housing: Introspective on a Deal Lost!
- 05/29/09 03:32 AM
I recently lost an investment deal over $500.00. Looking back on the negotiations, I realized I have become accustomed to the low prices this market has afforded. A few months back I wrote a blog about a home our company had listed for $89,000.00 and we made a short sale offer of $58,000.00. The bank turned it down and through the REO process we were able to buy the home for $17,000.00. We recently finished the rehab for $13,000.00 and now have a completely redone home for $30,000.00 that will rent for $850 - $900. The property I recently lost was … (1 comments)
housing: $8000 First Time Homebuyer IRS Tax Credit Explained
- 04/19/09 12:33 PM
Found this short video on youtube that helps explain the $8000 first time homebuyer credit. I found it to be very helpful in determing whether or not my buyers would qualify and preparing the paperwork of those that do. Hope this helps. http://www.youtube.com/watch?v=suiAfys53aU Christopher McClatchey 321.453.2300 - Telephone 321.985.0270 - Fax Visit My Website: www.housingmarketrealty.com Join My Blog: http://activerain.com/cashflowinvestor Visit Me at Linkedin: www.linkedin.com/in/chrismcclatchey Alternate Email: chris@thmllc.com Investment Website: www.thmllc.com … (1 comments)
housing: Key to Getting Your REO Offers Accepted (or Just Noticed)
- 03/11/09 01:59 PM
For those of you who have been following my blog, you will recall that I am of the opinion that the Investor Market has significantly increased. We have been in multiple offers countless times, we have lost contracts despite bidding over list price and we quite frankly have lost contracts by being untimely. (i.e. not fast enough) We have recently evaluated our systems and made an important discovery, we didn't really know the REO agents and they really didn't know who we were. As a result we made a concerted effort to make contact with a few of the bigger REO … (2 comments)
housing: UPDATE! To Stock Market Woes, Brevard County Real Estate Goes!
- 03/09/09 01:24 PM
Last week I commented on the fact that my company (THM Investments) had placed on "over list price" offer on a property in Brevard County, Florida and lost the deal. I believe that the real estate market is picking back up because of how poorly the stock market is performing. My analysis is not based on this one deal, but on the fact that most of our offers are becoming multiple offer situations. Sometimes as many as five or six offers at a time. So why am I repeating myself. I'm glad you asked. Today we placed an offer on a … (0 comments)
housing: With the Stock Market Woes, Brevard County Real Estate Goes!
- 03/05/09 11:57 AM
I actually lost a deal today to another investor. The ironic part of it was that my offer was MORE than the List Price. That's right, MORE than the List Price. This seems to be more and more of a trend in Brevard County (near Cocoa Beach about 45 min. East of Orlando). We are seeing resistance points in the market. My analysis (admittedly not scientific) seems to be that the more the stock market falls, the more investors are flocking back into real estate. We are seeing multiple offer situations continuously on these properties. One property even had 6 offers on … (2 comments)
housing: Wholesale/Cash Flow Deal - Brevard County, Florida (near Cocoa Beach)
- 02/26/09 01:39 PM
Port St. John Wholesale Deal 6463 Hudson Ave, Port St. John 3 Bedroom / 2 Bath / 2 Car Garage 1268 Sq Ft. Built 1990 (Sales Price in 1990 $63k) Last Sale $182k (9/05) Transferable Termite Bond Included Minor Repairs Needed (for rental ready) Rent Range - $800-$1000 Asking $62,500 + closing costs VIDEO: http://www.youtube.com/watch?v=ML01INk8ILs PICTURES : http://www.thmllc.com/wholesale.html … (0 comments)
housing: I'm Actually Starting to Feel Sorry for the Banks!
- 02/26/09 12:58 PM
I know. Can you believe I said that. I can't. But here are some reasons my beliefs are changing. The Court Systems are so back logged with Foreclosure cases right now that it will typically take between 12 and 18 months to get back the property. Yes, in Brevard County Florida, that means that the homeowner can actually live free of charge for over a year. Furthermore, the banks are usually getting an asset worth 50% of what the homeowner borrowed on the property. In addition, the asset is continuing to become devalued over this period of time. What's worse is that now there is an attorney in … (5 comments)
housing: Housing Market Realty Going Green, Owner Drive Veggie Car
- 01/25/09 10:09 AM
In an effort to promote a more "green" awareness for our industry, Housing Market Realty in Cocoa, Florida has tried to make a statement to its clients and colleagues. Although we have tried to do a number of things to become more green, we are seeking advice on additional ways to be more environmentally friendly. Here are some of the ways we are becoming more green. Please use these ways and advise on some other ways if you could. 1. We are a "Cell Phone for Soldiers" drop off point. - These are old cell phones that get re-used by our troops 2. We are virtually paperless. We are … (2 comments)
I recently lost an investment deal over $500.00. Looking back on the negotiations, I realized I have become accustomed to the low prices this market has afforded. A few months back I wrote a blog about a home our company had listed for $89,000.00 and we made a short sale offer of $58,000.00. The bank turned it down and through the REO process we were able to buy the home for $17,000.00. We recently finished the rehab for $13,000.00 and now have a completely redone home for $30,000.00 that will rent for $850 - $900. 
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