Justin's Blog

Do You Need a Real Estate License to "Flip" Properties?

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 27 Jul 2007 13:09:48 -0500

You buy a property, you flip it, you profit. Does this require a real estate license? In most cases, the answer is "no".

Real estate brokerage is an activity regulated by states on their own terms, thus each state defines which activities require a license. There is a lot of vagueness and ambiguity in some of the state licensing codes, as well as "gray areas", which complicate the matter. Furthermore, if you vary the techniques and your business practices beyond the scope of what I teach in my course, it is not always clear how the state authorities might view your practices. Therefore, this discussion is limited to the simple activity of buying and flipping as follows:

Sign a contract with a seller, assign it to a third party

Sign a contract with a seller, sign another one with a third party, and then double close

A large majority of states use the "for another" language in their licensing statutes. The "for another" language means the law provides a laundry list of activities that require a license if you do it "for another."

Freddie Mac Home Possible Program

Justin Kaatz, CMP (ASAP Mortgage) — Thu, 26 Jul 2007 12:13:08 -0500

Effective recently, conforming lenders will accept loan submissions and locks for the Freddie Mac Home Possible program. Details for the program can be found at http://www.freddiemac.com/homepossible/ or you can check out the program matrix for the My Community and Home Possible programs on most rate sheets. You must be approved by Freddie Mac to utilize their Loan Prospector underwriting engine. You can visit their website at http://www.loanprospector.com/signup/ for details.

Personally, I think the Home Possible program is going to be a spitting image of what MyCommunity was earlier this year - a flexible 100% loan program with reduced MI and a 1pt hit to YSP.

Choosing a House that Fits You

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 13 Jul 2007 12:16:49 -0500

Choosing a House that Fits You

Amongst the many things to consider when buying a home, one of the most important and sometimes overlooked factors is the actual house itself. Don't forget this is going to be the place you go home to every night, the place your kids will grow up in and always remember.

Before you start looking at houses, you need to ask yourself what it is you want out of a house. How long do you plan on living in it? Will you be living there temporarily while you save up for a better one or will this be the house you retire in? How many people are going to live in it? Will it be housing the Brady Bunch or the Odd Couple? How old is the house? How big is the house? The yard? How expensive is the house? These are just a few questions you need to ask yourself before you start looking for potential houses.

And it's not just the house you need to consider either; it's the neighborhood. A house is always part of a neighborhood and, just like a house, you need to ask yourself what you want out of a neighborhood. If you have children, you'll want to look into the local public and private schools. How are the parks and trails? What condition is the neighborhood in now? What condition will the neighborhood be in years from now? Is the neighborhood safe? How close is it to the places you need to go? Figure out what you want and then go from there.

If you have any questions about the home buying process, please don't hesitate to ask. I can refer you to a trusted affiliate of mine who specializes in your real estate market. I want to make buying a home as pleasant and stress-free for you so that you can focus on the more important things: the house and the neighborhood.

The Dos and Don'ts of Buying a House

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 13 Jul 2007 11:58:33 -0500

The Dos and Don'ts of Home Buying

Do Shop Around - Don't just hold interest in one house, check out a handful. Find out about the neighborhood, traffic, schools, and local entertainment. Talk to the people that have lived in the neighborhood for some time and find out their opinions and biggest complaints. And remember that the lowest price isn't always the best deal and that some houses can be deceivingly cheap. It's better to do too much research than not enough; you'll thank yourself for years to come.

Do Get to Know Your Realtor - There's so much to know about real estate that you can't possibly know all the ins and outs of the industry. That's why your best strategy is to find a realtor whom you can trust. An experienced and trustworthy realtor will take the time to explain to you your options and walk through the entire home buying/selling process with you.

Don't Pay Too Much - This may be obvious but you don't have to sell your first born child to be able to afford a home. The price of your home depends on various factors like size, location and neighborhood. Every house is unique and has both positive and negative attributes, a skilled realtor will be able to come up with a specific home that fits your wants and needs but isn't going to cost you your first born.

