowed to try and negotiate and/or sell the homes themselves when doing an Arizona short sale or Phoenix short sale. In conclusion, if you feel that you can no longer afford your home, and you owe more than what it’s worth, consult with a licensed real estate agent or attorney regarding an AZ short sale.
Reed Lattin
http://www.articlesbase.com/real-estate-articles/need-help-with-an-arizona-short-sale-or-phoenix-short-sale-698611.html
What You Need To Know About Foreclosure Lists
There are certain tools in the real estate industry an investor is not able to live without. One of these would be the foreclosure listing. Without foreclosure listings, investors will have to search for properties that could earn a profit. However, even though investors are the ones that use foreclosure listings the most, this does not mean that ordinary homebuyers may not be able to benefit from them.
The major advantage of foreclosure listings is that you will not have to look for avenues from all over the country. This means that investors would have to look out for homes that they could mint money on, without spending time on scouring the area.
In addition, investors prefer foreclosure lists, as they are helpful in ensuring that you dont miss out on properties available. There could be times when you find innumerable foreclosed homes in a particular city in America. Without a foreclosure listing, finding a top-notch property deal will not be easy.
Homes are big investments and foreclosure listings could make anyones dream come true. There are dreams of an ideal home that every individual wishes to pursue and achieve. This would mean a certain kind of house in a particular city, with just the kind of interiors you wanted. Foreclosure listings usually have a plethora of homes to choose from.
Homes which have been taken back from buyers are foreclosed homes. Due to some reasons, the original buyers were not able to fulfil the obligation payments and the financing company had to repossess it. This is when it is taken and put up for sale again. There are many homes placed in a listing that has been foreclosed on. This can prove to be good for the buyer, as usually foreclosure home listings are below appraisal value and one can usually pick them up for less than they are actually worth.
Whether it is an individuals first home or one of the many, foreclosure home listings can usually bring profits for all. The sudden surge in real estates is astounding. One can make money by buying homes, which are lesser than their original value. Just because homes are available at lower rates, people throng to get their hands on a foreclosure home listing. If the house is in bad shape and needs repairs, you can choose to complete the work and take the cost off the down payment or the price of the house. Foreclosure homes are not of much value to the mortgage company that repossesses it.
Usually the Mortgage Company or the bank is in a hurry to sell foreclosed homes. The sooner it is sold, the sooner they can start making money on it again. Foreclosure home listings were fairly easy to get as banks usually work with you and accommodate a good deal. If its a good deal you are looking for, make your dreams come true and make profit with a foreclosure investment.
Foreclosure listings are very essential, if you are thinking of real estate investment. By using these listings you would be able to look for property in your area, without spending too much money and time. Even if this does take time, it is definitely worth the effort.
Kris Koonar
http://www.articlesbase.com/non-fiction-articles/what-you-need-to-know-about-foreclosure-lists-134681.html
Fed Policymakers to Cut Rates Today … But Does Anyone Really Care?
By Don Miller
Contributing Writer
Money Morning
With the economy in a tailspin, the U.S. Federal Reserve policymakers will today (Tuesday) almost certainly cut the benchmark Federal Funds rate from its current 1.0% to 0.5%.
So the question no longer seems to be whether the Fed will ease, but whether the move will make any difference.
The Fed has been hamstrung by a credit-market double-whammy: borrowers who are in limbo due to fears of soaring unemployment, and banks that have turned off the lending spigot. Even so, a U.S. economy facing its worst financial crisis since the Great Depression demands the central bank take decisive action.
That has led to a strong undercurrent of opinion among analysts that the Fed will pursue other measures to spark a moribund U.S. economy.
“We look for the accompanying statement to highlight that the main nexus of policy in the coming months will be quantitative easing operations, and we expect these operations to be aimed at lowering borrowing costs for households and businesses,” Dean Maki, economist for Barclays Capital Management (ADR: BCS), told MarketWatch.com.
In other words, get ready for another attempt to kick-start bank lending by injecting more federal cash into the U.S. financial system.
One move the Fed could make is to buy massive amounts of U.S. Treasuries in an effort to keep yields from rising. Fed Chairman Ben S. Bernanke suggested in a Dec. 1 speech that the central bank might buy “longer-term Treasury or agency securities on the open market in substantial quantities.”
Bond market traders seemed to confirm that notion yesterday (Monday) by driving the price of 10-year Treasuries higher for a third straight day. The yield curve, the difference in yield between two-and 10-year notes, flattened as the difference between the two narrowed.
Driven lately by uncertainty over the Bush administration’s handling of the Big Three automakers’ bailout, investors have pushed yields on Treasuries to record lows. Treasury security yields last week reached the lowest levels since the U.S. started selling two, five, 10- and 30-year securities.
In a report issued last week, JPMorgan Chase & Co. (JPM) predicted the yield on Treasuries in 2009 will be driven as low as 1.65% (from about 2.65% currently) amid “high uncertainty.”
Sign up below…
and we’ll send you a new investment report for free:
“Credit Crisis Report.”
Unloading stocks, corporate bonds and debt from mortgage-finance companies Fannie Mae (FNM) and Freddie Mac (FRE), investors purchased $34.6 billion of Treasury securities in October, up from $20.7 billion in September, according to the U.S. Treasury Department.
“You still have a massive paranoia in the marketplace and you’ve got that safety-at-any-cost mentality,” Jay Mueller of Wells Fargo Capital Management (WFC) told Bloomberg News. “People are not buying Treasury bills because they think the yields are attractive. They are buying them because they are afraid to put money anywhere else.”
