real estate
Housing Pattern Changes in the Last Decade
Thursday, September 9th, 2010 | Real Estate Investing | 1 Comment
I think we’ve all seen how housing patterns have been changing over the years, but now we know just how much. The latest American Housing survey was just released by the Census Bureau and Department of Housing & Urban Development. Published every two years, the exhaustive analysis examines just about every aspect of American home life for both renters and homeowners. So what has changed over the last ten years?
- Amenities – Fireplaces, decks and garages are more likely to be in homes now than 10 years ago.
- Safety – More emphasis is now placed on having smoke detectors and keeping them stocked with fresh batteries regularly, carbon monoxide detectors and sprinkler systems.
- Size – The latest survey showed a 4% increase in the number of homes with 4+ bedrooms, with the median house size growing to 1800 sq./ft. There was also a 9% increase in the number of houses with 2+ bathrooms. That growth has stabilized with the continued housing crisis, with people seeming to return to smaller, more livable-sized houses.
- Cost – The median amount homeowners paid for their house (mortgage, taxes, utilities, insurance) rose over $400, with renters paying over $225 more.
- Aesthetics – neighborhoods are getting prettier, and people are paying more attention to the aesthetics of their neighborhood.
- Debt – The amount of debt has been on the rise. The median purchase price for a U.S. home in 1999 was $62,823. In 2009, it was $107,500. In 1999, the median outstanding principal owed by home borrowers was $64,762 and just 0.9% of those owners were carrying a mortgage debt of $300,000+. In 2009, the median outstanding principal was $106,909, with 6% of owners owing $300,000+ on their homes.
- Age – the median age of our houses now is 34 years old, up from 30 years a decade ago. The number of pre-1919 owned homes was down from 7.6% to just 6.2%.
Fannie and Freddie Reform (This impacts you)
Thursday, September 9th, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales | No Comments
Freddie Mac and Fannie Mae reform is inevitable.
Together they have amassed trillions of dollars of assets, and billions of dollars of liability. The question is what is going to happen, and who is going to get what?
How we buy and sell real estate in America will change forever. This just doesn’t impact real estate investors, but homeownership in general.
That’s why TONIGHT Jeff Watson and John Grant are holding a very special webinar at 8:30 pm Eastern, 5:30 Pacific, to fill in the missing pieces that our elected leaders aren’t telling you.
They will relay the latest news straight from Washington D.C. regarding GSE (Government Sponsored Enterprises) reform, and provide incredible insights into the closed-door meetings happening right now, behind your back.
Click here to register for the call at 8:30 pm Eastern.
There is massive political pressure from all viewpoints, but is your voice as a real estate investor being heard?
John and Jeff are both active advocates for the rights of real estate investors. They’ll fill you in on all the details of what’s happening, what you should know, how to prepare, and how to react to this monumental decision.
Don’t miss tonight’s call.
My best,
Josh
P.S. There are nearly 1,000 people registered for this call already – don’t get shut out!
Click here to register now.
From Closed Door Washington Meetings
Tuesday, September 7th, 2010 | Foreclosures, Real Estate Investing, Real estate short sales, Short Sales | 1 Comment
At this very moment there are closed door meetings in Washington D.C. that will determine not only your fate as a real estate investor, but the future of the American Dream of homeownership.
Real estate as we know it will change forever.
(I don’t say this lightly.)
Fortunately, we have advocates fighting for our voice.
Jeff Watson and John Grant are fighting for our rights as real estate investors.
They are our “guys on the inside” and sitting at the table to protect our livelihood.
Right now there are major industry changes happening that directly impact what we do as real estate investors. (And even as homeowners.)
This isn’t hype; it’s very real and very scary if you don’t know how to react.
That’s why Jeff and John have scheduled an EMERGENCY UPDATE webinar this Thursday night, Sept. 9 at 8:30pm Eastern to directly address the industry changes and what they’ve learned sitting down at closed door meetings in Washington D.C.
They will discuss the topic of Fannie Mae and Freddie Mac reform and what it means for you and your business.