Don't Rush into Things - This is your house we're talking about. Whether you're going to own it for three or thirty years, you want to make sure that you do everything right. I know you're in a hurry to move in, but don't sign the first deal you see; do your homework first.

The Dos and Don'ts of Selling Your House

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 13 Jul 2007 11:50:11 -0500

The Dos and Don'ts of Selling Your House

Do Shop Around - Don't consider moving unless you have already researched the market and are financially able to purchase the type of home you want. Research the homes in your local neighborhood to see what they are being sold for and take into consideration any major repairs, additions, or investments you put into the house. It's better to do too much research than not enough; you'll thank yourself for years to come.

Do Get to Know Your Realtor - There's so much to know about selling your home that you can't possibly know all the ins and outs of having an efficient plan to sell your house quickly. That's why your best strategy is to find a realtor whom you can trust. An experienced and trustworthy realtor will take the time to explain to you your options and walk you through the entire selling process to make sure you get the most from your prior residence.

Don't Settle Too Low - You're going to be bargaining over a desirable price with the buyer, but you want to make sure you don't lose money in the process. The price of your home depends on various factors like how much time you put into making the necessary repairs, how much effort you put into cleaning and organizing the interior and exterior. A skilled realtor will be able to come up with a specific plan to make your house desirable to all parties and get you a price you are happy with.

Don't Rush Into Things - This is your home we're talking about. No matter how much time you have, you want to make sure that you do everything right. I know you're in a hurry to sell your house, but don't accept the first offer you see; do your homework first.

Don't Believe Every Rate You See!

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 13 Jul 2007 10:44:53 -0500

Don't Believe Every Rate You See!

If you're a savvy consumer, I'm sure you've seen many nationally-branded companies advertising ridiculously low rates. (For example: Ditech, Quicken, etc) Despite the fact that rates have hovered near extraordinary lows for an extended period of time, many of the largest national lenders routinely tout rates that simply seem "too good to be true."

In fact, they are exactly that, at least for the overwhelming majority of borrowers. Certain nationally advertised companies also promote incredibly low closing-cost fees. Don't get sucked in, though, and don't believe the hype... these advertisements are, in fact, not credible at all.

The average consumer is typically not aware that these advertised rates and costs rarely, if ever, apply to their personal situation. Worse yet, after investing the time and energy into the loan process with one of these misleading lending institutions, consumers rarely realize the hidden fees, costs, and percentage points that they end up paying until it's virtually too late.

As a well-informed borrower, how then, can you avoid such pitfalls? Where can you find the truth???

First of all, you need to realize that every lending institution or mortgage company uses the same pool of lenders. In other words, a handful of entities control all the available money that can be borrowed, and the end result is that your refinance loan or purchase loan actually comes from the exact same source, no matter who actually provides you with that solution. So, if it's the same money, how can they charge so much less?

The answer is simple: THEY CAN'T. Many of these companies initially entice you with artificially deflated low rates and closing costs, only to "inform" you later that you actually don't "qualify" for that special promotion because you don't have a FICO score of 849.99. Or, you don't already own 85% of the equity in your home. Or, whatever...

By then, you've already invested a considerable amount of time and effort, and you want to get on with your life, so you just say "OK" and go along with their program. The result is that you actually could end up paying MORE, since you were on your own to evaluate the hundreds of programs that you may be available to you, and did not have an experienced professional really evaluate your personal situation and explain the best available options.

Your Real Estate Bill of Rights

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 09 Jul 2007 11:39:47 -0500

Dear Prospective Home Buyer,

Your Real Estate Bill of Rights

You deserve attention to detail and specific solutions to your specific needs
You deserve access to the most accurate information regarding your status at any given moment
You deserve impeccable customer service
You deserve to be treated fairly and with respect at all times
You deserve the best possible attention and all your wants and needs exceeded
You deserve professional consulting to accomplish your short term and long term objectives
You deserve flexible options
You deserve all the information necessary to make wise decisions
You deserve truthful and accurate information regarding your real estate options, fees, rates and the effects of each piece of the puzzle to make the best decision for you
You deserve a professional that will do whatever it takes to get the job done

As a professional realtor, you can trust that your bill of rights are the core philosophy of everyone at ASAP Mortgage.

