In many parts of the country, home prices doubled during the period from 2000 to 2005. During this same time, creative financing programs (e.g. zero down payment, adjustable rate loans, interest only loans, option ARMs loans, negative amortization loans, etc.) gained popularity and helped some people buy homes who would not normally qualify based on their income, debt level and credit history.
Most real estate markets are now cooling, and some are even experiencing declining prices. In times of dropping real estate prices, the amount owed on a loan by some homeowners may actually exceed the value of a property. If homeowners cannot make their monthly mortgage payment, there is a potential for default on the loan and foreclosure of the property by the lender.
Has anyone had any luck purchasing a short sale in the san gabriel valley?
Has anyone had any luck purchasing a short sale in the San Gabriel Valley.
If so please share your experience..
How long did it take?
Whats steps did you take ?
Do you recommend an agent that specializes in short sales?
Thanks
First time buyer with time to make offers on Short Sales!
It takes an average of 2.5 months. You make a low offer and have that offer sent to the bank to be negotiated. With the right knowledge, you can pre-screen your agent. The link below shows how you can you buy short sales cheap.
Are there any real estate investment courses out there that arent scams?
I am basically looking for a course, if anyone knows of one that isnt a scam, that teaches the basics of real estate investment.
To make a profit requires consistency.
To have consistency requires you know and speak the language.
Take the real estate licensee course. You will learn most of the ins and outs plus you’ll meet the real players in the real estate business. Because they too know that the real money comes from knowing the ESSENTIALS.
Real estate investment is perhaps one of the most lucrative forms of investment today. But it is also equally risk bound especially when one is not well versed with the trends and nuances of the real estate market. So if you are contemplating on investing in real estate, it is best to avoid costly mistakes in real estate investment especially when you invest your hard earned money into it. Knowing the most common mistakes made by real estate investors helps one steer away from making such mistakes in the future and ensures good return on investment.
Is the market overcrowded with short-sale real estate agents?
I am being approached all the time by Nouveau Riche representatives wanting me to partner for the short-sale market they say is just exploding. I can see the value, but I don’t understand the risks. Specifically, how difficult is it to find the distressed homeowner, bank, and investor willing to go through with the deal? I appreciate a response from someone “in the know” who’s willing to straight-talk this one.