lenders: REAL ESTATE MOVIE 99 HOMES (gut wrench)
- 08/14/16 12:01 AM
I came across a movie called 99 Homes and when I read the synopsis, decided to give it a go. It is about the Real Estate business and of course only those that are in it can really know if it is on track or not. The same with doctors, police and scientists too. When they watch their movies, they know real from Hollywood hype. Real is upon you here...
REMEMBER THE CRASH?
It takes us back to the most recent time of short sales, foreclosures, defaults, banking failures, cash for keys, bail-outs, loss of jobs, families in distress and uses reality, precise lingo and … (27 comments)
|
lenders: THRILL OF THE REAL ESTATE HUNT
- 07/12/16 12:17 AM
This is big game! Large Real Estate transactions ready to be taken down! Can you do it? There are two big targets out there that either attract a buyer or a seller and both come loaded for bear. There is no reward for the one that got away except a good story over a stiff drink. The idea is to prepare, gather the necessaries and hire a safari guide and then let the hunt begin!
RULES OF ENGAGEMENT
There are rules out there before you pull the trigger however. Some are ethically driven and others mandatory as well as some being optional or must be done. Your … (8 comments)
|
lenders: DO YOU OWN YOUR HOME THINK AGAIN
- 10/04/15 11:47 PM
It's not what you think or what the title implies or what so many others believe when sharing on this subject. Do you own or rent is answered with I OWN (if you do) and that is not necessarily accurate if for this one thing. If there is a lien on the property, i.e. the loan representing the money you borrowed to purchase, then they own the home while you pay them back
I'M BUYING
Another version is when someone asks you "is this your home" and you say yes, wouldn't it be more accurate to say I am buying it (if you are)? Yet, … (13 comments)
|
lenders: ACTIVENRAIN
- 08/28/15 11:43 PM
You cannot tell by the name that it is what it is. When I first heard it, I had no clue and when it was explained to me to be a "go to" for the Real Estater...I said, yea yea yea ala Beatles and shrugged it off. When I did visit eventually, I paid no attention to the name. Why? It delivered real Real Estate up close and personal setting the hook to wanting to be reeled in to know more
ACTIVERAIN-LAND?
I was in Real Estate land! If you are an agent, well you like to read, discuss, inquire and share related data … (14 comments)
|
lenders: MELLO WHO'S? MELLO ROOS SPECIAL TAX ASSESSMENT
- 01/07/15 04:33 AM
Before I got into the Real Estate business and even after, I heard this phrasing called MELLO ROOS. Unfortunately I asked an intellectual what it was and the explanation was so un-inviting that I passed on it. Later on, it came up and it is significant to know especially if you are buying property. It affects the bottom line
SPECIAL TAX
It is a special tax put on the property in question and can be a one time or a lifetime lien on the property depending on the amount to be paid. Lenders need to include that dynamic when evaluating you using income to … (4 comments)
|
lenders: ZILLOW ZESTIMATES REMAIN POPULAR TAKE THIS POLL
- 08/18/14 12:30 AM
Doesn't matter whether it is accurate, loved, or hated; anything having to do with a persons home that is either being sold or bought is relevant to all involved. Over the years, I have seen the Zillow Zestimate do its thing and much controversy has come out of it. WHY? Because professionals all knew that the value being presented wasn't accurate. Does that still hold?
VALUE OPINIONS FLOURISH
The arguing of value is nothing new. Appraisers, owners, neighbors, sellers, buyers, Real Estate agents and just about everyone's family members, friends and relatives has an opinion on the value of a home, neighborhood or community … (17 comments)
|
lenders: LETS TALK HOUSE
- 07/17/14 07:05 AM
I had an old friend call me and say they want to look at homes in a certain area and they wanted me to spend time and effort in helping them and they were sincere about it. So they started asking me questions about certain areas and pricing and best place to buy etc
CHOOSE THE TIMING
I wanted to get to the point right away, but I also had to establish some team rapport, let them have their space and sort of lead up to the critical core issues that have to be addressed. After some brief Q & A which upped the excitement … (6 comments)
|
lenders: BUY NOW or BYE NOW
- 07/16/14 08:43 AM
Well the powers that be are not confident enough about the economy to raise the interest rates and let others get a higher return on their investments so it has been decided to let them stand historically low and stay there for now. To be able to borrow large amounts of money to purchase a home and have to not pay top dollar for it is as good as it gets
PAYMENTS...KEEP THEM AFFORDABLE
When it comes to keeping monthly payments down and low, two things come to mind. Either you put down a large down payment thus reducing the amount you need to borrow … (4 comments)
|
lenders: NOT PAY A MORTGAGE FOR FIVE YEARS?