Best regards and the opportunity to earn your business is appreciated,

ASAP Mortgage
http://www.asapmtg.net
866-276-9055

The 9 Things You Must Know Before You Buy

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 09 Jul 2007 11:30:52 -0500

The 9 things you must know before you buy
Before putting all you money into mortgage payments, please
consider the following 9 important issues. By considering
these important financial issues, you will be able to make
your payments work much harder for you.

1. Get pre-approved BEFORE you look for your new home
Of all the steps to do before you buy a home, the
pre-approval part is the easiest. One of it's benefits: It
will give you complete peace-of-mind while you are looking
for a home. The best part, it's usually free. Your local
lending institution can give you a written pre-approval with
no obligation on your part. Getting pre-approved means money
in the bank! Being pre-approved means that you have a
guarantee of obtaining a mortgage up to a specified level.

2. Know what level of monthly payments you are comfortable with
When you are discussing your pre-approved mortgage with
your lender or your lending institution, you will find out
up to which level you can borrow. You must also pre-assess
what amount of dollars you want to spend each month on your
home without getting uncomfortable. Your financial situation
could give you a higher level of pre-approval than what you
could feel comfortable paying each month. Once you have set
that amount, you will know the price range of the house that
you should be looking for.

3. Select the type of mortgage that will best suit you
Before you commit to a certain type of mortgage, there are a
number of questions you should be asking yourself. Mainly:
For how long do you think you will own your present house?
Are the interest rates going down or up? Will your earnings
change in the near future? Will that change have any
influence on your future payments? Once you know the answer
to these questions, you should be in a better position in
choosing the appropriate type of mortgage you should be
looking for.

4. Payment frequency options. Accelerated weekly and
bi-weekly periodic payments can save you thousands of
dollars in interests payments. If you plan your mortgage
periodic payments well, you will significantly lessen the
amount of interest that you will be charged over the term of
the loan.
The best trick is the accelerated bi-weekly mortgage payment
system. You pay every second week half the amount of what
should have been your monthly mortgage payments. By using
this system, at the end of the year you will have paid the
equivalent of 13 monthly payments.
Note: Not all mortgages are of the accelerated bi-weekly type.

5. Authorized pre-payment
Another system that can greatly reduce the total interest
amount you will have to pay is the authorized pre-payment
system. By paying off a certain percentage of your mortgage,
or by increasing the amount that you pay monthly will
greatly reduce your mortgage costs. By using an authorized
pre-payment system you can have a major impact on the number
of years you will have to pay your mortgage.
Note: Not every mortgage has the prepayment option built in.

6. Portable mortgage
A portable mortgage permits you to use the same mortgage
when you purchase your next property. Basically, under
certain conditions, the lender will authorize you to change
home mortgages without any penalties and without having to
go through the entire mortgage process again.

7. Assumable mortgage
An assumable mortgage is a mortgage that you can transfer to
the buyer of your house. It is a very rare type of mortgage,
but a very powerful selling point for your buyer.
Furthermore, this type of mortgage comes without any
penalties if it is assumed.

8. Work with a financial expert
Before you choose your mortgage type, the lender or the
lending institution, get the insight of a professional. Ask
a mortgage specialist. A mortgage specialist will usually
answer your questions at no cost or obligation and, if you
do use his or her services, you will probably get your
mortgage faster and with better conditions than if you
didn't.

9. It's usually better to choose a good house instead of a good deal
Here is an example. In 2004, two houses were sold. One for
$320,000 and the other for $610,000. One was at a major road
and the other one, not far from it, in a reasonably quiet
street. Both houses were purchased by respective owners
around 1982. The one at a major road was paid around $70,000
while the other was paid around $90,000. The owner of the
later home not only got higher appreciation from his house,
he also enjoyed a quieter life for 22 years.

