themoneytreincom: Are Foreclosues Considered True Comparables?
- 04/19/08 11:54 AM
It depends. Simply because a property sells does not make it a comparable. Often a duress sale doesn't accurately reflect true market conditions, such as a foreclosure, short sale, estate settlement, tax sale, divorce, condemnation or other involuntary sale conditions. Professional appraisers use a standard called "arm's length." To qualify, the buyer or seller must not be related to each other or have common interests-they have each other at "arm's length"-that establish a fair market value. In a "non-arm's length" transaction, the relation-ship between the parties may cause one or the other to accept less than they are entitled to or … (2 comments)
themoneytreincom: Smaller Floor Plans in Big Demand
- 04/15/08 05:46 AM
American's appetite for big homes and over-sized furniture appears to be shrinking.New-home buyers began asking builder KB Home for smaller floor plans right after the collapse in subprime lending last year, says CEO Jeffrey Mezger.The demand for a huge, high-ceilinged great room is giving way to the desire for special-purpose rooms, including media rooms and home offices, says a spokesman for luxury specialist Pulte Homes.In three of its four new sofa collections, Younger Furniture is offering "apartment size" sofas, which are about 10 inches shorter than full-sized ones. Citing a trend toward smaller homes, Rowe Fine Furniture says it expects its … (0 comments)
themoneytreincom: Are REO's worth it?
- 04/10/08 02:32 AM
Buying bank owned propertiesThere is a lot of interest in buying bank owned properties these days. A lot of information, some good and some bad, is floating around about the subject. Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know "the secret formula". The fact is that there are no secrets, and to make money does require effort. What's an REO?REO stands for "Real Estate Owned". These are properties that have gone through foreclosure and are now owned by the bank or mortgage company. This is not … (0 comments)
themoneytreincom: Still time for a great opportunity in the GO ZONE
- 04/06/08 02:44 PM
The U.S. Senate approved a measure Friday to extend the Gulf Opportunity Zone Act, giving new hope that lucrative tax incentives to build condos, apartments and businesses will last a few more years.U.S. Sen. Roger Wicker added an amendment to a housing bill, and his addition passed 74-5. U.S. Sen. Thad Cochran co-sponsored the bill. The new GO Zone plan would give tax breaks to builders of apartments, condos and businesses only in Hancock, Harrison, Jackson, Pearl River and Stone counties. When it passed just after Hurricane Katrina in 2005, the legislation had incentives for nearly 50 Mississippi counties but those are … (0 comments)
themoneytreincom: GO Zone Post
- 03/18/08 09:09 AM
The opportunity for good projects are few and far between. The GO Zone provides one such opportunity for investors and realtors alike to actually create a portfolio that makes sense. No going through the lengthy process of finding a viable short sale or foreclosure, no relying on a big builder discount. Here is an opportunity that makes sense for all parties, and most of all helps a community rebuild. Get in the zone-The GO Zone - Get more free documents … (0 comments)
themoneytreincom: GO Zone for the ordinary person
- 02/29/08 05:42 AM
You can fing groups posting, blogging, webinars, seminars, e-campaigns, tours, rallies, media blitzes, faxes, carrier pigeons, smoke signals, drums, intelligence briefings, and virtually any other king of media summit all talking about the "GO Zone". But does it make sense to the average person? The IRS has all kinds of incentives and tax breaks such as bigger education credits, extended tax deadliines, bigger charitable giving deductions, and much more. But... the one that you as a real estate investor should pay attention to is the whopping bonus 50% depreciation allowance for investors purchasing property (not just real estate) after August 27, 2005. As … (0 comments)
themoneytreincom: Gulf coast crisis presents opportunity
- 02/25/08 12:34 PM
So does anyone think that a need doesn't exist along the Mississippi gulf coast for housing? Take a look at an excerpt of this months article from The Journal; "The state of Mississippi has determined that there are still 40,000 homes to be rebuilt in order to bring its six southernmost counties up to their pre-Katrina count. Based on a (2005) pre-Katrina population of 445,375 individuals in the six coastal counties of Pearl River, Hancock, Stone, Harrison, George and Jackson, this figure places the number of standing homes before Katrina at about 110,000. State estimates indicate that 2_ years later, the 40,000 are … (0 comments)
It depends. Simply because a property sells does not make it a comparable. Often a duress sale doesn't accurately reflect true market conditions, such as a foreclosure, short sale, estate settlement, tax sale, divorce, condemnation or other involuntary sale conditions. Professional appraisers use a standard called "arm's length." To qualify, the buyer or seller must not be related to each other or have common interests-they have each other at "arm's length"-that establish a fair market value. In a "non-arm's length" transaction, the relation-ship between the parties may cause one or the other to accept less than they are entitled to or … (2 comments)
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