- 06/06/14 12:28 AM
This subject always intrigued since the seventies which is when I became familiar with those that late pay. I had a chance to work with hard money lenders, underwriters and to manage a large assortment of income properties. The income from these investments was important to keeping the operations thriving
RENT WAS DUE ON THE DUE DATE
When rent became due, a person under contract had 24 hours to make the payment on the day due or the next day they qualified as being delinquent and subject to late charges too. A good manager tries to reduce the work load to low maintenance by running a hands-on … (9 comments)
|
lenders: SENSING A MARKET SHIFT OF SOME SORT?
- 05/06/14 01:09 AM
We just came out of the mother of all Real Estate cycles that devastated banks, lenders, investors, insurance companies, buyers, borrowers and sellers leaving the Real Estate wounded and dead all across the United States and even overseas too
PREY TELL?
The third leg of the stool of the United States which is Real Estate and all its related and relevant industries were knocked around and then down and stayed down for years. Brutal this Real Estate cycle was because it was manipulated by opportunists that saw and seized on a weaknesses in the systems that specifically guard against this type of failure. Government wasn't governing
HOW CONVENIENT
Remember, when the crash … (8 comments)
|
lenders: THEY GOT AWAY WITH IT...remember?
- 03/29/14 12:58 AM
How easy the public forgets and time helps that along. The biggest theft in the history of the United States was pulled off by Wall Street and their affiliates to the tune of a near trillion dollars during this last Real Estate cycle crash...
WE GET ONE SHOT AT THIS...
Not millions were taken...NOT billions but closer to the trillion dollar arena. Big business tested the theory of whether the United States would bail out a failing government backed institutional business and the government did just that...they came through. The Gov made good!
SHOULD WE OR SHOULDN'T WE?
Thousands of people stole so much money; some got caught … (7 comments)
|
lenders: AS-IS MEANS I KNOW AND NOW YOU WILL KNOW
- 01/19/14 12:00 AM
AS-IS conjures up an instant thought of something is wrong here and I have to check it out. The price pops up in your head too making you think as well. It must be serious or they wouldn't have said something. Then again, maybe they are just saying what it means
MINOR BUT WE ARE NOT FIXING IT
Cosmetic issues usually come under the AS-IS as a common occurrence. We are not going to paint, carpet or replace window coverings. Fair enough and it is well that it is presented up front.