The 10 Biggest Mistakes When Refinancing

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 09 Jul 2007 11:17:51 -0500

The 10 biggest mistakes when refinancing

1. The new interest rate does not justify the refinancing
Before you go ahead and refinance your mortgage, you have to make sure that the change will save enough to justify the whole process of refinancing. As a rule, if the interest rate does not decrease by at least .0075 (.75 %) to .01 (1%) then refinancing is probably not a good move.

2. Not knowing your real closing costs
Closing your mortgage is usually a charged service. By law (in the United States), closing costs must be disclosed within 3 working days of the loan application. Each lender has his own way of calculating the closing costs. Initially, your closing cost are an estimate. However, once your specific loan details are known, the closing costs are no more a mystery. Use the worst case scenario, if you still make a profit with that scenario, and if your new interest rate justifies it, you can consider refinancing.

3. Knowing why you are refinancing
A lot of people refinance just to reduce their interest rate. This is not always at your advantage. You have to make sure that you recoup all the costs that are involved in the refinancing operation. Some other reasons might force you to refinance. One of them might be debt consolidation, another one home improvements, or another large purchase. Some of these options may offer you some other financial advantages or personal advantages, like using some cash to purchase a car. In some cases you may be able to deduct some of the interest charges on your tax return. Any big decision like this one should always be preceded by a consultation with an expert (accountant or tax attorney).

4. Only listening to the APR advertising
The Annual Percentage Rate (APR) is not everything. Very often brokers will use the APR as a "teaser". This will get your attention, but the refinancing could cost your more than what's advertised. Such low rates are usually calculated by using a 30 year mortgage loan together with an accelerated bi-weekly mortgage plan. Very often, lenders will let you, AT NO EXTRA CHARGE, select an accelerated bi-weekly mortgage plan. Make sure you know all the facts before you start any refinancing.

5. Not knowing the mortgage broker's plan details
It's simple, you want to do your refinancing in the shortest amount of time and with as little hassle as possible. Ask your mortgage broker if he has performance guarantees and service plans. If he does, make sure your mortgage broker offers the quality of service you need.

6. Not knowing the broker's products
If you don't ask, you won't get. If all the mortgage brokers were equally created, you wouldn't have to, but it's not the case. You have to know what your broker has to offer you, what loan products are available, the terms and the rates. Sometimes, just what looks like a subtle difference, could save you (or cost you) thousands of dollars.

7. Failure to examine your credit problems
The majority of people have no idea what type of credit they have or how to repair any unfavorable credit which may exist. They fail to realize that credit is one of the key factors in refinancing a current mortgage. Credit problems not only bring down to a crawl the process of getting a loan, but can damage your ability to make numerous other purchases.

8. Not knowing how much money a lender is willing to loan you
If you are planning on refinancing your home, you must be aware that most lenders have strict guidelines on how much money they are willing to lend. The lender's decision is usually based on your loan-to-value ratio. In other words, mortgage lenders have limits on how much money you can borrow based on the value of your house.

9. Failure to find a reputable and experienced mortgage lender
You must associate yourself with a honest, high quality, and service-oriented mortgage lender. This is probably the most important ingredient in finding good home refinancing. Dealing with the right lender can mean the difference between having your loan refinancing approved or rejected.

10. Lying to your mortgage lender
There is nothing like the truth. If you already owe too much, refinancing might not be the best move. Be ready to give all the information the mortgage broker requests (income tax information, credit card balances, other loans, current mortgages, etc.)

