Foreclosures
CoreLogic: 43.4% of Sacramento-area mortgages “underwater”
Thursday, September 2nd, 2010 | Foreclosures, Real Estate Investing, Short Sales | No Comments
This is a quick snippet I came across this morning after my workout… The article provides a link to what’s going on in the Central Valley. Hey, I know most of us don’t live in California, but with a population of 38MM it’s still a juggernaut and one of the largest economies in the world. With so many houses upside down, one wonders what can be done? ~Josh
See more in The Sacramento Bee
Superman to the Rescue, Again!
Wednesday, September 1st, 2010 | Bank owned, Foreclosures | No Comments
It seems Superman’s powers just can’t be stopped.
In his latest rescue, a family on the brink of foreclosure saved their home when they found a rare copy of Superman’s debut comic, Action Comics #1, in their basement. The family was packing up their home when they came across a stash of old magazines and comic books. They contacted a local comic book dealer to see what they could pawn. The dealer was hesitant at first, but saw it was the real deal after the family sent him a photo. The dealer then took the issue to Comic Con to be valued. It is expected to fetch upwards of $250,000 at auction at the end of August. So how does this help the family now? The co-owner of the comic book store presented the bank with information on previous rare edition auctions and proof of what this issue could bring – telling them, they’d have their money soon. Once again, Superman saves the day.
Devalued Homes Anchor Prospective Job Seekers
Tuesday, August 31st, 2010 | Foreclosures, Real Estate Investing, Real estate short sales, Short Sales, Uncategorized | No Comments
In a recent post, I asked a question about how the recent housing meltdown has possibly changed the American Dream. This article support something that I’ve long considered, that housing can be more than just a financial burden; that it can prohibitively anchor someone to a community with limited opportunities and be an albatross around the neck.
Example, much of the Midwest is filled with communities that thrived as long as the local factory was in town. Unfortunately, most of them have been shut, taking their tax breaks and headed over seas for cheap labor. Millions of people were stranded in houses they couldn’t afford and communities with little to no financial opportunity… and this was long before the housing crash!
If you haven’t yet started your rental portfolio, now might be a good time to consider landlording. But before you do, make sure to check out our newest release, call Landlording Confidentail by Jeff Watson. You won’t want to miss the expertise he shares from his 25 years of experience maintaining a rental portfolio.
Oh… and be sure to check out this article. See NPR.
Procrastination on Foreclosures, Now ‘Blatant,’ May Backfire
Tuesday, August 31st, 2010 | Foreclosures, Pre-foreclosure, Real estate short sales, Short Sales, Wholesale properties | No Comments
This article builds on where the NYtimes piece left off…
“The industry as a whole got into a panic mode and was worried about all these loans going into foreclosure and driving prices down, so they got all these programs, started Hamp and internal mods and short sales,” said John Marecki, vice president of East Coast foreclosure operations for Prommis Solutions, an Atlanta company that provides foreclosure processing services. Until recently, he was senior vice president of default administration at Flagstar Bank in Troy, Mich. “Now they’re looking at this, how they held off and they’re getting to the point where maybe they made a mistake in that realm.”
What are you seeing in your market? Are prices finally coming in line with area local incomes? ~josh
See American Banker.
Widespread Fear Freezes Housing Market
Tuesday, August 31st, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales | No Comments
Well, you really can’t miss when you begin with a lead-in like this:
“ You have to wonder sometimes what they’re smoking over there at the National Association of Realtors.”
What real estate investor the past seven years hasn’t wondered the same thing?
~josh
See The New York Times.
Tips to Make Your House Stand Out to Buyers
Tuesday, August 31st, 2010 | Foreclosures, Real Estate Investing | No Comments
If you’re trying to sell a house on the retail market, you’re likely up against a lot of competition.
So, what’s it going to take to get the attention of buyers? You need to make your house stand out from any other on the market. We’ve heard the statistics and know what we’re facing – sluggish sales of new homes, and plunging sales of existing homes. But, that doesn’t mean you have to give up. There’s things that you can do to make your house as attractive to buyers as possible, including the following:
- Price competitively – research similar homes in your area that are for sale and set your asking price as competitively as possible. Buyers won’t want to haggle if they can get a comparable house down the street for less money.
