This post has nothing to do with real estate, a particular house or property… it’s just funny. This guy actually updated his Facebook status while robbing a house.
Fact is stranger than fiction.
Filed under funnyHere is an interesting website. If you have a few hours to kill, check out the many ways people scheme and cheat just to make a few extra bucks. –> Mortgage Fraud Blog The site is a collection of schemes collected directly from the FBI.
Remember: If you even hesitate to disclose something either to the lender, the seller or the buyer, then you are probably doing something illegal. stay out of trouble unless you want to take a LONG vacation! DISCLOSE, DISCLOSE, DISCLOSE! This is even more true if you are a real estate investor. As a real estate investor, we often are forced to come up with “out of the box” methods to accomplish the best outcome for all parties. Unfortunately, many people (if not most) in RESIDENTIAL real estate hear the term “out of the box” and assume it must be illegal, or at the very least “shady”. When people here the term “double close” they automatically assume that any deal structured to close similtaneously or back-to-back, or on the same day is illegal and should be avoided. When people don’t understand something they automatically think the worst. Commercial real estate is done this way all the time. Residential has adopted this method for efficiently moving pre-foreclosure properties to the end buyer. The traditional method for buying short sales involves a lot of waiting for end buyers to make offers, and one of many problems arise; like not always being prepared to pay for hidden or ancillary liens that come up at closing, thus slowing things down and making it harder for everyone.
An investor using a properly structured back-to-back closing method can eliminate most any problems that come up, and make it a WIN, WIN, WIN for everyone.
Using the Option contract where everything is transparent, and everyone knows what’s going on is completely ethical and legal. Besides the banks do not, and should not have any right or business what the property is ultimately sold for. If they agree to a specific price and they get their money, then what happens after that is not their business. Anyway, remember they got the bailouts (we didn’t). Courtesy of OUR money!
Happy Investing!
Filed under mortgageAccording to the Commerce Department, sales of new homes rose 9.6% to a 433,000 annual pace in July; this was the highest pace in 10 months. The data points to stabilization in the housing sector which has been in slump since 2005. The median price of a new home decreased 12% to $210,100 from $237,300 in July 2008. Sales of new homes were down 13% from a year earlier. “The housing market is bottoming out,” said Conrad DeQuadros, a senior economist at RDQ Economics. “At the same time, it’s not going to turn around very quickly.”
The Northeast saw a 32% rise in sales, while the South saw a 16% rise and the West saw a 1% rise. Sales dropped 7.6% in the Midwest. There were 271,000 houses on the market last month, down 35% from July 2008 and the fewest since March 1993. At the current sales pace, it would take 7.5 months to sell all homes. Unemployment continues to remain a concern for the housing market. Analysts say that housing recovery could be hit if unemployment continues to rise.
Filed under housing marketNo one has been spared some sort of pain from the housing bubble. Even Adolf had some credit issues:) This is what happens when house flipping and getting caught up in the lure of easy money with easy credit turns to the dark side:)
Filed under housing bubbleThis property was reduced from $99,500
Asking $64,000
Cozy 3 bedroom, 1 bath home in the center of Fort Walton Beach. Kitchen and bath have been updated. Great starter, retirement or second home. Estate sale. Price has been reduced for quick sale. PROPERTY TO BE SOLD “AS IS”. Listed by: CLAUDETTE HEINRICH REALTY INC
Contact Steve at 850.502.6094 or steve@nodramarealestate.com for more info.
Filed under REO, property for sale
2 bedrooms | 2 bath | 1300 square feet
Asking Price: $94,900
GREAT LOCATION CLOSE TO BOTH MILITARY BASES. LARGE OPEN LIVING AREA WITH A FIREPLACE, HARDWOOD FLOORS IN THE LIVING ROOM, PASS THROUGH WINDOW TO AN UPDATED KITCHEN WITH NICE CABINETS AND NEWER COUNTER-TOPS. BONUS ROOM ON SECOND LEVEL THAT CAN BE USED AS A BEDROOM OR A DEN. FINANCED OFFERS MUST BE ACCOMPANIED BY A PRE-APPROVAL LETTER FROM A LOCAL BANK OF AMERICA OFFICE (FORMERLY COUNTRYWIDE HOME LOANS). CASH OFFERS REQUIRE PROOF OF FUNDS. BANKF OF AMERICA WILL OFFER A FREE APPRAISAL AND FREE CREDIT REPORT IF THE BUYERS FINANCE AND CLOSE THE PROPERTY THROUGH BANK OF AMERICA. PLEASE ALLOW 2-3 BUSINESS DAYS FOR SELLER RESPONSE. BAC ADDENDUM REQUIRED AFTER OFFER IS ACCEPTED. THIS IS A BANK OWNED PROPERTY(REO). PROPERTY TO BE SOLD “AS IS”. Listing office is RE/MAX SOUTHERN REALTY - FWB
Contact Steve at 850.502.6094 or steve@nodramarealestate.com for more info.
Filed under REO, property for sale
3 bedrooms | 2 bath | 1168 square feet
Asking Price: $112,000
Affordable home on a level lot, almost 2/3 acre! And it is NOT a Short Sale so we can close quickly!!!Cathedral ceiling over the Living Room and the Dining area has a bay window. Galley Kitchen with all appliances, including a smooth top range, and a Pantry. Master Bedroom has double closets and there is a double vanity in the master bathroom. Tile floors except in the bedrooms. Fenced area in the back yard is great for your kids to play safe. The property goes well beyond the fenced area, so there is plenty of room for your garden! Property Appraiser’s records show the SF at 1216 which has an error in the garage dimensions. Although this property is bank owned and sold “AS IS”, it is in good condition. Be sure to take a look today! Listing office is AMERICAN REALTY OF NW FL INC
Contact Steve at 850.502.6094 or steve@nodramarealestate.com for more info.
Filed under REO, property for sale
3 bedrooms | 2 bath | 1950 square feet
Asking Price: $239,500
Ready for immediate occupancy, there is great value in this Bank owned Bluewater Bay waterfront property. This three bedroom two and a half bath home has many features and amenities including fireplace in family room, enclosed Florida room (not included in square footage), fenced back yard and lawn pump. The master bedroom has a view of the lake and a large walk in closet. The other two bedrooms are spacious and there is plenty of shelving in the large closets. Kitchen has new appliances and is open to the spacious family room. There is also a formal dining room. The lot features beautiful large oak trees and 80 foot along the lake. The entire house has been recently painted and is move in ready. Eglin Federal Credit Union is offering special financing terms to members. This home is priced $20,000 below a recent appraisal. This won’t last long. Call for a appointment today. Listing office is CENTURY 21 WILSON MINGER AGENCY
Contact Steve at 850.502.6094 or steve@nodramarealestate.com for more info.
Filed under REO, property for sale
3 bedrooms | 2 bath | 1312 square feet
Asking Price: $92,900
This is a cute home on a nice corner lot. It is close to everything, schools, shopping, and both bases. It has the charm of an older home, but has been remodled for your convience. Looking for a nice home in an attractive neighborhood, look no further. This is a bank owned property. Listing office is WAYNE PATTON REALTY
Contact Steve at 850.502.6094 or steve@nodramarealestate.com for more info.
Filed under REO, property for sale