10 House Buyer Traps and How to Avoid Them

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 09 Jul 2007 11:05:11 -0500

10 House buyer traps and how to avoid them

Trusting tax assessments

Some people think that tax assessments are a way of
evaluating a home. The difficulty here is that assessments
are based on a number of criteria that may not be related to
property values, so they may not necessarily reflect the
home's true value.
Bidding without knowing

What price should you offer when you bid on a house? Is the
seller's asking price too high? Are in front of a real deal?
Before making one the biggest purchases of a lifetime, you
should take a very close look at the real estate market in
the area you're a thinking of purchasing. Without the
knowledge of the real market value of the houses you intend
to visit, and ultimately purchase, your are more than likely
to make a blind bid.
Getting the wrong house

Simple questions, like what do you want in a house, can have
pretty complex answers. A lot of buyers get all excited at
the prospect of finally owning their house. So excited and
emotional, that sometimes they end up being the owner of a
house that does not answer their needs. The house may be too
big, or too small, or it's too far from work, or what looked
like just a few small renovations is much more then
expected. Take time now, before the buying process, and
define what you really want in your house. Write it down.
Unclear house title

As soon as you start negotiating your new home, make sure
that it is free and clear by having a title search done. One
of the last things you want to learn later in the process is
that there are taxes, leases or other liens on the property
you are about to own.
Incorrect survey

When you make your offer to purchase, you have to make sure
you request an up to date property survey that defines very
clearly the boundaries of the property. You never know what
type of changes may have occurred since the last survey
(i.e. swimming pool, extension to the house, fence, etc.)
Surprise fix-ups

You just can't expect every seller to sell their home in
perfect condition. Remember the old saying: Buyer beware!
You have to ensure that a complete inspection of the house
is done before you sign anything. Or if you do sign, make
sure it is conditional to your entire satisfaction after a
house inspection. An independent inspector will check the
house inside and out and give you a report outlining the
items that needs to be fixed with the associated costs.
No pre-approval

You're not pre-approved! What are you waiting for! It's
fast, it's free, and it's easy. Once you have a pre-approved
mortgage, your house shopping is much easier. You will feel
free and secure because you will know that the money you
need to purchase your deam house will be there when you need
it.
Seller neglect

If the home seller fails to do some repairs or to comply to
any part of the purchase contract you will feel very
frustrated. One way to avoid this is to agree, in the
purchase contract, to put a fixed amount of money in an
escrow fund that will cover the items the seller was
supposed to attend to.
Hidden charges

Before you make your offer, make sure you made a list of all
the costs associated with the purchase. The typical
"forgotten" cost is usually a forgotten loan disbursement
charge of some sort of underwriting fee. One way to avoid
any hidden charges is to have the lender give you the total
charges in writing.
Close too fast

This is a critical part of the whole buying process. Take
your time, read all the paperwork a day or two before you
sign. Have a lawyer go through it and make absolutely sure
that all the paperwork reflects the transaction your are
about to do. Double check everyt hing, it's the best way to
avoid a forgotten clause or to notice, too late, that
something has been added or subtracted. If there is a
problem, you will have a hours to solve it before the
closing day.

Purchasing a Home and Your Credit

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 09 Jul 2007 10:32:03 -0500

Purchasing a Home and Your Credit

In a nutshell, credit scoring is a statistical method of assessing the credit risk of a loan applicant that is used by most mortgage companies in helping to determine what loan program an applicant qualifies for. The score is a number that rates the likelihood an individual will pay back a loan. The score looks at the following items: past delinquencies, derogatory payment behavior, current debt level, length of credit history, types of credit, as well as the number of recent inquiries into your credit.

The three general categories of credit scoring:

First, a borrower with a score 680 and above may be considered an A+ loan. Borrowers falling into this category may have a good chance to obtain a lower rate of interest and close their loan in a relatively short amount of time.
Second, a score below 680 but above 620 may indicate underwriters will take a closer look at the file in determining potential risks. Supplemental credit documentation and letters of explanation may be required before an underwriting decision is made which could lead to a longer evaluation time before the loan is closed.
Third, borrowers with a score below 620 may find themselves locked out of the best loan rates and terms offered. As a borrower you may need to look into sub prime or other alternative loan programs with your mortgage broker, and it may take some time before a suitable funding source is located.