According to Merrill Lynch & Co. (MER), U.S. government bonds have returned 12.4% so far in 2008. That’s the best return since 2000, when they gained 13.4%. Meanwhile, the Standard & Poor’s 500 Index is down 40%, and the Dow Jones Industrial Average has lost 35%.
The Fed’s Arsenal
The Fed is pulling out every weapon in its arsenal to avoid deflation. A sustained drop in asset prices is the central bank’s worst fear since it could lead to more foreclosures and heightened economic chaos.
One undesirable side effect of the numerous economic stimulus packages is the potential for inflation and a decline in the dollar. Based on its actions, the Fed is apparently willing to take that risk.
In fact, speculation around the probable Fed interest rate cut knocked the greenback down to a two-month low against the euro, touching $1.3703 yesterday, the lowest it’s been since Oct. 14. With reduced demand for the dollar as a safe haven, the greenback dropped to a 13-year low against the Japanese yen and also lost ground to the British pound.
“We will stay in a low-interest-rate environment for some time,” Fabian Eliasson, vice president of currency sales at Mizuho Corporate Bank Ltd. in New York, told Bloomberg. “That will take away interest-rate play, and the dollar will suffer.”
After a four-month rally of 24%, consensus estimates for the dollar issued last week by Citigroup Inc. (C), Goldman Sachs Group Inc. (GS), BNP Paribas SA and Bank of America Corp. (BAC), predicted further weakness against the euro.
After strengthening from July to November, the U.S. currency has retreated by 6.6% from a two-year high on Nov. 21, as measured by the trade-weighted Dollar Index. The dollar has fallen against the euro, yen, pound, Canadian dollar, Swiss franc and Swedish krona since peaking three weeks ago
To read more click here
Money Morning
http://www.articlesbase.com/business-opportunities-articles/fed-policymakers-to-cut-rates-today-but-does-anyone-really-care-688012.html
Bank Foreclosures
Bank foreclosure real estate also referred to as REOs (Real Estate Owned) is foreclosed real estate that is owned by the bank due to an unsuccessful foreclosure auction. There are several reasons the home may have not sold at the auction. The most common reason is negative equity- the bank foreclosure real estate is worth less than the amount owed to the bank. Of course, the bank seeks to receive the outstanding balance of the original loan; therefore, the minimum bid for the bank foreclosure real estate is usually the amount of the outstanding balance of the original loan, plus interest and any additional fees. No smart investor or buyer will consider bidding on such a property.
Nevertheless, an unsuccessful sale will not stop the bank from trying to make an attempt to get the bank foreclosure real estate sold. The bank will consider removing some or all liens and fees on the bank foreclosure real estate in order to get it on the real estate market and resell it to the public. The resell process may be retrying an auction or working through a Realtor.
This is a hot market for real estate investors. Real Estate investors take an eager interest in bank foreclosure real estate property. The market of foreclosed homes may be large; but, not always suitable for some investors. The foreclosed property may not meet some important needs. Nowadays home buyers and investors alike are scrambling through the market of bank foreclosure real estate looking for better deals. Though, most bank foreclosure real estate property is in poor condition, the low sale price of the home highly compensates for the property poor condition.
Investing in bank foreclosure real estate property offers a great return for investors. Bank foreclosure real estate by far offers greater deals than typical foreclosed homes. As an investor you must consider all your options. Make sure you get the bank foreclosure real estate property at the best price. Hopefully, the bank foreclosure real estate that an investor chooses to invest in will give the investor rewards; such as a larger return in profit, either through renting the home out or through selling the home.
There are several ways to search for bank foreclosure real estate property. You can search the Internet, magazines, and newspaper listings. The Internet can lead you to thousands maybe millions of connections. Here you can view listing by state, banks, county, and much more.
You should also invest time in finding a good real estate agent. If they know what you are looking for, they can save you a lot of time and work. They can also help you determine the true market value of the home you are considering investing in.
Heather Seitz
http://www.articlesbase.com/finance-articles/bank-foreclosures-684466.html
Where is the best place to look for Foreclosed Homes in my area?
I am looking to purchase a Home in the very near future. I am certainly not a millionare and want to get the most for my money. I also do not mind getting a fixer upper I am willing to do most of this work myself, I just dont know where to start looking for Foreclosed homes or bank Repossed homes. Can anyone help?
Find a realtor that you’re comfortable with and tell him/her you want to look at REO properties. Foreclosed houses are listed for resale through realtors. You can’t deal direct with the banks.
655-57 ALLEN ST SYRACUSE, NY 2 FAMILY HOME FOR SALE
BEAUTIFUL 2 FAMILY HOME NEAR SYRACUSE UNIVERSITY. THIS CLASSICAL HOME HAS 2 LARGE APARTMENTS. EACH APARTMENT HAS 3 BEDROOMS 1 BATHROOM, FORMAL DINING ROOM,LARGE LIVING ROOM, HARDWOOD FLOORS, NEW KITCHEN APPLIANCES. THE NEIGHBORHOOD IS PICTURE PERFECT. RIGHT OUT OF A NORMAN ROCKWELL PICTURE. THIS HOME IS LOVINGLY WELL CARED FOR AND IMMACULATE. THIS CLASSICAL STYLE HOME IS A REAL BEAUTY. IF YOU LIVE ON ONE SIDE AND RENT OUT THE OTHER SIDE YOUR MONTHLY MORTGAGE WOULD BE EST. $400. THE HOME IS CLOSE AND WALKING DISTANCE TO THE SU CAMPUS, SHOPPING AND RESTAURANTS
Duration : 0:2:24