Closed door meetings have been held, and government hearings have been conducted. You need to be aware of what’s going on behind your back.
Get on the call to find out how you can prepare yourself.
Join Jeff and John this Thursday at 8:30 pm Eastern.
This call is critical. With the pending reform, at stake is TRILLIONS of dollars in assets, BILLIONS of liability. This will reshape real estate in America and how property is bought, sold and owned.
I can’t stress enough how important it is for you to be on this call.
Register at the link above and take a positive role in the change.
Best,
Josh Cantwell
House in a Box for $2,500?
Friday, September 3rd, 2010 | Foreclosures, Real Estate Investing | No Comments
High-end home builders are feeling the housing market pinch. Rather than building lavish mansions, many have either gone out of business or shifted to remodeling or building more modest-priced homes.
One company in particular, Envirocontrol Systems in Montana, traveled wherever they needed to find work. But soon the family-owned company knew they had to do something more permanent if they had any hopes of surviving. They turned to building portable housing. Now, rather than building homes that run $1,500-$1,800/sq. ft., they are building ones that cost $20/sq.ft. The buildings are basically shells that can be assembled within a few hours, with very little manpower. The family sees their potential market as third-world countries where housing is scarce or areas with a population displaced by natural disaster. Events like the Haitie earthquake have raised interest in the portable housing concept. But they can also be used as temporary office space, hunter’s shelters or ice fishing shacks. After some trial and error and a much-needed boost from an outside investor, HabiHut was born. Weighing 400 pounds, packed into a 4’x8’ crate and costing $2,500, the 118 sq.ft. hut can be assembled in a couple of hours with minimal tools. HabiHuts can be combined to create larger structures. The uses for a HabiHut are virtually endless – from water kiosks in remote areas to restroom facilities in national parks. Perhaps a peek into the future housing boom?
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.
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.
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
The Buy Price Formula
Friday, August 27th, 2010 | Real Estate Investing | No Comments
Knowing when to pull the trigger doesn’t have to be complicated. If you know you are getting a good deal then just buy the property, fix it and re-sell it. They key is “buying right.” If you follow this formula, can ballpark repairs with some accuracy, and know your exit strategy then chances are you’re off to a good start. So what’s the “buy price formula”? The formula that I have used and my students have used to buy and resell thousands of properties is this:
Take the after repaired value, multiply times 65% and subtract the repairs. That’s your buy price.
Example:
- Mortgage Amount: $330,000
- House Value: $300,000 after it’s been fully repaired (ARV).
- House Needs: $20,000 in repairs
- As-Is Value: $280,000 as is value = $280,000
- “Buy Price Formula” After Repaired Value (ARV) X’s 65% minus Repairs
- Example: $300,000 X 65% minus $20,000
- Offer Price: 195,000 – $20,000 = $175,000
- Notice that the amount owed is not relevant.
This formula works on all properties, too. Probates, Wholesaling, Short Sales, Free and Clear, Rehabs and REOs. I always like to say that if you’re not embarrassed by your offer, you’re offering too much. Most everyone at some point offers too much, only to find that costs go up, or the property doesn’t sell. Do that enough times and you’re either out of business, or hooked on antacids for heartburn or both! Buy right!
Homeowners Getting More Pessimistic
Monday, August 23rd, 2010 | Real Estate Investing | No Comments
Homeowners know it’s tough out there, as evidenced by the latest Harris poll of homeowner confidence.
Homeowners are more pessimistic now about the future of home values than they have been in the past three quarters. More than 28% think home values in their local area will fall in the next six months. That’s nearly a 10% jump from the first quarter of the year. There was also a 12% drop in the number of homeowners who think home values will increase in the next six months. As to what happened to their home values in the past year? Only 24% think their home value increased, when in reality it was 32%. “The shift isn’t much of a surprise. Homeowners have been socked over the heads by dire news about their real estate markets for close to four years now. Yes, it took some time for perception to catch up with reality, but it’s clear how in-tune homeowners now are to news about the housing market.”
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