foreclosures: Its time to buy!
- 02/26/09 04:58 AM
I cant believe the great buys out there on homes. With the foreclosures,short sales, low interest rates and the $8000 tax credit to qualified buyers now is the time to purchase a home.I myself will be buying a few multi-families this year and renting them till the market comes back up and then sell and reinvest. To all those on the fench about buying the longer you wait the more oportunities you may miss! One of my clients just bought a three unit and is seeing a positive cah flow of $1000 per month. Just think if he buys 9 more? … (1 comments)
foreclosures: Buying a foreclosure
- 01/18/09 01:09 PM
When purchasing a foreclosure be sure to have a knowledgeable Realtor and loan officer working with you. If you are not paying cash and going with a FHA backed mortgage there are a few issues you will encounter. First, the banks have the homes winterized which means the water and heat is shut off and the pipes have anti-freeze so they don't freeze. The buyer is responsible to have the home dewinterized in order to have the systems inspected.If the buyer chooses not to go through with the purchase they are responsible to have it re-winterized costing anywhere from $300-$500. Bank owned … (1 comments)
foreclosures: Spread the news!
- 12/29/08 07:26 AM
Tell all your friends! Now is the time to buy real estate in Rhode Island! Multi units are at prices where there is positive cash flow. Foreclosures have brought single family prices in Providence to under $100K in some areas. Short sales are a great buy also! Most buyers can own for less than they are paying rent if they can quality for a mortgage. I know this is the hard part but many lenders have credit repair programs and FHA with 3% down. Plus interest rates are low too! With all the negative press out there Im telling everyone I … (2 comments)
foreclosures: Single Family prices
- 11/24/08 07:08 AM
Single family prices are at a 4 year low in Rhode Island. Now is a great time to buy. How do you feel about whats going on in the market? … (9 comments)
I cant believe the great buys out there on homes. With the foreclosures,short sales, low interest rates and the $8000 tax credit to qualified buyers now is the time to purchase a home.I myself will be buying a few multi-families this year and renting them till the market comes back up and then sell and reinvest. To all those on the fench about buying the longer you wait the more oportunities you may miss! One of my clients just bought a three unit and is seeing a positive cah flow of $1000 per month. Just think if he buys 9 more?;)
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