Rental properties of one to four units are both a good choice for many of today's investors, and a good area of specialization for many of today's real estate professionals.

Why rental properties? For one thing, a growing number of people will seek out new places to live, and an increasingly attractive choice will be renting. In fact, vacancy rates have already begun to ease. A recent study cited by The Wall Street Journal reported that apartment rents rose in the first quarter of 2010 after five straight quarters of declines.

In the past, investors bought rental properties based on the reasonable expectation that their market value would rise along with rents, and that they could take advantage of tax benefitsl.

In addition to tax advantages, investors have been able to realize a positive cash flow early in the process. In fact, in many markets, it may be possible to structure transactions that provide an immediate positive cash flow. This is not always the case, of course, and investors will benefit greatly from professional guidance.

For investers who like a hands on experience, operating rental properties can prove to be a satisfying experience. The more work the investor is willing to do for himself or herself, from painting interior walls when tenants move on, to handling the books, the higher the profits will be

I am doing a Open House in Orange County, Cal in the city Orange. The address is 6209 E. Bryce Ave, this is near Villa Park/ Orange Park Acres bordor. It will be Sunday April 25th from 1:00pm to 4:00pm.

There is a new website you have to see for a  estimated value for your home in todays changing market. Unlike some of the others, it uses real and current home value information. Go to LaHabraHomeValues.com and see it in action. Click on the Home value button and the rest is easy.

Did anyone see that USA-Canada men's or women's hockey game? This is why I love the Olympic's to watch games that have so much excitment and wow to them. Let me know if you watched it and what you think.

I just wanted to let my fellow agants know that we love doing short sales for Wachovia. Wachovia has make their process so streamline and enjoyable to do. Their Fast Track request form speeds up the whole process as well as having a short sale contact person that actually will pick up the phone or send you a email in a very timely manner. I hope all of the other lending institutions take note on how Wachovia is working with the Real Estate agents to get their properties sold.

Cheryl and I have piggy backed on the Winter Olympics. We are running a contest for our farm to guess how many metals th U.S. will get this year. As a tie breaker they have to guess how many Gold metals the U.S. will get. The need to email us there answers with their name. So we get there name and email for future marketing items.

Like many of us in real estate, the term buyers are liars was a mantra in 2009. Over the last 6 weeks we have seen a change of perception of a buyer. We have met and represented many buyers since the new year and have found them to be more realistic and comitted to buying a home. I hope this trend continues for the rest of the year. Let me know how buyers are thinking in your areas?

Cheryl and I put on a Home Run Derby for our cities Little League every year for the last 5 years. This a very inexpensive way to market yourself. We make a party of it with a DJ and some Metals for the kids in each bracket. The parents have to sign up the kids so we get emails and names and phone numbers with no hassles. We add them to our data base and we have gotten not only our name and facial recognition, but several deals form it.

Two hunters (Realtors from California) got a pilot to fly them to the Canadian wilderness to hunt moose.  They manage to get two big bull moose.  As they were loading the plane to return, the pilot said the plane could only take the hunters, their gear and one moose.  The two hunters objected strongly.  "Last year we shot two.  The pilot let us take both and he had the same plane as yours."  Reluctantly, the pilot (who happened to be an ex-mortgage banker and not wanting to be outdone by another pilot) gave in and everything was loaded.  However, even on full power, the little plane couldn't handle the load and went down crashing in the woods.  Somehow, surrounded by the moose, clothing and sleeping bags, George and Mike survived the crash.  After climbing out of the wreckage, George asked Mike, "any idea where we are?" Mike replied, "I think we're pretty close to where we crashed last year".

FHA Short Sales and Short Payoffs

Borrowers that were in default at the time of the short sale (or pre-foreclosure sale) of their previously owned primary residence are not eligible for a new FHA loan for three years from the date of the pre-foreclosure sale.   This means, that buyers wanting to purchase a similar or superior property within a reasonable commuting distance will not be able to obtain a new FHA loan.
Borrowers are considered eligible for a new FHA loan if they were current on their mortgage and other installment debts at the time of the short sale of their previously owned property, and the proceeds from the short sale serve as payment in full.