AS-IS cannot apply to waiving code or requirement much less habitability issues either. If it cannot be … (52 comments)
|
lenders: HEY LET'S BUY A HOUSE
- 12/31/13 11:26 PM
Your thinking is sound if you are coming around to this idea of owning Real Estate. Investors, renters and people who like to settle down are all in agreement with your thinking. Now, the second step is to flex those purchasing muscles to see if they can compete effectively in the buying arena
PRE-QUALIFYING
First we have to get qualified. What is our purchase ability power? For that we have to visit with an agent who will have some reliable lenders standing by that will run your numbers. You want a Real Estate agent involved from the beginning to build rapport and help support this … (6 comments)
|
lenders: WHY NOT TAKE 3 APPRAISALS AND CALL ME IN THE MORNING
- 01/28/13 11:45 PM
In the recent Real Estate crash, appraisers played a big part in what took place. It was so big that new regulation was put into place and it is a felony to interfere with an appraiser and his duties is what I have been told. I know they use comps, new construction and income property approach to come up with values...Those three approaches need reviewing
FOOD FOR "VALUE" THOUGHT
I have two ideas I want to throw out. The first is that it should become the norm or at least be considered that 3 independent appraisals would be required by lenders for … (4 comments)
|
lenders: WEAK BANK ALLOWS GUTSY REAL ESTATE SCAM
- 06/29/12 12:19 AM
I recently lost a listing, short sale to be exact to the bank. Despite the 15 months on the market, the several offers and 4 BPO's, I couldn't convince this lender to take a deal. Right before I lost the listing to a trustee sale, I got a flurry of activity on the property. I counseled everyone calling to sit tight until I heard back from the bank
WOLF IN SHEEP'S CLOTHING
It turns out that one of my inquirers contacted the bank and stated that they live in the home (it was vacant) and that they have a lease signed by … (10 comments)
|
lenders: WHAT IS THE PURPOSE OF REAL ESTATE
- 04/02/12 03:46 AM
Think about this. PAUSE on the title. Why does it exist? What are the benefits to be derived? How does what get the most out of it? It remains a high stakes games that is very rewarding to all those who enter into it. It is a good foundation too. No matter what space you occupy within the realm of Real Estate, you receive the value from it
RENTERS LIKE TO RENT
People who rent need and want a place to come home too. It should be in a decent area, close to amenities and provide a sanctuary at the end … (4 comments)
|
lenders: BANKS SHORT SALES DEFY ALL KNOWN BUSINESS PRACTICES
- 03/19/12 09:24 AM
I have a short sale that is itching to close. It has all the characteristics of being the short sale from hell about one years worth. Two lenders who play dead until you beat on them and then there is investor approval needed too
I WONDER WHAT THE BANKS ARE LEARNING
There are business procedures that when employed produce results and continued business leading to acceptance and permanence in the business communities. Then, there are business practices that when employed lead to without a doubt a business GOING OUT OF BUSINESS. Of course a new dynamic, supported by the government was introduced called ...BAILING OUT...where … (2 comments)
|
lenders: HURRY UP AND WAIT SHORT SALES SHORT ON PATIENCE
- 02/22/12 12:05 AM
Professionals move with a purpose. Doesn't matter what the profession is either. I have seen doctors apply their trade with confidence, attorneys rock & roll, police veterans take control of problems, escrow officers move transactions forward and agents perform responsibly. Applying ones savvy toward a result will bring it in. So, why cant the banks be professional?
PROBLEM/SOLUTION=RESULTS
In my world, as soon as a problem shows its ugly challenging head, I am all over it with solutions that make it seem like it was never there. I don't like delays, non-response, irresponsibility, or procrastination especially in the business world. Business dynamics … (8 comments)
|
lenders: GOING FROM ONE REAL ESTATE EXTREME TO ANOTHER
- 02/14/12 02:18 AM
Appraisers went from liberal to not being believable to conservative. Furthermore laws were passed to prevent shenanigans in influencing them too. Lenders went from no income no assets and no problem to no loans at all. Buyers went from fair market value to steals and deals or no sale. Trying to do business in an extreme environment is risky
WHAT GOES UP MUST COME DOWN LAWS HAVEN'T CHANGED
The old what goes up must come down is upon us. But then "down" must go up again but not like before. This time its journey is filled with caution and factors that … (0 comments)
|
lenders: OWNING APARTMENTS IS PRUDENT BUT BEWARE THE BUBBLE HERE TOO
- 02/13/12 10:20 AM
Renting is in the drivers seat right now. People need clean affordable rentals and are standing in line for them. For one thing, downsizing is a wise thing to do. Another, people who used to have homes need to rent. This has created a boom. Now here is a good time to practice what we learned from the last boom. What goes up, must come down
RENTERS WILL BUY AGAIN
People who lost their homes will become qualified again in 3 years. Between now and 2013, many who needed to rent badly and caused this rent boom will be vacating their … (3 comments)
|
I came across a movie called 99 Homes and when I read the synopsis, decided to give it a go. It is about the Real Estate business and of course only those that are in it can really know if it is on track or not. The same with doctors, police and scientists too. When they watch their movies, they know real from Hollywood hype. Real is upon you here...
;)
;)
;)