Reviewing and Correcting Your Credit

Whichever mortgage broker you decide to work with, you should be able to receive a free copy of your credit report from them to review and check for any errors. You have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file. When a credit reporting agency receives a dispute, it must reinvestigate and record the current status of the disputed items within a "reasonable period of time," unless it believes the dispute is "frivolous or irrelevant." If the credit reporting agency cannot verify a disputed item, it must delete it. If your report contains erroneous information, the credit reporting agency must correct it. If an item is incomplete, the credit reporting agency must complete it.

If you have had credit problems, be prepared to discuss them honestly with your mortgage professional and come to your application meeting with any necessary written explanations. Responsible mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties. They are there to help you get your home.

New Home Buying Rebate Program

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 02 Jul 2007 10:47:19 -0500

New Home Buying Rebate Program

Kissimmee, FL, May 26, 2007 - BuyersMarketRebates.com, a Florida-based real estate purchase-consulting firm, has announced that it will begin serving real estate buyers in the south and southeast.

Deploying a similar concept as that of Redfin.com (recently featured on 60 minutes as a seller-side rebate provider), BMR will be assisting homebuyers in their new purchase while providing direct cash rebates equal to...

Now is a Great Time to Create Instant Equity

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 25 Jun 2007 17:03:42 -0500

Now is a Great Time to Create Instant Equity

Sub-prime lending woes in the housing market are creating more opportunities for investors to negotiate with the banks.

Banks have more properties on hand (from foreclosures and short-sales) and want toliquidate the properties as quickly as possible. Sometimes the banks are selling at 10-20% below market value. For example, you might be able to negotiate a $120K property down to $96K (20% below market value).

Read More...

Orlando, FL - An International Business Center

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 25 Jun 2007 16:59:52 -0500

Orlando, FL - An International Business Center

Orlando, the eighth largest housing market in the U.S. has been performing extraordinarily well over the last year, with excellent job growth and low unemployment. Orlando, FL experienced double digit appreciation in 2006 at 11.67. (The national average annual appreciaton rate as of December 31, 2006 was 5.87%.) It is a strong market for investors.

Real Estate Internet Auctions ...Gaining Momentum

Justin Kaatz, CMP (ASAP Mortgage) — Mon, 25 Jun 2007 16:58:17 -0500

Real Estate Internet Auctions ...Gaining Momentum

Before the Internet, real estate agents controlled real estate listings. The only way a buyer could find homes for sale was by relying on an agent, looking through the local newspapers or by driving around neighborhoods. All of these methods took time and considerable effort.

The Internet has changed the market and now about 80% of buyers begin their home search online.

When Credit is Tight - How Do You Get the Best Loan

Justin Kaatz, CMP (ASAP Mortgage) — Tue, 19 Jun 2007 14:19:10 -0500

When Credit is Tight - How Do You Get the Best loan

Now more than ever it pays to be a prime borrower - here's how to be that guy.

Just as housing prices stall, lenders are making it tougher to borrow. A recent report from the Federal Reserve shows that 15 percent of U.S. banks began tightening credit standards at the end of 2006 - the most since the early 1990s.

Since then, the belt-tightening has only accelerated as lenders worry about a slowdown in home price growth and borrowers' ability to repay their loans.

Excellent Investment Opportunities (Mississippi Coast)

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 15 Jun 2007 11:10:47 -0500

Excellent Investment Opportunities (Mississippi Coast)

The Mississippi Gulf Coast is increasingly popular with investors and SimplySOLD® Viking Realty has been helping hundreds of investors find properties that are cash flowing while appreciating.

"No other market in the country is doing what ours is now", said Damion Flynn, Broker/Owner of the Gulfport-based office who continued to state that "Our rental market is excellent. Because of...

More Than 430,000 Foreclosure Filings Reported in Q1

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 15 Jun 2007 11:06:50 -0500

More Than 430,000 Foreclosure Filings Reported in Q1

U.S. Foreclosure Activity Up 27 Percent From Previous Quarter

More than 430,000 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported nationwide during the first three months of 2007, up 27 percent from the previous quarter and up 35 percent from the first quarter of 2006. The nation's quarterly foreclosure rate of...