- “We’re Not in Foreclosure!” – making it known that you’re a traditional seller means your house is probably in better condition than ones in foreclosure – things are being maintained and the lawn is being mowed. Sellers can also offer little perks like credit towards closing costs.
- Best foot forward – curb appeal matters. Showcase the property as best you can inside and out.
- Professional photos – consider hiring a professional photographer to spotlight the best features of the house, in photos and video.
- Consider renting – renting or leasing can be a great alternative in a tough market.
Existing Home Sales Plunge in July
Tuesday, August 31st, 2010 | Bank owned, Foreclosures | No Comments
We’ve hit another record, and not a good one.
In July, sales of existing homes plunged to the lowest levels in 15 years, despite super low mortgage rates and bargain home prices. In July, sales fell by more than 27%, marking the largest monthly drop since 1968. Of course, fears in the housing market magnified fears about the broader economy. With the inevitable double-dip, things may only get worse. The housing market is undermining the faltering economic recovery. The hardest felt range was lower to mid-priced houses. In the Midwest, homes prices between $100,000-$250,000 fell by 47%. This record comes off a strong spring, when the government-sponsored tax credits provided a much-needed boost. Slower sales means more houses being added to the inventory levels, resulting in a 12.5 month supply of homes at the current pace of sales. Also adding to the plunge is high unemployment rates, increasing foreclosures and a standoff between buyers and sellers on price. Sellers are reluctant to lower prices too far, and buyers are reluctant to purchase, fearing prices will continue to drop.
Learn from a Jedi Master Short Sale Negotiator
Monday, August 30th, 2010 | Foreclosures, Pre-foreclosure, Real estate short sales, Short Sales | No Comments
Happy Monday! Can you believe it’s almost September? Well, I have a great way to kick off a new month. Check this out.
How would you like to listen in as the nation’s top short sale negotiator spills the beans on negotiating your way to FASTER and EASIER approvals?
Join me this Thursday, Sept. 2 at 8:30 pm Eastern as I talk with my good friend Dean Edelson. Dean is truly a Jedi Master when it comes to short sale negotiations. Over the last five years Dean has recorded ALL of his loss mitigation calls. That’s over 1600 calls!
Click here to Register for this Sept. 2 webinar now.
Dean is going to reveal some of his best kept secrets to help you…
*Get your deals approved faster.
*Blast through lender objections.
*Create bigger profits.
*Deal confidently with difficult mitigators.
*Negotiate like a Jedi Master.
You don’t want to miss this call. Having this information is something that will definitely set you apart from the pack, and improve your results tremendously.
See you on the call!
Josh
P.S. Why miss the chance to tap into your inner Jedi?
Register for the call right now!
Legally swipe your competition’s private lenders (video for ya)
Sunday, August 29th, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales | No Comments
Have you ever seen a real estate investor in
your town closing a bunch of deals…
… and you’re sitting there wondering how they’re
funding their deals?
Well, this video that I found last week
shows you how you can literally (and legally)
*spy* on your competitors to see who their private
lenders are (and hard money lenders too!)… and
he shows you how you can swipe those lenders so
they can become your own.
Check out the video… its 23 minutes… and I think
you’ll enjoy it a ton 
https://m1mm.infusionsoft.com/go/pmod/Josh/ <<<
Oh, also…
… the video shows you how this also
works for finding ANY person who lends private
money in your local market pretty darn easily
(this source he shows in the video is free in most counties too
There’s actually an example of a real world
private lender he found doing what the video talks
about that just lent $300k to another investor
a month ago.
This can change the game for some investors who
are needing more private lenders to help you close
your deals.
Check out the video and let me know what you think <<
See ya over there
Josh
PS – I think they may be taking the video down soon…
not sure when… but it’ll definitely be soon. So, head
on over and check ‘er out now while its up for ya.
36 *Active* Private Lenders In 27 Minutes (How He Found Them)
Saturday, August 28th, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing | No Comments
If you watch this video my buddy put up and keep
saying you can’t find private lenders in your
area… I’d have to say you’re a bit crazy 
This guy found 36 active private lenders with
over $1.2mm in *available funds* in under 27
minutes through this source he shows you in
this free video.
The video will show you how you can find
all of the local *active* private lenders you
want, from a FREE resource available to those
of us who know how to use it correctly.
Click the link below to watch the presentation
https://m1mm.infusionsoft.com/go/pmod/Josh/
Enjoy
Josh
