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foreclosures: Are you sure you want to buy "THAT" investment property? - 02/24/09 06:04 AM
     When I first got in the business a little over six years ago, it was hard (but not impossible) to find an insurance company who would insure a home with knob-and-tube wiring.  Well now, it's really hard to find that same coverage.  Since I've been licensed, I've seen that same change in coverage concerning fuses vs. breakers.  You can find the coverage, but now it's becoming less and less available.  The change that I am starting to see now, is one that scares me quite a bit more than the other two.  The issue--insurance companies not providing insurance on investment properties … (2 comments)

foreclosures: For the Sellers out there: Short-sale vs. Foreclosure - 10/17/08 04:41 AM
This is the most difficult market the real estate industry has seen in almost the last 20 years.  Families who made an investment in their homes are now finding that for verying reasons not only are they unable to pay their mortgage, but they aren't even able to sell their homes for what they owe.  Whether it's the common theme of an increased mortgage payment or other reasons like relocation or divorce, some families feeling like there is no other choice, just pack their bags and walk away from their home and let it be foreclosed on.  This dibilitating choice ruins a persons credit … (1 comments)

foreclosures: Protecting your Buyers & Yourself: Bank "Trick" #4 - 10/16/08 07:35 AM
I was in shock when I read this most recent addition to a contract with a bank addendum because it essentially gave the bank carte-blanche over the P&S.
Article 15.  The Seller reserves the right to terminate the Contract for any reason in its sole discretion.  Should the Seller terminate this contract, the Seller's sole liability to the Buyer will be to return the Buyer's deposit, at which time the Contract and all addendums thereto shall cease and terminate and Seller and Buyer shall have no further obligations, liabilities, or responsibilities to one another.
In the dozens of addendums I've had the opportunity to … (13 comments)

foreclosures: Protecting your Buyers & Yourself: Bank "Trick" #3 - 10/16/08 07:02 AM
With the current economy the way it is right now and foreclosures rolling into the market in waves, I'm sure many of my fellow agents have seen this clause already, but buyers may not have.  The importance being, make sure you disclose the following clause to your buyers and the lender they are working with so all parties understand the timetable they are bound by.
Article 10.  (Which can vary) Buyer(s) may take possession after the final closing papers are signed by the Seller and the Contract is funded.  Possession to the property may not be taken before the occurrence of both … (4 comments)

foreclosures: Protecting your buyers: Title Insurance - 03/09/08 10:35 AM
     With the massive influx of both short-sale and foreclosure inventory on the market, title insurance is needed more than ever.  I sold a 3yr old foreclosed home back at Christmas to some really good friends of mine.  A 3 bedroom 3 bathroom cape with 1 car garage under and finished basement on 3/4 acre at the phenomenal price of $175,000.  They were truly exited, as was I for them. 
     They called me on Friday to tell me they received a DEMAND FOR PAYMENT IN FULL FROM THEIR MORTGAGE COMPANY because the town had notified the mortgage company that improvements … (3 comments)

foreclosures: Need Help With Short-sales? - 03/07/08 05:25 AM
     I've been selling real estate going on six years now and the market is certainly different now than when I first got into it.  Setting the market aside, I think we agents need to grow and conform to the both the needs of our clients and the market itself.  We are in the middle of what is arguably the worst market in the last decade,  yet I am having my best month ever and there's no end in sight.  My business is littered right now with both buyers and sellers involved in short-sales and foreclosures.  When I first started working … (4 comments)

 
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Joshua Matthews

Wakefield, NH

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Keller Williams Coastal Realty

Address: 501 Islington Street Suite 2, Portsmouth, NH, 03801

Office Phone: (603) 610-8500 x 576

Cell Phone: (603) 781-4030

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