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Foreclosed homes in New Jersey take over Plainfield (Video)
September 1, 2011 By Leave a Comment
Patience: How to find the best place to live
August 31, 2011 By 1 Comment
This morning I was speaking with the head of our data team when he mentioned several listings that he has seen reduced in price by as much as 80 percent over the last year or so. Right now represents a truly great opportunity to find amazing deals.
Sometimes it just takes patience.
As we researched these particular deals, we noted that there were multiple offers throughout the listing process. If the offers were rejected, and the homes would be re-listed, the price would be reduced about six weeks after it hit the market again.
Patience and the discipline of patience is where money can be made, or saved, for that matter.
That blend of risk taking and waiting can only be achieved by practice and knowledge. First you need the knowledge and then the practice. The application once these two key ingredients are combined is where wisdom is gained.
Have you ever noticed that change both positive and negative occur line upon line and precept upon precept? Taking an action, even if it’s small, takes you in a direction. From there, you can always change course, but taking an action is where it begins.
Long-term perspective can be a fruitful practice and the virtue of patience is real.
To check out (and monitor) listings in your target market be sure to check out Foreclosure.com today. You can “save” properties of interest and watch them, as well as their descending prices, until you are ready to make your patient move.
Homes for sale in Florida: Sales up, prices down in ‘logic-defying housing market’
June 22, 2011 By Leave a Comment
The housing market in South Florida took the downturn in housing hit flush on the chin. Today, it’s among the top regions in the nation for mortgage defaults and foreclosures.
As a result, home values came hurtling back to Earth — many as much as 50 percent or more from their pre-crash equity — like cosmic fireballs. That has enticed opportunistic, cash-laden investors to snatch up real estate at drastically reduced prices.
In fact, a recent report in the Miami Herald reveals that in May 2011 “home sales continued to rise, keeping South Florida on track to have its best year on record.” In addition, “in the first five months of the year, more than 23,000 homes and condos have traded hands in South Florida, one of the strongest five-month runs on record.”
While sales are clearly brisk, going in the opposite direction of national trends and actually setting records, home prices in South Florida continue to plummet. Typically, when demand increases, so does the cost of doing business.
Apparently that’s not the case in this market.
The large existing (and unknown) inventory of distressed real estate — cheap foreclosures and short sales — is likely to blame for the current situation. Ron Shuffield, president of Esslinger-Wooten-Maxwell Realty, attempts to explain it:
Fannie Mae foreclosures on HomePath offer buyers and agents incentives
June 14, 2011 By 1 Comment
Homebuyers who purchase Fannie Mae-owned homes, which are listed on its HomePath.com website, now have four additional months (until Oct. 31, 2011) to earn up to 3.5 percent back on the final sale prices to put toward closing costs.
The previous deadline was June 30, 2011.
In addition, real estate agents who sell Fannie Mae-owned homes to homebuyers — not investors — will receive $1,200 bonuses.
It’s a two-pronged strategy that is designed to “energize” the sale of homes, as well as create a sense of urgency among those who may be on the fence or waiting for the “right” time.
Joe Bettag, a Florida-based real estate broker/owner, tells the Palm Beach Post:
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