Get Detailed Research for Markets Around the U.S.

Justin Kaatz, CMP (ASAP Mortgage) — Tue, 12 Jun 2007 12:46:01 -0500

Get Detailed Research for Markets Around the U.S.

Set Up Your FREE Membership account today and:

Find top appreciation areas so your portfolio continues growing today
Choose locations for maximum cash flow to cover debt service and increase income
Monitor population & migration movement to diversify wisely
Research vacancy ...

Salt Lake City, UT - Ranked Number Three in Appreciation

Salt Lake City, UT ranked number three for appreciation in 2007 with 19.12%. Price appreciation coupled with increasing rents and limited land available to build on means long-term growth potential throughout the area. Real estate prices in and around the city are some of the best values in the country. Salt Lake City continues to be very strong in the housing market, recently ranked 4th in the nation in housing growth.

A View From Above

Justin Kaatz, CMP (ASAP Mortgage) — Tue, 12 Jun 2007 12:43:02 -0500

A View From Above

RealtyTrac recently integrated overhead property photos into its foreclosure search results and property details pages, allowing members to quickly see what a property looks like - from all four sides - while browsing the website's nationwide database of default, auction and bank-owned real estate.

Real Estate Auctions - An Effective Way to Sell

Right now, it's a buyer's market. Buyers have lots of properties to choose from and sellers are looking for a way to stand out. It's not a surprise that more sellers are turning to auctions for help.

Buying Short Sales

Justin Kaatz, CMP (ASAP Mortgage) — Wed, 23 May 2007 11:02:18 -0500

Tips for Buying Short Sales from the Lender

With more and more sellers unloading their homes for less than what they owe on their mortgages, now is a good time for investors to start negotiating "short sales" with lenders. You can find good deals with short sales as long as you...

2007 First Quarter Update

Justin Kaatz, CMP (ASAP Mortgage) — Fri, 18 May 2007 17:17:09 -0500

2007 First Quarter Update

Condo Hotels from $169,900 and within one mile of Disneyworld!

Condo Hotels are the newest trend in Vacation Home Ownership. Each Condo Hotel unit is deed and titled real estate which allows owners all the benefits expected from a vacation home and more. It's the best of both worlds....

Learn More...

MyPropertyWealth.com's New Homepage

Justin Kaatz, CMP (ASAP Mortgage) — Wed, 16 May 2007 15:53:06 -0500

New Home Page - Easier To Use With More Information

Just launched!

The new home page is easier to navigate and gets you to the site's many topics much faster. MyPropertyWealth.com is committed to bringing the benefits of major news websites like Yahoo News, MSN and Fox News to the world of real estate investing.

The home page features:

What areas to invest in
Up to date statistical information
Projects and property opportunities
Investing news articles
New educational topics
Investing tools
Many quick links right from the home page
Much more

The articles will change out daily, helping to keep you well informed throughout the week. It will also feature plenty of quick links taking you directly to the hundreds of pages found on MyPropertyWealth.com. Our intention is to make it easier for you to access the information you need to make smart Real Estate investing decisions. They are committed to being "Your Smart Investing Resource!

See it now...

Taking Cash Out of a 1031 Exchange

Justin Kaatz, CMP (ASAP Mortgage) — Wed, 16 May 2007 15:45:50 -0500

Taking Cash Out of a 1031 Exchange

Last month, MyPropertyWealth.com wrote an article about the reinvestment rules of a 1031 exchange. To pay zero tax in an exchange you must buy equal or up, and you must reinvest all of the cash. But what happens if you want or need some of the cash from your exchange? What are the rules you...

Financing for Investment Properties

Justin Kaatz, CMP (ASAP Mortgage) — Wed, 16 May 2007 15:24:02 -0500

Financing for Investment Properties

There are many factors that a lender will assess in determining whether to loan to an individual or on a particular property. The lending industry has changed rapidly over the last ten years. In the past in order to purchase investment property a borrower needed a substantial down payment. That is no longer the