Everyday we are seeing more and more opportunities coming available. Opportunities for home buyers. Opportunities for investors. And probably opportunities for you!
Yes, foreclosure filings are up. Yes, Lenders as ending up with too many properties. And although that may sound bad for the economy- right now. This is a great time for many to either buy that dream home or invest in income properties.
If you have been considering buying a home, up-sizing or down sizing - now may the time. Lenders are ready to deal with in inventory homes. Many need little or no work to move in. Prices can be fabulously low for the qualified buyer. Rates are low and are expected to begin rising as the market begins to improve.
If you have been considering buying income property to enhance your portfolio? With the lower prices and lower rates, your potential rental income may either cover your debt service or may even give you a profit. When the market picks up [and of course it will] , your equity will grow while your tenant pays your expenses.
Are you ready?? Step one- talk to a good loan officer. Let them take a look at what they can do for you with current loan programs. If you can qualify and have the cash down payment - then YES- you are ready.
For more information, available properties, good lenders or a market value/ investment analysis, give us a call.
954-632-5514
We can help!
Wednesday, May 21, 2008
Monday, March 17, 2008
Foreclosures
You here about them in the news. You see them down the road. Everyone is talking about foreclosures. Are they really a buyers bargain?
The honest answer- maybe! Much depends on the stage of default the property is in. Pre-Foreclosure (owner is behind in payments) and Short Sales (owner owes more than the property can sell for) are often not resulting in a super great deal for the Buyer. In Pre-Foreclosures, the lender or lenders are usually not very eager to negotiate. They tend to prefer to work something out with the Owner. Short Sales are even more difficult. Basically you are asking to lender to give up money owed to them.
Foreclosures or REO(Real Estate Owned) properties are owned by the lender. These are where you may find your best deals. Once the Lender owns the property in their inventory, they become quite anxious to unload it quickly. With the right preparation and terms, often a really great price can be negotiated.
Foreclosures often need some work. Some will need everything from a new roof to walls - others will just need fresh paint and carpet. The Lender will NOT make any repairs - so be prepared to do the work yourself at your own expense. But, often with a little elbow grease, a few dollars spent at the local Home Depot and tenacity you can find a great deal in the Foreclosure Market.
Finding good Foreclosures may be difficult. That's where a good real estate consultant can help. Your RE Consultant will sift through all the listings, match them up with your remodeling abilities and know how to prepare offers and negotiate with banks. Your RE Consultant is invaluable when purchasing a Foreclosure.
For more information or a free consultation on how we can help you buy a Foreclosure or any other property call RSP Int'l Realty at 954-632-5514 or visit us on the web at http://RSPIRealty.com
The honest answer- maybe! Much depends on the stage of default the property is in. Pre-Foreclosure (owner is behind in payments) and Short Sales (owner owes more than the property can sell for) are often not resulting in a super great deal for the Buyer. In Pre-Foreclosures, the lender or lenders are usually not very eager to negotiate. They tend to prefer to work something out with the Owner. Short Sales are even more difficult. Basically you are asking to lender to give up money owed to them.
Foreclosures or REO(Real Estate Owned) properties are owned by the lender. These are where you may find your best deals. Once the Lender owns the property in their inventory, they become quite anxious to unload it quickly. With the right preparation and terms, often a really great price can be negotiated.
Foreclosures often need some work. Some will need everything from a new roof to walls - others will just need fresh paint and carpet. The Lender will NOT make any repairs - so be prepared to do the work yourself at your own expense. But, often with a little elbow grease, a few dollars spent at the local Home Depot and tenacity you can find a great deal in the Foreclosure Market.
Finding good Foreclosures may be difficult. That's where a good real estate consultant can help. Your RE Consultant will sift through all the listings, match them up with your remodeling abilities and know how to prepare offers and negotiate with banks. Your RE Consultant is invaluable when purchasing a Foreclosure.
For more information or a free consultation on how we can help you buy a Foreclosure or any other property call RSP Int'l Realty at 954-632-5514 or visit us on the web at http://RSPIRealty.com
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